Author Topic: The Chicken Littles Are Hammering Trump on Trade, but Charles Payne's Truth Bombs Blow Their Theorie  (Read 9355 times)

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Offline txradioguy

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You're seriously trying to convince us that Marx was right on things, that he was a great analyzer coming to correct conclusions?

@Suppressed it would appear like Trump falsely calling his economic advisor a "Globalist" because he was advising against tariffs...some people here are misusing the term "Communist" because we are in favor of free trade and have a better grasp of economics and history than they do.

He's using Alinsky's Rule #13
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

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Offline jpsb

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@Suppressed it would appear like Trump falsely calling his economic advisor a "Globalist" because he was advising against tariffs...some people here are misusing the term "Communist" because we are in favor of free trade and have a better grasp of economics and history than they do.

He's using Alinsky's Rule #13

History? Did someone say history?

19th-century free trade did not work out well for Britain

Starting in the 1980s and accelerating with NAFTA & GATT, the US set out to meld its economy with those of Europe and Japan and create a global economy. We decided to create the interdependent world envisioned by 19th-century dreamers.

That experiment did not work out well for the free-trade British in the nineteenth century, who were shouldered aside in the struggle for world primacy by America. But our generation would make it work for the world.

What happened was predictable and was, in fact, predicted. With the abolition of tariffs, and with US guarantees that goods made in foreign countries would enter American free of charge, manufacturers began to shut plants here and more production abroad to countries where US wage-and-hour laws and health & environmental regulations did not apply, countries where there were no unions and workers' wages were below the US minimum wage. Competitors who stayed in America were undercut and run out of business, or forced to join the stampede abroad.
Source: Suicide of a Superpower, by Pat Buchanan, p. 12-13 , Oct 18, 2011

Detroit was forge & furnace of WWII Arsenal of Democracy

This is our reward for turning our backs on the economic nationalism of the men who made America, and embracing the free-trade ideology of economics and academics who never made anything.

In early 2010 it was reported that Detroit, forge and furnace of the Arsenal of Democracy in World War II, was considering razing a fourth of the city and turning it into pastureland. Did that $1.2 trillion trade deficit we ran in autos and auto parts in the Bush 43 decade help to kill Detroit?

If our purpose in negotiating NAFTA was to assist Mexico, consider this: textile and apparel imports from China are now five times the dollar value of those same imports from Mexico and Canada combined.
Source: Suicide of a Superpower, by Pat Buchanan, p. 17 , Oct 18, 2011

Free trade is the Pied Piper to world government

For generations US and foreign elites have sought to diminish American sovereignty and dilute our national identity. The penultimate step to world government, a North American Union built on the model of the European Union--which would one day merge with it in a World Union of Nations and Peoples--is on the table.

This is where NAFTA was designed to lead us. As too few participants appreciate, free trade--with its lure of a cornucopia of consumer goods at the cheapest possible price--is the Pied Piper to world government. For any continental common market must call into existence institutions with the power to enforce its rules. These evolve into regimes. So history teaches.

The Mexican regime sees the EU as its model for North America. In a 2002 speech in Madrid, Vicente Fox underscored the essential element of the post-NAFTA agenda: Absolute freedom of movement for persons, as well as goods, between Mexico and the US.
Source: State of Emergency, by Pat Buchanan, p.121-3 , Oct 2, 2007

Stopped belief in free trade when US lost manufacturing jobs

Buchanan said he ceased being a believer in the free trade, a traditional Republican position, after he looked at the loss of manufacturing jobs in the last 25 years--nearly 50% in Michigan and New York, for example. "Why do you think there's such rage and anger out there?" he asked, his hands cutting the air in tiny chops. "The median income of the average American worker has gone down 20%." The American worker was being forced to compete with $1-an-hour Mexican labor and 25-cent-an-hour Chinese labor.

Buchanan said that if something was not done, people would be thrown out of work more and more, be forced into lower-wage jobs. "You're risking social stability just so some of these corporations' profits can be dramatically increased, they can move factories anywhere.

