Advancing Time: Tariffs Are A Way Of Putting A Finger On The Scale

Advancing Time: Tariffs Are A Way Of Putting A Finger On The Scale: Tariffs are a way of putting a finger on the scale, metaphorically speaking. While we are hearing the negatives about how they raise prices ...

Tariffs Are A Way Of Putting A Finger On The Scale

Tariffs are a way of putting a finger on the scale, metaphorically speaking. While we are hearing the negatives about how they raise prices for consumers, they also have the positive effect of making products made in our country more competitive in our local market.

It is wise to remember that companies in many other countries are not burdened by paying workers healthcare costs or in many cases, any type of benefits. This gives them a tremendous advantage even before factoring in wages that are often a fraction of those paid in more developed societies. Also, if you add in subsides they are getting from their government it is game over

This all flows back to the importance of where and what consumers buy matters a great deal when it comes to a nation's economic health. Considering that free trade is not necessarily fair trade, makes using a finger to balance the scale even more necessary. This becomes very clear when looking at China's plan to export millions of low-cost EVs into countries. With our domestic manufacturers unable to compete, without tariffs, they would go out of business.

How can a company in America that is forced to pay high wages, provide expensive medical coverage, and pay for benefits such as paid holidays and vacations even think about competing with those that don't? To make matters worse, countries such as China, that under stand the value of providing workers with jobs, tip the scale even further. They do this by giving companies subsidies in many forms, some less visible than others. 

While people involved in giving investment advice such as  Rick Rule take the stand tariffs are simply a tax around 18 and a half minutes into this video, that view is a bit simplified. What Rule fails to take into account is that fair and free trade are not the same thing. Cheap goods entering a country may help lower costs to consumers but they have a hidden cost.

The claim that tariffs are a tax has some merit. Still, if you agree that there is no such thing as a free lunch, then you should be open to the idea that entitlements need to be paid for in some way or form.  

In short, we need productive jobs, this means jobs that build things and create wealth, not simply keeping people occupied. Without people in America working and paying taxes, outsourcing the production of the goods we use to other countries is not sustainable. Trade deficits bleed a country of its wealth and result in debt.

When a county, like China, subsidies production which lowers cost, they crush the fairness we expect when it comes to trade. Plugging the holes in a trade system that is not as transparent as we tend to think is not easy. An example of this is how China exploits the rules by using Mexico as a way to get goods into America by sidestepping tariffs. 

Tariffs are a way to protect domestic producers and halt jobs from being pilfered by exploiting nations like China. History has many examples of empires being created by those who understand the power of selling far more than you buy. Fortunately for America, China has squandered its opportunity to accumulating great wealth through stupidity and corruption. The evidence of China's missteps are visible in its ghost cities and first-class infrastructure in the middle of nowhere.   

Some economic watchers have warned that increasing the number and amount of tariffs could escalate into a global trade war with massive ramifications. This occurred during the Great Depression, I think the danger of this is overblown. Most rational people understand the best result of trade is to create a win-win situation. Trade imbalances generally fail to accomplish this.

 

(Republishing this article is permitted with reference to Bruce Wilds/AdvancingTime Blog)

Advancing Time: Fox Grilled Vice President Kamala Harris On Issues

Advancing Time: Fox Grilled Vice President Kamala Harris On Issues:   Vice President Kamala Harris was grilled by Fox News chief political anchor Bret Baier on 'Special Report. In just over a 25-minutes, ...

Fox Grilled Vice President Kamala Harris On Issues

 

Vice President Kamala Harris was grilled by Fox News chief political anchor Bret Baier on 'Special Report. In just over a 25-minutes, they discussed immigration, the economy, responding to U.S. adversaries, and more. Prior to the event, there was a great deal of fanfare about Harris's courage to enter the lion's den and face what was predicted to be a tough interview that might well decide the Presidential election. 

Immediately after the interview, the left-tilting media rushed to paint a picture of a triumphant Harris not only surviving the ordeal but dispelling all doubt as to her ability to field tough questions. Also, it seems, that claims Baier was overbearing and rudely interrupted Harris were also put out there to create sympathy for Harris. 

Surprisingly, this important interview was a bit difficult to find on the internet, but when located and watched in its entirety, viewers may come away with a different opinion than what many newsgroups alleged. Many of the almost 20,000 comments below the interview video focused on her not answering the questions, blaming everything on Trump, and telling Baier, "come on, be honest, you know what I mean." Below are a few of those comments:

*She spent 27 minutes blaming a man who hasn't been in office almost 4 for yrs for everything. 

