steveo.png

Notices where this attachment appears

1. Embed this notice
   laurel (laurel@fsebugoutzone.org)'s status on Saturday, 12-Apr-2025 03:12:11 JST laurel

   in reply to
   @IAMAL_PHARIUS
   
   This has been debunked by the White House:
   https://www.whitehouse.gov/briefings-statements/2025/04/cea-chairman-steve-miran-hudson-institute-event-remarks/
   
   >But our financial dominance comes at a cost. While it is true that demand for dollars has kept our borrowing rates low, it has also kept currency markets distorted. This process has placed undue burdens on our firms and workers, making their products and labor uncompetitive on the global stage, and forcing a decline of our manufacturing workforce by over a third since its peak1 and a reduction in our share of world manufacturing production of 40%.
   >For example, in the years running up to the 2008 crash, China along with many foreign financial institutions, increased their holdings of U.S. mortgage debt, which helped fuel the housing bubble, forcing hundreds of billions of dollars of credit into the housing sector without regard as to whether the investments made sense. China played a meaningful role creating the Global Financial Crisis. It took almost a decade to recover, until President Trump got us back on track in his first term.
   >First, other countries can accept tariffs on their exports to the United States without retaliation, providing revenue to the U.S. Treasury to finance public goods provision.
   >Second, they can stop unfair and harmful trading practices by opening their markets and buying more from America
   >Third, they can boost defense spending and procurement from the U.S., buying more U.S.-made goods, and taking strain off our servicemembers and creating jobs here;
   >Fourth, they can invest in and install factories in America. They won’t face tariffs if they make their stuff in this country;
   >Fifth, they could simply write checks to Treasury that help us finance global public goods.
   steveo.png