How much more productive would small businesses be if they had to pay higher costs for American made goods? How much more productive would small businesses be if they produced labor intensive low grade consumable goods such as plastic cups instead of alloy casts for the production of jet engines?
David Ricardo.
As we now make chopsticks for China and small business has no growth ... GE is exporting advanced tech to China ... unemployment is 9% ... government has lost revenues ... increased demand on social services, perhaps you can explain how we are better off with free trade?
That's what I thought ... bringing up comparative advantage ... when it means absolutely nothing. Nice try.
You are confusing structural with cyclical unemployment. Globalization creates short term structural unemployment, but that's really just a "no ****" comment.
So will you quote trade openness next and how it will create x amount of jobs? There is nothing cyclical about the export of GDP and manufacturing jobs ... short term? They been being exported since the creation of NAFTA.
It means nothing to those who have a mercantilist POV. To each their own i guess.
Low skill, labor intensive jobs have been exported for lower cost goods since capital has been mobile.
How do you know? You don't even know what he promised.
I'm not ignoring your citations, I'm laughing at them. You are under the delusion that Barney Frank single-handedly shut down the Republican-led majority House and prevented Republicans from passing oversight.
Did Frank prevent H.R.1461 from passing in the House in 2005 (the same year as the video you posted)? Yes or no?
Actually tariffs were the roadblock to GDP exports and the importance of having free trade allows the access to the American market.
Another strawman. When did i compare this country's economy to China? When did i compare this country's wages with that of China?
It is besides the point. If you want to destroy my credibility, you must do so in the context of our discussion; more specifically, by the content of my posts.
Okun's law, fiscal multipliers, the growth rate relative to the rate of stimulus spending, and the output gap.
WTF are you even talking about. Not sure what the Chinese current account has to do with the topic at hand.
Consumer confidence will continue to closely mirror the credit conditions of consumers, and the solvency of global financial systems. When put into the proper context, how is the credit condition of consumers and the solvency of the global financial system?
The Chinese implement a stimulus package of about $586 billion (or 11.2% of GDP) for which $222 billion (4% of GDP) was attributed to public works.
The United States implements a stimulus package of $787 billion (5.6% of GDP) for which $111 billion (0.8% of GDP) was attributed to public works, nearly three months after the Chinese stimulus package.
What is so astounding is the success of such policy in China, even though the Chinese have a savings rate (which is critical to estimating the effectiveness) greater than the U.S. by many multiples.
It's a bit of a pointless argument because protectionism won't work. It would only end up driving inflation through the roof.
My posts are filled with logic, common sense, and review of facts. Until you are comfortable with the theory that underpins our economic system, it will continue to be painfully troublesome for you to actually understand my arguments, much less provide a valid response.
WE are in a liquidity trap. Fiscal policy combined with reformed immigration legislation is really the only way to circumvent such a reality.
It was small in a both a relative sense and economic sense. But you actually have to have a strong understanding of the macroeconomy in order to put it together.
Holy strawman. WTF does saving state jobs have to do with the post which you replied to? If you want to talk about state jobs and what not, start a thread. It is bad form to consistently interject random issues on a whim.
We only have hundreds of years of history proving protectionism does work. And protectionism is selective ... low wage economies are where comparative advantage is lost. Also note the last money printing spree by the FED drove up hard assets ... not inflation.
Again, you don't know what he promised so you don't know if he delivered.He didn't promise what he delivered
Who cares what they were promoting? They were in the minority party and couldn't prevent the Republican-led majority from passing oversight.Did Frank prevent H.R.1461 from passing in the House in 2005 (the same year as the video you posted)? Yes or no?
Are you telling me that Barney Frank and the Democrats weren't promoting home ownership for the poor and minorities? Keep looking backwards which prevents you from seeing the results of today
The world is a very different place now than it was then. You can't do selective protectionism. As soon as you put up trade barriers everyone else will retaliate by throwing up their own barriers.
Again, you don't know what he promised so you don't know if he delivered.
Let's start with you providing quotes of what you think he promised.
Either you can quote promises he made or you can't. So far, you haven't.I believe if you checked his campaign promises as well as the comments made by his administration you will see what he promised. I just showed what he delivered. Think he promised these results?
Who cares what they were promoting? They were in the minority party and couldn't prevent the Republican-led majority from passing oversight.
I asked you a "yes" or "no" question, are you going to answer it or are you going to run away from it ... ?
Did Frank prevent H.R.1461 from passing in the House in 2005? Yes or no?
Who cares what they were promoting? They were in the minority party and couldn't prevent the Republican-led majority from passing oversight.
I asked you a "yes" or "no" question, are you going to answer it or are you going to run away from it ... ?
Did Frank prevent H.R.1461 from passing in the House in 2005? Yes or no?
Why are you so terrified to answer the question I asked? I didn't ask you how Frank voted, I asked you ...Frank voted no on the Legislation. Suggest you find out why, now we cannot have regulations and control over Fannie and Freddie, can we?
Bill Summary & Status - 109th Congress (2005 - 2006) - H.R.1461 - CRS Summary - THOMAS (Library of Congress)
Why are you so terrified to answer the question I asked? I didn't ask you how Frank voted, I asked you ...
Did Frank prevent H.R.1461 from passing in the House in 2005? Yes or no?
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