ACP45 Loc: Rhode Island

Martin Armstrong made the following statement in a publicized article with the above title, "China will become the largest economy in the world and take the crown from the United States because America lacks the political stability to foster long-term economic growth like China."

Now that is a pretty bold, and rather "pessimistic" outlook longterm for the US if there is any credence to his words. In my opinion, Martin Armstrong is a bright financial guy, who is sought world over for his financial insights. So what are the primary insights he offers to support that theory. See if you agree with the following:

- "The demise of the United States is easily seen by the polarization of American politics. The Democrats come in and want to raise taxes and hunt the rich sending jobs and capital overseas. The Republicans come in and want to lower taxes and bring jobs and capital back home. The problem is very clear. Tax rates should NOT be a political yoyo. Corporations must have a budget. They cannot plan long-term because it all depends upon the next e******n every time. Unless the Supreme Court outlaws Marxism, there is no hope for the United States to survive long-term. Our political system will self-destruct the economy. There is just no consistency which is vital to economic growth."

- "China, in contrast, has a long-term plan. Its politicians are a career employee, but they need not stand for e******n. That actually allows for actual long-term planning where the United States cannot compete because of the polarization in American politics dominated by free-market Adam Smith v Marxist Socialism."

- "However, China would very much like to see Trump lose the e******n so they can get back to negotiating trade deals by offering special treatments to the career politicians who look to get something out of everything for themselves."

So, in a nutshell, the polarization of our political climate, and the swings in economic policy make long term planning for US Companies very difficult. Corporations have loyalty only to increasing their profits, and management performance bonuses (not to the US or it's citizens despite very few rare exceptions). They will seek out cheap labor markets despite the long-term economic harm to our domestic economy by the loss of good paying jobs, and dependency upon other countries production of manufactured goods. Our political leaders have amassed vast fortunes while in political office. How do you think they have amassed these fortunes? While President Trump has his faults (numerous), he at least has been ("the chosen one") the only politician that has been willing to attempt to correct the Chinese penchant for intellectual theft of American technology and know-how. I believe Mr. Armstrong is right,.... this will not end well for America.

lpnmajor Loc: Arkansas

Who in their right mind would bother making any kind of deal, agreement or treaty with the USA, when they can be abrogated by the next moron to inhabit the White House? Back when the Congress did it's job ( a long time ago ), treaties and trade agreements were their responsibility to approve ( or not ) and the President had no authority to modify, suspend or end them. Congress had the authority to impose tariffs and only the Congress, except in rare instances of a National security emergency, and even then, the Congress must ratify.

Allowing Presidents free rein to do as they please, because the Congress is too lazy or too timid to do it's job, is a sure recipe for disaster....................regardless of partisanship.

Lonewolf

you are so right