"I think I can make that case out there," he declared; "economic nationalism's coming in Europe. It's going to come to the US. It is the future of this country."
Source: The Choice, by Bob Woodward, p.151-152 , Nov 1, 2005

America’s freedom is tied to her economic independence

Alexander Hamilton wrote: ‘Not only the wealth, but the independence and security of a country, appear to be materially connected with the prosperity of manufactures. Every nation...ought to endeavor to posses within itself all the essentials of a national supply. These comprise the means of subsistence, habitation, clothing and defense. ‘ America’s political independence, Hamilton was saying, could not survive without economic independence. “
Source: Where The Right Went Wrong, by Pat Buchanan, p.153 , Sep 1, 2004

America's Industrial Revolution took place with high tariffs

From the ratification of the Constitution to WWI, this vision guided the nation: All Americans participated in that free market as their birthright, but British merchants, who had held life-and-death power over the colonies, would pay a price of admissio --a tariff.

From 1870 to 1913, the US economy grew more than 4% a year. Industrial production grew at 5%. The Protectionist Era was among the most productive in history. When it began, America was dependent on imports for 8% of its GNP. When it ended, America's dependency had fallen to 4%. The nation began the era with an economy half the size of Britain's & ended it with an economy more than twice as large as Britain's.

Tariffs alone cannot explain the economic success of the era. But high tariffs, nevertheless, went hand in hand with the rise of the most awesome industrial power the world had ever seen. And the Republican Party, which preached protectionism as the key to prosperity, controlled the White House for all but 8 of those years.
Source: Where The Right Went Wrong, by Pat Buchanan, p.154-156 , Aug 12, 2004

Reduce dependence on trade; support Monroe Doctrine

For Americans, Buchanan’s book says, only America should matter. Buchanan rages against the UN, the WTO, and a previously unknown animal, “the managerial elites of the New World Order.” Allies in South-East Asia and Europe must do their own fighting, and America must cut down its dependence on trade. The single pillar of American foreign policy should be the Monroe Doctrine; the country’s priorities are to guard against “hostile bastions in this hemisphere” and to try yo keep immigrants out.
Source: The Economist, p. 31 , Oct 2, 1999

Match 100% tariffs from Japan & China

Today, we let Japan and China to run up a combined annual trade surplus of $120 billion, blithely allowing them open access to our markets while we pay up to 100% tariffs for entry into theirs. By equalizing tariffs so that imported goods carry the same tax as American-made products, we can end the exploitation of US workers, and fund flatter taxes for families, fairer competition for business, and renewed economic liberty for all Americans.
Source: www.GoPatGo.org/ “Issues” , Jun 5, 1999

Trade deficit is “tumor in intestines of US economy”

Today Buchanan called the massive merchandise trade deficit-over $26 billion for February alone-a “malignant tumor in the intestines of the US economy. Unattended, it will one day kill this country’s tenure as the world’s mightiest industrial power,” Mr. Buchanan said. “A $300 billion annual deficit will strip America of our manufacturing and production base. Manic consumption is a mark of a republic that has passed its apogee, and begun its long descent.”
Source: www.GoPatGo.org/ “Press Release: Trade Deficit” , Apr 21, 1999

We will rue the day we passed NAFTA

Ross Perot and I stood up again against NAFTA. We stood up against GATT. We stood up against the World Trade Organization. We stood up against the $50 billion bailout of Mexico.

People ask, “Pat, why are you against NAFTA?” I said, “There are lots of reasons I’m against NAFTA. You do not force Americans making ten bucks an hour to compete with Mexicans who work for a dollar an hour.”

One year later, Mexico devalued the peso. American trade surplus disappeared. We now have a $15 billion trade deficit with Mexico, which means 300,000 American jobs were lost this year. Illegal immigration is soaring.

We are required to pay $50 billion to the government of Mexico. For whose benefit was that? It was not for the benefit of working Americans. It was for the benefit of investment bankers on Wall Street.


