William McKinley, the veteran of Antietam who gave his name to the McKinley Tariff, declared four years before being elected president: âFree trade results in our giving our moneyâ¦our manufactures and our markets to other nations. â¦It will bring widespread discontent. It will revolutionize our values.â
Campaigning in 1892, McKinley said, âOpen competition between high-paid American labor and poorly paid European labor will either drive out of existence American industry or lower American wages.â
Substitute âAsian laborâ for âEuropean labor,â and is this not a fair description of what free trade did to U.S. manufacturing these last 25 years? The results have been some $12 trillion in trade deficits, arrested wages for our workers, six million manufacturing jobs lost, 55,000 factories, and plants shut down.
McKinleyâs future vice president Teddy Roosevelt agreed with him: âThank God I am not a free trader.â
What did the Protectionists produce?
From 1869 to 1900, GDP quadrupled. Budget surpluses ran for 27 straight years. The U.S. debt was cut two-thirds to 7 percent of GDP. Commodity prices fell 58 percent. Americaâs population doubled, but real wages rose 53 percent. Economic growth averaged 4 percent a year.
And the United States, which began this era with half of Britainâs production, ended it with twice Britainâs production.
—There are only two social sciences: the law of tort (property), and its facility and measurement: economics. The problem is macro economics seeks to circumvent the law, and the law is ignorant of macro economics.—
—There are only two social sciences: the law of tort (property), and its facility and measurement: economics. The problem is macro economics seeks to circumvent the law, and the law is ignorant of macro economics.—
The problem is (a) delayed entry into the workforce by unnecessary education, excessive educational debt, and immigrant labor filling entry level jobs, (b) immigration of cheap labor favoring upper middle and upper classes at the expense of the working and under classes (c) common property, no fault divorce, alimony and child support guaranteeing elder male poverty and alienation, (d) the replacement of the ‘easy jobs’ with females at the expense of replacement rates of reproduction, and the displacement of males who are less able to self-modify to suit heavily female environments into only the dangerous, physically degenerative, and dirty jobs – or out of the workplace altogether. Business satisfy demand, but government creates demand by immigration, taxation, and family policy. Fools talk about what is good directly (oughts), and adults talk about incentives that produce goods (is’s). Unfortunately due to Dunning Kruger education effects popularized by the island 120 median, the fools do not know they are such.
William McKinley, the veteran of Antietam who gave his name to the McKinley Tariff, declared four years before being elected president: “Free trade results in our giving our money…our manufactures and our markets to other nations. …It will bring widespread discontent. It will revolutionize our values.”
Campaigning in 1892, McKinley said, “Open competition between high-paid American labor and poorly paid European labor will either drive out of existence American industry or lower American wages.”
Substitute “Asian labor” for “European labor,” and is this not a fair description of what free trade did to U.S. manufacturing these last 25 years? The results have been some $12 trillion in trade deficits, arrested wages for our workers, six million manufacturing jobs lost, 55,000 factories, and plants shut down.
McKinley’s future vice president Teddy Roosevelt agreed with him: “Thank God I am not a free trader.”
What did the Protectionists produce?
From 1869 to 1900, GDP quadrupled. Budget surpluses ran for 27 straight years. The U.S. debt was cut two-thirds to 7 percent of GDP. Commodity prices fell 58 percent. America’s population doubled, but real wages rose 53 percent. Economic growth averaged 4 percent a year.
And the United States, which began this era with half of Britain’s production, ended it with twice Britain’s production.
