12-03-2025, 07:27 AM
Argentina in 1920s was developed country with same or sometimes higher per captia GDP than USA. Then they decided to use tariffs to protect local industries which became inefficient. The country had high debts and over time declined to be the basket case we see today.
It is almost bizarre to see a US president who is against free trade. The system as it is favors US given it's reserve currency status. Without free trade, the US dollar has no power and less relevance. Under current system surplus countries plow back the US dollars as investments into US treasuries or stocks enabling US to enjoy an advantage that no other country has.
That's why it's stock market is the best performing in the world and it can run massive budget deficits without consequences to build the strongest military and do space exploration.
Trump is undoing everything.
There was never a need to "Make America Great Again" because all along America has been great. You just go and ask anyone who has invested in US stocks.
Under Trump, America is giving away it's advantage and strength.
It is almost bizarre to see a US president who is against free trade. The system as it is favors US given it's reserve currency status. Without free trade, the US dollar has no power and less relevance. Under current system surplus countries plow back the US dollars as investments into US treasuries or stocks enabling US to enjoy an advantage that no other country has.
That's why it's stock market is the best performing in the world and it can run massive budget deficits without consequences to build the strongest military and do space exploration.
Trump is undoing everything.
There was never a need to "Make America Great Again" because all along America has been great. You just go and ask anyone who has invested in US stocks.
Under Trump, America is giving away it's advantage and strength.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.