Offline goatprairie

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Caused?  No.  Kept us in it for a decade?  Yes.  If government had gotten the hell out of the way, the depression would have been over in less than half the time.
Too bad Coolidge didn't run for  a second time. It would have been technically his second term. He was an actual conservative and at loggerheads with Hoover who was more of a progressive.
Interestingly enough, over one thousand economists at the time pleaded with Hoover to veto the S-H tariff.

Offline Weird Tolkienish Figure

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Was Trump president then?  Bringing up the great depression has no relevance to today.  Things have changed.

It's amazing how dumb you people are.

Offline Hoodat

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History? Did someone say history?

19th-century free trade did not work out well for Britain

Starting in the 1980s and accelerating with NAFTA & GATT, the US set out to meld its economy with those of Europe and Japan and create a global economy. We decided to create the interdependent world envisioned by 19th-century dreamers.

That experiment did not work out well for the free-trade British in the nineteenth century, who were shouldered aside in the struggle for world primacy by America. But our generation would make it work for the world.

Are you high?  The abandonment of mercantilism resulted in the UK becoming the world's premier economic superpower of the 19th century.  It wasn't until Keynes arrived on the scene with his neo-mercantilism that the UK would begin its decline.


In early 2010 it was reported that Detroit, forge and furnace of the Arsenal of Democracy in World War II, was considering razing a fourth of the city and turning it into pastureland. Did that $1.2 trillion trade deficit we ran in autos and auto parts in the Bush 43 decade help to kill Detroit?

Detroit killed Detroit.  If Detroit made quality cars, there wouldn't be a trade deficit in autos.  Of course you could always use the Soviet Union as an example.  They weren't running a trade deficit in cars because of their heavy-handed stance on trade.  So who was better off?  The Russian proletariat working his entire lifetime but never able to afford a POS Skoda?  Or his BMW-driving Austrian counterpart?


If our purpose in negotiating NAFTA was to assist Mexico  .  .  .

It wasn't.  The purpose of NAFTA is to help the US consumer and remove barricades that keep the pie from getting bigger.

Anyone concerned about how NAFTA helps Mexico is a class-envy liberal idiot.  I don't give a damn what it does for Mexico, other than making it a richer nation that is more willing to purchase US goods.

Pat Buchanan is an idiot.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

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Offline Bigun

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Draw whatever conclusion you like. Used to be we had a small gov financed by tariffs placed on
imports. Now we have a huge gov financed by a Marxist income tax. I would prefer to return to
a small gov and tariffs. Most here seem to favor a big gov, progressive income tax and then
with a straight face, say they are conservative.

Yeah! And those tariffs caused the greatest conflagration this nation has ever seen!  And it altered our form of government!
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Offline jpsb

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Are you high?  The abandonment of mercantilism resulted in the UK becoming the world's premier economic superpower of the 19th century.  It wasn't until Keynes arrived on the scene with his neo-mercantilism that the UK would begin its decline.


Detroit killed Detroit.  If Detroit made quality cars, there wouldn't be a trade deficit in autos.  Of course you could always use the Soviet Union as an example.  They weren't running a trade deficit in cars because of their heavy-handed stance on trade.  So who was better off?  The Russian proletariat working his entire lifetime but never able to afford a POS Skoda?  Or his BMW-driving Austrian counterpart?


It wasn't.  The purpose of NAFTA is to help the US consumer and remove barricades that keep the pie from getting bigger.

Anyone concerned about how NAFTA helps Mexico is a class-envy liberal idiot.  I don't give a damn what it does for Mexico, other than making it a richer nation that is more willing to purchase US goods.

Pat Buchanan is an idiot.

Britain became the premier world power after the defeat of the Spanish Armada. It lost that
position to the USA in the late 1800s early 1900s. Or just about the time it adopted so called
free trade. The USA rose to dominance behind high tariffs which protected our industries and
financed our government. Now we that we have adopted so called free trade are losing that
position to Communist China and as an added bonus instead of tariffs get get a progressive
income tax. Thanks a lot free traders.

