We should strive not being effectively dependent upon any other nation.

[initforme]

I agree with the OP. Businesses should not be going overseas because it's cheaper. No American should work for wages that other nations work for.

 

[Supposn]

Then we don't ask ... we didn't ask The Indians.

FNCCEO, decent U.S citizens acknowledge, but are not proud of our nation's policies relative to the Indian nations. The Viet Nam war was economically, politically, and socially disastrous to our nation; and your advocating war with Australia and all of her allies to obtain rare earth minerals? Reconsider what you're proposing. Respectfully, Supposn

 

[fncceo]

Reconsider what you're proposing.

Or what?

 

[Supposn]

I agree with the OP. Businesses should not be going overseas because it's cheaper. No American should work for wages that other nations work for wages that other nations work

Transcribed from the thread, "Milton Freedman knows the truth":
Toffeenut BaconSmuggler, many do not disagree with the facts professor Friedman presents, but a substantial proportion of others among credible economists' logical conclusions differ from his. Friedman doesn't refute a trade deficit nation's negative balance of trade indicates their net consumption and production expenditures exceeded the value of their entire gross domestic product, (their GDP).

Despite this fact, and USA's negative net balances of international trade being chronically being among, if not always the greatest of the world's trade deficit nations each year, Friedman contends USA's annual trade deficits are not net detrimental to our nation's economy. Many other credible economists argue otherwise.

I agree with the too few proponents, (that are not yet a substantial proportion among credible economists), advocating for USA adopting the improved trade policy described within Wikipedia's “Import Certificates” article.
Refer to: Import certificates - Wikipedia
Respectfully, Supposn

 

[sealybobo]

Seriously?

View attachment 693169

I forget which one was Australian?

I think the black guy was an Aborigine.

 

[Ringo]

Super rich hold $32 trillion in offshore havens

Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

www.reuters.com

You better take care, that your own bourgeoisie does not steal money.
Interestingly, the article is 10 years old, how much has this huge bill increased?

 

[fncceo]

Super rich hold $32 trillion in offshore havens

Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

www.reuters.com

You better take care, that your own bourgeoisie does not steal money.
Interestingly, the article is 10 years old, how much has this huge bill increased?

If they're actually "hidden", then no one will know about them.

If they are placed in "tax havens" then that is not hidden, but a tax code compliant, and perfectly legal, way of keeping your funds.

If people have a problem with others using the tax code as it is written, then they should take it up with the people writing the tax code. The same people they elect and send to Congress.

You can't blame any person for legally complying with tax code any more than you can blame an athlete for using legally sanctioned sporting equipment in a competition. If the law says you can run in shoes, you're a fool to run barefoot.

 

[Flopper]

USA should strive not to be effectively dependent upon any other nation. Until we've discovered a synthetic substitute for rare earth materials necessary for the production of essential electronic devices, our federal government should pay a sufficient bounty to make the salvaging of such materials from discarded electronic devices commercially feasible.

The federal government should be stock-piling such materials. I hope the congress has for many years been appropriating funds and USA has for years been striving to discover and learn to mass produce synthetic substitute for rare earth materials. Respectfully, Supposn

We depend on other nations because we choose to do so. The average annual wage in China is about $4,500. The average wage in the US is about $51,000. The US has better trained workers and factories that make better use of workers but not ten times better. It doesn't make sense to strive for total independence. I doubt many Americans would want to pay $7,000 for a cell phone that they now pay a $1,000 or cars built in the US will all parts made in the US which would cost nearly 50% more. Each nation should be allowed to produce what it produces best.

 

[Supposn]

We depend on other nations because we choose to do so. The average annual wage in China is about $4,500. The average wage in the US is about $51,000. The US has better trained workers and factories that make better use of workers but not ten times better. It doesn't make sense to strive for total independence. I doubt many Americans would want to pay $7,000 for a cell phone that they now pay a $1,000 or cars built in the US will all parts made in the US which would cost nearly 50% more. Each nation should be allowed to produce what it produces best.

Flopper, I do nor believe USA workers are better trained than other industrial nations' workers. My understanding is USA workers in aggregate received little or no vocational training and are inferior to those of most other industrial nations. I know our academic students are inferior to those of many industrial nations. In the USA, we indicate our respect by increasing salaries. USA doesn't respect educators, and we get what we paid for. Respectfully, Supposn

 

[Supposn]

We depend on other nations because we choose to do so. The average annual wage in China is about $4,500. The average wage in the US is about $51,000. The US has better trained workers and factories that make better use of workers but not ten times better. It doesn't make sense to strive for total independence. I doubt many Americans would want to pay $7,000 for a cell phone that they now pay a $1,000 or cars built in the US will all parts made in the US which would cost nearly 50% more. Each nation should be allowed to produce what it produces best.

Flopper, I'm among the too few proponents of the improved proposed unilateral trade policy described in Wikipedia's “Import Certificates” article.

Import Certificate policy would almost, if not entirely eliminate USA's chronic annual trade deficits of goods. The policy's costs are indirectly paid by U.S. purchasers of imports, and to the extent those expenses exceed federal fees (EXPORTERS OF USA GOODS CHOOSE TO PAY), it's an indirect price subsidy of USA's exports.

