Trump carries

[roberth]

Free trade? An article from Ross Kaminsky in the American Spectator.

Allow me to offer a few quotes (emphasis added) from one prominent economist, at the time a professor at an elite university, who was lamenting the poor understanding of international trade in the United States:

• “Most of what a student is likely to hear or read about international economics is nonsense.”
• “International trade is not about competition, it is about mutually beneficial exchange.”
• “Imports, not exports, are the purpose of trade. That is, what a country gains from trade is the ability to import things it wants. Exports are not an objective in and of themselves: the need to export is a burden that a country must bear because its import suppliers are crass enough to demand payment.”
• “The level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect.”
• “Trade should be debated in terms of its impact on efficiency, not in terms of phony numbers about jobs created or lost.”

http://spectator.org/articles/65797/...ers-free-trade

[roberth]

The biggest problem in this country as far as trade goes is the government and its myriad rules and regulations. These rules/regs have created an artificial market for big business b/c big business can operate in a crony capitalism market where small businesses simply cannot afford to follow all the rules/regs that require an army of lawyers to figure out and follow.

[DavieD55]

The biggest problem in this country as far as trade goes is the government and its myriad rules and regulations. These rules/regs have created an artificial market for big business b/c big business can operate in a crony capitalism market where small businesses simply cannot afford to follow all the rules/regs that require an army of lawyers to figure out and follow.

http://www.goodfellowllc.com/free-st...pp-living-blog

[roberth]

DaveD55, thanks for the video.

[Great-Kazoo]

The biggest problem in this country as far as trade goes is the government and its myriad rules and regulations. These rules/regs have created an artificial market for big business b/c big business can operate in a crony capitalism market where small businesses simply cannot afford to follow all the rules/regs that require an army of lawyers to figure out and follow.

The biggest problem in this country is.................. When was the last time a company exported more than imported.
When was the last time America purchased clothes, steel even auto's from a full on in country industry?

Shoes, Clothing The only thing that comes to mind made "In House" are pharmaceuticals.. We have no problem cranking out millions of pills annually. Shoes, i can't buy a pair of shoes that weren't made in China, Indonesia, Vietnam.

Yes there are small companies here in the Good Ol U.S. of A. But there's no longer Buster brown shoes, Fruit of the Loom, U.S. Steel, Alcoa . From Start to Finish made 100% here.

[cstone]

You don't need a pair of shoes! Don't be a hoarder.

[roberth]

The only thing that comes to mind made "In House" are pharmaceuticals.. We have no problem cranking out millions of pills annually. Shoes, i can't buy a pair of shoes that weren't made in China, Indonesia, Vietnam.

Yup, the costs of production and shipping are much less in those countries, we'll see more of this as Obamacare continues to roll along. I know New Balance still makes some shoes here, IIRC they cost $30 or more per pair than foreign production, I cannot speak to the quality or durability of USA shoes over foreign shoes.

This market activity is neither right nor wrong, it is an aspect of markets that never changes regardless of government interference.

People forget about their power in the marketplace. We hold the power and unfortunately we've used our power to affirm cheap, chinese crap instead of quality and value. In the world of zero personal responsibility, it isn't our fault we bought cheap, chinese crap that broke in month, it is Walmart's fault for making that crap available to us.

[davsel]

Free trade? An article from Ross Kaminsky in the American Spectator.

http://spectator.org/articles/65797/...ers-free-trade

You do realize Kaminsky is quoting from Paul Krugman?
I'll let you do the research into who and what Paul Krugman stands for.

[roberth]

You do realize Kaminsky is quoting from Paul Krugman?
I'll let you do the research into who and what Paul Krugman stands for.

Yes, I do know who Krugman is and as mentioned in the article it was the one time Krugman was correct about anything. Krugman possibly could have been up there with Milton Friedman but he chose the leftist path. Even a broken clock is correct twice a day.

From the article:

the very large net benefit of free trade to a nation that engages in it is largely uncontroversial among economists, at least among honest ones — a group that sadly no longer includes Dr. Krugman.

Paul Krugman won’t stand up for the truth and even so-called supporters of free trade in the current political field, such as Ted Cruz, offer only half-hearted defenses of this beneficial activity. (I do credit Senator Cruz for correctly noting during a recent debate that Donald Trump’s proposed tariffs on imported goods will be paid for by American consumers, not foreign companies or governments, thus particularly harming the poor.)

[Great-Kazoo]

You don't need a shoe! Don't be a hoarder.

FIFY