We remain in limbo as to who will be president on January 21, 2021.
If what President Donald Trump’s post-election representatives are now saying is correct – the zeitgeist should be proven wrong yet again.
That being said, SOMEONE has to be president come January 21. And that someone has to engage in policy implementation.
The policy panoply Trump implemented was – pre-China Virus lockdowns – maybe the most successful policy panoply of any president ever. Certainly of any president in many decades.
Previous roaring economies hit most spots of the country – but not all. Trump’s economy did something no economy had done in at least many, many decades:
Dramatically raise the incomes of Americans at the lower end of the scale.
“A new Goldman Sachs report points out the following…:
“‘Wages have accelerated in recent months, and our wage tracker currently stands at a cycle-high pace of 3.4%. …
“‘Breaking down the wage acceleration by income level, we find that wage growth has picked up sharply in the bottom half of the wage distribution.…
“‘This pattern is consistent with our prior finding that lower income wage growth is more sensitive to slack….’”
What is meant here by “slack?”:
“A tighter labor market seems to be putting particular (upward) pressure on the lower-paid end.”
To increase (lower end) wages:
You need to tighten the “slack” in the (lower wage) labor market. And loosen the slack in the (lower wage) jobs market.
Which means you need less people – competing for more gigs. Less people and more gigs raise the demand for peoples’ services – and with it their wages. Because math.
Trump’s trade policies have dramatically increased the number of gigs.
And his immigration policies have dramatically decreased the number of non-US citizens competing with US citizens for US gigs.
All of which reversed many, many decades of US stupidity – where DC did all it could to do the opposite on both.
The US cut decades worth of ridiculous, unfair, America Last trade deals. Nigh every aspect of each was to maximize the movement of jobs out of the country.
Because Third World countries pay their employees less. So screw all those US workers.
But US trade deals were dumber still. We allowed every other country on the planet to – with government tariffs and limits – severely curtail what we could send them. Further undercutting US workers.
But US trade deals were dumber still. We allowed them to send us – nigh unlimited and un-tariffed – their dirt wage, price cut stuff here. Further undercutting US workers.
But US trade deals were dumber STILL. We allowed every other country to government-money-subsidize their dirt wage stuff – further artificially cutting their prices. FURTHER undercutting US workers.
By the time Trump arrived in DC, you could trampoline over the moon on the lack of slack in the US jobs market. It was a rubber band stretched beyond reason – to the point of near breakage.
Trump renegotiated or has been renegotiating many trade deals – to even the playing field. And bring (back) jobs to US – loosening the jobs market.
And strategically imposed minuscule tariffs – to even the playing field. And bring (back) jobs to US – loosening the jobs market.
If they’re going to subsidize their stuff – we MUST tariff their stuff.
Minuscule tariffs? Miniscule tariffs.
“$21 billion in 2019…is approximately 1/1000th of last year’s Gross Domestic Product (GDP).
“The tariffs paid – aren’t even a rounding error. Not even a mini-blip on the radar.
“And the US economic payoff…has been the best US economy in decades. Thanks to phenomenal economic, wage and stock growth. And extraordinarily improved global trade.
“Helped brought about – by the 1/1000th tariffs we’ve paid.
“I’d call that a mind-bogglingly remarkable return on our investment.”
The US has spent the last half-century-plus mass importing the Third World. Which has been VERY stupid policy for reasons as innumerable as the stars in the sky.
One such titanically stupid reason is – it has exponentially loosened (mostly) the US lower wage labor market. Because the Third World is the Third World – because it is full of low-skilled people who can only demand lower wages.
Importing fifty-million-plus low-skill people to compete with America’s low-skill people – is about as America Last as you can get. And it dropped the floor out from under the wages these people earn.
Trump did some important things to blockade the border and otherwise tighten immigration. But perhaps even more important than the Trump actions – was the Trump sentiment.
For the first time in MANY decades, a US president demonstrated he was serious about protecting our nation. And the sentiment alone worked wonders on lowering the numbers attempting to invade.
And because a US president was FINALLY taking US sovereignty seriously – so too did other countries.
Trump’s prevention of mass foreign labor market infusions – tightened the domestic labor market. And wages inexorably increased.
Should Biden succeed in stealing the election – will he keep any of Trump’s America and Americans First trade and immigration policies?
Of course not. Biden owes the world’s thugocracies billions of corrupt dollars worth of pre-paid fealty.
“Trade is one of the clearest areas where Biden can take unilateral action.”
Which means Biden the Butcher will yet again sell out America, its citizens and its economy like so many pounds of beef.
This first appeared in Red State.