Monday, January 13, 2020

A comment somebody else wrote at the Wall Street Journal about Trump's ridiculous trade wars.

"Yet with each new tariff—on dishwashers, solar panels, aluminum, steel and more than $300 billion of Chinese imports—the economy remains robust, wages continue to rise, and inflation stays muted."

Navarro with the worst, most facile propaganda. Tell that to farmers or people who've had to buy washers and dryers.

Trade didn't cause those dislocations, automation and productivity increases did. According to MIT, in 1980, it took 25 workers to produce $1.0 million in real economic output. Now, it only takes 5 workers. Literally, 80% of manufacturing jobs have been lost to automation and productivity increases.

The problem with Navarro is that he uses dishonesty to attempt to make his points. That's why he fits in the Trump administration, where dishonesty is an operating principle.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.