(9 hours ago)IdeomotorPrisoner Wrote: I HATE PROTECTIONISM AND ISOLATIONISM.
Milton Friedman is writhing in his grave right now.
And I am disturbed we are ACTUALLY blaming Canada.
Plus, I thought when a country puts tarriffs on goods coming into the country it is mostly passed to the consumer in the country that imposed the tariffs.
Like when UK imports something American (the American company) raise the prices to compensate for the tariffs and makes the end product absorb the cost...
And when people cheer on these reciprocal tariffs they are actually cheering OUR costs going up after the EU company raises their prices to compensate.
Like with the hockey gear. Bauer will raise their prices up to 50% and pass the cost to the USA buyers, if they still want superior canadian hockey equipment.
When did our foreign policy become so destined for the anchor chain?
And equally as self-destructive as any other law of retribution when applied collectively..
Some decades ago, in 2012, the US national debt exceeded GDP, which it had only ever done previously, briefly in 1945 (well, there was a world war on). However, from that 2012 crossover point, US debt has
remained higher than US GDP.
What this means in simple terms is that the USA cannot pay its debts accrued within any accounting period, within that accounting period. The USA, the entire country, has been living on debt since 2012.
There have been numerous attempts to reign in the debt over US history, but since there wasn't actually ever enough to pay it off, it has continued to accrue for the last 14 years.
At present, there is significant international belief that the USA will never be able to clear its debt.