| sc94597 said: Is China really winning big time in the last year or so? Their artificial bubbles are about to burst, and a few of the smaller ones have already done so. Exporters, like mainland China, are racking up deficits too, just not by the same means and not in the same way. China's total debt as a percentage of GDP is something like 268%.1 I mean there is a credit bubble in China just waiting to burst, and it is going to burst quite massively when it does. Deficits aren't caused by a loss of manufacturering jobs, but principally by overspending on the part of governments, and China's government is as bad as it gets. Also economic independence is a fantasy land in today's world. Too many people benefit from trading with people in other countries. To have economic independence (if a thing ever existed) is silly. It is the concept of state socialists like those found in Cuba, U.S.S.R, North Korea, and Venezuela that a country can have "economic independence." It has no place in a free-market society based on the private ownership of the means of production by individuals and not nation-states. So what are Trump's solutions to all of this? Probably just as bad as Bernie's: tarriffs and exit taxes. Sorry those are archaic ideas left in the time of mercantilism. If we want to have costs of living go through the roof then we should vote for Trump. Otherwise I don't want to spend more for my clothing, electronics, and home appliances just because a group of people pushed all of their opportunities out of this country by unreasonable wage and benefit demands and now want protectionism to benefit only them. Sorry steel workers and car manufacturers, demanding $70,000 (when adjusted for inflation) salaries in the 1960's and 70's was ridiculous and foolish and they are now paying the consequences for it. Don't make the rest of us pay for their mistakes. |
That's household and corporate debt included with the public debt, right ? Anyways I was talking about exports and China is still very much the winner compared to America owing just about every country ...
If your sources have taught me anything, most of the deficit is owned by the likes of individuals and corporations and not by governments ...
Total economic independence is unrealistic at this point but it won't be impossible for highly developed countires to be largely economically independent when automation will come, a huge epiphany is going to strike just about everyone ...
Tarriffs probably aren't the best thing but sooner or later everyone is going to have to stop overstepping their spending bounds ...
