The consensus among economists is protectionism slows down economic growth and is worse than free trade in almost every...

>T. I'm an economist myself

and my dad works at nintento.

By the way, nice appeal to popularity.

'worse' is subjective, its worse for global corporate business that outsources production to cheap labour countries and sells at premium in 1st world countries and then reports record profits

keynesians don't want consumers saving anything, they just want everyone spending everything they have, and then taxing them more to pay for a boost to their stock portfolio.

And they call it "Economic growth"

China is a communist hellhole and we shouldnt have free trade with them or much trade at all for that matter

the rich*

OP is a fag
>economics professor

>for everyone

see web freelance market where wages are abysmal cause pajeets are willing to do anything for 20cents/hr

I'm an actual economist. Not joking.
I don't need validation from a Chinese fingerpainting imageboard.
There's numerous problems right now for instance, especially with the low interest rates in Europe our housing prices obviously have gone up, such as the stock market as well as in the US and UK. The problem now is we know it's going to hurt like hell when we raise it again, but it must be done. The only question is how and when, as everyone will be hurt by it. Investments, houses and mortgages will be hit hard.
The problem with what people see as traditional Keynesians is that they think they work pro cyclical for the economy whereas the point of it is being anti-cyclical to make the boom not as much and the downturn not as low. However its political suicide to decrease government spending at all, which is supposed to happen in the boom, but this is the reality in the west. The government never cuts its own spending, ever. So you end up with extra spending in recessions but not cutting in booms. Politics is not great in coexisting with economics, not only because of what I mentioned but also because of the time delays you have for measures to take effect.

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>pajeets are willing to do anything for 20cents/hr

Nobody is forcing you to buy services from "pajeets" if you dont want to. However, it's a net benefit for consumers when there's more competition in a market because it drives down prices and drives up quality. That's why government is inherently bad, it surpresses competition as a monopoly force.

>I'm an actual economist. Not joking.

I literally don't believe you. so what now?

>There's numerous problems right now for instance, especially with the low interest rates

So, you are concerned that we are renting our currency from banks?

Well you can believe whatever you want. Doesn't mean it's true.

No I'm concerned we have created a bubble bigger than the one in 2007 and 2008 and we kept zombie banks alive for too long without restructuring them properly. When interest rates rise we'll have a huge recession again. It's not difficult to figure out. I'm worried about the political implications of it too, European countries will rightfully so complain and will vote against europe because of the downturn of the economy caused by the help of the ecb. No real changes have been made anywhere yet and we haven't learned shit from the previous crisis.

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>consensus among Jewish parasites is that their parasitism is good and should not be interfered with
Amazing

no, just literally every economist ever.

>Growth should take precedence over the livelyhood of your own people

the chinese economist who is panicking and worried their country will have to mass produce dogs to feed the hungry?

>no, just literally every economist ever.

What about Hayak, and the austrian school of economics?

Or just the general theory that stealing money from tax payers to boost the stock market profit margin, is somehow good for the the people that money was redistributed from?

Actually the keynesians were against "free trade" back in the late 80's/early 90's because they saw it as a race to the bottom. They changed their tunes later but at first they were opposed.

It's mostly right wing economists that pushed free trade at the start, and who most adamantly push for it today.

Protectionism is stupid, but I don’t think trump wants protectionism. I think he’s just threatening with it.

And as we all know the only good thing is economic growth

>Actually the keynesians were against "free trade" back in the late 80's/early 90's because they saw it as a race to the bottom.

How can you call it free trade when you are directly competing with slaves for jobs?

its not a competition, its race to the bottom due to abundance of supply of cheap labour, this is so-called global post-capitalism and its a net negative for all the people where only corporation rake profit because its becoming impossible to find a local niche for small business or individuals

Economic theory is not a real science.

None of them are ever right for an extended period.

so why is the EU perpetrating protectionist policies against Britain?

Pretty much this. Trump will most likely walk these back after a little while. He just doesn't want the rest of the world to look at the US like a doormat in these kinds of deals.

Free trade is better but it’s not free trade if one side is skewing it in their favor with tariffs, then all that wonderful growth is just going to them while the other country that is playing fair gets screwed

There's a difference between predictions for the future and the principal of why interest rates are higher for some and lower for others. Same goes for countries. As well as the theory of how the monetary system works and why some countries experience inflation or deflation or even what the consequences are of some actions. It's basically explaining what happens when you do X.

>The consensus among economists is protectionism slows down economic growth
literally only a kike economist would frame this as a bad thing

None of us claim it's a science, it is a social science however. Of course a commie would attempt to deny the existance of economics as a discipline.

yeah and Milton Friedman believed that government shouldnt limit monopolies that gobble up the entire markets cause 'foreign competitors would save it'

except all your corporations are global now

They are correct when all things are equal.
But they are (((academics))) and all things are not equal. In fact the reason for the current war of words is that the USA has been fucked by tariffs in other countries. The fact remains that this is not about adding tariffs to get money from them but to get the other guy to finally fucking remove his.
The end goal is not protectionism it’s free trade by forcing the other guy to stop its protectionism.

