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A lot of the jobs that people with little education or skills that used to pay decent wages have gone to places like China.
Potential downside: inflation will try to return. That can be managed by threatening to open the FED's books if it isn't.
A lot of the jobs that people with little education or skills that used to pay decent wages have gone to places like China.
Why do you think that is?
Cheap labor.
Cheap labor.
Only Cheap Labor? Are you sure? There are tons of countries around the world with cheap labor. Ton's of countries with no minimum wage either. Your jobs aren't going to many of those countries.
And many of them are.
Mexico
Bangledesh
Viet Nam
Taiwan
Indonesia
India
To name few.
Potential downside: inflation will try to return. That can be managed by threatening to open the FED's books if it isn't.
It's more long the lines of likely. There has to be better solutions than a higher cost of living simply because everyone is afraid of Free Trade.
Ton's of Western countries have Free Trade. They don't have anywhere near the employment problems that the US has. Not enough protectionism can no longer be a valid answer for why America sucks so bad.
Name the western nations with tariffs as low as the US.
And NOTHING in my solution suggests "protectionism". Equal or perfectly reciprocal trade tariffs are not protectionism by definition.
I have a plan!