Re:Trump's Tariffs Wipe Out over $6T on Wall Street in Epic ...
by tasuki on Saturday April 05, 2025 @09:59AM
(#43593608)
Why was it not sustainable? Clearly the houses were there, and the non-working spouses, and the car and the children...
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Re:Trump's Tariffs Wipe Out over $6T on Wall Street in Epic ...
by renata on Saturday April 05, 2025 @12:17PM
(#43594548)
Well, we can't count on the entire rest of the world having all their factories bombed and being the only nation with reasonable manufacturing capability all the time.
Re:Trump's Tariffs Wipe Out over $6T on Wall Street in Epic ...
by jordanb on Saturday April 05, 2025 @06:14PM
(#43597251)
The US was not an export-focused economy in the 50s and 60s. In fact trade as a percent of GDP bottomed out in those decades. Arguing that the prosperity for the average person was only "sustainable" in an environment where there wasn't foreign competition is an argument for tariffs.
https://www.stlouisfed.org/on-the-economy/2020/march/evoluti...
Re:Trump's Tariffs Wipe Out over $6T on Wall Street in Epic ...
by tasuki on Sunday April 06, 2025 @01:32PM
(#43603183)
In what way would the citizens of the US have been worse off had the rest of the world had reasonable manufacturing capability? I'd have thought that either it'd be the same, or better, because same production + trade.
Re:Trump's Tariffs Wipe Out over $6T on Wall Street in Epic ...
by lunarlull on Saturday April 05, 2025 @12:10PM
(#43594498)
It was the US benefiting from its position on the world stage as to why that was possible. The US was never and is not going to retain it's position on the world stage, and indeed under Trump it is radically declining.
The US is going to normalize with other western nations as we enter a multi-polar world.
The problem is Republicans don't accept that and think they can return to the 1950s.