Trump has gone full scale protectionism – and today said that globalization is dead.
But what he’s done is established one of the largest tax hikes on Americans in history: New study says American consumer pays all but 4% of tariff costs
During my entire career, we were told, as workers, we needed to work smarter, more efficiently and be more productive to out compete our foreign competition. The US also imported workers to directly compete with us. We were told that this led to the best economic efficiency.
20 years into my career, I earned an MBA. The concept and benefits of free trade was drilled into us.
Now, Trump tell us that globalization is bad for the United States. We must have high tariffs and ban foreign products because they build them better and sell them cheaper. We must have protectionism for American businesses so that they can sell lower quality products at high prices. This is the future, Trump says.
Which means either the experts lied to us in the past or they are lying now.
I am to the point I assume that 100% of what any expert say is an outright, self-serving. You should be thinking the same thing.
Trump and his staff are economic morons – and because of it, we are entering a period of dark times.
