Are you ready? I think this is gonna be a rough couple years.

[Amish Heart]

https://www.americanthinker.com/art...ent_manufacturing_jobs_to_china_comments.html
September 19, 2016

How Bill Clinton Sent Manufacturing Jobs to China​

By Michael Bargo, Jr.




On May 28, 1993 Bill Clinton signed Executive Order 12850. This improper EO changed the way the U.S. made trade deals with China and led to the loss of tens of millions of American manufacturing jobs. The story of how this was done not only proves that the Clintons are behind the loss of American jobs, but shows how Bill Clinton established a Democratic strategy for manipulating foreign policy that was copied by both Hillary while she was Secretary of State and Obama while he was president.

At the time, U.S.-China trade relations were conditioned upon China’s humanitarian treatment of its own citizens. Americans had seen protesters in Tiananmen Square crushed by Chinese tanks. The brutality of the Chinese toward unarmed protesters had shocked Americans so much that China was required to treat its citizens in a humanitarian way in order to maintain its MFN (Most Favored Nation) status.
China desperately needed to keep its MFN status for one reason: only with MFN status could it get a huge discount on tariffs it had to pay to the U.S. With MFN Chinese manufacturers only had to pay a 6% tariff. Without it they would have had to pay an unprofitable 40%. So without its MFN status China couldn’t as easily compete with American manufacturers. China’s MFN status was suspended during the Korean War, but conditionally reinstated in 1980 under the Jackson-Vanir freedom of emigration amendment to the Trade Act of 1974.

This is where Bill Clinton stepped in. With his 1993 Executive Order, he unconstitutionally seized control of the MFN conditions, removing it from the involvement of Congress, just as Obama seized treaty control away from the Senate with his Iranian nuke deal.
Clinton’s Executive Order was issued at a time when the U.S.-China trade deficit was only $18 billion a year. In 2015 the deficit was $367 billion.

Aha it was Clinton, not Carter. I knew it was a C guy.

 

[Hardcalibres]

BRICS nations now have 45% of the worlds population and about 40% of the world's GDP.

BRICS was specifically setup to break any control the US has over the world around it.

At the current rate of nations joining BRICS, both those metrics will be >50% in about a year.

The US will not survive the world abandoning the US dollar as the common world trading currency.

That is the elephant in the room.

US Isolationism was unwise a hundred years ago.......but now it is just plain silly. The US needs the money it makes offshore to sustain even the consumption that all would agree is the minimum. The US is stuck with the rest of the planet whether it likes it or not. All the US can do is try to make the rest of the planet play by US rules.......and make other nations pay a fee to the US for the order it provides........but that is the opposite of isolationism.

Do tariffs and a trade war started by the US make other nations more or less likely to join BRICS?

Why fight a more aggressive trade war against non-BRICS nations than BRICS nations?

Tariffs are a tax on consumers..........and so they will put upwards pressure on inflation.......which had not been beaten.

Those who are doing it tough on a fixed income now should be worried. They are on the front line of the trade war.

......and a final warning on the underlying approach in the US now.......Oligarchies only benefit the Oligarchs. There is never enough left over to benefit ordinary folks.

The revenue raised by these tariffs are going to be used to cut corporate tax rates.......which will be very popular with the Oligarchs that spent a lot on campaign donations.

 

[Neb]

....

The revenue raised by these tariffs are going to be used to cut corporate tax rates.......which will be very popular with the Oligarchs that spent a lot on campaign donations.

Aren't corporate taxes passed on to the consumer?

Ben

 

[Hardcalibres]

Aren't corporate taxes passed on to the consumer?

Ben

Perhaps when taxes go up.........but when they come down.........Not necessarily.

The US corporate world was once well connected to the US population......but no more. A few years ago, when interest rates were low, many US corporations were borrowing money, calling it profit and paying the senior executives bigger bonuses.

Don't expect the Oligarchs to bring ordinary Americans along for the ride.

They can see the writing on the wall. If they get a windfall now, they will be finding a place to store that in safety (which may well be offshore).

 

[rice paddy daddy]

As Hardcalibres correctly points out, the fact that the US dollar is the world's reserve currency, and the fact that oil is traded in US dollars, is the only thing keeping this country from bankruptcy.

Politicians in BOTH parties have misused the trust the world has in the dollar to literally print trillions upon trillions out of thin air to spend currying favor.

 

[Mountain trapper]

The new guy seems willing to make sure we live like a third world nation and we should like it.

Why do you keep saying "the new guy"? Are you trying to be insulting? In case you haven't heard the American people voted for Donald Trump for president by an overwhelming majority.