—There are only two social sciences: the law of tort (property), and its facility and measurement: economics. The problem is macro economics seeks to circumvent the law, and the law is ignorant of macro economics.—
photos_and_videos/your_posts/37782797_10156523234712264_4987516826721189888_o_10156523234702264.jpg Steve PenderI was surprised their market cap is now 500B, hadn’t noticed since their IPO when I laughed at 100B. I just don’t see it, still don’t.Jul 26, 2018 4:08pmCurt Doolittlethere is a long way to go downJul 26, 2018 4:09pmRob EllermanWhen they moved past GE I knew we were in bizarro world — then GE launches their ad campaigns about how they were a millennial tech friendly company … it’s just stupidity squaredJul 26, 2018 4:41pmMichael ChurchillThey have 2.2 billion users. That is a lot, and justifies a very large valuation. Part of what’s happening is the law of large numbers: How much more can they grow? Also youths are being drawn to other, more operationally retarded platforms.
The underlying principle of Facebook is still fabulous. The problem is pollution of the commons. It requires diligence to constantly block people who post stuff that is not interesting to oneself.
Curt’s idea that it should be a utility and regulated as such makes sense in a way. That said, to say Facebook is a utility is to sort of suggest that there shouldn’t be competition between social networking sites. But that doesn’t seem right either. We have Twitter, Instagram, Linked In. They all compete with Facebook.Jul 26, 2018 4:48pmJC TrottTrump curse strikes againJul 26, 2018 4:59pmCurt Doolittle???Jul 26, 2018 4:59pmRob EllermanNot debating the value and network effects of a large user base – The economics of software development is changing rapidly … another way to state it is easy come … easy goJul 26, 2018 5:00pmJC TrottEverything/everyone that goes against him winds up fucked.Jul 26, 2018 5:00pmJC TrottIt’s been happening since before the election. Look at the CEOs that talked shit, the countries that talked shit, the international leaders that talked shit, the Hollyweird people that talked shit. Everybody/ every organization that talks shit about him gets kicked in the teeth.Jul 26, 2018 5:01pmSteven KolpekFolks who skip the Trump Train gets caught out in the rain.Jul 26, 2018 5:33pmJC TrottThat’s because there’s no brakesJul 26, 2018 5:33pmDavin EastleyInstagram is owned by FB. :)Jul 26, 2018 5:36pmSabrina SilviuI bet there will be huge buy volumes after this.Jul 26, 2018 6:52pmSabrina SilviuMy fund bought western union after it dropped 1/3 of its value amid an exaggerated downward momentum in fall of 2012. Don’t take ‘jumps’ as such too seriously as a long term investor on large caps, for more serious warning signs of downward pressure can be seen in consolidated movements over the years (see the chart of arcelor mittal for example). Of course it all depends on your time horizon
https://www.google.com/amp/s/www.foxbusiness.com/features/western-union-whacked-25-lower-on-gloomier-12-view.ampJul 26, 2018 7:10pmHolly MorriganUsers leaving a platform with notoriously biased and heavy-handed censors? imagine my shockJul 26, 2018 7:34pmTony SzaboUser growth is allegedly not what was projected and the EU regulations are being blamed. So it seems speculation not valuation. Might have something to do with certain people unhappy about the CEO saying holocaust denial can be a genuine point of view.Jul 26, 2018 8:13pmEric BestYounger users leaving a platform after the boomer invasion.Jul 26, 2018 9:36pmEly HarmanThere is only one major social media site in each basic format.Jul 27, 2018 2:57amChristopher IvančićIf the Zucc only banned “Holocaust Deniers” then none of this would ever of happened..Jul 27, 2018 2:53pm
photos_and_videos/TimelinePhotos_43196237263/37782797_10156523234712264_4987516826721189888_o_10156523234702264.jpg Steve PenderI was surprised their market cap is now 500B, hadn’t noticed since their IPO when I laughed at 100B. I just don’t see it, still don’t.Jul 26, 2018 4:08pmCurt Doolittlethere is a long way to go downJul 26, 2018 4:09pmRob EllermanWhen they moved past GE I knew we were in bizarro world — then GE launches their ad campaigns about how they were a millennial tech friendly company … it’s just stupidity squaredJul 26, 2018 4:41pmMichael ChurchillThey have 2.2 billion users. That is a lot, and justifies a very large valuation. Part of what’s happening is the law of large numbers: How much more can they grow? Also youths are being drawn to other, more operationally retarded platforms.
