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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (37607)	8/31/2003 6:26:01 AM
From: Maurice Winn	Read Replies (2) \| Respond to of 74559

Raymond, there you go. You and King George II are singing the same song. He brought in major steel tariffs. It must feel strange for you to be in such harmony with Bush. <...many U.S. politicians have pointed out ... the U.S. became strong because it had protective tariffs to nurture home grown industries and prevent other countries from dumping goods. At that time, in the 19th Century, the British would have happily crushed the nascent steel, ....... Thank god the wise men in Washington didn't listen to this rapacious bunch of free traders. Otherwise we might still be the sort of ruined nation that free trade has created in Argentina. > The USA didn't become strong because of tariffs. Steel producers in England could only sell to the USA if the customers had money, which they could only get by selling something back, otherwise there's the old balance of trade problem, which can't last forever because suppliers eventually want something other than money in exchange for their efforts. The swap that money for real goods and services. The USA became strong because of resources, land, numbers of people, a free economy, small government as a % of GNP, civilized people working hard, saving investing and competing. Having people like Albert Einstein and hordes of other brainy inventors helped too. The USA has been an intellectual beacon for nearly a century. That process of sucking the brains out of the world has accelerated over recent decades. Now, they don't even have to leave their own countries to work for QUALCOMM and Microsoft - they just sit at their computers in Bangalore and Beijing, uploading the software and downloading some money, which goes a long way further in NZ, India and China than in the land of NZ$5 bread and NZ$8 coffee. Mqurice