Not free trade. It’s never been free trade. That’s la-la land. Economic treaties with attempts at controlled flow. That’s the kind of trade that’s always been engaged in, at least internationally.
Generally, the US is pretty good with trade agreements. The latest pacific thing overshot the mark, especially on patent protection by way too far. SOME protectionism (a contraction) is necessary at this point in time. But not borders nor naked, protectionless trade.
At the moment, there’s layers of protection available globally, but they’re mostly advisory. I’ve been researching the Group of 30 today when I discovered my favorite investment writer from back in 99-2002 turned out to be Kenneth Rogoff (who steered me right in the markets and his contrarian matches my own).
We corresponded for a bit – but I didn’t know he was a big shot.
Anyway, things like the World Bank, International Monetary Fund are necessary things. United Nations. Necessary.
They’ve overstepped. Cycle after cycle of “Hey, growth! We can have growth built on DEBT!”, had to lead us to a temporary stagnation period.
So, we’re in a stagnation period. Can’t expect much growth anywhere for a while. People are gonna get aggravated and impatient. Nations will raise taxes on the rich, who will run around trying to escape it, get exposed by more and more groups, and there will be some kind of settling period.
But if nations start closing off borders one after another, we’ll be busy warring each other giving us a temporary economic boost.
We’ll ride the wave for a bit, then come back to here.
Well, they’re partly the problem but remember what they were solving, and did so quite well. It was a band-aid and led to a lot of great things.
But, back to the 30s we go except this time, at least there’s SOME kind of oversight and a few lessons learned.
We have global existing systems in place for oversight. Treaty making institutions. Advisory boards. Why not work with them?
Pure democracy ==> anarchy for the losers who then push back.