Trump's bid for the American Presidency constitutes an assault on this traitorous project. Trump is, therefore, to be a smeared with everything evil in the crippled mind of the politically correct, whether they be followers of the sadistic, I-came-I-saw-he-Died-with-a-knife-up-his-arse-tee-hee, Clinton, or Jeb the sibling of pro-torture, Dubya Shock-and-Awe Bush.
To this end, whatever Trump says must be twisted or misinterpreted to prove his bigotry, racism or stupidity, a task of precisely the kind for which the New York Times exists. And among Mr. Trump's most heinous crimes against the New World Order is his repeated charge that globalization has destroyed tens of millions of American jobs, which have been off-shored along with the necessary capital and technology to China, Mexico and elsewhere. Not only is this true, but public knowledge of the fact could destroy the American interests that own the Bush-Clinton-Obama puppets and reap the stream of profits of shipping American jobs and wealth abroad.
Hence step in Stephen Rattner, New York Times "contributing op-ed writer", a journalist turned private equity manager specializing in "distressed securities, and hedge funds," who, proceeding by way of a mendaceous PC smear worthy of Hillary Clinton, calls Trump an economic illiterate who fails to understand that globalization is good for everyone:
DONALD TRUMP’S economic views may not have garnered as much attention as his misogynistic statements, but they are equally unpalatable, evincing a lack of understanding of basic economics that is startling for a billionaire businessman. ... Take, for example, what seems to be his “No. 1” issue: trade. Mr. Trump believes the Chinese (and others) have been playing us for fools; using cheap labor, currency manipulation and trade barriers to favor their exports and limit our imports.But says Mr. Rattner:
For centuries, as countries have developed, the locus of jobs has shifted based on comparative advantage.There you are, then, all is for the best in the best of all possible worlds, and the proof of that fact with respect to the off-shoring of American jobs is provided by the economic principle of Comparative Advantage, which Mr. Trump supposedly does not understand. However, it is, in fact, Mr. Rattner who is an economic illiterate. Either that or Rattner is just a regular scumbag New York Times liar, for the principle of Comparative Advantage in international trade, which was formulated by the Anglo-Jewish bond trader, David Ricardo (1772–1823), explicitly excludes from consideration goods produced with capital and technology exported for the purpose of exploiting cheap off-shore labor.
The principle of comparative advantage, or comparative cost as David Ricardo called it, is quite subtle, which makes it easy for people like Rattner to lie about it. Those unfamiliar with the idea would do best to consult Ricardo's own account of the theory; although its practical significance can be stated briefly thus:
Ricardo demonstrated that for two nations without input factor mobility, specialization and trade could result in increased total output and lower costs than if each nation tried to produce in isolation. (Source, the Dallas Fed.)And note the words that I have italicized. What without input factor mobility means is without transfer of capital, labor or technology, i.e., without mass immigration of cheap labor, or outflow of capital and technology to cheap labor areas whence finished goods can be imported.
So yes, when IBM, Apple, Ford, GM and so many others move research, design, accounting and manufacturing functions to cheap labor areas with little in the way of workplace health and safety regulation and then sell the products back in the USA, they are seeking not Comparative Advantage, but Absolute Advantage, which substitutes cheap foreign labor for American labor, thereby impoverishing American workers. The result is to raise corporate profits, for as Ricardo explained "Wages plus profits, together, are always the same," which is to say, profits rise if wages fall. Globalization means seeking Absolute Advantage, which means transferring income from workers to owners of capital. It is the intention of America's globalist elite to continue the drive for Absolute Advantage in international trade, while encouraging mass Third-World immigration to the US until such time as American labor is as cheap as that of an Asian sweatshop; say 75 cents an hour.
CanSpeccy: The Economic Consequences of Mr. Trump
CanSpeccy: Burying the Underclass
Thom Hartman: Picking Apart One of the Biggest Lies in American Politics: 'Free Trade'
U-Tube: Donald Trump's First Town Hall Meeting- Derry, NH (8-19-15)
CanSpeccy: GLOBALIZATION IS GOOD (For the Rich)