Donald Trump's Economic Policies

I always thought protectionism was a bad thing and free markets were the way to go. Can someone explain if/why Trump's policies are good and if they will work?

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>Protectionism
>bad

Wew lad we got fucked in the ass by c-afta here soon. Isn't that bad overprotective local made product.

Free markets within your own country is good. Having free trade with other countries is not always good. For example, China has basically no regulations or standards, so they undercut the fuck out of American wages and thus our jobs ship overseas.

>but muh GDP growth
Yes, but I don't give a fuck about that. I'd rather see wages grow.

As in all things - with moderation.

Free trade can be good, protectionism can be good, nationalization of certain industries can be good, but all in moderation.

It's only when you go too far in any particular direction that things start going awry.

>economic sanctions on currency manipulators is protectionism
no

Can the same be said with any ideology?

Protectionism is what made Americaa great in the first place and it's what it needs in this time of economic decline. I suggest you read "Bad Samaritans" by Ha-Joon Chang if you want to expand your knowledge on this topic, this is an excellent book and in fact reading it convinced me Trump is right on economy.

>the free market

my condolences but there is no way to explain it in any way you could ever understand.

What is meant by "currency manipulation"? I hear Trump talk about it all the time but I never bothered to look it up

The US is already highly protectionist in many regards, with many industries receiving subsidies or being protected with tariffs.
Trump, as far as I understood it, wants to strenghten these measures. It will actually lower buying power and the stock worth of American international companies at first. The long-term effects are debatable, but many low-grade jobs might indeed come back.

Sorry, did not mean to adress you,
should be a reply to the OP.

Basically, currency manipulation is when a government or central bank buys or sells foreign currency in exchange for their own domestic currency, generally with the intention of influencing the exchange rate.

Because their is no reason for us or import anything besides coffee and exotic fruits

Being reliant on other countries for basic goods is a huge national security risk. Do you remember that story about all of our computer chips for our missiles were all compromised and had backdoors because they were made in China

Just think about if a serious war breaks out and we don't have any factories to make our own shit. Do you understand what kind of danger that puts us in?

Having cheap goods is not worth giving up your countries economic base. Cheap goods is not worth having a service economy

youtube.com/watch?v=qJCeoFxrDn0

It's bad, it's just a way of pandering to people with crap they don't understand.

China artificially keeps price of its currency low, so their exports can be more competitive.

Protectionism doesn't work, it's just populist rhetoric to appeal to desperate poor people and greedy corporatists alike.

In reality it will reduce the amount of goods produced, drive up the cost of living, and ultimately cost jobs as less things consumed = less demand = less revenue across the nation.

What it will do is help you feel patriotic inside and help you manage your fear of brown people so there is that.

This

Free markets and globalism help the middle and upper classes with lower prices, while putting many unskilled workers out of a job or into a lower paying job. So its just another example of throwing your countrymen under the bus for a few tens of dollars off of consumer products.

Studies keep showing that free trade has been great for poor third world countries but terrible for advanced economies. We were promised cheaper prices but all we got were more profits for the owners/investors and an inflated stock market.

So what? They become poorer in american exports while americans don't lose jobs.

Problem is protectionism isn't enough. You'd also need negative interest small business loans to encourage industry to pick back up here. You'd also need a brief period of the general populace being cool with paying more for "made in usa" goods.

But China is an industrial economy. This basically means that American industry cannot compete with Chinese and American workers lose their jobs.

They peg their currency to the dollar, so even though their currency should be appreciating in value as their capital improves, it doesn't, which keeps the prices of Chinese goods low. USA actually inadvertantly funds this through a trade imbalance and sale of debt (bonds)

Or just lower your goddamn taxes and regulations. In some states like Cali you actively LOSE money for starting a business, it's the equivalent opening a farm and getting taxed so hard you end up HUNGRIER after you finish eating your crops.

Fifty percent corporate tax is plain unacceptable.

This

Protectionism is fucking retarded just like the idiot poorfags who bitch about "muh American jobs"

>general populace being cool with paying more for "made in usa" goods.
You mean:
>Investors being cool with earning less profits for stocks in companies that used to outsource

just a matter of how steadily/forcefully you pull yourself out of getting fucked in the ass to walking again.

It's not a matter of competition. Our companies that used to produce here outsourced production to avoid regulations and increase profits. People would choose American vs Chinese products if they even had a choice because they're safer and better

You're proudly ignorant

Free markets are the way to go, but we don't have a free market when every single one of our trading partners is protectionist in their own right, even mercantilist in China's case. The only way we could have a free global market is if every country agreed to play by the rules. This is why trade deals are a thing in the first place, the assumption that your trading partner(s) will seek any advantage over you that they can.

Also "free trade" is a misnomer. A trade implies both parties get something, currently we just get fucked. 800B trade deficit and rampant de-industrialization is what we get for our trouble. Free trade can only exist when there is a body capable of enforcing the so called "even playing field". In short, it can exist domestically but not outside our own jurisdiction, that's up to China and Japan and South Korea and whoever else. However, we have enough leverage to force other countries to comply, which is what a trade deal basically is.

Trade deficits are not bad, if anything you should have as big of a deficit as possible. A country that gets more products for less work is always in an advantage.

>if anything you should have as big of a deficit as possible
Yeah let's just rely on foreign countries for all of our goods. What could possibly go wrong?

Nice try.

>Free markets are the way to go, but we don't have a free market when every single one of our trading partners is protectionist in their own right, even mercantilist in China's case. The only way we could have a free global market is if every country agreed to play by the rules. This is why trade deals are a thing in the first place, the assumption that your trading partner(s) will seek any advantage over you that they can.
>Also "free trade" is a misnomer. A trade implies both parties get something, currently we just get fucked. 800B trade deficit and rampant de-industrialization is what we get for our trouble. Free trade can only exist when there is a body capable of enforcing the so called "even playing field". In short, it can exist domestically but not outside our own jurisdiction, that's up to China and Japan and South Korea and whoever else. However, we have enough leverage to force other countries to comply, which is what a trade deal basically is.

You're a little bit of an idiot, don't you think?

> This just in: Local Man realizes he has trade deficit with his gas station, burns it down in honor of his orange god-king

>local gas station is equivalent to foreign nations
wew lad

The average trumptard is so uneducated and worthless that he is literally unable to compete with an illiterate chinese peasant without the government subsidizing him from cradle to grave.

Trump is merely suggesting a return to prior US policies. Protectionism is only bad if it covers all industries.

The Chinese peasant works for a bowl of rice under slavelike conditions, which is why megacorps would rather build their factory in China than the west, where they have to pay an actual wage.

I find it amazing how the left is now openly the side of the elite corporate oligarchy and proud of it. Gotta increase that almighty GDP at all costs. Getting your iphone cheaper is more important than child slave labour.

>The Chinese peasant works for a bowl of rice under slavelike conditions

And the trumptard isn't capable of competing without a government subsidy.

>embarrassing