The underlying principle of Facebook is still fabulous. The problem is pollution of the commons. It requires diligence to constantly block people who post stuff that is not interesting to oneself.
Curt’s idea that it should be a utility and regulated as such makes sense in a way. That said, to say Facebook is a utility is to sort of suggest that there shouldn’t be competition between social networking sites. But that doesn’t seem right either. We have Twitter, Instagram, Linked In. They all compete with Facebook.Jul 26, 2018 4:48pmJC TrottTrump curse strikes againJul 26, 2018 4:59pmCurt Doolittle???Jul 26, 2018 4:59pmRob EllermanNot debating the value and network effects of a large user base – The economics of software development is changing rapidly … another way to state it is easy come … easy goJul 26, 2018 5:00pmJC TrottEverything/everyone that goes against him winds up fucked.Jul 26, 2018 5:00pmJC TrottIt’s been happening since before the election. Look at the CEOs that talked shit, the countries that talked shit, the international leaders that talked shit, the Hollyweird people that talked shit. Everybody/ every organization that talks shit about him gets kicked in the teeth.Jul 26, 2018 5:01pmSteven KolpekFolks who skip the Trump Train gets caught out in the rain.Jul 26, 2018 5:33pmJC TrottThat’s because there’s no brakesJul 26, 2018 5:33pmDavin EastleyInstagram is owned by FB. :)Jul 26, 2018 5:36pmSabrina SilviuI bet there will be huge buy volumes after this.Jul 26, 2018 6:52pmSabrina SilviuMy fund bought western union after it dropped 1/3 of its value amid an exaggerated downward momentum in fall of 2012. Don’t take ‘jumps’ as such too seriously as a long term investor on large caps, for more serious warning signs of downward pressure can be seen in consolidated movements over the years (see the chart of arcelor mittal for example). Of course it all depends on your time horizon
https://www.google.com/amp/s/www.foxbusiness.com/features/western-union-whacked-25-lower-on-gloomier-12-view.ampJul 26, 2018 7:10pmHolly MorriganUsers leaving a platform with notoriously biased and heavy-handed censors? imagine my shockJul 26, 2018 7:34pmTony SzaboUser growth is allegedly not what was projected and the EU regulations are being blamed. So it seems speculation not valuation. Might have something to do with certain people unhappy about the CEO saying holocaust denial can be a genuine point of view.Jul 26, 2018 8:13pmEric BestYounger users leaving a platform after the boomer invasion.Jul 26, 2018 9:36pmEly HarmanThere is only one major social media site in each basic format.Jul 27, 2018 2:57amChristopher IvančićIf the Zucc only banned “Holocaust Deniers” then none of this would ever of happened..Jul 27, 2018 2:53pm
Americans are Optimistic – Stock Market and Technology Canadians Less So – Real Estate (selling homes to immigrants) Brits Less So – Bond Market, Banking, Finance, Trade Germans Less So – Large Scale, heavy capital, manufacturing and tech. Italians Less So – Luxury Goods and Produce Poles Less So – Machinery and manufacturing. Russians Less So – Military Investment, and resources.
From Risky to Less Risky – our cultures determine our products because they determine the size of the companies we can build, the risk of production we can tolerate, and the rate of change we can competitively adapt to.
Americans are Optimistic – Stock Market and Technology
Canadians Less So – Real Estate (selling homes to immigrants)
Brits Less So – Bond Market, Banking, Finance, Trade
Germans Less So – Large Scale, heavy capital, manufacturing and tech.
Italians Less So – Luxury Goods and Produce
Poles Less So – Machinery and manufacturing.
Russians Less So – Military Investment, and resources.
From Risky to Less Risky – our cultures determine our products because they determine the size of the companies we can build, the risk of production we can tolerate, and the rate of change we can competitively adapt to.