Offline jpsb

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Yeah! And those tariffs caused the greatest conflagration this nation has ever seen!  And it altered our form of government!

Tariffs caused the civil war/WW2? Wow I did not know that.
« Last Edit: March 06, 2018, 03:45:25 pm by jpsb »

Offline Bigun

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Tariffs cause WW2? Wow I did not know that.

BZZZZZ!  Try again sport! 
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Offline txradioguy

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Tariffs cause WW2? Wow I did not know that.

 :facepalm:
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline jpsb

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Yeah! And those tariffs caused the greatest conflagration this nation has ever seen!  And it altered our form of government!

"greatest conflagration this nation has ever seen" that would be the civil war by far. Next would be
WW2 then, maybe, the great depression. However tariffs did not cause the great depression. That
is a Marxist lie, pushed by progressives that like big gov and the income tax.

Offline Bigun

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"greatest conflagration this nation has ever seen" that would be the civil war by far.

NOW your getting it!  And it was anything but "civil"!

!00% cause by the tariff of abomination!
« Last Edit: March 06, 2018, 03:57:18 pm by Bigun »
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Offline Emjay

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This worked so well the last time.



You need a new picture.
Against stupidity, the Gods themselves contend in vain.

Offline Emjay

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Aah, the old Marxist lie that Smoot Halley caused the Great Depression. What a good little commie
you are.

FYI, That lie has been debunked many many times.

Yes, but that doesn't keep some people from repeating it in the hope that if you tell a lie long enough and often enough ....
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Offline Emjay

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The Great Depression was not the inevitable result of the stock market crash of 1929; in fact, the market had recovered nicely during the following year. Instead, the Depression was caused by the cascading effects of the monetary policies of the Federal Reserve under Progressive leadership, and exacerbated by bad trade policy, including the Smoot-Hawley tariffs, which predictably raised the prices of goods at the very moment people could not afford to pay for them. 

Government causes disasters like this all the time, while blaming the businesses and individuals they wish to control and tax.

So, what about it?  I mean should the U.S. be blamed for wanting fair trade?  It might have an initial down effect but I think creating a fair climate for American business to come here, stay here and thrive here is a good thing.
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Offline Emjay

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I know history, and I fear recessions and the Great Depression.  The more things change the more they stay the same.

Yes, and cars ruined the buggy whip industry.
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Offline Emjay

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I guess Europe has it better than us because of tariffs.  Huh.  Funny how the Europeans have a lower standard of living, higher unemployment rate and states itching to leave the EU.  But oh those tariffs are working well for them.

As for China, it does impose impose tariffs.  But its standard of living is nowhere near ours, unless you look at Hong Kong (free trade area), in which the standard of living is nearer ours.  Also, as long as we are looking at Asia, how about we look at Singapore?

Here are the top ten countries in the world in terms of low trade barriers:

1. Singapore
2. Hong Kong
3. Netherlands
4. New Zealand
5. Finland
6. United Kingdom
7. Switzerland
8. Chile
9. Sweden
10. Germany

Every single one of them has a high standard of living.

Here are the worst countries in terms of trade barriers:

1. Iran
2. Bhutan
3. Sri Lanka
4. Nepal
5. Pakistan
6. Zimbabwe
7. Cameroon
8. Chad
9. Gambia
10. Barbados

All of you Trump defenders who think trade barriers are good for America are free to move to any of these tariff-imposing countries and see if you like it there better than here.

Thanks for looking all that up but the poor standard of living has far more to do with the mode of government in those countries and the fact that their dictators take all the money.

America thrives because of the free enterprise system.  I'm not against free trade but I don't think evening up the playing field with some of those countries will plunge us into instant poverty.

It just doesn't make sense.
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Offline Emjay

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Outside questions of moral right and wrong there's not a political, economic or social policy issue the absolutists are correct about. Lets just see how this plays out.

Amazing idea.  That's what I'm doing and what I wish other people could bring themselves to do.
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Offline Emjay

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Orange Brigadiers have whitewashed history before 2016. After all, everything's going to be AMAZINGLY different under Trump.

