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USA’s chronic trade deficits

Discussion in 'Economics, Business, and Taxes' started by Supposn, Mar 19, 2016.

  1. Woolleybugger

    Woolleybugger Mayor

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    I remember when this whole thing started. We were sold a bill of goods. Here is the pitch as I remember it from the 80's. First of all, we are going to let you invest in the stock market via IRAs and 401ks for retirement. By becoming shareholders, you own part of the companies that are going to ship your job and your buddies job overseas. Once you are shareholders, you get to enjoy the dividends and wealth creation of the moneyed class. Now, if you lost your job to outsourcing or free trade, you need to be retrained. Retrained for the jobs of the future, those jobs yet to be named but if you just go to school or take classes on anything, you can be ready for your next job. Meanwhile, enjoy the cheap stuff we import now. Isn't that just dandy?
     
  2. EatTheRich

    EatTheRich President

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    And you won't need social security because your privately invested pension will keep you in luxury ... and if we cut taxes on the rich the wealth will trickle down ...
     
  3. Supposn

    Supposn Council Member

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    EatTheRich and WoolleyBugger, regardless of any federal income tax policy regarding retirement income, they are not the cause of USA’s trade deficits.
    USA’s chronic annual trade deficits do drag upon our GDP which both reflects upon and itself reflects USA’s lesser than otherwise numbers of jobs and their wages’ lesser than otherwise purchasing powers.
    That’s why I’m among the proponents of USA adopting a specific unilateral Import Certificate policy for conducting our global trade of goods. It is a primarily market rather than government driven policy that’s entirely funded by USA purchasers of foreign goods.

    Google Wikipedia’s article entitled “Import Certificates”
    and/or
    The paragraphs entitled “Trade Balances' effects upon their nation’s GDP”
    within the article entitled “Balance of trade”.

    Respectfully, Supposn
     
  4. Fast Eddy

    Fast Eddy Mayor

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    Having free trade and Unions are incompatible. The high wages demanded by unions means they will be driven off shore very quickly.

    I believe globalization is not compatible with jobs for a robust economy with high wages, I believe Trump is correct and things need to be put in place to protect your own job market. Blocks on exiting a country make total sense, if you move, we tariff, so all things remain equal, so no advantage to moving. Free trade is only good to the bottom economies as it drives jobs to them.

    We finally catch on that free trade and globalization is not such a good idea, so we work to bring manufacturing back home, but technology has changed and now everything can be done by robots and Artificial Intelligence (AI). It is estimated that 40% of existing jobs will disappear in the next 10 to 15 years, I think it much higher. We now have a jobs problem that we can bring back on-shore only to be replaced by machines. We need out of the box thinking.
     
  5. Supposn

    Supposn Council Member

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    Fast Eddy, regarding us needing “out of the box thinking”. I’m a strong proponent of Import Certificates.
    Google Wikipedia’s article entitled “Import Certificates”
    And/or
    http://www.politicaljack.com/thread...s-increase-job-numbers-and-median-wage.78711/
    http://www.politicaljack.com/thread...s-increase-job-numbers-and-median-wage.78711/
    Trade deficits drag upon GDP which drags upon their nation’s numbers of jobs and wages’ purchasing powers, (which in turn further drag upon their GDP.
    Respectfully, Supposn
     
  6. EatTheRich

    EatTheRich President

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    I think we should simply have a state monopoly on foreign trade.
     
  7. EatTheRich

    EatTheRich President

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    And I say the answer to corporate-driven globalization is not national balkanization and protectionism, but globalization under workers' (union) control. The answer to the flight of jobs to nonunion countries is not uneconomical sunk investments in "our" country, but the organization and uplift of workers in every country. The answer to automation is not a futile effort to stop it, but a political struggle to make sure that the benefits (more production with less labor) are enjoyed by the toiling masses.
     
  8. Supposn

    Supposn Council Member

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    EatTheRich, other governments have attempted to monopolize their foreign trade; their attempts did not improve their economies.

    I am a proponent of organized labor.

    The economic and criminal activities of corporations were no more nationally detrimental to that of labor activities. The “right to work” laws undermine the purchasing power of USA’s median wage and increase poverty.
    Employees and applicants for employment are of great disadvantage to employers of labor.

    Germany’s economic successes are significantly attributable to the co-operative efforts of their government, labor and corporations.

    Respectfully, Supposn
     
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  9. The Sage of Main Street

    The Sage of Main Street Governor

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    If You've Heard of Someone, He's Been Hired. So Don't Listen to Him.

    Socialism has always been a plot by the Born to Rule children of the rich to take over the labor movement. Hereditary classes, from which Marx and Engels, etc., arose, have no right to exist. Whether they pretend to be Left or Right, they get in the way of everybody else and must be removed. Their designated opinionators drown out the ability to think about this cancer of predetermination through Daddy's Money
     
  10. Supposn

    Supposn Council Member

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    EatTheRich, I’m a proponent of a proposed unilateral USA trade policy as described within the Wikipedia article “Import Certificates. It’s much more a market rather than a government driven policy proposal; it’s certainly not socialism.

