Comments by "Ace1000ks1975" (@Ace1000ks19751982) on "Peter Schiff"
channel.
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Other countries buy more than just food from the U.S., Boeing A310s, 727s, 737s, 747s, 777s, etc are all used by just about every international commercial air service. American medical equipment, & medications are used by almost every country. The U.S. F-15s to Saudi Arabia, S.Korea, and Israel for billions. 1 F-15C is worth about $35-$50 mil, and 1 F-15E is worth $65-$100 mil. The U.S. also has tons of natural resources, like oil, coal, copper, lumber, uranium, etc. The U.S. is still powerful.
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Michael Van Kets, so you think Trump's policy of imposing tariffs on other countries to bring back jobs will actually work? I don't think it would work. It costs too much to produce in the USA, the cost of labor is too high. Plus, most of the parts for machines are produced in other countries to bring down the cost. Besides, the U.S.A. isn't the only market for goods. Global GDP stands at $107 trillion, and the U.S. economy accounts for $19 trillion, so that is about 17%.
You telling me, if you produce products in the USA, you don't have to export it to other countries? The U.S.A. can absorb the excess of goods produced in U.S. factories and manufacturing plants???? Let's say you have excess production, and you try to export it. Ok..... The U.S. imposed tariffs on a lot of countries, so if they export stuff from the U.S.A. they are all hit with tariffs. These products being hit with tariffs will mean they will be more expensive when they are exported to the international markets. People will buy less of them, because they are not price competitive.
The deregulation stuff is good for business, but Trump's idea of starting a trade war will only hurt the USA. You can produce things in the U.S.A. under Trump's plan, but it would only be for stuff that is sold in the USA. Therefore, companies will move more production overseas to avoid the tariffs. As a result, more American workers will get laid off in the long run. If you have companies that have all their production in the USA, they will become stagnant. Because they can't export their goods. They may even go bankrupt, because they can't compete in the global market. You have other foreign companies, like Volkswagen, Toyota, Samsung, Mercedes Benz, BMW, Hyundai, etc having access to cheap labor, and not impacted by the tariffs. They will invest more of their money in other countries, like Vietnam, India, Thailand, China, and other emerging markets. U.S. companies will get shut out of those markets. LOL
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We have a lot of bubbles now, and cryptocurrencies is just another bubble. As you can see, a lot of these bubbles are popping, like the stock market bubble, the student loan bubble, the car financing bubble, the bond bubble, etc. These bubbles will all pop eventually as interest rates keep rising. The only thing that will save you are 3 things.
1. If your home is paid off, you will be better off than most people.
2. If you don't have any debts, and stable career, business, or a job you'll be fine.
3. If you saved up a lot of money during the boom times, you can relax for a few years. This coming recession will last a few years for sure. You can use some of that money to buy assets like depressed stocks, real estate, etc.
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