*Always Trump's fault yet she's been VP for 4 years. Deflect, deflect. I LOVED how he pushed her but she still didn't answer his questions. 

*I am not a Trump supporter. With that being said, it is beyond infuriating watching her refuse to take responsibility for ANYTHING.

*The woman who never earned a single vote in a primary is concerned about "democracy." You just can't make this up.

*When your main platform is to criticize the opposition, it simply means you have no platform.   

There is no reason to bore you with more, here is the link to the interview, decide for yourself.  https://www.youtube.com/watch?v=80DaR2CVNNk

 

(Republishing this article is permitted with reference to Bruce Wilds/AdvancingTime Blog)

Advancing Time: MISINFORMATION, Using Doublespeak As Censorship

Advancing Time: MISINFORMATION, Using Doublespeak As Censorship:   The word of the day is misinformation. Those using it are often trying to censor speech and opinions, which they call "dangerous,&quo...

MISINFORMATION, Using Doublespeak As Censorship

 

The word of the day is misinformation. Those using it are often trying to censor speech and opinions, which they call "dangerous," in an effort to silence those they oppose. Labeling the views of those you oppose as misinformation that must be squelched is a way of utilizing "doublespeak" as a form of censorship. 

The claim someone is spreading misinformation diminishes the message of your opposition or detractors. It implies they are lying or simply do not know what they are talking about. When put in context, it also reinforces the idea "me good, them bad" even though it requires no proof the accuser is telling the truth.  

Doublespeak is defined as language that deliberately obscures, disguises, distorts, or reverses the meaning of words. This can be in the form of euphemisms, such as "downsizing" for layoffs and "servicing the target" for bombing a location. Doublespeak is primarily used to make the truth sound more palatable. The flaw in what you have read is this is not just about doublespeak but something far more sinister, it is about something bordering on straight-out lies.

The term "doublespeak" flows from concepts in George Orwell's novel, Nineteen Eighty-Four. This term, as well as "Newspeak" are not used in the novel but are descriptions of the misleading type of speech often used to deceive. Screaming that something is misinformation and those spreading it are awful immediately paints them as unreliable or dishonest. At the same time, it is a way of elevating the speaker or writer to a higher plane of honesty.

Declaring a message as misinformation and not directly answering a question are powerful weapons in burying the truth and spreading propaganda. It opens the way for someone to take us down the path where they can spout scripted platitudes and prepared sound bites. Sadly, this has become our world, and it seems, polarization will continue to only make it worse. This is a reason to be wary of those slick talkers gifted in promoting their agenda. 

(Republishing this article is permitted with reference to Bruce Wilds/AdvancingTime Blog)

Advancing Time: The Fed And Its Muddy Path Forward

Advancing Time: The Fed And Its Muddy Path Forward: The Fed's biggest failure is seen in not forcing the government to cut spending and allowing it to pile up massive debt. The Fed's ...

The Fed And Its Muddy Path Forward

Not forcing the government to cut spending and allowing it to pile up massive debt can be seen as the Fed's biggest failure. The existing massive sovereign debt makes the Fed's path forward a matter of great debate. When describing its options, terms such as "painted itself in a corner" are used. This indicates many people understand the Fed is not limited in its options but will face great difficulty in arriving at a good outcome. 

Insanity and madness in the financial system and politics have reached the point where it has become normal. This is evident in many areas of our society. Little noticed was Jill Biden recently running a cabinet meeting like this was a normal part of the First Lady's role in Washington. This comes at the same time assassination attempts on Trump, a Presidential candidate and former President, are seen as no big deal. These dovetail with claims we need an interest rate cut when markets are making new highs. 

With equities, gold, and many other markets hitting all-time highs, the Fed cut rates 50 basis points. How do we reconcile the idea we must rapidly cut rates if the economy is doing so well? 

