Now there are lots of problems with the closing of free trade and the issues are complex let me just hint simplistically at a couple. The problem is that you get a hangover Neoliberal/free trade policies have slowly hollowed out industry for the last thirty years – even if all the factories of manufacturing that went abroad were closed today it would take time for it to get set up again in the US say up to five years. But that wouldn’t happen it, is likely to be much slower with a gradual increase in tariffs so we would probably be looking at 10 to 15 years for the pull back of industry. Now many of these industries are already taking the automated route in production and management in 10 to 15 years I wonder how many jobs would be produced for Ameicans to take. Also any hangover is going to be painful economically and those effects are likely to affect the disadvantaged more than the advantaged. The next thing is that many of the countries that attacked with tariffs also are the ones that prop up the US debt by buying US bonds.
Blabua, Who signed NAFTA. Reagan was a protectionist. Neocons and liberals pushed NAFTA that WILLIAM JEFFERSON CLINTON signed. I'd love to know how much $$$ Clinton made off of selling out American workers. It'd be hard to pick a worst president between Clinton and Obama. Probably Clinton. His housing policy caused our depression.
Balbus, No one but you is talking about closing free trade. However, Trump is going to dump NAFTA, shitcan TPP, and negotiate trade deals that benefit America and Americans.
You're right here. Our economy is on life support and losing blood pressure. But for fiat money, we'd of been declared dead a long time ago. In the end, reckless printing of fiat money in order to give people free shit will destroy the USA.
LBJ has been proved to have been an abject failure. It can't prove to have elevated a single person out of poverty. It has been proved to cause cyclical poverty.