I remember the housing bubble that crashed the economy in 2007-2008. I benefitted economically from it, as it gave me a great job for five years with the FDIC...if my term hadn't ended, I'd still be there.

And now we see Congress preparing to loosen banking regulations. And who, may you ask, is leading the charge? None other than Steve Mnuchin, our Treasury Secretary. Steve, if you will recall, made his fortune in large part to the buyout of IndyMac Bank.

I couldn't give full attention to your post because when I see the word "orange" everything starts to blur.

I really wish we could persuade the mods to ban the use of that term unless we are discussing fruit or goldfish.
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Offline Hoodat

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You need a new picture.

You need a new economic policy.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

Offline txradioguy

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Yes, but that doesn't keep some people from repeating it in the hope that if you tell a lie long enough and often enough ....

You mean like the lie that if you believe tariffs are bad and you believe that Smoot Hawley contributed to the Great Depression you're a commie?
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline Emjay

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You need a new economic policy.

I don't have an economy policy and neither do you.  You have some fears and some semi-true recollections about the Great Depression and its causes and aftermaths.

We have a whole new world now with entirely different industries and one where technology is king.

I don't think a sensible use of tariffs would plunge us into disaster.  And I don't think insulting people is a good strategy when we are trying to discuss something.
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Offline txradioguy

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I don't have an economy policy and neither do you.  You have some fears and some semi-true recollections about the Great Depression and its causes and aftermaths.

We have a whole new world now with entirely different industries and one where technology is king.

I don't think a sensible use of tariffs would plunge us into disaster.  And I don't think insulting people is a good strategy when we are trying to discuss something.

Ok so you don't like the 30's...and the credible evidence of how bad tariffs are on the economy and the consumers...how about the negative effects when Bush 43 applied tariffs...or even more recent history when your fellow Hawaiian Obama implemented tariffs on tires imported from China?

Tell us how tariffs when applied in an era of "different industries and one where technology is king" worked out for us.

The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

Republicans Don't Need A Back Bench...They Need a BACKBONE!

Offline Emjay

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History? Did someone say history?

19th-century free trade did not work out well for Britain

Starting in the 1980s and accelerating with NAFTA & GATT, the US set out to meld its economy with those of Europe and Japan and create a global economy. We decided to create the interdependent world envisioned by 19th-century dreamers.

That experiment did not work out well for the free-trade British in the nineteenth century, who were shouldered aside in the struggle for world primacy by America. But our generation would make it work for the world.

What happened was predictable and was, in fact, predicted. With the abolition of tariffs, and with US guarantees that goods made in foreign countries would enter American free of charge, manufacturers began to shut plants here and more production abroad to countries where US wage-and-hour laws and health & environmental regulations did not apply, countries where there were no unions and workers' wages were below the US minimum wage. Competitors who stayed in America were undercut and run out of business, or forced to join the stampede abroad.
Source: Suicide of a Superpower, by Pat Buchanan, p. 12-13 , Oct 18, 2011

Detroit was forge & furnace of WWII Arsenal of Democracy

This is our reward for turning our backs on the economic nationalism of the men who made America, and embracing the free-trade ideology of economics and academics who never made anything.

In early 2010 it was reported that Detroit, forge and furnace of the Arsenal of Democracy in World War II, was considering razing a fourth of the city and turning it into pastureland. Did that $1.2 trillion trade deficit we ran in autos and auto parts in the Bush 43 decade help to kill Detroit?

If our purpose in negotiating NAFTA was to assist Mexico, consider this: textile and apparel imports from China are now five times the dollar value of those same imports from Mexico and Canada combined.
Source: Suicide of a Superpower, by Pat Buchanan, p. 17 , Oct 18, 2011

Free trade is the Pied Piper to world government

For generations US and foreign elites have sought to diminish American sovereignty and dilute our national identity. The penultimate step to world government, a North American Union built on the model of the European Union--which would one day merge with it in a World Union of Nations and Peoples--is on the table.