A nation's annual trade deficit indicates their net expenditures for consumption and production exceeded their entire gross domestic product. Trade deficits are detrimental to USA's wage-earners, wage-earners' dependents, and enterprises sensitive to the financial conditions of those great proportions of our population.

Refer to Import certificates - Wikipedia Respectfully, Bernard Belitsky

 

[Flopper]

Flopper, I do nor believe USA workers are better trained than other industrial nations' workers. My understanding is USA workers in aggregate received little or no vocational training and are inferior to those of most other industrial nations. I know our academic students are inferior to those of many industrial nations. In the USA, we indicate our respect by increasing salaries. USA doesn't respect educators, and we get what we paid for. Respectfully, Supposn

In China, about 70% of the students are completing the 12 grade compared of 86% in the US but the percent of total population that completed high school is only about 50% since it includes older workers. However, China has started putting a lot of resources in tertiary education.

Although China has many high tech manufacturing plants with tens of thousands of workers about half of all manufactured goods come from very low tech small plants, 1,000 to 3,000 sq. feet. These plants produce items that are labor intensive due lack of expensive high tech equipment. Worker are low payed and less educated compared to the big manufacturing plants.

By comparison China has about 2.9 million manufacturing plants compared to about 290 thousand plants in the US.

 

[Supposn]

We depend on other nations because we choose to do so. The average annual wage in China is about $4,500. The average wage in the US is about $51,000. The US has better trained workers and factories that make better use of workers but not ten times better. It doesn't make sense to strive for total independence. I doubt many Americans would want to pay $7,000 for a cell phone that they now pay a $1,000 or cars built in the US will all parts made in the US which would cost nearly 50% more. Each nation should be allowed to produce what it produces best.

Flopper, I regret the title of my thread implies my advocating USA could and/or should strive to our nation to be absolutely economically or politically isolationist. I'm not opposed to foreign trade, but I'm absolutely opposed to our nation experiencing annual trade deficits.

However: (A) It's not unlikely that the USA will be at critical disadvantage due to, (if not at present then in the future). our inability to produce computers, and are allies inability or unwillingness to assist us.
Our nation is now fully justified to spend what's necessary in order to salvage and stock-pile those metals, and to strive to create a substitute for those rare minerals. Even if we fail to create a substitute, (similar to our nation's other great expenditures for scientific research), our efforts may likely be of substantial economic benefit to our ourselves and the remainder of the world.

(B) A trade deficit indicates the nation's net production and consumption expenditures exceeded the values of their entire production during the reported duration of time. Trade deficits are particularly detrimental to their nation's wage earners, wage earners' dependents, and enterprises more dependent upon the financial conditions of those great segment of their population.
Import Certificate policies purpose is to prevent their nation's experiencing annual trade deficits of goods and possibly serving as an indirect price subsidy of their exported goods. USA adoption of it would be to our economic and social advantage.
Refer to Import certificates - Wikipedia . Respectfully, Supposn

 

[Flopper]

Flopper, I'm among the too few proponents of the improved proposed unilateral trade policy described in Wikipedia's “Import Certificates” article.

Import Certificate policy would almost, if not entirely eliminate USA's chronic annual trade deficits of goods. The policy's costs are indirectly paid by U.S. purchasers of imports, and to the extent those expenses exceed federal fees (EXPORTERS OF USA GOODS CHOOSE TO PAY), it's an indirect price subsidy of USA's exports.

A nation's annual trade deficit indicates their net expenditures for consumption and production exceeded their entire gross domestic product. Trade deficits are detrimental to USA's wage-earners, wage-earners' dependents, and enterprises sensitive to the financial conditions of those great proportions of our population.

Refer to Import certificates - Wikipedia Respectfully, Bernard Belitsky

“Import Certificates” are good idea but now. Inflation due to supply chain delays and now China's production problems is not the to try and reduce the trade deficit. The trade deficit has been falling since April.

 

[Supposn]

“Import Certificates” are good idea but now. Inflation due to supply chain delays and now China's production problems is not the to try and reduce the trade deficit. The trade deficit has been falling since April.

Flopper, if it were possible to pass and sign off on the Import Certificate trade policy "overnight", and enact it within 365 days, why do you believe Chinese manufacturers would have any greater production and delivery problems next year, than they have this year?

Proponents of "free-trade" argue as if, similar to a women cannot be "less or "more" pregnant, a nation cannot practice more or less "free-trade". If that were true, the USA has never been a pure free-trade nation, and the only "pure" free-trade nations are those that have absolutely no controls of their own borders.

Free-trade proponents don't often speak of “pure” free-trade, because no government actually enforces such a policy. Import Certificate policy does not favor or disfavor among foreign nations. or industries. Other than not being applicable to specifically listed mineral materials integral to globally traded goods, it doesn't favor or disfavor among tangible goods; it is not “pure” free-trade, but it's supportive of trade among independent competitive participants. Respectively Supposn