Trump Plans To Ruin USA

“he saw no way to fix the pending 12-nation Trans-Pacific Partnership (TPP) and that he was willing to withdraw from the decades-old North American Free Trade Agreement (NAFTA) with Canada and Mexico if it was not renegotiated to his satisfaction.”
 
See Trump vows to renegotiate or withdraw from trade deals
Meanwhile, back in Canada, the land of the really free, Canada and Mexico have agreed to drop visa requirements and allow trade in beef… I imagine Canadian trade with Mexico will do really well if USA agrees to stop trading with both of us, although we may have to trade by sea. Chuckle. The USA can withdraw from the world’s economy. That will leave more trade for the rest of us, just as if M$ agreed to do away with its monopoly out of spite for USAians.
“more than one in every five U.S. jobs is linked to exports and imports of goods and services.”
See Trade and American Jobs

About Robert Pogson

I am a retired teacher in Canada. I taught in the subject areas where I have worked for almost forty years: maths, physics, chemistry and computers. I love hunting, fishing, picking berries and mushrooms, too.
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20 Responses to Trump Plans To Ruin USA

  1. Mats Hagglund says:

    I don’t think he’s planning to ruin USA. Instead he believes in fantasies and deny realities. There is no chance to turn clock back to “good old days” especially when those old days were not so good at all.

    Sad that Americans had to march to election of “lesser evil”. They should have deserved two candidates who have longer than 4 years perspective. Not they have to make decision between trash talking zealot hatemonger and corporate corrupted crook.

  2. kurkosdr says:

    paying higher taxes = that is paying higher taxes

  3. kurkosdr says:

    The government is promising to tinker with young peoples’ pensions, not us retired folk.

    If that happens, the young people will not take it too well, paying higher taxes (on their decreased wages to be competitive with the Chinese btw) to receive lower pensions in the future. If that ever becomes a reality, you are in for a change in government, a more fair one.

    Anyway, Pog looks like he has done the right thing overall, having his fortune split into multiple kinds (real estate, pension, funds and I guess deposits) so he is relatively safe. But nobody is like that, which explains the amount of people willing to cast an angry vote (be it Tsipras, Brexit, Trump, or whatever) based on some vague promise.

    So, with polls failing to predict the Tsipras government, the Greek referendum results and the Brexit referendum results, because they failed to take the angry vote into account, I won’t be surprised if they fail to predict Trump’s performance correctly too.

  4. kurkosdr says:

    . I am almost certain that all the money you may be entitled to is unsecured debt and underfunded, especially if the stock market performance under performs.

    Good remark (dougman, is that really you?)

    With so many “financial products” being sold as bullet-proof and guaranteed-to-be-as-safe-as-deposits-but-pays-out-more going *poof* overnight the last 10 years, you should take nothing for granted…

    Which leaves out what? Gold hidden under the kitchen sink?

    The only real option are deposits in a country that is not a thinly-veiled place for the mob to hide money (Cyprus and maybe Panama) but be prepared to pay for the privilege (negative interest)

  5. dougman wrote, “I am almost certain that all the money you may be entitled to is unsecured debt and underfunded, especially if the stock market performance under performs.”

    Well, the government pension is pretty solid. The government is promising to tinker with young peoples’ pensions, not us retired folk. I’m also sitting on a good chunk of real estate that is not exactly liquid but could be disposed of in a few months for more than enough to live off. Surely goodness and mercy shall follow me all the days of my life…

    Also, I’m old enough that there’s nothing wrong with checking out early in case of starvation or pestilence. I’ve lived a full life. Pensions and retirement are just child’s play for old folks. I think I didn’t play enough when I was a child so I’m doing it now just to make sure… 😉

    Speaking of retirement, this morning I verified hydraulically that the grade next to my house has settled enough that runoff is trying to flood the basement. I spent an hour watching the stock market, then dug a new trench for a downspout in heavy clay and went for a walk in the heat of the day to get the mail. I found my new PCI-e SATA card there. Will check it out at the first opportunity to reboot Beast. So, retirement is a relative thing. I think it’s better thought of as my sixth career…

  6. dougman says:

    Relying on a government pension and a retirement fund, is not really a good thing as both can go *poof* in a relatively short order. I am almost certain that all the money you may be entitled to is unsecured debt and underfunded, especially if the stock market performance under performs.

    At the end of day, your (defined benefit) pension is only as good the amount of assets in the fund, (glances at Nortel).

  7. kurkosdr wrote, “don’t be surprised if Trump vacuums a significant portion of the blue-collar votes, just by making a vague promise to keep jobs from being shipped outside US borders”.

