A Brain based on Ego - and contempt for Trade

tw · 03-01-2018, 05:47 PM

At the cost of destroying jobs elsewhere, tariffs would save some jobs in steel—but only temporarily. Tariffs would do nothing to solve the industry's structural problems. American steel is really two industries: a group of low-cost, non-unionised mini-mills and an array of unionised, capital- and labour-intensive integrated steel producers. Mini-mills have been doing well: their share of the market has quintupled over the past 25 years. But the integrated dinosaurs, hobbled by high production costs, are horribly uncompetitive and have remained so despite (or more likely because of) a long history of protection. The only rational long-term solution is to allow most of them to go bankrupt.

You would think anyone with minimal intelligence would have basic economic knowledge to understand this. And learned from the resulting massive job destruction created by this mistake by George Jr.

Today, The Donald announced same stupidity. He has decided to protect anti-innovation (anti-American) steel dinosaurs a the expensive of steel reprocessors and other steel dependent industries.

We know the Donald hates trade. And we know he lies repeatedly to people who then believe his lies.

Anyone can learn what is and will happen. Those who forget history are doomed to repeat it. Those are the wackos who voted for and love the Donald.

Brains of I-beams

03-01-2018, 05:47 PM	#1
tw Read? I only know how to write. Join Date: Jan 2001 Posts: 11,933	A Brain based on Ego - and contempt for Trade At the cost of destroying jobs elsewhere, tariffs would save some jobs in steel—but only temporarily. Tariffs would do nothing to solve the industry's structural problems. American steel is really two industries: a group of low-cost, non-unionised mini-mills and an array of unionised, capital- and labour-intensive integrated steel producers. Mini-mills have been doing well: their share of the market has quintupled over the past 25 years. But the integrated dinosaurs, hobbled by high production costs, are horribly uncompetitive and have remained so despite (or more likely because of) a long history of protection. The only rational long-term solution is to allow most of them to go bankrupt. You would think anyone with minimal intelligence would have basic economic knowledge to understand this. And learned from the resulting massive job destruction created by this mistake by George Jr. Today, The Donald announced same stupidity. He has decided to protect anti-innovation (anti-American) steel dinosaurs a the expensive of steel reprocessors and other steel dependent industries. We know the Donald hates trade. And we know he lies repeatedly to people who then believe his lies. Anyone can learn what is and will happen. Those who forget history are doomed to repeat it. Those are the wackos who voted for and love the Donald. Brains of I-beams

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