Prof. Jeffery Sachs : The Disaster of Tariffs

Prof. Jeffery Sachs : The Disaster of Tariffs

Trump's "Liberation Day" - Reaction from Prof Sachs and world leaders.

[jajacat]

The best comment from a Russian in a discussion on another post: "It seems that Trump, looking at Russia, has assessed the benefits of sanctions and has decided to apply them to America" 🤣

[RealRexGrand]

US Congress has done little for decades to truly benefit this country. Well, they are very effective clapping and giving standing ovations to whatever Netanyahu says

[yozimerio]

Instead of dismantling the military-industrial complex after WW2, the US decided to debt finance it perpetually... Now we're paying for it: that's our deficit... In 1960, a factory worker could support a family of 3.4 people on average, and 58% of women worked; now over 80%f... That means that workers made way too much... They took the factories away... They created a service economy where financial and real estate services - debt- plays a major role... If public debt is 120% of GDP, private debt combined is over 200... They essentially enslaved Americans through credit cards, mortgages and car loans.

[petelevity]

All dying empires will kick and scream in the final years, but all empires die.

[LuvHrtZ]

Every slow moving train wreck is an eventual emergency, and the US is definitely a train wreck.

[dannyanson]

American investor class caused this. 70% of the stock market was valued on outsourced production. We do not make these products anymore.

[jackthelad]

Weve reeached critical mass in the world right now, wars, famine, genocide, tarriffs and NO ONE seems to be able to do anything to stop it, who could believe thos would ever be possible, we live amongst true Evil deeds and psychotic demons

[djdc]

"When a clown moves into a palace, he doesn't become a king; the palace becomes a circus" Turkish proverb

[TechnoboyTechnoBoy]

Everybody who is complaining about tariffs ought to be complaining even more about sanctions, which are an extreme form of tariff.

[kinfolk]

When I Graduated From High School in 1975, All Our Corporations Left America and Went To Other Countries, Just To Make A Few People Rich, Now The Chickens Have Came Home To Roost.

[islaminheart]

Mr professor is such a great brave gentleman all over the world right now

[carlcromwell]

No, the jobs are not gone because of automation. American companies have moved them overseas for cheaper labor.

[donalfromupnorth]

It’s not just robotics, American manufacturers chose to move production offshore to lower costs.
In the late 80s to mid 90s, Walmart told their suppliers, if you want us ti remain a customer, you must move your production to China. Bottom line: American business voluntarily eschewed domestic production.

[Didmasela]

As a geopolitical analyst and global political economist, I can honestly and truthfully argue that the USA declined since the mid 1990s because of the following major factors: 1- American companies(Tesla, Apple, Cisco Systems, Nike, Wal-Mart and many more) moved production overseas to high-tech, low-cost prodution centers of manufacturing in China, Vietnam, India. So both Trump and Biden should never blame the low cost production countries because it was corporate decisions to move away from high-cost production USA to make abnormal profist; 2- The huge annual military expenditure(800 billion us dollars) to maintain it's 800 military bases and personnel around the world to project USA's military and hegemonic power; 3- USA's tax system: Tax cuts on the very rich corporations and wealthy individuals has caused the USA government an annual revenue loss of over 4 trillion us dollars.

[scottbaird]

And these guys are not leftwingers. Just speaking reality.

[GreenosGarage]

Manufacturers left because of cheap labor and lower cost of doing business. Yet our government did nothing about them leaving. Our past presidents are responsible!

[claytontube]

I worked for an eyeglass lab, worked my way up to QC inspector, then they brought in automation so almost everybody's job is gone. No need for inspection if the machine doesn't make mistakes. Now there's just a few people loading job trays into machines.

[sarawilliam]

The tarriff plan will evidently lead to high inflation, the high inflation is a significant reason why most retirees have sleepless nights. The increase in prices of everyday items puts them at risk of running out of money. As prices rise, the amount of money retirees can withdraw from their retirement savings also increases.

[PeterT-zi]

Actually, jobs went to China in the late 90's because of cheap labour costs. I experienced firms sending equipment and transferring knowledge and skills. Automation is not the main reason for the loss of manufacturing jobs in the West.

[journeyman]

Correct me if I'm m wrong but didn't Ross Perot predict all of this during the Bush, Clinton, Perot presidential debates ? And while Im posing questions didn't Rep. Jim Traficant of Ohio warn us of the many ills of having blind faith in terms of Israel ?