Loading ...“A centrally planned economy without market prices or profits, where property is owned by the state, is a system without an effective incentive mechanism to direct economic activity. By failing to emphasize incentives, socialism is a theory inconsistent with human nature and is therefore doomed to fail.”
Comment:
The Media these days is full of shit, old out dated news. My new news, is China’s living standards have been rocketing higher, better than ever while USA living standards have started declining after 1971 when President Nixon “set them up” for prosperity as a new vendor for US Consumer products, after Japan. Japan used to be the main producer.
Ask yourself, How did China end up being the worlds second biggest economy? Is it really 2nd best? Maybe not, maybe USA is 2nd now. By the way, The US Dollar and the Yuan can only fluctuate by 2%.
So the US and China are pretty much like one country. We can’t lower the Dollar 50% against China, to make the incoming products cost 50% more, to promote making the stuff here cheaper.
P.S. In my view globalization is like socialism, and its finally failing obviously, and that why there are problems that require low rates and paper money hand outs and bailouts. And people allowed to not pay mortgages for 6 plus years.