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by smallmancontrov 24 days ago
> We literally can't lose

Who is "we"? Trade deficit dollars are recycled into assets, which compete with exports in the balance of payments. If you have a big house and fat brokerage account, you win big. If you have a job building shit, you lose big. If you have a job building tradeable shit and a low net worth, may god have mercy on your soul.

If you want the full economist version, "Trade Wars are Class Wars" by Klein and Pettis
1 comments
AbrahamParangi 24 days ago
We is the country. Yeah, not everyone gets to win the same amount at the same time. The alternative is just maga communism (pathetic).
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smallmancontrov 24 days ago
"We" is 10% of the country at best. Asset ownership is concentrated.

No, the alternative is Alexander Hamilton protectionism, which built the country into an industrial superpower that eclipsed the very shadow it was put in place to escape.

What's done is done, though. We successfully sold the industrial base of the USA to the Communist Party of China in order to pump our brokerage accounts. Winning?

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