In the best interest of the country, should our economic policy move towards a more global or domestic policy? Your Thoughts?
since most other countries focus on their domestic policy, and call fair trade as "dump low price goods on the west and try and keep western goods out..."
Before the end WW2 when the living standard was signifcantly lower, Americans couldn't even afford to import the amount of products that they do today. After 1971 a faustian bargain was established where foreigners would sell products to the US in exchange for using their foreign reserves to purchase US debt. The whole system is based around Americans being given a high living standard. If Americans didn't import as many goods, then prices would go up for products and politicans would be thrown out of office. Most consumers in the US don't care for saving, they are only concerned with short term spending.
That does always amaze me that so much of our economic policy and even our regulatory issues are based around our high standard of living. God forbid if I can't have the 09 gucci shoes special edition and had to settle for the regular ones lol! However I do admit that I am as guilty as any american and do not do alot to add to the problem.
As much as I can, I try not to. I am debt free, spend very conservatively (cheapskate), and try to invest wisely. I subscribe to the theory that we are stewards of what we have. When we die, there is no U-Haul behind the hearse. I more appreciate the mold of Sam Walton, who was a megabillionnaire, yet still drove the same old truck, and wore ihs overalls. It isn't about possessions. it is about people. It is about character.
It should be : In the best interest of mankind.... Remember we now have weapons of mass destructions of every kind...