Daily Archives: June 12, 2018

Death By China: How America Lost Its Manufacturing Base

YouTube has the video Death By China: How America Lost Its Manufacturing Base (Official Version).

This award-winning film examines the US-China trade relationship. The companion Crouching Tiger ten episode documentary on YouTube is based on the best-selling book Crouching Tiger: What China’s Militarism means for the world.

I haven’t had the time or the stomach to watch much of this video. In what little I have seen, I keep wondering where is the voice of the workers. If you watch more of it, you may be able to tell me where I missed it.

The trouble with the world’s trade policies and free trade agreements is that they are all based on the concerns of corporations, with little thought to the concerns of the workers.

In the case of China, the Chinese workers are probably getting the benefits of improving living standards while the owner, managers, and the elites improve their lot even more. In the USA, the corporations get the benefit of cheap labor, and the USA workers are getting their living standards hammered. This is not the fault of the Chinese workers, or as much the fault of the Chinese government as this video would have you believe.

It is a tough problem to solve to improve the lives of all workers, everywhere in the world. However, if no workers anywhere have a voice in trade deals, then we will never even work on solving problems for workers, let alone finding actual solutions.

So don’t let corporations and their owners pit the workers in one place against the workers in another place. We need some universal solidarity among workers everywhere to improve everybody’s lives as much as possible.

I found this video on JustNform. Since I am new to JustNform, I haven’t figured out how to share the postings with non-members. To use the previous link to JustNform, you have to be a member. I feel it somewhat unfair to give the initial credit to YouTube instead, but for the time being, this is the only solution I know how to implement.

Trump Vows to End “Provocative” War Games on Korean Peninsula After Historic Summit with Kim Jong-un

Democracy Now has a series of video segments starting with Trump Vows to End “Provocative” War Games on Korean Peninsula After Historic Summit with Kim Jong-un.

President Donald Trump and North Korean leader Kim Jong-un have wrapped up a historic summit pledging to work toward complete denuclearization of the Korean Peninsula, with President Trump announcing the end of U.S.-South Korean war games. The summit marked the first-ever meeting between a sitting U.S. president and a North Korean leader. For more, we speak with investigative journalist Tim Shorrock in Singapore.

The new regime in South Korea may have made this possible. The Obama regime with Secretary of State Hillary Clinton did not have a good record with North Korea, possibly because they did not have a good partner in South Korea. Another possibility is that President Hillary Clinton might have been far more belligerent than Trump has proved to be,

Although I did not vote for Trump, maybe I was right to think that it was not so sure that Clinton would have been better, and I had a clear conscience not supporting Clinton.

If the Democrats try to block this peace initiative, or if Lindsay Graham wants an Authorization to Use Military Force (AUMF) to threaten North Korea to be peaceful, I will do my best to let everyone know how stupid these moves would be. In my efforts to excoriate promotion of hostility toward peace it will make no difference to me who promotes such stupidity. I will firmly support efforts toward peaceful resolution. Sanders and Schumer, are you listening?

More from this Interview

Democrats Should Reject Bernanke’s ‘Wile E. Coyote’ Criticism of Trump’s Deficits

New Economic Perspectives has the article Democrats Should Reject Bernanke’s ‘Wily E. Coyote’ Criticism of Trump’s Deficits.

Ben Bernanke recently gave a speech predicting that President Trump’s deficits will cause the economy to “go off a cliff in 2020.” Many Democratic Party politicians, of course, will rush to embrace the criticism and prove that they are the true party of fiscal responsibility. They can then get back to pushing for increased taxation and cuts to the safety net “to save it” from collapse – and feeling virtuous. These Democrats will glory in their supposed virtue and gravitas as they oppose ‘excessive’ stimulus, cut the safety net to ‘save it,’ oh-so-judiciously cut funding for social programs, and push for higher taxes. They know this is bad politics, but that adds to their faith that the more bitter the medicine the greater the curative properties. Faith-based federal deficit phobia, however, is terrible economics and terrible politics.

This is a very good explanation of the tsunami of propaganda that is about to crash upon us.

I’d like to also mention that it matters what we spend the money on while we are running a deficit.

If we spent the money on an investment that created more value than it cost, it would improve our well being. As an example, investing in productivity enhancing capital (including infrastructure), would alleviate the current seemingly full employment as a barrier to economic expansion. Even better would be if the benefits of productivity enhancement were equitably shared with the workers.

If we spend too much on the military, particularly stuff that we blow up when we use it, then this is not an investment that leaves any useful infrastructure behind.