Gongol.com Archives: March 2018
The President takes a potshot at Gary Cohn, his departing director of the National Economic Council: "He may be a globalist but I still like him. He is seriously a globalist, no question. But in some ways he's a nationalist because he loves our country." ■ Straight to the dustbin of history with the idea that a person couldn't love his or her own country and also believe in participating in the global community. Shameful. Ignorant, wrong, and shameful. ■ "No free people can for long cling to any privilege or enjoy any safety in economic solitude. For all our own material might, even we need markets in the world for the surpluses of our farms and our factories." - Dwight D. Eisenhower ■ "If we want [...] a vital, dynamic, innovative economic system, we must accept the need for mobility and adjustment. It may be desirable to ease these adjustments [...] but we should try to achieve that objective without destroying the flexibility of the system." - Milton and Rose Friedman ■ "No nation was ever ruined by trade." - Benjamin Franklin ■ "To cherish peace and friendly intercourse with all nations having correspondent dispositions" - James Madison ■ "The freedom to buy, sell, and trade is one of the oldest freedoms known to man." - Margaret Thatcher ■ The idea that someone can't be both a good American and also a good citizen of the world is as preposterous as the idea one cannot be both a good Iowan and a good American, or a good Chicagoan and a good American. Most of the virtues to being a good citizen are non-rivalrous -- from the local to the regional to the national to the global. Anyone who can't think of themselves as belonging to more than one community of human beings simply lacks imagination.
China's foreign minister drops passive-aggressive commentary about "external powers" and complaining that "there are certain external powers who are unwilling to accept the stability in the South China Sea and always want to stir up trouble". He is, of course, talking about the United States. And he's talking about a place where his own country is building artificial islands to create artificial claims to territory. Singapore's long-time leader Lee Kuan Yew said it pretty clearly: "As China's development nears the point when it will have enough weight to elbow its way into the region, it will make a fateful decision -- whether to be a hegemon, using its economic and military weight to create a sphere of influence...or to continue as a good international citizen...It is in everyone's interest that before that moment of choice arrives, China should be given every incentive to choose international cooperation which will absorb its energies constructively for another 50 to 100 years."
Would any of us learn?
One might wonder
A 25% tax on imported steel and 10% on imported aluminum. Arbitrary, capricious, untargeted tariffs on basic raw materials used disproportionately in heavy construction? That's a pretty stupid way to address the need for infrastructure investment (that we badly need). It's also a terrible way to behave when we have a massive Federal budget deficit. It's a very simple fact that net imports don't actually hurt GDP -- we produce the same amount with or without the imports, we just don't want to count them as things we create.
Very, very funny: "I'm an incredibly verbose piece of journalism that your boss, your coworkers, and your most Twitter-annoying friend have already spread all over social media with the comment 'This.'"