DISQUS

Guest · 1 month ago

It seems every day it becomes more obvious that America is rudderless, there's no one at the helm anyway and the sails are in tatters.

Canada, China, the EU, Britain, Russia, Iran, ... can you think of anyone who aren't shaking their heads in disgust and frustration at the US? Israel, I suppose... lot of good that'll do them.

I suppose one way to severely deflate your currency is to ensure every other country in the world loathes every second they are forced to do business with you.

Aki_Izayoi · 1 month ago

How would a trade war be bad even if we do assume the retaliation? How does it harm American and Europe workers? Regarding the latter, it might decrease German exports.

Even if there would be retaliation, the retaliation means the politicians in those countries care about their citizen's interests, not the interest of capital, and their reactions to protect their own citizen should be respected as it is a sign of virtue that they are willing to protect their constituents interests.

A protectionist regime, even with retaliation, would benefit most workers in developed countries because it reduces the labor supply by making cheap foreign labor too expense because its cost is raised via tariffs. Furthermore, it increases capital's exit costs thus reducing the mobility of capital.

A trade war? Smoot-Hawley II?... bring it on!!! I am willing to gamble with protectionism as a means of reducing the influence of the globalized predator class.

BTW, Smoot Hawley did not cause the Great Depression, nor did it make it "Great." See this:

http://www.exponentialimprovement.com/cms/smoot...