That's not free trade, that's where government intervened in the market by artificially keeping the interest rates low so investment would increase and this the stock market as well.

(((Economists)))

so why dont these countries get rid of their massive tarrifs preventing us manufacturing from selli ng to them? the media is painting this as trump starting a fight, but the tarrifs and trade deficits were aready there

taxing people to boost GDP related spending is keynesian economics, dood.

it's literally corperate welfare to make international investors rich with the wealth absconded from americans.

that a man can provide for his family and be a inspiration to his community is worth far more to a country than the economic growth achieved by shipping his job to china

Hayek wasn't a fucking Keynesian retard

youtu.be/6qqG6OurHaM

Economic growth for who, banks and global corporations? Fuck off

Yea? How is it vs getting fucked by everyone else putting tariffs on our shit?

((Free trade))
((Economists))

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Look Europe isn't benefiting from putting tarrifs on you, trust me everyone hates the tarrifs because we have a lot higher costs for nearly everything. It is the regular and many consumers who are hurt by the tarrifs and only the few producers who benefit.

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Said economists also use indicators like total GDP and believe in trickle down wealth.

Free trade is good for stocks and makes investors a lot of money by lowering wages and increasing the bottom line for businesses which leads to more gains on the old stock ticker.

Make no mistake, when economists are talking about growth, they are talking about shareholder growth and currency manipulation.

They are not talking about a particular country gaining a higher standard of living, a stronger currency (they actually view that as a negative) or employment and production being localized. They would rather the average US citizen be stagnant in terms of growth while a million Chinese get a nickel more an hour than for China to take a serious loss while the USA grows because they, and their market audience, is caught up in international trading.

In short, they are right on paper and in regards to the international market. They are completely incorrect on the effect it will have for growth in the USA.

>slows down economic growth
And you know what that means for (((them))).

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Alright, so an effort to remove the tariffs would be a good thing? Great! That’s what Trump’s doing.

Thats a good thing.

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The consensus among economists is that the economy is a monolithic entity that can only be benefitted or harmed at the global level.

just like how Housing prices and interests being lowered is the end of the world and evil because the people ripping you off every day of their life can't rip you off any more.

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>When interest rates rise we'll have a huge recession again.

That's understating things. Italy has upwards of a trillion euro NPL stack. Unless the ECB just starts seizing capital from depositors by proxy, they can't wall something of that size off.

No what trump is doing is the opposite, you benefit from lower tarrifs despite us putting tarrifs on you. Europe or China isn't suddenly going to lower it's tarrifs because you threaten or do raise your tarrifs. We'll both experience loss in real wage growth, consumer choice and real income.
I know, it only got worse for everyone basically. We should have taken the hit and just let some banks die off and imprison some bankers that did terrible things, however we did the opposite and gave them a moral hazard while at the same time lowering the rates.

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Equal tariffs for everyone or free trade for everyone. Pretty simple

they didn't ask me about this. there is no consensus

Free trade is a zombie dogma that is based on the most simplified of models that hand waves away the reality of steel and coal workers suffereing over a decade of unemployment until finally reentering the workforce. Such real problems are hand waved away as "special cases" but there are more "special cases" than actually valid model predictions. Economics is like physics before Newton, all about abstraction and despising of predictive abilities.

I'm just saying we won't experience as much of a loss if you put tarrifs up as your own consumers will. The vast majority of your population will be hurt because of increasing prices and increasing interest rates because of the increasing federal deficit. No one is going to benefit from increasing tarrifs. I'm saying if you increase tarrifs we won't benefit, you won't benefit, no one will benefit from it.

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Economists never have a complete understanding of the picture. There are other issues besides muh GDP here. If countries want to enter trade alliances for their mutual benefit that's one thing. It's quite another when you get superstructures like the EU trying to assimilate every country in the world into the Poz Collective, and America tries to export poz everywhere it touches. Free trade agreements frequently seem to function secondarily as a catalyst to globalism and neoliberalism, rather than simply a mutually beneficial arrangement. It's not like every Brexiteer disbelieves economists per se, they just value nationalism and culture enough that they are willing to take a hit to the economy to protect it against the monstrosity that is the EU.

Also, middle America is getting a shitty deal from prior trade agreements and Trump knows it. So do economists - that's why these technocrats propose shit like universal basic income to make up for all the lost jobs.

>Make no mistake, when economists are talking about growth, they are talking about shareholder growth and currency manipulation.

Amen.

>interest rates rise

Literally next to no one will give a shit unless they are playing stocks or just bought a house.

The housing market is still completely fucked because of government involvement. A 30k house became a 300k house and crashed down to a 275k house. It's absurd and housing, housing supplies, and such need to drop to about a tenth or an eighth of the price they are now to get back right.

