Its Time, That 1,000 lb Gorilla In The Corner…
Daily Journal (Opinion)Feb 28, 2011It started with someone praising Donald Trump for saying that the first thing he would do is put a tariff on Chinese goods if he was to be elected President. And I replied…
NO, A THOUSAND TIMES NO. The problem with the items from China is not that the jobs are going there. They have a per-capita income that is 1/10 of what ours is. They have the economic advantage and should make the stuff. The problem IS…, when the stuff comes back, that it still cost what it did when it was made here. If it was sold at a price that reflected the actual cost of production, it would cost about 1/10 of what it used to cost. Our standard of living does NOT have to drop. The prices of those goods must drop. The Chinese are not the demons here, it is the CEOs who are selling you $3.00 Nike running shoes for $150. It is GE selling you a Profile gas range that was made in Mexico, for a hundred dollars max, for $1,000. THAT
