THE ERA OF TRUMP

[Smitty-48]

Well, at one point America had an agrarian economy and then it transitioned to a industrial economy and now it's transitioning into something else, America has reinvented itself before, but if it can't do it again, then yes, America will start trending down wealth wise, but I don't think it's gonna go that way, although some people will be displaced in the transition, same as it always was.

[Speaker to Animals]

After Trump took some rest from venting on Twitter about how Comey leaked classified information and should be held accountable, he decided to pardon Scooter Libby from Libby's conviction on leaking classified information that exposed a clandestine CIA agent and possibly endangered foreign assets.

[DBTrek]

1) So you don't want to return the "lost" middle class jobs back to America?

How? Tariffs? Because charging domestic steel consumers high prices for the commodity while the rest of the world uses the cheapest steel on the global market is going to cause a spike in demand for American steel? That’s crazy talk. When shit costs more people buy less. When all steel costs American producers and consumers more (due to import tariffs or buying American) people aren’t suddenly going to be like “We need MORE steel at these artificially high prices!”

2) I think you're incorrect about today's middle class

I think your assessment fails to consider relative worker productivity and the costs of bridging distance. An alternative source of labor must offer the same or better productivity at a lower total cost before it’s a viable alternative.

[Zlaxer]

I think your assessment fails to consider relative worker productivity and the costs of bridging distance. An alternative source of labor must offer the same or better productivity at a lower total cost before it’s a viable alternative.

No - the quality of the service just has to be "good enough" not to draw the attention of stock holders....just look at the financial and legal industries....same with the IT field....

[Smitty-48]

1) So you don't want to return the "lost" middle class jobs back to America?

How? Tariffs? Because charging domestic steel consumers high prices for the commodity while the rest of the world uses the cheapest steel on the global market is going to cause a spike in demand for American steel? That’s crazy talk. When shit costs more people buy less. When all steel costs American producers and consumers more (due to import tariffs or buying American) people aren’t suddenly going to be like “We need MORE steel at these artificially high prices!”

It's not even the case that the rest of the world would have to use the cheapest steel, if America has the most expensive steel by government imposed artificial price increase, the rest of the world just has to use slightly cheaper steel, that's enough to gain the edge on America.

And of course if steel is most expensive in the USA that could actually drive steel consuming companies in America offshore to get the better prices.

[DBTrek]

I think your assessment fails to consider relative worker productivity and the costs of bridging distance. An alternative source of labor must offer the same or better productivity at a lower total cost before it’s a viable alternative.

No - the quality of the service just has to be "good enough" not to draw the attention of stock holders....just look at the financial and legal industries....same with the IT field....

Good enough not to draw the attention of stockholders is “equivalent to” American alternatives. For instance, some Indian IT tech support is about 80% as productive as Americans, but only costs 45% as much. Added bonus, they’re awake when US workers are sleeping - So investing in tier 1 desktop support in India makes sense.

On the other hand, Indian manufacturers are only about 15% as productive as Americans. Meaning even if they demand only 20% of an American wage, using them is still a net loss. Probably explains why you don’t have a single thing with a Made in India tag on it.

[Smitty-48]

Bear in mind, the US is not even a big market for Chinese steel anymore, there's already been tariffs on Chinese steel for years, so they shifted to other markets, so it's not going to damage them that much, but it could drive steel consuming industries in the USA to other Asian and European countries to get out from under the American protectionist malpractice, the alternative doesn't have to be Chinese steel, but it could be Korean, German, Brazilian, just has to be cheaper doesn't have to be cheapest.

[DBTrek]

We still getting reamed on intellectual property tho. What’s the point of paying the best minds in Silicon Valley to innovate shit when China and India will illegally duplicate, copy, or Pirate the results in a week and jack emerging markets?
Assholes.

[Speaker to Animals]

It's hurting most Americans and it has to stop. Of course Canadians want this shit. They get rich off it, and if we cut the world off from feeding on us like leeches, Canada would go back to being a shit hole.

If I were Canadian, I'd be all for 'free trade' too when the alternative means I have to go back to being Canada of the 1980s. Fuck them. We have to look out for our own interests, and none of this is in any of our interests.

[Fife]

We still getting reamed on intellectual property tho. What’s the point of paying the best minds in Silicon Valley to innovate shit when China and India will illegally duplicate, copy, or Pirate the results in a week and jack emerging markets?
Assholes.

The econ topic is a little heavy for most, but not for you: https://www.amazon.com/Against-Intellec ... 004HO5IQG/