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The Forum > General Discussion > Can We Get our Manufacturing Back ? Trumpery ?

Can We Get our Manufacturing Back ? Trumpery ?

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Sorry Joe, you are wrong on that one. The yanks can thank their lucky stars that Trump learnt in business, & never studied economics.

You only have to look at who believes & promotes the global warming scam to realise that economists, & the modern breed of journalists are the most naïve & easily fooled people in western society.

Yes the export of services is great for the affluent class, with the right connections & education, but it does not a damn thing for the bloke or bird who used to screw things together in a factory.

Trump obviously knows this, but academics, lawyers & economists don't understand, or more likely don't give a damn about it or the people they hurt. I'm surprised you don't see who he is trying to support.
Posted by Hasbeen, Tuesday, 17 July 2018 3:42:50 PM
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Hi Has been,

Yep, the 'export' of services is a great boon to certain classes and, on balance, boosts the economy overall, at the expense of the workers in declining industries, whose products can be produced more cheaply in other countries with lower wages.

So are you suggesting that Trump is not only aware of this, but also expects that the US must have a surplus with China not only in services but in goods as well ? And with every other c country ?

I don't think practical economics works that way. Yes, bullying and insults may help that along, but that's not a one-way process. Nor does it help the fragile world economy along. I'll stick to my suggestion that Trump do a first-year course in economics. It might even help him avoid yet another bankruptcy.

Just trying to help.

Joe
Posted by Loudmouth, Tuesday, 17 July 2018 3:59:47 PM
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Yes Aiden I am aware that they just cannot call in the debts but they
can just start selling their US Treasury off and blackmail the US to
behave as they require.
Posted by Bazz, Tuesday, 17 July 2018 4:18:44 PM
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No Loudmouth, I do not think that anyone expects the US to sell much
physical stuff to China.
I suspect Trump wants to get their factories selling stuff to the US.
It is the collapse of manufacturing that caused the unemployment.
The East and West coasts are OK because they mostly live on those
services that were mentioned.
It is the fly over states (gawd what a put down) that suffered.

Well we have our own version, except they are in the western suburbs.
Can we call them fly overs ? Perhaps drive throughs on the way to the snow ?
Posted by Bazz, Tuesday, 17 July 2018 4:32:36 PM
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No, Bazz, the USA can call their bluff. If China tries to attack the US dollar, it will lose more than the USA will.

________________________________________________________________________________

SteeleRedux,
Our dollar shouldn't have been over the US dollar at that time. It was only that high because the RBA board were actively sabotaging our economic recovery with high interest rates because they were paranoid about inflation.

As for Germany, their wage cuts exacerbated the problem in the rest of the Eurozone where no such cuts occurred.
Posted by Aidan, Tuesday, 17 July 2018 4:47:17 PM
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Bazz,

Blackmail ? I suppose one man's tactics is another man's blackmail.

But again, "... are you suggesting that Trump .... expects that the US must have a surplus with China not only in services but in goods as well ? "

As for who benefits from the US's surplus in 'services provided' and who loses from its 'deficit in goods provided', that's another issue, more to do with differential technological development and equity. But regional imbalances in the US are hardly China's (or anybody else's) fault.

Joe
Posted by Loudmouth, Tuesday, 17 July 2018 6:15:28 PM
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