The Whores of Economics
For decades foreign countries charged higher taxes on American goods entering their countries than America charged for their products coming here. This ability for foreign countries to make a T-shirt cheaper than we could in America was because the rates of pay for their workers were incredibly less than ours. If a T-shirt purchased by a U.S. retailer cost six dollars from an American manufacturer but buyers could get the same for three dollars, that was only common sense.
Did America forget what happened to the U.S. Steel and Textile industries while this was happening? No, our “Leaders” in Washington did absolutely nothing to level the playing field. Now that Donald Trump is doing that very thing, Democrats cry foul. And they are the Party of Fairness and Equality.
The decades that have passed while these unbalanced tariffs were in place, foreign companies began to become enriched. Try to buy anything now not made in Asia. Who makes more than half the cars and electronics sold in America?
The retailers in America played it smart, all the while American jobs went overseas. Nothing was done about it, not by George H.W. Bush, not by Clinton, not by George W. Bush, not by Obama.
The result was that billions of greenbacks went to countries like China, who now owns more of our Treasury debt than any other nation. Our business practices filled the pockets of Chinese businesses and they in turn became our debt slave masters. In the link below China’s share of U.S. Securities has dropped but is still reportedly over $1 Trillion dollars. We send them our cash; they buy our debt. Is that supposed to be a good thing?
Lower cost foreign goods made Walmart the retail giant it is today. Just go online to Walmart.com and type in ‘televisions. You see LG, Samsung, Sony as some of the more predominant brands. We like deals and the low tariffs enjoyed by foreign manufactures made us fall for the low prices just like love-struck puppies – without realizing we were putting our own economic neck in a noose. We have become addicted to the low cost of foreign made products, all the while allowing a domestic economic disease to spread.
I recall when new Walmart stores opened in areas I lived. Many Mom and Pop operations went by the wayside. The consumers enjoyed more bang for their buck but in how many areas did Walmart become the only game in town?
My Bride scans the sale papers like a hawk circling high above a restive rabbit. She has taken advantage of many deals that stretch our shopping dollars. This is natural for most people. Why pay thirty thousand for a car when a competitor sells something comparable for twenty-seven, five?
If our negligent leaders had any gonads and not bowed to Corporate greed to be assured handsome campaign donations, they would have looked at the long-term effects of granting exceedingly low tariffs to foreign producers. But looking at the long term is not a habit for many Americans, that’s why in spite of the highest wages in our history so many live paycheck to paycheck – damn the future.
It is the same reasoning when Donald Trump met with NATO leaders in front of their Billion-dollar plus new headquarters. He called them out right in front of them for those members not meeting their pledged contributions to NATO yet spending a billion plus for a new office building. It wasn’t long before some of the miscreant members started to pony up their share.
It is the same behavior of men that father children then abandon the Mother – making her drain our tax dollars to make up for his negligence in not accepting responsibility for helping make a child. Welfare payments are now in the many billions with no end in sight.
Many in America know exactly where money comes from – the Federal Government – in turn getting it from taxpayers or printing it. Numbers from Nationalpriorities.org put transfer payments currently at $2.45 Trillion per year, or 65% of the Federal budget. Need or want money? Find some Government program, of which there are now more than 80, and you can sign up for cash.
The Whores using one plan or another goes from the top Corporate CEO’s, because that’s where the big campaign donors are, down to your neighborhood junkie, because that’s where the votes are.
The Declaration of Independence was written in 1776 and the nation prospered under the belief that as an independent human being you were responsible for your own survival. Now we are the Nation of Dependence, with trillions being gobbled up from worker’s pay just to keep some Government politician in office. Actually, Economic Whores are from every strata of America’s society.
When selling Life Insurance in the 1980’s in Chicago’s south suburbs, I met a man who never made more than five bucks an hour working at a golf course. Yet he had a station wagon and a beautiful two-story home – all paid for. His secret he said, was, “I always paid myself first”. And this meant being frugal and saving money. He planned for his future, but have our national leaders?
Not until now.
If you are ignorant of how economics work, I suggest the easy to read, “Basic Economics” by Thomas Sowell. Your eyes will be opened and you will understand just what the President is trying to correct.
(When typing into a search engine ‘Chinese vs US tariffs’ the responses are primarily how Trump is endangering our nation by his Trade actions. On the third page I found: https://fas.org/sgp/crs/row/RS22640.pdf
Next, I tried, ‘Chinese tariffs on American goods”
After scrolling through five pages of links I cannot find the answer I seek. And that’s how Tech Giants control information: nothing positive about Donald Trump is allowed. After all, the U.S. economy is booming, proving Trump must be stopped!)