Quote:
Originally Posted by Paul Markham
This is why the US and many other Western Countries are in deep debt and getting worse. An unemployed or low salary worker can't contribute, the companies they worked for and now in theEast, contribute very little to nothing. Without trade tariffs that take away the advantage of manufacturing in the Third World. The West is fucked.
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Paul you are right. Western EU also gave away factories to Eastern EU and Asia.
The solution? No quick fix but fair trade is a start. For example, China is a closed market; only 40 or so Hollywood films a year are allowed in, import taxes are sky high on Harleys and everything else.
One way is to put the import tariffs on first and then negotiate back to fair trade.
Lots more jobless than 5%. Closer to 20 or 25% if you count everyone who lost good paying work at $30 or $50 an hour and won't do Starbucks at $15.
And Rockefeller Center based, GE-owned, NBC, can kiss my ass.