What if America Never Exported its Industry? Doing so was the stupidest mistake in history

So they get old technology and they rely on our products going forward. Plus the US doesn't want to look like an imperial power, so let them have it.

 

That's a little bit more of a complicated economics question, how much of the burden of a tariff falls on the exporter country and how much on the consumer in the importing country.

It depends on the exact shape of the supply and demand curves. You can get some idea of what that calculation might look like in this graph:
tax_burden.jpg (544×585) (ezyeducation.co.uk)

This is something pretty basic they teach in first year level economics classes.

 

It depends on the slope of the demand curve. The less elastic the demand curve is, the more of the burden falls on the exporting country.

A less elastic curve means the demand quantity does not increase very much with decreases in price.

 

If we had not exported electronics and other consumer goods to cheap markets, then chances are that they would still cost a lot more than they do now and those factory workers would still be earning a pittance just as they do here and all over the world right now. On top of that, we would also have a lot more industrial pollution.

 

He is obviously ignorant to the real world...
They could have easily allowed China in, they only had to tariff in the 80s when it started. Plus hold the line on taxing the rich. Both of which Reagan and Bush folded on. Thus, we have a developing 3rd world country under our feet. I spend every day preparing for my daughters lively hood 30 years from today.
I feel ashamed and guilty for bringing a person into this sh*thole

 

"CHANCES ARE" just like a good GOP hack

 

Johnson Inc makes a widget in the USA for $50.00
Johnson finds out they can make it for $10.00 for in china.
Great, Johnson can go to china for 10.00, but when he brings it into this country he must pay the $40.00 difference. We can even help him and china advance by allowing it to be $35.00, not 40.

America would not have lost the jobs had the political class had the balls to hold this line. It didn't even need be 1 for 1. Just some type of real tariff. In place, we sold propaganda to the shepple and busted up the unions and decent pay rates. Now, you have an America with no mfg., just cheap service jobs. The people that sold it to you are billionaires. They pay other people, like RNC, DNC, lobbyist to Zombify your brain that cheaper goods are a good thing...
Of course we are on the backend of this disaster... The politicians just hope it last long enough to get the Pension funds of real paying jobs thru the system. Another 20 years without collapsing. It would have had the maestro not went uber low rates in early 2000s, then 08 happen and debt exploded. This all falls apart within 5 years, max.
They will call for a reset, jubilee debt to government and banks, you will keep your debt, pension funds will be cut in half and the entire country will lose 50% of its wealth. We will be Brazil, Mexico, or something close to 3rd world. Your house value will be cut again, down 60% Gonna be a huge mess....

Just like when 2008 came, they pay people to post online, to tell you all is well. That is what the FED and Globalists do. Sell the lie, then once it hits, they disappear. Never to post again. What you read now and see on TV is lies and propaganda, nothing more. Weather it be from the right wing or left.

 

"We" didn't export electronics to cheap markets. (Maybe you are not sure exactly what those terms mean)
The "market" stayed in the US. It was the production of those consumer goods that was outsourced.
Are you saying it's better to move that industrial pollution over to China than to have it in the US? Even though the pollution will likely be a lot worse in China?
Your argument is looking pretty disingenuous now.

Not only that but those factory jobs did not only consist of low level workers but also good-paid workers like engineers, accountants, managers, who were employed by these factories and companies.
The reason the factories moved to China was because the workers could be paid 5 times less there.

 

All the crap that is manufactured around the world and sold into US markets...how much of it is actually 'things we need'??

It all boils down to economics; the business plan must make sense. Like it or not, much of what is produced around the world and sold into US markets, simply does not make economic sense to produce in the US.

I do agree the US should produce it's own essentials...like food and science...

 

It's business...as long as we have a capitalist economy, it's 100% up to business to decide what and where to produce. People derive a lot from healthy business...

 

The consumer...

 

Tariffs...or tax...is ultimately paid by the consumer. No tariffs, or tax, is charged to the exporting nation.

Increased taxes to a business becomes an expense to that business and is therefore passed onto the consumer in higher prices...

 

The I sure hope you like motels.

Why? Because gasoline stations would all close at 9:00 PM, so you'd have to stop for the night when traveling long distances.

In fact, you wouldn't have 24 hour anything, retail and grocery would be closed on Sundays and close earlier during the week.

And your Standard of Living would be way lower than it is now. In fact, your Standard of Living would be akin to early to mid-1970s.

But....there's good news.

You can manufacture everything. You just need a population of 750 Million to do that (given an E-Pop Ratio of 61%-64%).

So....are you going to open your borders and let 430 Million foreigners flood in, or do you plan to send the Army and Marines to other countries, kidnap 430 Million people, and bring them back to the US?

For half my adult life, I'd be walking down streets and never hear a word of English spoken.

That doesn't bother me. Would it bother you? How would you like to be a minority in your own country?

 

or the corporation, whoever chooses foreign products over American

 

NO...the consumer pays the tariffs...

 

that is what I said, those that choose foreign products over American will pay the same as if they had bought American

 

Not true...even with the cost of tariffs added to consumer prices, most are still less expensive than the same US-made products. Further, most of those imports will never be made in the US...