Not my thoughts at all. I'm just surprised at Notch saying the entire US economy has been wrecked when the IMF are still predicting the highest growth in the G7.
Maybe you can tell me?
the trade war heats up: China stops exports of gallium, germanium, antimony, graphite, and tungsten to USA
- Thread starter Notch7
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Not my thoughts at all. I'm just surprised at Notch saying the entire US economy has been wrecked when the IMF are still predicting the highest growth in the G7.
Maybe you can tell me?
It could have been, all the other unintended consequences of his tarrif policy could have forced him to backtrack.
People confuse deficit with debt.
I don't think they are the same.
Not the same, but one leads to the other. Sustained trade deficits weaken domestic industries, lowers growth which reduces the tax take which increases government borrowing.
An easier analogy is to compare it to an average household. Earn 500 quid a week, spend 600 quid a week. It gets more interesting when the country plays 'host' to 100's of thousands of migrants who need to be put up in hotels whilst at the same time sending millions abroad to support other nations.
Thatcher’s industrial policies to a T, it was more important to her to close profitable pits than it was to import more expensive Polish coal
The curse of credit and the damage it has done to the economy.
Unrelated curve ball thrown in for good measure. But America was built on immigrants.
Similar to the Micawber principle
Annual income twenty pounds, annual expenditure nineteen, nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Bullying your own businesses to onshore their production (despite them having offshored it in the first place, to remain competitive).
Then using tariffs to try to make overseas companies uncompetitive.
Hmmmm.......
What if £200 per week of that expenditure goes on training to be a doctor or a lawyer and as a result you end up earning £3000 per week.
Exactly, I'd replace the word 'bullying' with 'incentivising' but you have it in a nutshell, and a move away from globalisation.
Or do you think Globalisation has been a success?
Then everything would be wonderful.
I think lack of investment in the UK has been our downfall, not globalisation.
We exported the jobs we didn't want to do, then the jobs we couldn't do as cheaply................
.........and we have reached the point where the jobs [the Chinese] now do, we haven't the infrastructure nor enough skilled labour to do at all.
Don't believe me? Try this fella then
D
Deleted member 323070
Incentivising = stick and carrot.
Stick = bullying
carrot = rewarding.
How is applying tariffs rewarding?
I don't disagree but globalisation has removed a lot of the need to invest in the UK. It can be reversed, it's not a short term game despite what Trump may think but to carry on with the path we're on will eventually lead to the downfall of the West.
For all it's faults, I'd rather the western powers remain on top as opposed to China and it's satellites.
He doesn't mention $180 billion annual profits, probably more to do with why they've offshored everything to China.
D
Deleted member 323070
For all its faults, Single party government (i.e. Communism if you like) is more likely to achieve those long term aspirations.
Multi-party democracy, with short term Parliamentary durations is unlikely to achieve long-term aspirations.
