ok, so I don't see anything revolutionary here
down the debt hole - yeah we been doing that and the admin/congress has just put the debt ceiling on hold - sensible move, why even pretend there is a ceiling.... nice to have the world's reserve currency eh? we print money, the entire globe foots the bill... brilliant... and God Bless America!
wages - how to execute this? global economy and you can only pay so much as the market can bear.... artificial increase will just move jobs overseas... too easy to do.... and not the minimum wage idea? has been proven to be a certain job-killer.
so really - the reserve currency status is the key.... we have been sucking goods and services globally by handing out IOUs lol.... and Mr. Overnight is upset that Trump is taxing China.... I have said many times before... the trade war is about world dominance... and only Trump has the political will to do something about it because he is a true patriot... otherwise if we lose the dollar dominance you can kiss this robust economy good-bye..... so in order that your children and grand children can still buy cheap shit from Walmart, perhaps a few bucks draw down in the YM is worth it? lol.
The trade intervention process begun under the Trump administration is likely to spread to Europe and continue long after the Trump administration has been replaced. This is because as the problem of income inequality becomes an increasingly important political issue, especially in democracies, attempts to reverse income inequality will be undermined by the requirements of a globalized world economy. Democracies will face two options: either ignore income inequality and allow it to get worse, or begin to impose constraints on trade and capital flows so that reforms aimed at reversing income inequality do not lead simply to higher unemployment.
An Italian factory paying workers 16 Euro an hour cannot compete with foreign cheap labour getting paid the equivalent of 1 USD an hour... Tariffs and Deglobilisation will be part of our world for a period that is for sure, the savers will balk at tariffs cause it reduces a share of their pie and forces wages to rise.
The US economy is the best in the world, by far... But the difference between the savers and consumers is running high again due to Inflation, Wages have to come up for growth to pick up. How long can the US spend 1 Trillion a year in government spending ? In recession years, deficit will hit 1.5-2 Trillion for a few years ? High Debt deficits should only be for emergency measures to speed up growth, massive Infrastructure bill for the coming recession will be beneficial, but longer term and a more sustainable growth model is higher Consumption... Wage increase
