Chinese Trade and the American Welfare State Considered |
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By: Lance Winslow Posted: 2010-10-12 08:21:08 |
| It should be rather obvious that the United States is getting the raw end of the stick when it comes to trade with China. But the US should not blame all of its woes on China and their currency manipulation, because we are own worst enemy with over regulation to business, which is sending jobs away, and the propping up of unions which have destroyed the very companies they work at. We have also allowed our social programs to run out of control, and now they are considered entitlements - face it, we've made some serious fiscal and economic mistakes along the way.So whereas, China has manipulated us and taken advantage of our good graces on free and fair trade policies, that's not our only problem. And yes it's nice to blame other people for things, and whereas, China has not been this friend it proclaims, the reality is there are many things that this country needs to work on to keep it strong.Not long ago, an acquaintance asked me; "Do you agree that the current economic situation is due to poor trade policy?" And I told him; partially yes. The problem is with the flow of money, it's going to china and not coming back in the purchase of durable goods, but they have been buying or debt. I hate that word "Sustainable" with a passion, but I must say this current flow of money, trade deficits is unsustainable.So then he asked me another question, "would you re-prioritize welfare as a short term treatment?" And I told him this; we really have to revamp the whole thing, we have too, we have no choice, our demographics are shifting all these things; Medicare, Welfare, Social Security are giant time-bombs literally 10s of trillions of dollars.We have underfunded pensions at all levels of government, we promised too much, we are going to end up like Bernie Madoff, and there will be harder choices to make later if we don't bring this under control now. But the politicians obviously care more about staying in power than doing what must be done to get fiscally responsible.Next I told my acquaintance; This is simple stuff, very simple, but you have to have run a business and walked in those shoes to get it, they don't teach this in school. Further, we are often our own worst enemy when it comes to these things. And we are drowning ourselves in political correctness because we won't admit the reality. It appears the American people believe any politician who stands up behind a podium and promises them something, no matter how ridiculous that promise might be.If the American people are so gullible, or so into such wishful thinking that they are going to vote for such people, then we can never fix the problem. Worse, it appears that many of these politicians actually believe their own rhetoric, which is scary, because you should never elect anyone who doesn't have the intellect to understand reality, and to act in a prudent manner. Please consider all this.Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes it's hard work to write 21,200 articles; http://www.bloggingcontent.net/ |
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