    If USAian voters fall for that they deserve what they get, a severe recession. Sure, Trump will blame it on Obama but more will still be out of work. You just can’t cut trade off and expect to have no consequences in the market for labour. Trump is willing to cut off his country’s nose to spite its face. Several polls show that with the stark comparison between Hillary and Trump, a good majority are leaning to Hillary, the lesser of two evils. Perhaps now Bernie will get some election reforms. This is proof that the present system is broken, that the Rs get the only candidate that can’t beat Hillary and the Ds get Hillary who should just retire and let someone more vigorous lead the show. While she may have lots of experience she’s late for the train. Both Bernie and what’s her name? would be better candidates.

  8. kurkosdr says:

    Anyway… back to the original question: Even if you feel safe, financially speaking, don’t be surprised if Trump vacuums a significant portion of the blue-collar votes, just by making a vague promise to keep jobs from being shipped outside US borders, despite Trump’s many flaws.

  9. kurkosdr wrote, “whatever other personal funds you manage is not relevant, good for you but no relevant to the discussion about pensions”

    Nonsense. In Canada folks have what’s called a Retirement Income Fund. Mine provides a substantial income in addition to my government pension. I manage my own RIF. It does not depend on anyone paying taxes, just working for a living in business. Unfortunately, my monthly payout is set once per year so my present income was set before I made substantial gains. Next year my income will double. That has nothing to do with taxpayers. Of course if things get really bad business will slump, but people may well buy gold… I’ve got that covered.

  10. kurkosdr says:

    two many = too many

  11. kurkosdr says:

    Still, it’s good to have children on the treadmill so I’ll always have a sofa upon which to sleep if things go off the rails.

    So, you admit that the blue-collar workers fund your pension. Phew… for a moment I thought you thought it falls from the sky.

    (whatever other personal funds you manage is not relevant, good for you but no relevant to the discussion about pensions)

    No matter how much labour China expends, they still need natural resources of which Canada has aplenty.
    Hmm… relying natural resources to fund pension entitlements, but having very few blue-collar workers paying for pensions. Ask Venezuela how well it worked out for them. Or Russia…

    Now, I understand your nest egg gives you a degree of safety, but for most pensioners out there, their lives rely on the Ponzi scheme pensions are, and once two many blue-collars get laid off, the whole thing unravels quickly. So, most of you old farts need to think twice before supporting “free trade” treaties that will send jobs to China (read my previous posts why). Even if your don’t care about your pension, it will still affect you in the form of higher VAT taxes, property taxes etc.

  12. kurkosdr wrote, “don’t try to think too hard where your pension will come from, with all those blue collar workers being laid off and their jobs being shipped off to China to be performed by Chinese workers”

    My pension is paid by me and my life’s hard work. Fortunately, I am managing a large part of the funds so the nest egg is growing rather rapidly. Still, it’s good to have children on the treadmill so I’ll always have a sofa upon which to sleep if things go off the rails. No matter how much labour China expends, they still need natural resources of which Canada has aplenty.

  13. kurkosdr says:

    You mean, just like USA, etc. when they want to impose “sanctions”?

    No, not even close. Sanctions do not manipulate the exchange rate of a currency, not directly like China does with their currency by fixing the exchange rate, controlling reserves and not letting it trade freely (so much about free trade). What do sanctions have to do with this? Explain further please…

    Oh, and “knockoffs”? You mean like my Lexus is imitated by 47 designs of cars these days.

    None of those 47 designs are exact copies genius… but please do a search for “chinese iPhone knockoff”. This is how China thwarts imports from other countries.

    —–

    But please Pog, don’t let reason interfere with your support for free trade treaties with dictatorships that do not actually respect free trade. Just don’t try to think too hard where your pension will come from, with all those blue collar workers being laid off and their jobs being shipped off to China to be performed by Chinese workers, working for peanuts… no wait, yuans are artificially held at a value lower than peanuts by the Chinese regime.

  14. kurkosdr wrote, “China manipulates the exchange rate of their currency *directly* and prevents their currency from being freely traded or even be kept in reserves from other countries in significant quantities.”

    You mean, just like USA, etc. when they want to impose “sanctions”? Oh, and “knockoffs”? You mean like my Lexus is imitated by 47 designs of cars these days. I was in a waiting room once and some folks drove up in what looked like a Lexus. I complimented the occupants on their choice. They said it wasn’t a Lexus but a %$$$!@!. I had to squint really hard to see any difference in the styling or the logo… A protractor revealed a few degrees of difference in one line of the logo. Now, that’s Japan v Korea but every country copies what works. There’s nothing new in that and it isn’t invented in China. However, they have perfected the technique of dissecting designs, distributing the component designs to numerous small family-owned businesses and assembling a decent product at a good price. It’s a very sound building-block of their economy, something we all should emulate. I guess the closest thing would be the automobile industry here but we exclude small businesses from that largely, keeping a top-down economy going whereas the Chinese have a vigorous bottom-up thing going. They free many small businesses from the huge burden of paperwork required in our economy. That’s not shady. That’s smart.

