A long night. And a longer one coming.

Posted: November 9, 2016 in Business Management, Political musings
Tags: , , , , , ,

trade

 

As everyone by now knows, this is an incredibly tight election, and it is looking increasingly likely that Donald Trump will pull off an historic victory.

The race is very close in Michigan, a state where polling indicated a win to Clinton by 4-10%, and getting better for her, not worse. And Wisconsin is looking dodgy for Clinton. She really cannot afford to lose either of them, and definitely not both of them.

One motivating factor in these states is the decline of manufacturing jobs, particularly in the automobile sector, and particularly in Michigan. Although Clinton was favoured to win Michigan by FiveThirtyEight’s forecast and many others, Trump has touted a message that could appeal to many voters there: International trade has harmed the county.

Sure enough, exit polls indicate that 50 percent of Michiganders agreed that trade with other countries would “take jobs away” from the U.S. Only 31 percent thought trade “creates more jobs.” And among Trump supporters, a whopping 65 percent had a negative view on trade.

Think about that. The party of business, bouyed up by those who don’t believe in business.

How does trade “take jobs away”? It “takes jobs away” in a country where ignorance is frighteningly rife, where self-confidence has plummeted to hitherto never seen before levels, a country that has been constantly sold an untruth, which is that America leads the world economically, when it has been clear for some time now that this is no longer true. A country where a majority of people now say they think things will be worse for their kids than them, and they are probably right. But they have the wrong target in their sights.

Trade doesn’t take jobs away. Trade is the only thing that creates jobs. America used to know that. It’s forgotten. Ignorance has triumphed, egged on by those who should know better – assuming they care – egged on by the very people who use the global economy to feather their own nests.

In other words, this is not a win against the elite. This is a win for one portion of the elite running a better lie.

The rest of the world has a great deal to fear from a blindly protectionist American administration. There may be celebration in Trump Tower tonight, although that is yet to be completely confirmed. There will be no celebrating in world markets.

 

 

Advertisements
Comments
  1. gwpj says:

    As I used to say when I lived in Minnesota, UFF DA!, which is what one says when he has lost his chewing gum in the chicken yard and thought he had found it again. 🙂

    Like

  2. Peter Morley says:

    Yolly, seriously mate, you need to stop trying to predict election outcomes! And stop pushing the leftist clap too while you’re at it. Come over to the right with me – it’s nice over here…

    PM

    Like

What do YOU think? That's what matters. Please comment!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s