Alibaba's Jack Ma backs down from promise to Trump to bring 1 million jobs to the US

[Benton]

(09-20-2018, 08:35 AM)Au165 Wrote: Bad for American consumers too in that all the people are going to be paying more.

(09-20-2018, 08:48 AM)GMDino Wrote: And you don't think that American companies, after decades now of all benefits, aren't going to punish the American Workers before they take a hit themselves?

Unfortunately, we've gone too far to the capitalist side of economics. Part of the reason our economy was as strong as it was had to do with a balance between socialist policies offset by capitalistic investment. But we let the capitalist side of things run wild, which is part of the cause for the Great Recession and why our current economy won't budge too much.

End of the day, if it costs too much to buy a tv, people won't buy a tv. You can either lower the cost (which is what we've been doing by moving jobs out of the country) or increase consumer buying power (which is what we haven't done by going forward with lopsided trade agreements, declining to look at a realistic wage scale, having real tax reform, etc.). It's going to get worse before it gets better, but we're getting to the point where there aren't enough jobs to support the economy. We can either use tariffs to encourage businesses to return home, or we can continue to ship jobs out of the country until we get to where nobody can afford much of anything.

Tariffs are good, we just have to ride out the short-term.