Peter Navarro says shrinking US economy is good news
Peter Navarro says shrinking US economy is good news
Donald Trump's chief trade adviser called the news "the best negative print I have ever seen in my life."
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We had a 22 percent increase in domestic investment.
That's good, it really is, but that in and of itself doesn't mean much. Industrial production left the US for a reason. What's changed? The cost of living has only gone up, especially housing, which means the cost of domestic labor is still going to be much higher than many other countries, so how do these US producers plan to turn this new capital investment into a profitable enterprise? How are they going to profitably produce quality goods that Americans can actually afford? Are they only going to make luxury goods for the highest income Americans? If so, who's going to serve the middle and the bottom income levels?
Thing is the article says the actual domestic investment growth was 9.8%, not 22%.
Inventories was also most of that. Means less production in future quarters.
exactly, that boost was to delay the inevitable crash that just around the corner
Maybe slave labor. Or possibly something that actively steals wealth. Like, buying out mortgages then telling families to triple up in the house to cover less food and higher rent. Basically whatever you can imagine that makes things worse for most of us is probably the plan.
If so, who's going to serve the middle and the bottom income levels?
Certainly not the government!
who’s going to serve the middle and the bottom income levels?
And laughter ensued from the 1%