Circling back to economics, around six minutes into a recent video, Daniel Lacalle, author and professor of economics, mentions the unmentionable, unfunded liabilities. He also makes it clear that America is not alone or positioned as poorly as many other countries. Laccalle then moves into an in-depth discussion on shifts now occurring. Lacalle also covers much of the unfunded liabilities in a much shorter six-minute video that points to the debasement of currencies and more loss of purchasing power in the future. The link to that piece is; https://www.youtube.com/watch?v=PmUAxI_M9oE

Very troubling is his case that we have seen nothing yet. Lacalle claims we are on a course of “monetary destruction” that will get far worse as we move towards the 2030s. This has created a situation where some investors are already moving towards strategies that safeguard their wealth in uncertain times. This includes things such as negative interest rates, bank bail-ins, and the topic of de-dollarisation. Financial repression is not implemented to give us choices but is a tool to shift wealth away from the people and to the government.

As already noted, the Fed is not alone, central banks across the world have miserably failed to contain government expansion and spending. In the minds of many investors, it is odd that the price of Gold going higher at the same time many economic pundits talk about falling into a deflationary recession or worse. If gold and dollars rise together this is of course in relation to all other fiat currencies. Still, there is the problem that as the dollar rises in relationship to other currencies it creates havoc in global markets. 

The fact is, much of the power of central banks flows from being able to inject liquidity into the market during times of turmoil. Their Achilles heal or weakness, which many people have yet to understand, is their limited ability to control the long end of the rate curve. This refers to long-term interest rates, these rates are more dependent on investors' sentiment and views of currency debasement and inflation.

The recent volatility blamed on an unwinding of the Japanese carry trade highlights how the relationship in the value of fiat currencies can pack a wallop. Even as this is being written, we have economists and economic advisers pointing in all directions when it comes to where markets are going. Some are predicting a melt-up, some are declaring "clear skies ahead," and others that the economic wheels are about to fall off the bus. 

When it comes to those controlling the Central Banks making decisions that determine the course we take, it would be wise to remember they do not have total control of the situation. We may find they chose the wrong course, their tricks, or even changing the rules are ineffective. In a past posting, I pointed out that given enough pressure they might, even if it is a bad decision, again open the gates and flood the system with a plentiful supply of cheap money. 

We should marvel at how far Fedspeak, wordy, vague, and ambiguous statements, has gotten us so far. This is amazing considering how broken and dysfunctional the financial system has become. The crux of this post is that we live in unusual times and we should expect conditions around us to be both unpredictable and volatile. Factor in the coming election, the drumbeat of war, and what is happening in the area hit by Hurricane Helene, and it is clear, that we live in interesting times. With this in mind, it is difficult to envision the Fed will be able to continue successfully threading the needle.  

 

(Republishing this article is permitted with reference to Bruce Wilds/AdvancingTime Blog)

Advancing Time: Helene, Government's "Total Fail" During A Major D...

Advancing Time: Helene, Government's "Total Fail" During A Major D...: Yes, it's happening. Following Hurricane Helene, we are witnessing a total failure in the government's response to a major disaster....

Helene, Government's "Total Fail" During A Major Disaster

Yes, it's happening. Following Hurricane Helene, we are witnessing a total failure in the government's response to a major disaster. Reports on NBC, as well as hundreds of others give us some insight as to some of the problems people across western North Carolina are facing. With roads, bridges, water pipes, and electrical lines washed away, FEMA is telling us they don't have the money to "Git er done." It seems the money has gone to aiding immigrants at the border and providing weapons for Ukraine.

During Disaster, Real Help Is Hard To Find

Desperate families are still waiting for word about missing loved ones, days after the flooding disaster in Tennessee, and North Carolina. Expect politicians to fill the slots in the mainstream media to spin the reality on the ground into a tale of "we are getting the job done" The fact is, they are not.  

Fast-talkers, such as Pete Buttigieg, will vigorously paint a picture that the Biden /Harris team in Washington has risen to the task. Sadly, the history of people like Buttigieg, the equivalent of a modern-day snake oil salesman is to twist the truth. As one of Kamala Harris's prime damage control go-to guys, it is his superpower to capably paint a glorious picture, over-promise, and then underperform. 

 Buttigieg will concede that while this is terrible, efforts are continuing to be ramped up and things are under control. He is unlikely to adequately address the issue of why many of those with feet on the ground are being told by government authorities to stand down under penalty of arrest. This includes efforts to seize aid materials flowing into the area under the idea they need to be "inventoried" and redirected to the proper agencies.

