PeterS

And what businesses are paying out $5 and taking in $1? Name them...

PeterS

The average manufacturing wage in the US is $22 an hour and the average wage in China $24.72 for a 7 day work week. You will never see manufacturing return to the US. Not in a capitalistic economy...

America 1 Loc: South Miami

Are you possibly so dense not to know it is an example?

America 1 Loc: South Miami

The US is sending way more to China than what we receive in return.
U.S. exports to China were only $120 billion while imports from China were $540 billion.
The U.S. trade deficit with China was $419 billion in 2018.

Radiance3

==================
The quality of materials and workmanship for those made in China are so inferior with the US. US creates quality products that last for years. China last for few months. Buy China apparel for instance. Very cheap quality materials made of cheap labor.

Always buy US made products. And be proud of it. You are helping your own people and country.

Seth

Every three months PeterS visits his doctor for a density scan. The doctor, impressed at the record high density levels he encounters, just published a book on it that has turned an entire industry upside down.

EconomistDon

EXACTLY!!!! See F*****t Pete? You are not as dumb as you look.
Sooooo, tariffs and import quotas are the only answer.

truthiness

....
Don,
You and I rarely agree on anything, and that is OK. It is a learning situation when done in the right frame.

Me Angst? :) The only Angst I will have is if I don't get to v**e against Trump in 2020.

We do agree in part on Reagan. I v**ed for him in his first e******n. But not in the second; no pol, right or left, should govern from a landslide. It creates problems as it did for Reagan. In that period, they posted the eastern results as they came in rather than waiting until polls closed as they do now. I was in the west, and I could see how it was going to turn out. It wasn't his silver tongue that impressed me; it was his sincere desire to bring the country together. Some of his ideas were good--firing the air traffic controllers. Some were not good--trickle down, which his budget director showed would not work. And of course Iran-Contra. Reagan was not the brightest guy, but less corrupt and more moral than most. It will not surprise you to hear me say that Trump is the antithesis of Reagan in virtually everything positive.

It was a conervative commentary that I quoted that said Smoot-Hawley, according to most economists, added to the length of the Great Depression. I have no opinion as to whether this oinion or yours about being not enough goods to have an effect.

As I said, the boom years of the 50s-60s could not be identified with either political party, so I guess we agree on that.

I find it somewhere between inconsistent and hypocritical for someone to say that it is commendable, even morally obligatory (ala Milton Friedman), for companies to make the maximum profits and therefore take production out of the US to foreign countries in order to increase profits and at the same time say it is not appropriate (even unpatriotic) for the American consumer to pay more for the more costly American product. Why not chastise Apple for not being patriotic to produce in the US? I don't think that is a "whine," it is good economics: produce at the lowest cost, buy at the lowest price. It has nothing to do with quality as someone spuriously brought into the argument. Apple is quality.

My appreciation to you and Rad3 for providing data and making this thread at least about opinion based on facts the way you see them. For me, the subject of this thread has been squeezed dry.

Danke.

t

EconomistDon

Ich auch. Auf wiedersehen.