interesting ...,



Interesting because, most members in Mingle appear to be Net Importers.

WOW!! We import 466 Billion! That helps explain why the administration is so concerned about our trade imbalance. It also helps explain why some segments of our economy have shriveled up and basic jobs have disappeared. We have outsourced those jobs to other countries and now import those products back into the US.

It's an eye opener.
Easy answer is don't buy stuff cheap!
But then you have another problem.
People wouldn't be able to afford most of it if it were made at home.

Another funny thing is the Huawei scandal with the usa saying it has connection's with the Chinese state and Britain shouldn't have 5g from them.

Huawei make electronic circuit boards and other computer stuff for the new F 35 fighter jet

A closely related issue is the restrictions some countries have on our access to their markets. I can understand them trying to protect some of their own business interests but they need to realize we also need a level playing field in trade. I have to believe the best situation is when the most efficient producers are the producer of choice to the global economy.

Something to look at with this, is the sequence of events.

The US started outsourcing industry overseas, after China was opened up as a blank-check trading "partner' back in the 1970's, and trade and tax regulations were "adjusted" to make it vastly more profitable to make things overseas and import finished products, than keep industry at home.

Despite claims by some that high wages for some workers, driven up by unions, were the primary cause of everything, the reality is very different.

Wages were driven down AFTER the Reagan era "supply side" tax cuts were handed out to businesses and the investor classes with no corresponding spending cuts.

Despite huge reductions in wages and benefits, industries still raced to send manufacturing jobs elsewhere, again because various regulations caused that behavior to be more profitable.

The reason why Trump has been surprised by businesses CONTINUING to do this, despite even more vast cuts to taxes on the investor classes, is because HE refuses to recognize the facts about this game as well.

You will need to explain this more. I do not see how reducing taxes on business or even on individuals would make it cheaper to produce some products in a foreign country. Other regulations such as labor and environmental that push up the cost to produce here would make it cheaper to import the finished product than produce it here.

Your right old kid, there is no way on this earth that a western country can produce something cheaper than China. By imposing tariffs /tax on imports it will only benefit a government.

Oldkid,
I also learned from this. I had known the US was one, but I had no idea our trade was that imbalanced. Like you, I looked up the statistics after reading this. It's a very distressing situation.

Yes, I agree that the trade imbalance is distressing news. I'd like to know some specifics, like what is the most imported items to this country.

I tripped over a website last year, that had exports from the states. I expected Indiana to be a net exporter of farm related goods. Boy was I wrong! Number one item going out of my state-Steel. Number two was just as astounding- Car transmissions.

Obvious guesses, Petroleum, electronics, and steel.

Another observation from the UK side is take a look at germanys, and they say Europe is a level playing field!
Sooner we're out the better.
Germany and France have built Europe around there selves, inviting smaller countries to join so they can get cheap labour! .
Our left party (labour )want to keep us in yet they are meant to support the working class. it's the working class jobs (Manuel ) that have been robed from here!

I just looked up US top imports. I was surprised. From the site I looked at, it stated Machinery,including Computers was the top import at $386.4Billion, then Electrical Machinery, Equipment at $367.1B, Vehicles at $306.7B, Then Mineral Fuels, including Oil at $241.4B.
Those were listed as the top imports to the US.

Hi Mikey,
It's interesting what you said about France and Germany. I had never thought about that and how it effects the rest of Europe.

When you say Left (Labor) party is meant to support the working class,
Is the Labor party, would that be roughly equivalent to the democratic party here? more liberal,etc.?
What is the Opposing, more conservative party called?

Or is the Labor party, just that, exclusive in the interests of Labor?

Because, I think you're saying they don't want to open up more jobs to the working class, because they are in France and Germany, or do you mean the Labor party wants the products made in the UK?, not imported from other countries in Europe, because that would not only create more jobs in the UK, but
Create an asset/s for them to export?

P.S.
Forgot to say, Jaish, clever use of the term/title for this site.

Hi Susan,
The labour party I guess is like your Democrats.
Always been seen a a left wing anti big business type.
No. they are all for Europe which contradicts what they are meant to stand for. Most of our industry has gone to the cheapest countries of the European union.
That in itself doesn't make an even market!

Labour, backed by the unions has wrecked industry here over the years with strikes and things.
Which again contradicts what they stand for,. Yes they make people strike over pay, but it's not that easy. We'd all love more money but we'd have to pay more for goods!
So I can't understand why they would want to be in a club that basically takes away manufacturing job
The Conservative government is in power now.
We were meant to have left Europe earlier this year but the deal kept getting blocked, also by some members of the present government.
The labour party will block any deal. All they want is to bring down the government at any cost. then if they won an election they would reverse the vote and stay in Europe. again contradicting what they stand for, democracy and people's rights to vote

I better just add, this is my view.

Thank you for sharing your view, Mikey, and I Appreciate you explaining all that.

I did not realize until I saw your post, and looked it up, that the UK was set to leave the EU on 10/31/19.

I was reading about the possible ramifications of this for the UK, financially , and also regarding the Irish borders.

Very interesting. I guess we'll find out soon.

Your welcome, I'm not a politician, just see it from a normal persons view I think.
The irish border is a problem, I think it's being used a a stumbling block on purpose, as it could well start the troubles again, Dino would be the best guy to explain that.
It's on the news constantly. what if what if? There could be a shortage of medicines, excuse me, but why aren't they being made here anyway?
Then the left are knocking trump for saying we'll have a great deal with America! You can not win!
It's like a bad divorce, it just shows how quickly your supposed friends (Europe )will turn on you when they don't get there way!

I just looked up US top imports. I was surprised. From the site I looked at, it stated Machinery,including Computers was the top import at $386.4Billion, then Electrical Machinery, Equipment at $367.1B, Vehicles at $306.7B, Then Mineral Fuels, including Oil at $241.4B.
Those were listed as the top imports to the US.




I suspected as much. All one has to do, is walk out, and look up at any power line in the US, and see an imported good. Those round cans that hang from a power pole, transformers, is a big import item. Only one company in the US makes those. The rest, are imported. I doubt there is a tv, computer, or any electronic gear is made in the US anymore.

Manufacturing does not appear overnight. I watched a program about Ford changing over to an automated chassis assembly process. It was well planned, and done in a rush. It took millions to do it, and very little time was allotted for screw ups. And they had 'em, too.

Us making things isn't an overnight process. We'll continue to import until domestic production gets online. Shutting down a factory is a lot faster than starting one up.

It's the same here redrider, but, people are so used to paying lower prices that the whole economy has adapted to it. Wages, cost of living, housing etc.
Any person you ask will be all for home made products, but say they need a new tyre for example. go to the garage they have two types of the tyre you want. one is made in America and it's $300 and the other is imported and it's $150 they will go for the cheapest one. same applies to any goods.
virtually impossible to compete with very cheap foreign labour.

I'm not really surprised by what we import into the US. In my opinion, this raises 2 concerns. We need to have products that we export to offset the amount of imports so that the trade balance is nearer to even. We also need to be concerned when those imports destroy certain industries such that we become reliant on foreign countries for that industry. There is a big difference between opening a factory to produce dishwashers vs an industry to produce steel or copper wire. Given the availability of the raw materials, building new dishwashers becomes relatively easy; trying to do that without steel or copper wire is impossible.

Same in the UK oldkid, trump did say he'd re open the massive steel foundries in the mid states I think it was.
When they are shut down they can't actually be re started, ever!
We've had it here. something to do with how they are made.
thing is, we have been exporting millions of tons of scrap metal to China for years, anyone wonder what they were doing with it?
Yep, producing low quality chit steel to sell to us!