  15. kurkosdr says:

    How is that any different from what China does?

    China manipulates the exchange rate of their currency *directly* and prevents their currency from being freely traded or even be kept in reserves from other countries in significant quantities.

    Basically if China wants their currency to decline or increase 30% in value tomorrow, they can just announce “this is the new exchange rate we want our currency to have”. This gives them an immense advantage…

    Then there are the knockoffs, to make sure that the export potential of other countries to China is undermined by local lookalikes…

  16. kurkosdr wrote, “those “free trade” agreements won’t stop China’s currency manipulation”

    As opposed to USA’s currency manipulations? What do you think “the Fed” does all the time? I’ve watched US/Canada currency rates fluctuate just with rumours about what the Fed will do. I remember a time when USD-CDN traded on par. Why is that not still so? You guessed it. Folks adjust their interest rates which adjust their currencies. How is that any different from what China does?

  17. kurkosdr says:

    Joking aside, Pog’s stance to “free trade” agreements is the classic pensioner’s stance:

    Get that free trade agreement signed so I can import more cheap tractors from China, and don’t forget to work your butt of for decreased salaries after the treaty is signed, so you can pay the increased taxes that will fund my pension entitlements (so that Ponzi scheme keeps rolling).

    Pog can’t realise that the more capital he exports to China (because of the “free trade” agreements), the less jobs there will be in countries like Canada and US, and hence less people with blue-collar jobs to fund his pension entitlements. Because those “free trade” agreements won’t stop China’s currency manipulation and China’s lax stance to knock-offs of western products, so they will keep having the advantage, without the western world being able to respond with taxes because of “free trade” agreements.

    Expect Trump to capture a significant portion of the blue-collar population, and all those pensioners, liberal gender studies graduates, and the media people will be scratching their heads from inside their ivory towers (“how did this happen?”)

  18. kurkosdr says:

    Pog, are you really a mass media brainwashed simpleton or just pretending to be one?

  19. dougman wrote, “this “free trade” nonsense is a terrible deal for the American way of life”.

    That’s nonsense. USA has profited wildly from free trade. See Intel, M$, and Google stealing brains (medics, nurses, even physicists like me) from Canada/Mexico. How do you think ~30% duties would affect exports of USAian goods if we went back to the “Good Old Days”? Say, automobiles, chips, chemicals, medicines… USA withdrawing from free trade would give a huge advantage to competitors around the globe and raise the prices USAians pay for just about everything. Go for it!

  20. dougman says:

    Not ruin, actually make America great.

    Of course, Mexico and Canada want free trade, as it benfefits them. But ultimately it ruins American jobs, NAFTA has done this VERY well.

    NAFTA (North American Free Trade Agreement) created a giant “sucking sound” of jobs being extracted away from the U.S. NAFTA was instituted on Jan. 1, 1994 and now twenty years later, we see the result of all the jobs that have been “sucked away” to other countries.

    The TPP calls for the formation of a permanent political and economic union known as the Trans-Pacific Partnership Commission, which will have power to issue regulations impacting not only trade but immigration, the environment, labor and commerce. Congress will have surrendered its legislative prerogatives. Before a word, line, paragraph, or page of this plan is made public, Congress will have even agreed to give up its treaty powers.

    It confers the power to both compel and restrict changes to U.S. policy, to commit the U.S. to international obligations, and to cede sovereign authority to a foreign body. This new global body could even add new member countries (such as China).

    Congress would be pre-clearing a political and economic union before a word of that arrangement has been made available to a single private citizen. This has the earmarks of a nascent European Union,and Americans certainly don’t want to belong to a European union (that’s why we fought the American Revolution).

    TPP is separating us from the U.S. Constitution and from national sovereignty and replacing both with a global governance superstructure. TPP has wrapped its audacious global governance plan in the mantle called “free trade,” which is a misnomer if there ever were one. “Free trade” means Americans must obey a bunch of rules written by foreigners (which we can’t veto), but China can ignore those rules. TPP didn’t even touch the subject of currency manipulation against us by Asian countries.

    So you see Robert, this “free trade” nonsense is a terrible deal for the American way of life.

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