The undeclared war on our money . . .
When I was growing up in the United States Air Force I was lucky enough to be assigned to South Korea for 13 months. This was between 1965 and 1966. I say lucky because I was where the guns were not shooting.The sanitation was circa 1620. Everyone shit and pissed in the streets. People took their shoes off in a entrance to a building because the bottom of their shoes was full of it. The floor was normally about 6 inches above the entrance where the shoes were kept on a small straw mat.
The luck was the cost of retail goods. I estimate they were often 20-30% of what we could get the same stuff for in the States. Like stereo electronics, cameras, and a multitude of other locally produced goods we were living high. We even had our own houseboy that made our beds and cleaned our clothes for us. Our near poverty level salaries were suddenly worth a lot more because we were in Korea.
Why? Because the exchange rate was in our favor. Gold was at $35 an ounce. I think it is around $1700 an ounce now. It fluctuates up and down.
This is because of undeclared wars abroad. These cost billions of dollars. Our currency is on the verge of a major breakdown.
When we went off the gold standard and went to war, our currency took a beating.
Cheap countries like Korea, China, India, Taiwan, and even at one time Japan produce goods from a cheaper currency than our own. This is where the drain comes in. As these countries accumulate dollars, the dollars become worth less money on the international exchanges. As we spend a lot of money on wars, it drains the value of our money even further.
I have been accused of being for tariffs. For being for protectionism. I confess. They are right. I am not for tariffs so much as I am for protection of our money and for protection against unfair competition. We as a country need to make some dramatic changes in the way we do business with the entire world. For one thing, as far as I am concerned, there is no such thing as an equal playing field when dealing with imports and exports. Governments all over the world see to that.
I think the American Abroad is often looked at as a Texan with more money than sense. This was an image from long ago. It is also often too true.
We have been placed in the position of leading the world. Hogwash! We have been suckered into supporting US troops abroad at tremendous personal expense to defend the free world. I think it is time to bring those troops home and let the world take care of itself. These troops are not profitable to the USA. They are and have been a tremendous drain on our national debt. We are basically broke because we have gone to war.
The other reason we are broke is because China has an undeclared war on not just our economy but all the free world economies. They are producing goods cheaper than cost. There is no economic theory broken here. Neither Keynesian nor any other theory takes into account a nation deliberately bankrupting businesses all over the world with government sponsored goods and a currency deliberately kept at an artificially low level of exchange. If it was anything but a major government doing this, the business and the country would go broke in short order. Obviously they are reaping an exchange where they have all the dollars and we have none.
One famous economist has banned me from his site for my views. I am obviously an ignorant person. Free trade is everything. I attempted to tell him that there is nothing free about different playing fields in which one is sponsored by unlimited money to bankrupt someone else. This was done in the oil field companies by Standard Oil. It led to the breaking up of Standard Oil and anti-monopoly laws at the early part of the 1900s.
Well, any views are welcome on this site. I do not believe I know everything. I am indeed ignorant on a lot of subjects. I welcome enlightenment from people that are smarter than me.