I greatly respect and admire Prof. Sachs...Years ago many US industries were moved, first to Mexico, and then to China - seeking cheaper labour and bigger profits. The average consumer enjoyed very little of this. This is self-inflicted pain and, as America has always done and still does, first blame others long before blaming itself.
The "average consumer" readily bought up all the cheap goods from China, reflecting again, Marx's dialectic - they were both victims and beneficiaries. Such consumers cannot afford products produced by their inflated wages - the N. American tax structure is deliberately set up to make local wages un-competitive on the world market. And the scale of manufacturing facilities is exponentially larger than what N. American consumers can buy, especially when for years all their excessive consumption has been paid for with borrowed money, which is presently collapsing in the demise of the Japanese carry-trade.
So true, Trump can never admit that America's industrial base was allowed to move to China for greater corporate profits and cheap labor. He can never admit that Russia has won the war in Ukraine . He can never acknowledge that China has 4X the population of the US, its economy is carefully planned and the government is sovereign over its corporations.
America has huge self-inflicted impediments to re-industrialization.
He can never admit that America's greed and failed foreign policy contributed to China's economic miracle. Now America must do what China did forty years ago.... rebuilding- which precludes forever wars and imperialism.
Trump's "demolition derby" is the unacknowledged rage that he presides over a fallen empire. It will be left to other wiser more capable leaders to make America great again.
Interesting how You Tube becomes a primary news source.
PS : I have just followed your link. It puts this whole mess in a very compelling historical context-- our societies now are "designed" to stop us from seeing our own enslavement.
On Friday I will be posting: The Tyranny of Unspoken Truths, more on enslavement...
That would be pathetic, Robert. Certain people and groups should be primary news sources, not YouTube.
I think that short video demonstrates something we've all been aware of at some level, and is being revealed through Israel's genocide and its support by the USA, the rest of western powers and media.
I greatly respect and admire Prof. Sachs...Years ago many US industries were moved, first to Mexico, and then to China - seeking cheaper labour and bigger profits. The average consumer enjoyed very little of this. This is self-inflicted pain and, as America has always done and still does, first blame others long before blaming itself.
The "average consumer" readily bought up all the cheap goods from China, reflecting again, Marx's dialectic - they were both victims and beneficiaries. Such consumers cannot afford products produced by their inflated wages - the N. American tax structure is deliberately set up to make local wages un-competitive on the world market. And the scale of manufacturing facilities is exponentially larger than what N. American consumers can buy, especially when for years all their excessive consumption has been paid for with borrowed money, which is presently collapsing in the demise of the Japanese carry-trade.
Good Points!
So true, Trump can never admit that America's industrial base was allowed to move to China for greater corporate profits and cheap labor. He can never admit that Russia has won the war in Ukraine . He can never acknowledge that China has 4X the population of the US, its economy is carefully planned and the government is sovereign over its corporations.
America has huge self-inflicted impediments to re-industrialization.
He can never admit that America's greed and failed foreign policy contributed to China's economic miracle. Now America must do what China did forty years ago.... rebuilding- which precludes forever wars and imperialism.
Trump's "demolition derby" is the unacknowledged rage that he presides over a fallen empire. It will be left to other wiser more capable leaders to make America great again.
How so very sad that millions, who had nothing to do with all this, are being made to pay a very steep price.
I think we need to go forward, not back. We've been building to this moment for decades, if not centuries. https://www.youtube.com/watch?v=H0tSYW-Qalw
Interesting how You Tube becomes a primary news source.
PS : I have just followed your link. It puts this whole mess in a very compelling historical context-- our societies now are "designed" to stop us from seeing our own enslavement.
On Friday I will be posting: The Tyranny of Unspoken Truths, more on enslavement...
That would be pathetic, Robert. Certain people and groups should be primary news sources, not YouTube.
I think that short video demonstrates something we've all been aware of at some level, and is being revealed through Israel's genocide and its support by the USA, the rest of western powers and media.