We are told that protective tariffs are necessary to save jobs. We are told that high-wage countries like the United States cannot compete with low-wage countries like Vietnam and China. We are told that the dumping of products needs to be addressed with protective tariffs. But we are never told the whole truth. Politicians and mainstream news outlets never really evaluate the whole picture when it comes to tariffs. They never explain who really pays. They never ask the question: What about the consumer?
Welcome to Episode 22 of Whiskey Tango's Run Down!
This week, we discuss the suspension of Mexican tariffs, "Based Amy" takes out the Trump baby blimp, deputy arrested after investigation into his actions at Parkland, Google lawsuit in the discovery phase, really creepy Joe Rogan AI voice copies, and a little discussion about selective outrage.
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Trade War On Hold? Trump, Xi, And The G20 Summit Video (15 second intro) - Monday December 3, 2018 -Ron Paul and Daniel McAdams Written by Daniel McAdams - With the G20 Summit in the bag, what are the top takeaways? A missed opportunity for Trump to pursue diplomacy with his Russian counterpart. Trump's successful dinner visit with Chinese leader Xi. But will we be better off after the very expensive Argentina junket? Tune in to the Liberty Report:
Weekly Update --- Protectionism Abroad and Socialism at Home Video - Wednesday August 22, 2018 - Ron Paul By Ron Paul - One of the most insidious ways politicians expand government is by creating new programs to “solve” problems created by politicians. For example, government interference in health care increased health care costs, making it difficult or even impossible for many to obtain affordable, quality care. The effects of these prior interventions were used to justify Obamacare.
Now, the failures of Obamacare are being used to justify further government intervention in health care. This does not just include the renewed push for socialized medicine. It also includes supporting new laws mandating price transparency. The lack of transparency in health care pricing is a direct result of government policies encouraging overreliance on third-party payers.
This phenomenon is also observed in foreign policy. American military interventions result in blowback that is used to justify more military intervention. The result is an ever-expanding warfare state and curtailments on our liberty in the name of security.
Another example of this is related to the reaction to President Trump’s tariffs. Many of America’s leading trading partners have imposed “retaliatory” tariffs on US goods. Many of these tariffs target agriculture exports. These tariffs could be devastating for American farmers, since exports compose as much as 20 percent of the average farmer’s income.
President Trump has responded to the hardships imposed on farmers by these retaliatory tariffs with a 12 billion dollar farm bailout program. The program has three elements: direct payments to farmers, use of federal funds to buy surplus crops and distribute them to food banks and nutrition programs, and a new federal effort to promote American agriculture overseas.
This program will not fix the problems caused by Tramp’s tariffs. For one thing, the payments are unlikely to equal the money farmers will lose from this trade war. Also, government marketing programs benefit large agribusiness but do nothing to help small farmers. In fact, by giving another advantage to large agribusiness, the program may make it more difficult for small farmers to compete in the global marketplace.
Distributing surplus food to programs serving the needy may seem like a worthwhile use of government funds. However, the federal government has neither constitutional nor moral authority to use money taken by force from taxpayers for charitable purposes. Government-funded welfare programs also crowd out much more effective and compassionate private efforts. Of course, if government regulations such as the minimum wage and occupational licensing did not destroy job opportunities, government farm programs did not increase food prices, and the Federal Reserve’s inflationary policies did not continuously erode purchasing power, the demand for food aid would be much less. By increasing spending and debt, the agriculture bailout will do much more to create poverty than to help the needy.
Agriculture is hardly the only industry suffering from the new trade war. Industries — such as automobile manufacturing — that depend on imports for affordable materials are suffering along with American exporters. AFL-CIO President Richard Trumka (who supports tariffs) has called for bailouts of industries negatively impacted by tariffs. He is likely to be joined in his advocacy by crony capitalists seeking another government handout.
As someone who has studied (non revisionist) history to the point of receiving a degree in it, when I came across this opinion piece in the Washington Post, I had to do a video on it. Especially with the fact of the childish title and the author’s attempt to come across as authoritative on subjects she clearly knew very little about, but thought she could fool people. When she is trying to claim that the Great Depression was the result of tariffs and that the US wasn’t built/financed by them, we are taking a look at that.
After decades of Europe, China, and others taking advantage of the United States President Trump struck back by enacting tariffs on imported raw steel and aluminum from the EU, Canada, and Mexico. In response the EU placed tariffs on finished products such as bluejeans, bourbon, motorcycles. All of which are either premium or luxury products that people are willing to pay extra to have.
Regardless of this fact, Harley-Davidson decided to try to play the new EU tariff as an excuse to cut American production, and with that jobs for Americans, so they can move it to one of their manufacturing facilities in the Third World. In this video their claims for the move are debunked.
