Wednesday, March 08, 2017

Get Peter Navarro a time machine

I second Linette Lopez's suggestion of "get this man a time machine". (http://www.businessinsider.com/peter-navarro-nabe-speech-on-trade-2017-3)

"We're trying to skate to where the puck's going to be," Navarro said during his speech as he described the American economy he's aiming for.
The puck he was talking about, though, is actually located somewhere in the 1970s. Navarro wants to bring "second- and third-tier" jobs in the global manufacturing supply chain back to the US to close the trade deficits with other countries.
These deficits, he says, are the primary drag on the US economy. But trade deficits are all but irrelevant to GDP growth. As for the jobs he wants to bring back, some have gone to countries with lower wages, others have been lost to automation — a fact Navarro dismissed.


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