While US factories began relocating to Mexico as far back as the 1960’s, it was in 1994 when NAFTA facilitated further moves. The reasons were primarily low cost labor and lax environmental regulations which boosted profits. By 2010, 1/3 of all US manufacturing had disappeared leaving huge employment gaps to the tune of 6 million job losses and contributing to the 2008 Recession. By 2015, the US trade deficit in manufacturing hit a whopping $832 BILLION.
To make matters worse, the manufacturing sector of both Japan and Germany post WWII was propped up US Taxpayers via the Marshall Plan. Furthering the shift, R&D money given to Universities was spent mostly on Big Pharma instead of innovation, leaving the US behind as China sprung forward. And the final gasp came when financial institutions pushed for outsourcing to better the bottom line and move away from vertically integrated companies.
Like social credit or DEI – if companies didn’t tow the mandate, they lost contracts and funding opportunities. Banks Ruled. Tipping the scales of manufacturing into the abyss. Making America dependent on the whims of import duties imposed by EU countries, China, Japan, and the South Asian countries.
It was Apple’s success in its business model wherein all manufacturing was done in China that prompted a slew of US manufacturers to abandon America for greener pastures and higher profits – which translated into CEO pockets bulging with cash.
Where did China get it’s R&D? From Israel mostly. In the 1980’s Israel sold technology to upgrade Chinese tanks, planes, radar, missiles, navigation systems, and unmanned aerial vehicle technology. Why would Israel want to compromise America? CIA Director, James Woolsey brought the claim to Congress in 1993 claiming it had been ongoing for a decade and at the time amounted to multiple BILLIONS.
In fact, the alliance between Israel and China has grown so strong that US aid to Israel is no longer necessary and China supports Israel’s right to Palestinian genocide. In other words, Israel bought China’s allegiance by undermining US military secrets.
The classic elite naysayers have come out in full manic panic over Trump’s Tariffs, ignoring the fact that over 100 countries have now come to the negotiating table. Not one of the naysayers has a solution, they simply promote their ‘expert voice’ to deride, complain, and hack the Trump agenda. The gob-speak has become something akin to liberal vaccine rhetoric! Ignore facts! Provide no alternatives. Just Scream the loudest.
Nothing about the debt and the interest obligation, nothing about the deficit spending, nothing about manufacturing, R&D, or massive government waste… Pool’s of supposed Economic PhD’s pushing – you can’t, it won’t, impossible, bad, really bad, until the sound of their voices in unison sound like a Squad Parade of Fools & Jesters. These same jesters working at various neo-NGO’s who have been backstabbing China for a decade are onboard China’s trade deficit simply to deride Trump…
When I was a University student, Economists were considered one of the joke professions. They make no contribution to society. Their predictions are routinely false. And betting against their advice was the only way to profit. Adding a PhD to their stable of degrees only seems to make them a bigger jackass.
Economic analysts at Goldman Sachs in January 2021: “lockdowns will hit the economy, but not too hard.” Lockdowns destroyed the economy. After the “Pandemic” – The Tragedy of Economist Apologists… Then there is this lovely tidbit: Economists agree that inflation is caused by an increase in the money supply. Reality. Government spending causes inflation. Government expansion causes over-spending. Printing money for deficit spending by the Government – causes inflation.
Economists are like Big Pharma – they cure nothing. The world would not miss them should this career become obsolete. Most become anti-matter writers for pundit magazines and liberal media because their worth is $-0-. Their largest employer? The Federal Government.