In the middle of 2022, an article on AdvancingTime cautioned on how during a major disaster nobody should count on help from the government. It has been a long time since America has had a really good leader. Sadly, the damage these "less than stellar" Presidents cause a lot of problems for society that can linger for decades. With this in mind, it should be noted that bad leaders have a habit of opening Pandora's box for the greater good whenever a disaster strikes. It seems, to some politicians, that the only way the government can help us during a crisis is to focus on taking more control over our lives. 

At that time, some Freedom of Information Act (FOIA) documents released by the George W. Bush Presidential Library spotlighted the powers that modern pres­id­ents "claim they possess" in moments of crisis. Following 9-11, this type of expanding the President's powers could be viewed as a pure power grab. In short, during a national crisis, governments seem more interested in control than coming to the aid of their citizens.

The "presidential emergency action documents" (PEADs), were created during the cold war. Back then, many people feared we might be attacked with nuclear weapons. These documents authorized the president to enact measures such as suspending habeas corpus, detaining "dangerous persons" within the country, censoring news media, and even preventing international travel. 

The desire to extend power dovetails with today's high-profile disasters where the media generates the feeling our government stands ready to rush to our aid in case of a national disaster. Following a tornado or hurricane in the news, we often see FEMA workers spread out and moving from door to door offering help to Americans in need. This reassuring media coverage is misleading. The truth is if you find yourself in a large area of devastation due to a crisis or disaster  the government will prove largely ineffective. 

What is occurring in the areas devastated by Hurricane Helene is proof that when a large Armageddon event does occur people affected quickly find that God helps those who help themselves.

The trend of pandering to victims that we have seen develop over the years may be a result of the battering former President Bush took in opinion polls following Hurricane Katrina. The pictures that the media posted following a slow response in handling Katrina haunt his administration and paint Bush as being insensitive and out of touch with the plight of poor Americans. Unfortunately, claiming the government is responsible for dispensing sorrow and grief does not result in repairing communities and lives torn apart in a disaster.

Over the years in our media-driven world, the President has adopted the role of "consoler in chief." This means they are expected to pour forth sympathy and cast out concern for every American following incidents of destruction or violence. It does not matter if it is an accident, shooting, or some natural disaster, in recent years all this has reached new heights where even in the case of a few deaths it is not uncommon to see the President leaping upon Air Force One and rushing to the scene or calling to express a huge dose of heartfelt sympathy. In this politically correct world, it has even gone so far as to the President being expected to weigh in on minor tragedies that occur throughout the world.

It should be noted that much time is wasted performing these acts that could be better used and focused on solving many of the real and pressing problems that face America. In reality, this pandering is a major disservice to Americans, it fosters the impression the government will be there for you if you ever get into a pickle or jam. While reassuring to many the false illusion of a competent and effective government ready to come to your aid comes at the cost of raising unrealistic expectations. 

I suspect that with the formation of the massive Homeland Security Agency, this may be a case of reassuring the masses that their tax money has not been wasted, while it is. A perfect example would be the government's reaction to the Boston Marathon bombing. The response was overwhelming, but in the end, it was a homeowner checking the tarp on his boat who noticed a spot of blood and not the thousands of law enforcement officers that brought the manhunt to an end. 

No Government Is Ready For This!

No matter the amount of planning, it is silly to think someone can quickly rush to an area they are totally unfamiliar with and institute actions to efficiently solve massive problems. Do not be fooled, in the case of a real disaster the government is generally not very effective, the real help will come from your neighbors, this has been the case throughout history.

It is important to remember, that all disasters are not created equal. There is a huge difference between a tornado and a nuclear bomb going off in a major city. Also, what happens if the power grid fails and electricity is lost over a large area for a long time during inclement weather? In all reality, the Federal government would be relatively ineffective and not much help in a major crisis that covered a large area and affected tens of millions of Americans. 

Anyone who has ever experienced the frustrations caused by a bad storm with power outages and such will tell you most help comes from nearby and government is not the answer. People who adopt the attitude that they are victims following a major disaster and wait for government help to arrive should expect to wait a very long time. Anyone counting on the government is making a huge mistake, simply waiting for help can be the kiss of death. Still, the government should be doing a hell of a lot more to aid people in this disaster than they are. This indicates a total failure on the part of Washington. 

Footnote: Regardless of what you have been told, it is the people of this great nation that made America famous, not the government. Here is the link to a very moving 1974 Harry Chapin song that vividly captures this notion it is titled: "What Made America Famous." 

(Republishing of this article welcomed with reference to Bruce Wilds/AdvancingTime Blog)