Foreign-made products will be the death of us
We have met the enemy and he is us. This memorable quote from the “Pogo” comic strip is appropriate for the economic situation in which we find ourselves. To save a few dollars, we buy all kinds of foreign-made goods imported into our country. This is possible due to the trade agreements the United States has entered into with other countries. These agreements were intended to help create jobs in America as well as the countries that entered into the agreements. But we have suffered the net loss of thousands upon thousands of jobs, particularly in manufacturing. Small appliances, automobiles, heavy equipment, food, steel, you name it. My wife and I went shopping for an electric can opener recently. All the major brands are made in China.
The end result is increased unemployment (friends, neighbors, family and possibly you). Trade deficits with other countries have ballooned. Unemployment means economic hardship, more food stamps, fewer income taxes paid into the treasury and more unemployment insurance paid to the unemployed, which increases the national debt.
The trade agreements our government signed have specific provisions. Countries like China, South Korea and Japan subsidize their industries and manipulate their currency so their products are cheaper. We reward these violations by buying their imports. How foolish we are. We truly are our own worst enemy.