The Payoff From Globalization
So cool! Thanks for sharing.
So cool! Thanks for sharing.
I wish I were naive enough to believe that, Brian. China and others are loaning us back our money so we can keep buying from them with borrowed money, and most importantly, so we must buy from them, not much unlike becoming an addicted victim of a drug dealer.I guess I'm naive. Can you explain the difference between a trade deficit and a federal budget deficit and how EACH ends up being owed to "China and others"? Bonds are obvious, but perhaps you mean something else? Or, are you saying our government borrows money to buy things from the Chinese (and others)? Clue me in.
or more likely, our downgraded population no longer can stomach the bill for Republican economic nirvana.Downgraded population? Do you really mean that? In a relatively free market democracy, if the population "downgrades", wouldn't that be by its own choice? As a member of said population, wouldn't one want to prevent that by personally trying to excel in whatever environment confronted with? And by promoting the idea that others should be given the opportunity to do the same, without unnecessary obstruction? Don’t you think that by promoting protectionism, and therefore lack of excellence and innovation, one would be doing a disservice to the fellow "population"? If not, why not? It sounds simple enough to me. Expounding upon some of the quotes from your article citation, how will we protect textile workers when robots can do it all? How are/were people protected from IT innovations? "Sorry, you can’t make that interface. A person has to type that." Incidentally, the NYT had an editorial on CAFTA today. (Politically-necessitated disclaimer: I have not read CAFTA, and I’m not specifically referring to it in my words above).
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