With China and tariffs in the news the last few days, the headlines have been driving the market. On the whole, I think that working for a level playing field vs-a-vs our trading partners is long over-due.
The US has been running huge deficits domestically and corporate America has been outsourcing manufacturing to low labor-cost countries for decades. The stock market cheered each time a company announced layoffs and outsourcing.
It has devastated a large part of the country that once thrived as manufacturing centers, left millions unemployed, and lots of American cities and town - like Detroit, once the world's auto capital - hollowed out.
All the while radical environmentalists in and out of government suppressed domestic energy production and made us increasingly vulnerable to foreign despots and petro-sheiks.
There is a great deal of anger at the leaders who allowed this ... no, made it happen. They bragged that they were the "Best and the Brightest." They preened about their superior sophistication and morality. Instead, they were the worst and the dumbest, and they were evil.
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