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Forum - Wall Street Pit    Stock Due Diligence for All

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From: alectric (Rep: 174) reply to apmooreDate: 07/12/2018 06:20
Forum: Wall Street Pit - Msg #2742393Thread #674020699 (Rec: 1)
Re: Do you think the tradeoff of gaining more jobs for Americans in the steel...It would definitely help the middle class if he can reinvigorate a domestic industry but future presidents would have to followup. He is trying to do this through executive orders and not through law so any future president can undo his executive orders in the same way he's canceled many of Obama's accomplishments through executive order. Without the certainty of law few domestic businesses would want to take the risk. You are already seeing a bipartisan effort in Congress to curb the President's authority to impose tariffs. I applaud the President's goal, for the Chinese trade advantage has gone on far too long, but I just don't think the President can pull it off. He just doesn't have everyone on board. He has a press hostile to him in general, much of it his own doing, and in order to succeed he needs everyone to support him. Think of the war effort in the 1940's where everyone was on board with FDR. It took an attack on Pearl Harbor and the menace of Nazism to get everyone on the same page.

Reply to apmoore - Msg #2742391 - 07/12/2018 00:09

Re: Do you think the tradeoff of gaining more jobs for Americans in the steel...

And I'm not sure how it really hurts China. The danger is that China has no trouble finding buyers around the world. Their products are cheap, they keep profit margins very high in other countries that import from them and when everyone is happy, they impose higher tariffs on goods coming into the country. They literally exploit capitalism of other countries, and then crush the competition with their communism -- government subsidies of Chinese firms. I don't think they need the US. Years and years of importing from the US, while extrapolating the science behind any goods or technology from those imports and using that to develop their own version of those same goods and technologies to compete against the US has put China in a very strong position on the Global economic front.

I think the move to domestic consumption works out very well in the long term for the US. Trump presidential term in office wouldn't see the benefits of it, but it would bear fruit afterwards. That move alone creates a huge industry of mineral resource extraction, mining, drilling, etc. in order to produce all the parts needed for fully homegrown home-produced American products. Its now or never for the US domestic consumption. It doesn't have to be a permanent fixture in US economics, but a sense of balance doesn't hurt from time to time. No problem with Global economics, but nothing should go in one direction for too long unopposed.
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