    Respectfully, Supposn
     
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  11. EatTheRich

    EatTheRich President

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    I am a proponent of organized labor too, which is why I support a workers' government establishing a monopoly on foreign trade.
     
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  12. EatTheRich

    EatTheRich President

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    The proletariat is too weighed down by capitalism to create a culture of its own, including a culture of revolution, without the help of renegade members of the more privileged classes. That's why the workers who banded together to wage a political fight against the hereditary ruling classes recruited Marx (unemployed journalist, son of a minor bureaucrat) and Engels (factory owner) to their revolutionary movement, through which those men achieved their synthesis of revolutionary philosophy and revolutionary action, which proved itself in practice with the century's greatest revolutions (Russian, Chinese, Vietnamese, Cuban), both in a positive sense and in a negative sense when the workers paid for those revolutions' deviations (and those in France, Spain, Germany, Indonesia, etc.) from Marxism.

    The "Communist Manifesto" is the greatest single ideological conquest of the labor movement.
     
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  13. The Sage of Main Street

    The Sage of Main Street Governor

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    Lincoln Was a Typical Republican; Follow That and You'll See What Has Always Been Behind All This

    No, you're not pro-labor, or else you wouldn't champion races that are too lazy and incompetent to get any work done. The hidden purpose of integration was to break up union solidarity by forcing them to accept fellow workers they were genetically incompatible with, wouldn't carry their weight, and would decrease productivity so much that the businesses wouldn't be able to pay union wages without going bankrupt. No wonder the Republicans were so cooperative about passing the 1964 Civil Rights Act. Now they brag about it to our faces and we still can't see that the rich fear all other White people, and only us.
     
  14. Poseidon Atlantis

    Poseidon Atlantis Mayor

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    Don't be silly , no-one cares about a trade deficit , visible or invisible earnings , as long as the USA is there , people will trade !
     
  15. The Sage of Main Street

    The Sage of Main Street Governor

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    Karl Marx Was the Sex Slave of a Jane Fonda Type Heiress

    So you admit that the workers were suckers who invited the upper-class predators into their group? It's just an extension of peasant slavishness that they could have so little respect for their own natural leaders and put their trust in the phony "rich kids on our side." They were as self-deceptive as trailer-park Republicans are. For that treason to the best of their own kind, they deserved the Gulag.
     
  16. Poseidon Atlantis

    Poseidon Atlantis Mayor

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    I think you might have been following the thread "porn " too closely old chap ;)
     
  17. Supposn

    Supposn Council Member

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    EatTheRich, I’m a proponent of a proposed unilateral USA trade policy as described within the Wikipedia article “Import Certificates and I’m a proponent for organized labor.
    The Import Certificate policy that I’m among the proponent for does not tolerate their nation’s suffer annual trade deficits of goods Although it’s compatible with any economic system that I’m aware of, (i.e. it’s compatible with both socialism to capitalism), a pure socialist government would have no need for an IC policy.

    The IC policy is integrally much more a market rather than a government driven policy proposal; it’s certainly not socialism.

    Other governments have attempted to monopolize their foreign trade; their attempts did not improve their economies; but socialist nations may be required to accept annual trade deficits when the consequence s of their economic policies are shortages of food or other necessities.
    That’s why I’m a populist but I’m not a socialist.

    Respectfully, Supposn
     
  18. EatTheRich

    EatTheRich President

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    1. Lincoln certainly represented the capitalist class, but he led them in a war not against the workers, with whom he had an uneasy alliance, but against the planter slaveocracy. By freeing capitalism from its bondage to precapitalist modes of production (such as slavery), he helped put workers in a stronger position to overthrow it without risk of becoming slaves themselves.
    2. The rich quite evidently fear nonwhite people, hence for example their murderous campaigns against the Koreans and Vietnamese.
    3. A large and increasing proportion of labor struggles in the U.S. have been led by nonwhites.
    4. The 1964 Civil Rights Act was a concession to a mass movement that threatened to overthrow the rule of the rich altogether if not mollified.
    5. One of the advantages the CIO had over the AFL, which led to the major boom of unionization in the 1930s and 1940s, was that they supported integrated unions as opposed to the majority of AFL unions that were lily-white.
    6. Your aspersions on the quality of non-white workers don't ring true with people who actually work for a living and amount to nothing but racist vitriol.
     
  19. EatTheRich

    EatTheRich President

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    It's that the workers didn't have the opportunity to get university educations and study the lessons of history, the economic advances of Smith and Ricardo, the philosophy of Hegel, and the other things that allowed Marx and Engels to develop a winning strategy.
     
  20. EatTheRich

    EatTheRich President

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    I'd say it's led to major economic improvements in some cases, notably the USSR, China, and N. Korea. It also exacerbated economic crises resulting from poor planning and from historical underdevelopment, again in the USSR, in Bulgaria, in N. Korea, in Albania, and in Cuba. At any rate, for me the question is not what is good for one country at the expense of another, but what is good for the international working class.
     

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