Mike
I saw this:
https://www.wsj.com/articles/steve-bannon-and-the-making-of-an-economic-nationalist-1489516113
But I didn’t read it because I just wanted to ask the question:
Which one of YOU wants to pay for globalism?
Globalism has a cost, a serious cost to the leader and their supporters.
We notice that Obama – a globalist only paid 19% of his income in taxes… so it’s clear he’s not leading the way for paying for globalism but instead choosing to profit from it;)
Can’t blame him, or you.
BUT, someone has to pay the cost of globalism and it’s always going to be on the shoulders of those who can run the credits….
So whether you think you are (US taxpayers), or not, you are, we are and some people are being honest and saying they don’t want this burden being piled on our children and grandchildren.
Our national debt of about 20 trillion is a manifestation of those costs, interest, et al.
I did a study in graduate school and when the debt starts to compound as it will at some point (it already has because we are paying interest, albeit it low, on interest!!), it can’t be solved without some form of default – direct or indirect.
So while most of us are not paying attention to the noise in WASHINGTON, at some point the point of no return will be breached.
All of us are hoping it will be someone else’s problem to solve… and that is the cost of globalism 😉
Now the question again:
Which one of YOU wants to pay for globalism?
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Inner Circle Member 1
I wondered why the group had gone so quiet, and then realized I’d re-formatted my email so the group emails go to a new tab. I’ve missed you all!
Mike, what do you see as the potential costs associated with not participating in globalization?
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Inner Circle Member 2
My problem with these kinds of questions is that they are at low resolution.
My sense… it is a similar question to “which one of you wants to pay for nationalism?”
Or: “Nationalism has a cost, a serious cost to the leader and supporters”… etc.
There are, of course, enormous costs to globalism, I am not arguing about that or even for or against globalism. To be honest, I don’t even know what that means (“globalism”) at this point in history.
The question is really about who gains and loses by any particular policy, economic strategy. Which I think is more to the heart of your question.
And it is a fantastically complex question. Robotization/AI is now shifting the dynamic even further, almost to the point of making the issue of “globalization” a minor issue comparatively (at least over the next 20 yeaers). Everyone will be impacted by this, including countries like China. This is the real genie out of the bottle that no one can put back in.
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Mike
That’s a good question.
At this time they may be equal to, less or more than the costs of not globalizing 😉