This is where NAFTA was designed to lead us. As too few participants appreciate, free trade--with its lure of a cornucopia of consumer goods at the cheapest possible price--is the Pied Piper to world government. For any continental common market must call into existence institutions with the power to enforce its rules. These evolve into regimes. So history teaches.

The Mexican regime sees the EU as its model for North America. In a 2002 speech in Madrid, Vicente Fox underscored the essential element of the post-NAFTA agenda: Absolute freedom of movement for persons, as well as goods, between Mexico and the US.
Source: State of Emergency, by Pat Buchanan, p.121-3 , Oct 2, 2007

Stopped belief in free trade when US lost manufacturing jobs

Buchanan said he ceased being a believer in the free trade, a traditional Republican position, after he looked at the loss of manufacturing jobs in the last 25 years--nearly 50% in Michigan and New York, for example. "Why do you think there's such rage and anger out there?" he asked, his hands cutting the air in tiny chops. "The median income of the average American worker has gone down 20%." The American worker was being forced to compete with $1-an-hour Mexican labor and 25-cent-an-hour Chinese labor.

Buchanan said that if something was not done, people would be thrown out of work more and more, be forced into lower-wage jobs. "You're risking social stability just so some of these corporations' profits can be dramatically increased, they can move factories anywhere.

"I think I can make that case out there," he declared; "economic nationalism's coming in Europe. It's going to come to the US. It is the future of this country."
Source: The Choice, by Bob Woodward, p.151-152 , Nov 1, 2005

America’s freedom is tied to her economic independence

Alexander Hamilton wrote: ‘Not only the wealth, but the independence and security of a country, appear to be materially connected with the prosperity of manufactures. Every nation...ought to endeavor to posses within itself all the essentials of a national supply. These comprise the means of subsistence, habitation, clothing and defense. ‘ America’s political independence, Hamilton was saying, could not survive without economic independence. “
Source: Where The Right Went Wrong, by Pat Buchanan, p.153 , Sep 1, 2004

America's Industrial Revolution took place with high tariffs

From the ratification of the Constitution to WWI, this vision guided the nation: All Americans participated in that free market as their birthright, but British merchants, who had held life-and-death power over the colonies, would pay a price of admissio --a tariff.

From 1870 to 1913, the US economy grew more than 4% a year. Industrial production grew at 5%. The Protectionist Era was among the most productive in history. When it began, America was dependent on imports for 8% of its GNP. When it ended, America's dependency had fallen to 4%. The nation began the era with an economy half the size of Britain's & ended it with an economy more than twice as large as Britain's.

Tariffs alone cannot explain the economic success of the era. But high tariffs, nevertheless, went hand in hand with the rise of the most awesome industrial power the world had ever seen. And the Republican Party, which preached protectionism as the key to prosperity, controlled the White House for all but 8 of those years.
Source: Where The Right Went Wrong, by Pat Buchanan, p.154-156 , Aug 12, 2004

Reduce dependence on trade; support Monroe Doctrine

For Americans, Buchanan’s book says, only America should matter. Buchanan rages against the UN, the WTO, and a previously unknown animal, “the managerial elites of the New World Order.” Allies in South-East Asia and Europe must do their own fighting, and America must cut down its dependence on trade. The single pillar of American foreign policy should be the Monroe Doctrine; the country’s priorities are to guard against “hostile bastions in this hemisphere” and to try yo keep immigrants out.
Source: The Economist, p. 31 , Oct 2, 1999

Match 100% tariffs from Japan & China

Today, we let Japan and China to run up a combined annual trade surplus of $120 billion, blithely allowing them open access to our markets while we pay up to 100% tariffs for entry into theirs. By equalizing tariffs so that imported goods carry the same tax as American-made products, we can end the exploitation of US workers, and fund flatter taxes for families, fairer competition for business, and renewed economic liberty for all Americans.
Source: www.GoPatGo.org/ “Issues” , Jun 5, 1999

