All the talks, all the speeches all boils down to.
Mr O against Mr MC meaning
Protecting industries/market VS opening up (Free Trade)
If Mr O stands to his words and does the former, US economy is definitely going to crash. His solution is short-term (sounds pleasing to the year). But the cost of paying will be higher.
Mr MC - Yes, opening industries may mean loss of jobs, BUT in the cycle/process (importing &exporting) I will not go into the theories. US economy will bounce back in 2-3 yrs i believe, MORE jobs are going to be created. Its going to be a WIN-WIN situation. By then, the govt CAN & should focus on doing 'charity' and helping the people that lose their job.
Note: By protecting their industries ( subsidy to companies/imposing tax for FDI etc) cost about >400 billion to the country.
By re-training (on a high level) an estimated number of 1million worker, it only cost 40 million to the country.
Which is a better solution?
This is not lip service. we HAD NOT experience it before and we are paying dearly for the mistake now. it had been proven again & again & again that protection KILLS & Free Trade only makes a country stronger.
Look at India, how tremendous their growth have been after they open up 18months ago. Look at Japan, they are slowly opening up and see how much is their growth. Look at Ireland, Look at Singapore. Look at Thaksin. Yes, he was convicted of corruption BUT what are the facts? Facts are Thailand economy BOOMS under Thaksin. Facts are MORE people are having jobs, Facts are more people are living a higher standard of living.
The very same man (Id***) who advice US on "protection" Paul Krugman" after 40 years, is now TURNING back on his words and saying, US needs to open up. read his book "The conscience of a liberal", you will be intrigued.
I won`t go deep into concepts or theories, but all this is happening right before our eyes. It IS proven, who & what does US needs right now. short-term solution which eventually kills a country & people have to pay a higher price OR the latter. I think the answer is clear-cut, just read the papers this few days or for the past weeks. EVERYONE, is banking on Mr MC to take the "hot" seat.
US has made a mistake for far too long and its time for a wake-up call!
As for Mr G.B i shall not comment on him BUT he should not be taken as a basis to do a comparision between Mr O & Mr MC.