Perry Glasser

Archive for March, 2018|Monthly archive page

TOUGH TARIFFS

In Business, Economics, Economy, Political Economy, ROBERT REICH on March 9, 2018 at 2:15 pm

This is about jobs, real jobs, not service economy jobs, not digital economy jobs, not jobs that require mortgaging one’s life for a fortune in educational debt, but high-paying jobs that can be performed by anyone with a strong back and will.

screwed1

Citizen

Tariffs are one of those simple topics every Citizen should understand but the Powers That Be (PTB) have designed American education to make the topic obscure and seem arcane, the better to screw Citizens.

Dollar$ once again finds himself with his standard disclaimer, declaring that President Donald Trump is a boorish lout, but that another of his economic policies make great sense.  We did not elect a Pope.

Readers who find that distinction difficult are advised to read no further. One can always turn to Professor Robert Reich, the former Secretary of Labor who, like Napoleon on Elba, gazing to the far-off corridors of power he expected to walk with Hillary Clinton, declares himself to be the leader of what he calls The Resistance, which may be an insult to the Free French of WW2 or an homage to the Star Wars futuristic fantasies. Professor Reich, too, longs for a galaxy far, far away and offers all the bias confirmation anyone can stomach.

robert reich

NOT A RESISTANCE FIGHTER

But Dollar$ revels in the here and now among realities.

TARIFFS

Do be sure, a tariff is simply a tax on designated imports, in today’s news the imports in question are steel and aluminum.

Weasel-Republicans reflexively clutch at their hearts and gasp for breath at the word “tax.” What’s this? A Republican president has raised taxes!!! Is he mad???

They clutch at their hearts because the Buccaneers who write the large checks that buy Weasel-Republicans may be displeased. Nothing terrifies a Weasel more than a situation than an ambivalent issue that calls for voting with conscience. They have no conscience—they have opinion polls. When opinion polls are closely divided, Weasels go mute.

buccaneerDevoted to profit and personal enrichment, Buccaneers expect to get what they pay for, especially those Weasel-Republican members of Congress who need their money to run for office and keep them in healthcare for life, periodic international fact-finding junkets, and provides them prestige among the naive.

Gifted with a vision that equates American purpose with their own, many Buccaneers fear tariffs. If their supply chain becomes more expensive, they may make less profit, though Dollar$ readers should by now understand that Buccaneers never pay taxes at all; they pass along taxes price increases.

Price increases are paid by you and me, Citizens.

What, you expected Buccaneers will accept less money? What are you smoking; why don’t you share?

TRUMP’S TARIFF

Start by knowing that in 2016 China produced about 50 percent of the world’s steel. (Figures are from the World Steel Association report of 2017). At the same moment in time, the US, Mexico, and Canada COMBINED, produced less than 10 percent.  The trend over the prior decade was Chinese growth and NAFTA decline.

In real life terms, that means Citizens in Indiana and Pittsburgh no longer have the option of a high-paying job in a steel mill; those jobs are gone to places where labor accepts a fraction of what an American expects hard labor to pay, and, in the case of China is substantially subsidized.

Could it be that the President is fulfilling a campaign promise? America First? Working people’ well-being? Leveling an uneven playing field?

Terrified Weasels, Buccaneers, and professional intellectuals point at retaliatory trade wars.

Yellow Mongoose

This Weasel is really a mongoose in disguise.

Pooh.

The trade balance for years has been negative and growing ever more negative—the US imports far more than it exports. Retaliatory tariffs will, in the end, punish the greater exporter—and that ain’t us.

BOTTOM LINE

Dollar$ says, “It’s about time.”

The same professional intellectuals who bemoan that job creation in America means nothing but burger-flipping need to stand up for working men and women.

 

 

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