That's a spending problem, not an income problem. US median household income is above $50k. It's also been rising under Obama after declining during the financial crisis.
The hits will be the consequences of Trump policies. Most likely a trade war.The US economy will take a very large hits during the next 4 years. Who knows what the trigger or Black Swan event will be, but the $T15 created during the last 20 years will come home to roost.
My bet is on a reset.
It does benefit America. Americans have benefited from low prices, not only in Wal-Mart but all through the entire supply chain. The price of your food is lower because the farmer used tools and machinery from China. Your banking fees are lower because your bank bought Chinese desks, staplers, chairs, copiers, terminals, rugs, phones, etc.I mean everything I buy in Canada is made in China.
Canadian Tire, Home sense, Winners, you name it. I have family in the states, and its the same. Plates, toys, nearly every item.
So cut them out, and build more within. If it can be done, it has to benefit America.
NO WORD OF A LIE, but I honestly thought, "wow, is Kathleen going to actually finish off that sentence with '...he lies so much'" LMAO!!!Now were in uncharted waters as I didn't bring up Carrier or anything with the Unions. The things you say Trump has lied about, I have read nothing on. Its hard to know what he is lying about when
But you still have to deal with Fuji's arguments that the money saved from lower consumer prices in the developed world gets spent locally on luxury items. We could all go back to 1935 when a suit cost the equivalent of a month's wages and a man bought a suit every 10 years and his wife darned it when it frayed and wore and when "life's savings" were $5,000.00 in a tin box under the bed. Then you could piss goodbye all your "investment advisors", "addiction counsellors", high end "foodie" restaurants and everything that generates real income in North America these days. Oagre's grandad didn't have those either when he came back from a day in the coal mine and his wife gave him a cup of tea and they listened to the radio as entertainment.It is insane to join two countries where labor costs say $100 a day in one and $10 a day in the other. For 300 working days, the cost differential per employee is $27,000. For 1000 employees, the saving is $27 Million. Guess where a company is going to want to manufacture their products?
So this is not free trade or fair trade. It is rape trade sanctioned by agreements like NAFTA and a body like the WTO for the benefit of multinational corporations and countries like China and Mexico. The TPP was going to join a tiny economy like Vietnam to a behemoth like the USA. And it was to allow multinational corporations to benefit from even cheaper labor rates these days in Vietnam. Trump was right to tear up the TPP, despite his continued hypocrisy of having his and Ivanka's goods manufactured offshore while he rails against others wanting to do the same.
So while globalization leads to lower prices, it is at the expense of labor and wages in advanced countries. This is not what Ricardo had in mind when he pronounced his comparative advantage thesis. For trade to be truly fair between say China and the US, labor cost differential has to be factored into the equation. Sure prices will go up some. But the revenue generated can be used for a massive training program, pay day care so mothers can go for vocational training and tear down and repair the dystopian ghettos.
BTW, I wrote a book on this subject 15 years ago - Save American Jobs. And I came up with a formula to calculate the labor differential factor. Maybe I should send a copy to Jared Kushner.
Sure. Lower taxes and increased spending should be great for an already huge national debt - assuming Trump keeps any of his campaign promises.Economies go through cycles regardless of who is POTUS. US economy has come back because that's what the US economy does, not because of cash for clunkers or other policies.
Business is very optimistic about Trump, you see that in the spike in the market since he was elected. Lower taxes, less regulation and infrastructure spending all are encouraging for US business.
Debt doubled under Obama in 8 years, I don't see much hand wringing from the left on that.Sure. Lower taxes and increased spending should be great for an already huge national debt - assuming Trump keeps any of his campaign promises.
They ignore the long term number (the debt) and try to make us focus on the current years dismal numbers. This is called cooking the books in Accountancy terms. They want us t forget that Obama was: 1. at war every single day of his presidency. 2. Increased the debt more than any other president combined.Debt doubled under Obama in 8 years, I don't see much hand wringing from the left on that.
The debt have doubled both under Obama and Bush. It will eventually come back to bite the economy in the ass. Who knows which black swan event will be the trigger, but something will likely happen during the next 4 years. It will not be Trump's fault, but he will be the fall guy.Debt doubled under Obama in 8 years, I don't see much hand wringing from the left on that.
Obviously China will specialize in low cost labour, there's no doubt about that. And the US will specialize in automation, finance, etc.It is insane to join two countries where labor costs say $100 a day in one and $10 a day in the other. For 300 working days, the cost differential per employee is $27,000. For 1000 employees, the saving is $27 Million. Guess where a company is going to want to manufacture their products?
So this is not free trade or fair trade. It is rape trade sanctioned by agreements like NAFTA and a body like the WTO for the benefit of multinational corporations and countries like China and Mexico. The TPP was going to join a tiny economy like Vietnam to a behemoth like the USA. And it was to allow multinational corporations to benefit from even cheaper labor rates these days in Vietnam. Trump was right to tear up the TPP, despite his continued hypocrisy of having his and Ivanka's goods manufactured offshore while he rails against others wanting to do the same.
So while globalization leads to lower prices, it is at the expense of labor and wages in advanced countries. This is not what Ricardo had in mind when he pronounced his comparative advantage thesis. For trade to be truly fair between say China and the US, labor cost differential has to be factored into the equation. Sure prices will go up some. But the revenue generated can be used for a massive training program, pay day care so mothers can go for vocational training and tear down and repair the dystopian ghettos.
BTW, I wrote a book on this subject 15 years ago - Save American Jobs. And I came up with a formula to calculate the labor differential factor. Maybe I should send a copy to Jared Kushner.
Trump isn't proposing to fix that, he's going to increase it.Debt doubled under Obama in 8 years, I don't see much hand wringing from the left on that.
Free trade DOES put the US first. No country in the world has benefited as much from trade as the United States. Trade made the US a superpower and US power grows the freer trade is.You went to the extreme opposite. I'm not saying end all trade and don't import anything from China.
I'm saying put your own country first when dealing with trades. Make trades that work in your own best interest, and by that don't be so dependent on another nation.
With the climate the USA has, you have to be able to avoid bringing in produce from Mexico or South America rather than growing and shipping within the USA.
Same should hold true with building more things within the USA. Keeping costs low, so its not cheaper to import everything from China.
I said economics isn't something I'm educated in, and I hardly represent all Trump supporters.
Lmao and how long does he plan to keep them there?Oh btw, Khufu, Trump is stating that he will put the army into inner city Chicago to end the "carnage". We'll see what happens.
I predict that the gangs will simply more to other neighbourhoods and keep killing.