Trump got elected because he made a promise to the steel workers in the rust belt that he’d punch back on trade — fight to protect jobs. Perhaps blue collared work is beneath some of you. I certainly know it is beneath me. However, I have empathy for people living in retarded rural areas with nothing else to do than waste their lives away. Now there’s a human narrative that needs to be discussed and it all has to do with choice.
Is it ok to sacrifice an entire genre of people in order to produce cheaper items for the masses? Sounds like slavery to me. In this instance, we have relegated millions as wards of the state, creating a deleterious situation for the bloodlines of all those families hit hard by the loss of industrial jobs in the midwest.
Now I know my advisor friends truly despite robo-advisors and they mock them often, not because they’re horrible for investors, but because it literally means loss of jobs in the finance world. Imagine a world where it was the policy of the United States to actively promote the exportation of financial advisory jobs to overseas robo-advisors. I bet you absolute faggots would be seething, absolutely.
Here’s Kyle Bass offering common sense to the steel tariff industry. It’s about national defense and the rust belt — the millions who’ve been afflicted by opioids in the past decade because Dad lost his job and the family went downhill fast: the human element in this wonderfully fucked up moneyed world we live in.
“We import 4 units of steel for every 1 that we export. And for aluminum, we import 90% of our basic aluminum needs.”
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Steel using sector dwarfs the Steel producing sector.
Yes, but the real unanswerable (but debateable) question is if the gain in steel jobs and the gain in low- to mid-income wages will offset the loss of steel-using sector jobs (there will most defintely be a loss in buying power for upper-income Americans, such as economists and high-level politicians).
I think people are looking at this too binary. The loss of some steel using sector jobs will not destroy those industries. Think of the steel industry as Detroit. If we invested money into Detroit and lured people from NY there, we wouldn’t worry about NY becoming a wasteland. We’d applaud the revival of Detroit.
This is the steel sector now.
Higher prices and political enmity will mean that heavy machinery, airplanes, cars, etc. will face headwinds in the export market.
Caterpiller and Boeing are already dumping out.
The National Security argument, the last resort. You can defend anything with that
Financial industry is nothing more than a pit of parasites that produces nothing. It only exists for its own benefit to skim productive assets for themselves while contributing nothing. Brokers will churn investors’ assets until said investors go broke while brokers and financial advisors gorge themselves on cocaine and hookers. And don’t get me started on the ill and scourge of humanity, the usual synagogue (((usurers))).
You’ve got anti-semitic Tourettes
Your comment is nonsensical due to your poor understanding what Tourette’s is.
Hahaha.
Regards
Chuck Bennett
I think there’s a good chance most of those industrial job families in the rust belt and Midwest shopped at Walmart when they were still employed in industry. That is, I doubt they consistently paid up for expensive American made products, but instead went for the low price, just as those seeking raw materials such as steel and aluminum do.
btw, I got tired of increasing poor quality made in China socks, they get shorter and thinner each year. I threw them all away, and purchased American made socks that are thick, comfortable and are more durable. They were expensive, over $25 a pair, and I’ve purchased about twenty pairs to stock my drawer. I’m not wealthy, but I was so annoyed
at lousy socks I spent some of my modest income on a quality product.
Unless
1. American consumers will recognize and pay up for quality
2. American workers can make quality.
3. American employers promptly increase wages.
this trade war isn’t going to turn out well.