Trade deficit is “tumor in intestines of US economy”

Today Buchanan called the massive merchandise trade deficit-over $26 billion for February alone-a “malignant tumor in the intestines of the US economy. Unattended, it will one day kill this country’s tenure as the world’s mightiest industrial power,” Mr. Buchanan said. “A $300 billion annual deficit will strip America of our manufacturing and production base. Manic consumption is a mark of a republic that has passed its apogee, and begun its long descent.”
Source: www.GoPatGo.org/ “Press Release: Trade Deficit” , Apr 21, 1999

We will rue the day we passed NAFTA

Ross Perot and I stood up again against NAFTA. We stood up against GATT. We stood up against the World Trade Organization. We stood up against the $50 billion bailout of Mexico.

People ask, “Pat, why are you against NAFTA?” I said, “There are lots of reasons I’m against NAFTA. You do not force Americans making ten bucks an hour to compete with Mexicans who work for a dollar an hour.”

One year later, Mexico devalued the peso. American trade surplus disappeared. We now have a $15 billion trade deficit with Mexico, which means 300,000 American jobs were lost this year. Illegal immigration is soaring.

We are required to pay $50 billion to the government of Mexico. For whose benefit was that? It was not for the benefit of working Americans. It was for the benefit of investment bankers on Wall Street.

@jpsb
That's a great post and I'm glad I took the time to read it.  You actually did a lot of homework and made a lot of sense.

I wish other people had your wisdom but they prefer to just insult people who want to give new policies a chance.
Against stupidity, the Gods themselves contend in vain.

Offline txradioguy

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A little bit of education for the economically stupid among us:

Quote
Producers are only one side of the equation. American consumers pay for these new tariffs in the form of higher prices or fewer choices. Keeping a focus on these costs, more diffuse, harder to quantify, and likely less salient, is important when attempting to analyze tariff proposals. Goldman Sachs estimates that Americans could see an 8 to 20 percent increase in the price of new washing machines next year. Solar system prices are expected to rise 10 percent for utilities and large purchasers, and 3 percent for consumers.

In another 2017 report, the USITC estimated that “the net change in total U.S. economic welfare from removing significant import restraints would be a positive one,” leading to an average annual increase of about $3.3 billion from 2015 to 2020.  Only in government does the agency that is recommending the tariffs also estimate that in aggregate Americans would be better off without import restrictions.

These higher prices and lost jobs could be just the tip of the iceberg. Companies in other industries could be more likely to file complaints against foreign competitors, seeing the success businesses were able to achieve in limiting sources of competition.

In addition, other countries will likely respond to U.S. tariffs by imposing new or higher restrictions of their own. For example, when the United States imposed new duties on Chinese solar panels in 2011 China introduced corresponding measures. The country is the biggest buyer of U.S. soybeans, and could consider steps to reduce imports.

Some argue that tariffs are justified because foreign producers are dumping products subsidized by their governments in the United States. Even in cases where the investigation does find some evidence of dumping or anticompetitive trade practices by other countries, the countervailing orders put in place do not appear to have an effective track record. Furthermore, the countervailing duties and tariffs also create room for unintended or unforeseen consequences that could create new problems.

However, even if this were to be true, America should welcome these inexpensive products.  Consumers benefit from access to a variety of affordable options, as do U.S. companies that rely on imports. Paying less for some products leaves them more funds to buy others.

The new tariffs are not an effective way to raise GDP, and could cost jobs due to losses in other areas. In addition, these levies will increase costs to American consumers. At this point, we can estimate the effects of the newly announced measures, but cannot anticipate what other American companies will seek similar treatment, or how other countries will respond. Fostering an environment that encourages companies to expand and entrepreneurs to innovate is a better way to support American economic activity. 


https://economics21.org/html/tariffs-don%E2%80%99t-help-industry-or-consumers-2812.html
The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.

Here lies in honored glory an American soldier, known but to God

THE ESTABLISHMENT IS THE PROBLEM...NOT THE SOLUTION

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