But instead you're going to have a financial apocalypse. No lending growth for five years, minimum. No new businesses for two years, minimum. To say nothing of the Euro fracturing back into the Lire and the Deutschmark and the Franc. And this financial instability will bring with it heavy political instability.

Yeah Europe Will be a shitshow alright.
I don't see old currencies coming back but I do see the euro splitting up into two, the northern euro and the southern euro. There already is no real lending growth since 2008, only extra mortgages. No loans to business, actually they've been declining since 2012 here.

The Euro won't survive in any real capacity, cuz everybody who isn't Germany is sick of their shit, and a currency union with Germany just means Germany gets better while everyone else stagnates cuz Germany makes the most efficient/optimal use of capital on the Continent.

Germany isn't getting that much better though, same here, we should have had more wage growth and a stronger currency, we save too little and spend too much. Also the low interest rates aren't helping starters in the housing market.

>we save too little and spend too much
it's your fault goyim work more get less

No it's also the fault of low interest rate not rewarding saving over Mal investments

sure not a result of greed and bad intention tho always put the fault on the plebs they says

I'm not saying that anywhere.

This is 100% the fault of the ecb and the banks that needed the low interest rates to be able to recover whereas they haven't learned a fucking thing.

tell china to stop tariffing our shit then.

until they stop, we will impose opposite and equal tariffs to theirs.

what would raising interest rates to the level you ask for would have as impact on the direct life of that plebs ?
and who would profit from it ?
raising interest is only a band aid on a bullet hole

Raising interest rates would put people in the same situation of 2008, not being able to repay loans with flexible interest rates like mortgages and longer loans. Also governments will have more interest rate expenses so either government expenditure will go down or taxes up, people will save more and consume less thus lowering consumption while trying to raise investment but rising interest rates prevent that. There are lots of problems with rising interest rates, basically ripping a bandaid off and letting everything fall down in an instance.

China uses massive subsidies and protectionism and posts double digit growth YOY.

Economists are useless dorks and should get shoved into lockers by CHAD NATIONALISTS.

>Raising interest rates would put people in the same situation of 2008
but that's exactly what ruined so many family in 2008 and it was arguably bankster playing with number who won ?
that's exactly the consequence of letting inflation and deflation in the hands of private entity that led us to this circus
i know your intention are good but the base of the system is flawed why even try to make something so broken work to begin with

It's either letting the bubble continue or taking some pain. There is no alternative. Also at some point the us will have to raise its interests anyway to prevent a bigger devaluation of the currency than is already happening. Same goes for the UK

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>The consensus among economists is protectionism slows down economic growth and is worse than free trade in almost every way.
I don't give jack shit about what is good for "free trade" aka international jewry.
I care what is good for my own people.

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>growth

Fuck your growth.

>is worse
for who?

>Believing the Communist party on their official numburs for economic growth.

Most of it is funded by more and more debt of Chinese local governments for useless infrastructure projects that never get finished.

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unless the whole point is to devaluate it

...

That'll end up hurting everyone even more and will make the crisis worse. It's postponing the crash but making it worse the longer you wait. There is no point in prolonging it besides conflict of interest up until the point where we can no longer have low interest rates anymore.

lol no
every developed country became rich by protecting its stuff
every single one of them

Free trade is good for the very rich
Protectionism is good for the workers
It just depends on who you care for and economists care for the people paying them

>your own people
>Implying shabbos goyim

Protectionism is only good for the few workers who benefit from having a job, however its a lot better for the producers who own the company being protected.

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This

Sure.
For market profiteers.

However protectionism is good for a nation.

Rebuild materials industry first.

Then rebuild heavy industry.

Without those industries on your soil, you're screwed as far as building anything for yourself.

They keep screaming "Free Trade" but the funny thing is we do not have free trade with anyone. We are constantly getting fucked under the high minded guise of free trade while only our rivals enjoy that luxury while slapping tariffs on anything American. Whats good for the goose.

Not believing them is officially a conspiracy theory. Econ fags raus, the day of the locker is coming.

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This. The West simply can't compete with the negative externalities the developing world is willing to endure, be it environmental damage, child labor, high worker suicide, and residential industrialization

How do you create more industry or rebuild your industry if you limit your exports by making it more expensive for the foreigners to buy since they have less money to spend if they even buy your products, also they can't export as much either because you're making it more expensive for them to export as the consumers in the US will have to pay more now.

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economists also told people to not invest in bitcoin. good thing i didn’t listen to them.

>Believing anyone at something about Bitcoin

Bitcoin is more of a hitt or miss situation. No one can give you any prediction that is in the least bit serious since bitcoin is too fucking volatile and people's wallets being stolen occurs from time to time.

>this
Free trade works on a level playing field but when slave labor is used No one wins but the Hebrew