Tariffs Are Not the Answer Video 5:04 min. Monday March 12, 2018 Ron Paul By Ron Paul - President Trump’s planned 25 percent tariff on steel imports and 10 percent tariff on aluminum imports may provide a temporary boost for those industries, but the tariffs will do tremendous long-term damage to the American and global economies. Tariffs raise the price of, and reduce demand for, imported goods. Tariffs ensure the preferences of politicians, instead of the preferences of consumers, to determine how resources are allocated. This reduces economic efficiency and living standards.
Some justify these economic inefficiencies as being worth it to save American jobs. This ignores how tariffs increase costs of production for industries reliant on imported materials to produce their products. These increased costs lead to job losses in those industries. For example, President Trump’s proposed steel tariff could cost nearly 40,000 jobs in the steel-dependent auto manufacturing industry. Tariffs also cause job losses in industries reliant on exports. This is especially true if — as is likely to be the case — other countries respond to President Trump’s actions by increasing tariffs on US products.
Many of President Trump’s critics do not themselves support true free trade, which is the voluntary exchange of goods and services across borders. Instead, they support the managed (by government) trade of NAFTA and the World Trade Organization (WTO). NAFTA and the WTO promote world government and crony capitalism, not free markets. Any libertarian or free-market conservative who thinks the WTO promotes economic liberty should remember that the WTO once ordered Congress to raise taxes!
Foreign manufacturers may make convenient scapegoats for the problems facing US industry. However, the truth is that most of the problems plaguing American businesses stem from the US government. American businesses are burdened by thousands of federal regulations controlling every aspect of their operations. The tax system also burdens businesses. Until last year’s tax reform bill, the US had the highest corporate tax rates in the developed world. The tax reform bill lowered corporate taxes, but the US corporate tax rate is still higher than that of many other developed countries.
The United States not only spends more on military weapons than the combined budgets of the next eight biggest spending countries, but also spends billions subsidizing the defense of developed counties like Germany, Japan, and South Korea. Bringing US troops home from these countries is an excellent place to start reducing spending on militarism.
The biggest cause of our economic problems is the Federal Reserve. America’s experiment with fiat currency has enabled a system based on private and public debt. This makes trade imbalances inevitable as the US government needs foreign investors to purchase its debt. Foreign investors get the money to purchase the US government’s debt by selling products to American consumers. A trade war could cause foreign investors to stop buying US debt instruments and could end the dollar’s world reserves currency status. This would cause a major economic crisis — but at least it would stop our shores from being flooded with “cheap foreign goods.”
President Trump’s claim that trade wars can be easily won is as credible as the neoconservative claim that the Iraq War would be a cakewalk. A trade war would likely push the global economy into a recession or worse. Instead of imposing costs on American businesses and consumers and putting those whose livelihoods depend on imports out of a job, President Trump should address the real causes of our economic problems: the welfare-warfare state, the IRS, and the Federal Reserve. http://www.ronpaullibertyreport.com/archives/tariffs-are-not-the-answer
Sarah Corriher explains how President Trump's recently announced tariffs on steel and aluminum will help to rebuild American industry, reduce our reliance on China, and allow America to return as a powerhouse in manufacturing. She also describes how these tariffs have led the North Korean regime to consider abandoning its nuclear program, and engage in peace talks with the United States.
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Earlier today Donald Trump enacted historic tariffs against steel and aluminum imports. The move was hailed by nationalists as a much-needed protection that puts American steelworkers first. Here are President Trump's remarks given after he signed the tariffs into law.
SEC is now warning that crypto trading platforms might be unlawful. Job market is at full capacity, the only problem is that the quality of jobs is low and wages are declining. Trump pushes his agenda in regards to tariffs, more individuals resign their posts in government. The IMF warns not to push trade wars, the FED says they might halt hiking the interest rate if Trump pursues implementing these tariffs. Rand Paul pushes hard with the audit the Fed bill, now is the time to control the economic narrative and to take down and dismantle the Fed.
The trade wars have begun, but what does this mean? To find out we need to go back in time and look to see if other Presidents tried to do the same thing. Trump is pushing tariffs and reciprocal taxation, why the push what is he trying to accomplish? Mark Carney says that cryptocurrencies are not money, this is what the central banks do they demonize anything that can threaten their system. Germany decides they will not tax cryptos when used to pay of items. The race to bring down the economy has officially begun.
Trump on Tariffs: Punish China By Taxing Americans Video 19:33 min. Friday March 2, 2018 Ron Paul and Chris Rossini Every special interest has a pitch on how to get government benefits at the expense of everyone else. This week we get the steel industry pitch. Beat China by paying a tax to the U.S. government. With enough propaganda, Americans will go along with it. But Ron Paul will tell the truth instead.