Current events have revealed that Ayn Rand’s novel Atlas Shrugged is not just fiction, but almost a prophesy. Elizabeth Warren’s Accountable Capitalism Act and the cronyism of Trump’s tariff policies are straight out of Rand’s novel. It won’t end well.
Trump’s trade war is not about about being patriotic or Making America Great Again or protecting American businesses. It is about politics and bad economics. No one wins a trade war; everyone loses.
if Donald J. Trump can believe free trade is bad for American workers despite his own White House’s announcement of record low unemployment and high trade deficits, then he can believe almost anything. And that is the problem and it’s dangerous.
President Donald Trump just opened the first salvo in a trade war by imposing tariffs (taxes) on steel (25%) and aluminum (10%). It won’t end well. (more…)
The other day President Donald Trump tweeted, “The United States has an $800 billion Dollar Yearly Trade Deficit because of our ‘very stupid’ trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more.”
If it is the case that we have been fools to engage in “one-sided” free trade with other countries, then Trump personally entered into a “very stupid” deal resulting in a huge personal trade deficit. (more…)
I checked out my closet to see where my clothes were made. My shirts were made in Vietnam, China, Peru, Honduras, Nicaragua, El Salvador, Dominican Republic, Mauritius, Singapore, Thailand, and Turkey. My Levi jeans were made in Bangladesh, India, and Mexico. I couldn’t find any clothing made in America. Maybe I didn’t look hard enough. At Costco you can get a very nice all cotton t-shirt made in Peru for $12.
Think about all the jobs lost because of these cheap imports. If Costco was truly patriotic why don’t they buy American made clothing? Wouldn’t that keep jobs in America? Trump says that China and Mexico are stealing American jobs. (more…)