This is well worth watching, as Dylan rants about Wall Street …
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To answer his question, how do we create jobs in this country, I gave my answer in “5 Fixes America Needs Right Now.”
We need to put fair-wage tariffs on everything coming in from China and all the other slave-wage pestholes that are sucking our jobs away.
And as for Wall Street, well, Dylan’s right.
Also, I agree with Tim Duy …
I believe free trade works, but I also believe we don’t really have free trade. In reality, foreign central banks manipulate currency levels such they accumulate massive amounts of foreign exchange reserves that effectively recycle Dollars back into the US to support consumption activities, and thus impact the dynamics of trade flows in an obviously mercantilistic fashion. This has been accomplished with the full acceptance and even cooperation of the US Treasury. It was an outcome of the strong Dollar policy, and it is why China has not been named a currency manipulator since 1994. But those central banks are immune from criticism on free trade because they interfere in the financial side of the external accounts, not the current transactions side. Indeed, one cannot even question the negative impacts of this dynamic.
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{ 5 comments… read them below or add one }
Steve must be aware of the cozy connection between Washington, Wall Street, the super wealthy and the corporate super-wealthy…those who make sure only those willing to have lobby legislation pass for government policy and laws make it to Congress and the White House. Instead of ranting support true campaign reform and become a champion of the Independent Progressives.
Trade is not truly “free” if it is not also fair.
Sean,
I read your material to learn how to make money from the current situation. As a tiny individual investor/trader, I don’t have the power to change the dynamic of a captured Congress, and unless you’ve bought yourself a lobbyist or Congress-critter lately, neither do you. So while I might nod in agreement with your “5 Fixes for America,” I see no way to profit from it. Please stick to talking about what I’ve paid for in this forum, and save your political discussions for a forum where people go for that. Maybe the Dylan Ratigan show has a guest slot open for your musings.
Thank you Dylan for speaking up for the tax paying public. We are getting screwed at the expense of the Goldman sachs of the world, the politicians supporting them and nobody seems to care. The media is much of the problem, and it is refreshing to hear Dylan be so frank about the issue. More of this please…for our countries sake!
Thank you Sean Brodrick for sharing this video.
Is is only that foreign wages are unfair, or that American union wages and benefits are also too fat, like so many Americans. We see what happened to GM with its rich union entitlements. Of course, nothing can really be reduced to such simplistic terms.