Understanding Bannon – Understanding Trump: The new age of Populist National Movements against establishment and for protectionism

Globalization might have solved some problems, but surely not all problems and probably created new problems that were not there from the beginning.

Crucial to understand is that the major function of private (!) banks is to create money out of nothing.

  • Illegal Immigration is used for wage/salary dumping
  • strong capitalist – is not going to start a left-wing breitbart – went to Harvard Business School

Very interesting and insightful discussion – may the truth be with you.

USA and Europe is losing the trade war against China – so protectionism arises.

A variety of policies have been used to achieve protectionist goals. These include:

  • Protection of technologies, patents, technical and scientific knowledge [12][13][14]
  • Prevent foreign investors from taking control of domestic firms[15][16]
  • Tariffs: Typically, tariffs (or taxes) are imposed on imported goods.
  • According to some political theorists, protectionism is advocated mainly by parties that hold far-left or left-wing economic positions, while economically right-wing political parties generally support free trade.[25][26][27][28][29]
    • well… no.
  • boom would generate enough revenue for tariffs to fall, and when the bust came pressure would build to raise them again
  • American growth during its protectionist period was more to do with its abundant resources and openness to people and ideas
  • Europe: “the immediate aftermath of the Napoleonic Wars, European trade policies were almost universally protectionist,” with the exceptions being smaller countries such as the Netherlands and Denmark.[35]
  • Britain: the Corn Laws (which imposed restrictions and tariffs on imported grain) substantially increased the cost of living for unskilled and skilled British workers, and hampered the British manufacturing sector by reducing the disposable incomes that British workers could have spent on manufactured goods
    • In 1813, a House of Commons Committee recommended excluding foreign-grown corn until the price of domestically grown corn increased to 80 shillings (£4—equivalent to £240 in 2016) per quarter (8 bushels): or currently equivalent to around £1,102 per tonne of wheat.[a][12] The political economist Thomas Malthus believed this to be a fair price, and that it would be dangerous for Britain to rely on imported corn because lower prices would reduce labourers’ wages, and manufacturers would lose out due to the decrease of purchasing power of landlords and farmers.[13]

https://en.wikipedia.org/wiki/Protectionism

… maybe we should just rename USA, like Great Britain, Great USA?

old wiki picture:

new wiki picture:

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