[_5ysi]

I couldn't agree more with everything you have said here!

On the justifications for opening international trade, I believe, contrarily, that Nixon was one of the greatest president of the 20th century and that opening trade with China was a most important decision affecting humanity's survival. But since then, government policy has seemed blind to the fact that the working class has been paying all of the costs.

I agree we need to do something in the meantime, before global prosperity is able to rise close enough to our own. Conveniently, I also think the current organization of global fiat currencies is exacerbating the effects of globalization on American workers and preventing them from benefiting from technological advances which would otherwise be minimizing the problem. If we could get our government spending under control, then set the target inflation rate to zero, and even be unafraid of minor deflation caused by manufacturing and efficiency improvements...this would do a lot to blunt the growing inequality between existing wealth and work. Trade deficits financed by fiat currency would have a supply/demand correction if we didn't provide so many short circuits for reserve note capital to return to the US.