America grew rich and powerful from 1787–1962, a period of 175 years, using tariffs, subsidies and other barriers to trade to nurture domestic industry and protect high-paying manufacturing jobs.
One of my major theses is that in times of too much debt and too little growth, countries resort first to currency wars and then to trade wars and then finally to shooting wars to steal growth from trading partners and geopolitical rivals. The problem with currency wars is that all advantage is temporary and […]
President Trump and President Xi had been on a collision course involving issues of trade, tariffs, and currency manipulation, which are coming to a head.
The problem is that this prevents the poor and middle class from enjoying lower prices for the products and services they buy; the rich don’t care if prices rise as they can easily afford higher prices for consumption goods. The rich will also benefit by the rise in the price of the huge amount of […]
GDP = C + I + G + Net Exports (Exports minus imports) where,
The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved. Ludwig von Mises
What most surprised me about the new trade war was not that it started, but that the mainstream financial media denied it was happening for so long.