 

[Magus]

You strike me as someone who's intelligent enough to carve out a living

Maybe back in the old days I could, but I can't stand, walk, or sit for more than ten minutes without being bedridden for 3-5 days. I used to get by making knives and sharpening tools, but not anymore, all because some monkey-faced Mexican had to be eating a taco instead of watching his job! That wasn't racial by the way, the little SOB was as ugly as any ape you ever saw! Makes me wonder why I bother to prep. I guess I'm too stupid to quit.

 

[Magus]

Oh look, Canada broke just like Mexico.
https://www.foxnews.com/politics/trump-agrees-pause-tariffs-canada-exchange-more-border-enforcement

I told you guys, the Don has a plan!

 

[Hardcalibres]

Canada and Mexico are a side show in this......and they have just agreed to "talks".

The progress of BRICS expansion and the bilateral trade imbalance between the US and China is the real (multi trillion dollar) issue.

 

[SOAH]

My employer at that time let us know when new management had taken over that there would be absolutely no alterations for our behalf, and that if we were told to be there, we needed to be there or we would be fired. That was a major reason there was a mass Exodus in my department a few months later. They are one of the biggest employers in the area though.

We had kids when we were stable enough with 1 income and no debt. 2 health emergencies requiring hospitalizations, a completely tanked economy and damage to our home changed circumstances. Sometimes the best laid plans don't work out.

Look, I hope you don't think I am passing any judgement on you. I only explained what we did when we did it. We almost lost our house in 2008 when the economy tanked. Both our jobs dried up and we worked whatever we could to make ends meet. Wiped out a lot of retirement savings to keep our home and made concessions with work and what we deemed important. We were blessed in the end and decided what actually mattered. I grew up hungry in the early years; watching mom eat a mustard sandwich on a single slice of bread so I could have the last one for a sandwich with a single slice of lunch meat or peanut butter. We survived. Fast forward to adulthood, I determined I would never be so poor that I could not eat or provide food for my family. I've given up a lot. Yes, my current vehicle is a 2018. Bought with a $6000 trade and $5000 cash. Financed the remaining $12000. Finally paid off 5 years later. I just want you to know I as well as many others have fought this fight and you will make it through with some effort. I didn't plan on my wife having open heart surgery this past summer. We were fortunate that medicare covered most of it. As you said, sometimes plans don't go as expected but either way you push through. I voted Trump hoping our great grandchildren have a future. It may be rough the next couple of years but we will get there. The previous administration did nothing to further the position of the working class in my opinion and I believe that Trump previously had the best interests of the American people and is putting that as a priority again. I hope you get my point. It will get better.

 

[Magus]

Canada and Mexico are a side show in this......and they have just agreed to "talks".

The progress of BRICS expansion and the bilateral trade imbalance between the US and China is the real (multi trillion dollar) issue.

"Talks" buys time and indicates a suitable compromise can be had.

 

[Patchouli]

Couldn’t afford childcare, wanted to be a stay at home mom anyway. My husband made good money but grandparents watching the kids would not have been doable. Compared to other families we were in poverty (not really but it was tight).
Yes, I think we’re in for a tight

 

[Mountain trapper]

When my kids were little I worked as a welder starting out a $5.36 per hour. We never had childcare for the kids. Their mom stayed home with the kids. Sure it was tight, but we managed to raise 2 kids and buy a house, starting out at 19 years old. I worked every bit of overtime that I could get, plus I did ranch work whenever possible too @ $2.75/hour. I never once felt that we were in "poverty". It's just the way things were.

 

[montanabill]

Interesting thread.....
As far as jobs for two working parents with kids....check into night watch for someone who is disabled and staying in their home with family...You might need to change adult diapers but the job can pay you to mostly sleep...

Double up with someone else...we share our home with a young family and a deadbeat teen.. We look after the toddler on the rare occasion and between the two families we have several cars that usually run. The family chips in on our house payment and it works for everyone..

What habits do you currently have that will get much more expensive in the future? We have a selection of stainless insulated drink cups (bought at the thrift store) so we take our coffee with instead of buying those expensive double soy foamed organic sprinkled drinks. The time to implement new habits and lose old ones is now before it goes cold turkey.

I expect to see boarding houses and poor farms in the future... Investigate what your role will be.

If you have no assets and no ability to make enough money to support yourself and those you care about.......time to try something different.. Human nature is to survive so get to it.

If you won't do a lesser job and would rather starve.......better invest in this book.
https://www.amazon.com/Final-Exit-P...8633350&sprefix=the+final+exit,aps,227&sr=8-1