We currently have free trade agreements with many communist countries that control the value of their dollar versus our own dollar.
while philosophically for ‘Free Trade’, i have made the point myself in off-line debates that ‘Free Trade’ with a slave economy ( communist dictatorship ) is a contradiction in terms and physically impossible.
in my opinion, normalization of relations with China was by far the most destructive thing Nixon / Kissinger ever did to this country. you’ll notice that that is the only thing the news media ever speaks positively about him though. they still drool over Kissinger.
Todd, I have to respectfully disagree with one of your points. We have not priced ourselves out of the global labor market. We are trying to compete in a game we cant win.
not true. we aren’t ‘competing’ successfully with Mexico, Ireland, India, Malaysia, etc. non of these countries are Communist dictatorships.
China is a symptom, not the problem. they’re just the best at exploiting our problem.
we gave every other country on the planet a knife and then hog-tied ourselves. now we wonder why they’re cutting slices off. duh. because we’re fat and they’re not.
They can live on 50 dollars a week, because of the cost of living … So what if a the price of a hamburger goes up.
you contradict yourself here. either the COL matters or it does not. given the ease with which 3rd world countries sell products to us i would suggest that it matters a great deal.
you’re also ignoring the impact that minimum wage laws have on artificially inflating the price of our own labor. which is why the US is so irresistable to illegal aliens. they can work ‘off the books’ for half of the legal minimum and still make 10x as much as they would at home.
don’t even get started on the whole ‘free health care from the hospital emergency room’ thing.
The “average” income is affected more by Bill Gates than the “median” - he’s still just one person.
the only problem is, at his height Gates was equivalent to 2 million households earning $50,000. he’s still worth 1 million $50,000 households today.
wait, i said that wrong. i don’t have a problem with Gates making that much money. i had a problem when Greenspan said that he would exclude executive compensation when calculating wage inflation. that was patently absurd and a large part of the reason why we’ve been having these speculation bubbles rolling around to various parts of the economy for the last 20 years. when you’ve got a spare $10 billion sitting in your pocket it’s hard to restrain your spending on cars/art/real estate/etc. and why should you?
for you clinton fans it was he who pushed it with the nafta bill or however you say it.
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while i have no fondness for Clinton it must be admitted that the result would have been no different with a Republican. but then, i don’t have a problem with free trade between nominally free economies.
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NAFTA had no effect on our trade deficit with China. being the “North American Free Trade Agreement” and all.