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I really believe that perhaps the biggest reason our economy sucks and incomes of the middle class have been stunted is all the money going to China and to the middle east. If all that money stayed here, unemployment would drop and everyone's quality of life would improve quickly.
Screw the Chinese, we don't need to buy their stuff, we don't need to pay them back. If they are this great rising power, let them do it without us.
I say:
1. Default on the Chinese Debt
and
2. Stop all things imported from China
or - tariff the goods to the the point where we can make the items here for
about the same price.
If one of the big issues is paying back our debt, of which China is the biggest lender, why do we have to pay it? Why do we worry about our credit rating unless we are spending more money than we have, forcing us to borrow elsewhere.
And, if one big reason that the middle class is shrinking and manufacturing jobs are disappearing is all the cheap imported Chinese goods, lets stop buying them or at least make them on an equal price level as US goods. Use the tariff money to pay down the rest of our debt, balance the budget and give loans or credits to companies willing to make these items in the US.
Yes, there would have to be a major transformation in the economy here. Yes that would mean some things would get more expensive. But mostly discretionary items that are not vital. You have a cell phone, TV, computer, etc. The basic stuff like food, gas, electricity, cars, etc would stay about the same. If someone really needs to be the first to get the new Iphone 10 or whatever it will be, they are going to have to pay the price of U.S. jobs lost to make the product in China.
And if we are going to import products at all, lets import from Mexico, not China. More jobs in Mexico instead of China would help their economy, shrink immigration and make the cartels less powerful because more people would have jobs instead of working for the cartels.
Then get congress to concede two things:
1. Agree to all the oil drilling everywhere to greatly increase production.
2. Fund heavily all alternative vehicles to lower oil usage so we won't need to but any more foreign oil.
Both the left and right would have to give in on this to make it happen.
Putting all this together would get us on the right track and keep our dollars here where they belong!
Our credit rating would plummet, we wouldn't be able to refinance our debt, we couldn't borrow money except for exorbitant interest rates, we would have product short-comings until our manufacturing sector is rebuild, the resulting products would be much more expensive than currently.
Our credit rating would plummet, we wouldn't be able to refinance our debt, we couldn't borrow money except for exorbitant interest rates, we would have product short-comings until our manufacturing sector is rebuild, the resulting products would be much more expensive than currently.
So we just stay stagnant in this lost decade with a debt burden that will keep a cap on any future recovery for the foreseeable future.
Or, we do something really bold that might work in the long run
Our credit rating would plummet, we wouldn't be able to refinance our debt, we couldn't borrow money except for exorbitant interest rates, we would have product short-comings until our manufacturing sector is rebuild, the resulting products would be much more expensive than currently.
When you consider the fact that WalMart is the largest single employer and that 90% (yes I'm just be rhetorical) of the goods sold at big Boxes closing off imports from China would have, shall we say and interesting affect on the U.S. economy. I might add that a manufacturing sector that depends heavily on Chinese made parts and materials would find making widgets a bit difficult.
I summary, we might as well put a gun to our economic fracking head and pull the fracking trigger!
When you consider the fact that WalMart is the largest single employer and that 90% (yes I'm just be rhetorical) of the goods sold at big Boxes closing off imports from China would have, shall we say and interesting affect on the U.S. economy. I might add that a manufacturing sector that depends heavily on Chinese made parts and materials would find making widgets a bit difficult.
I summary, we might as well put a gun to our economic fracking head and pull the fracking trigger!
Or, we do something really bold that might work in the long run
There is bold and then there is suicide. Each has its place but you need to pick which one you really want to pursue.
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