Stu and Yaron Brook Web Exclusive The Wonderful World of Stu

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Lets Talk About Let Me Take This To Politics

For a second Donald Trump, you know he’s he’s up he’s down, but he’s been one of the main stories. Obviously the campaign one of the things that he seems to be able to sell to conservatives which I just fundamentally don’t understand is this sort of vilification of free trade of a you know vilifies. For example, China they’re screwing us. They the casey makes and a lot of people will buy yeah They’re screwing us They’re manipulating their currency a look at what they’re doing to us. I’ll win those battles.

The Currency Thing Seems To Really

connect with people people say they’re making cheap goods stealing our jobs can you go through some of those arguments because it’s hard to communicate it is hard because it’s it’s. This is this is economics and economics is not how not. easy and and people think they had to stand it when they don’t look I laugh when they talk about the company’s Cuz I think it’s a funniest thing ever. No government over the last eight years as manipulated its currency more than the United States go Hey I know government in the world we have kept interest rates at zero Yeah. There is no economic justification in the wall for interest rates to be at zero.

What Is That That Thats A Manipulating Covered

currency Yeah We printed four trillion dollars, four trillion dollars of new cash Hmm. So when you have a central bank by definition by definition, you are manipulating the currency. One of the reasons I’m against the central bank any central bank Mm-hmm so Yeah China is doing very similar to what you know we’re doing. They went to the same Keynesian economic schools that. Genius economists go to right and they’re suffering the consequences.

  • advocate letting currencies
  • goods stealing jobs arguments hard
  • strong dollar ideal economic
  • happening china dollar
  • sell conservatives just fundamentally don

Economic Growth In China Is Plummeting Because

they’re adopting more and more of our economic policies rather than adopting capitalism, which they were on the path to doing, which is real freedom. So yes you know they’ve let their currency float which Milton Friedman’s was a huge advocate for letting currencies float and as a consequence of it floating everybody looked at China and look Tina stage said you know what given what’s happening China The dollar’s worth more than the Chinese currency is so that so they the Chinese currency went down two percent right that’s now what’s interesting and what nobody reports is. The Chinese were buying their own Kelty like crazy to prevent it from collapsing Hmm so the facts even wrong that people are talking about at the end of the day. You know if the Chinese devalue that counts if they let they can’t see plummet Who are they who’s gonna suffer well. It’s Chinese be as their pits the Chinese people right and we in America will get cheap goods yeah yeah that’s cool shefa televisions Maybe we’ll get a Chinese car finally write a sustainable living will actually go up right and people say some people lose a job.

Sure Some People Lose Their Jobs, But

if the currency plummets over there and we can now get cheaper goods. It means we’re spending less on necessities. We can save more invest more create new businesses which means more jobs for America. So a strong dollar ideally a stable and strong dollar is the ideal economic policy. We could have.

It Means That Weve Got A Thriving

engaged busy economy which is employing people so you know if we had. a free market which we hope completely in this country now far far UK our country. Unfortunately, so know that this is pure this goes back we were talking about for the show. This goes back to Adam Smith, the wealth of nations I mean everybody know 1776 the book comes out This the first book to articulate the case for trade, What kind of trade people remember. There’s a book for capitalism yeah, but the key point that Adam Smith is saying is a new cat ilysm.

The Idea Of Manipulating Trade Doesnt Work The

whole book is about free trade the best thing. The United States could do in terms of trade Is none of these agreements. NK] Schmatta lower tariffs of goods coming into the United States 20 now and you’ll see the world will change everybody else will try to match us. You’ll get free trade. trade standard of living will almost automatically go up that’s the best trade policy We could have that are playing these games.

Itll Help Us And Itll Help

the world. I mean it will help question everybody and I don’t underst the whole thing about Chinese manipulate manipulating their currency. It’s like we’re arguing for the right to overpay for goods, but it goes deeper than it does when it comes. He isn’t trouble and I think America’s in Trouble. I think I think the soul of America’s in Trouble is something you know the psyche of American.

If You Will Is In Trouble, You Always

look for the other to blame right whether the other is is is the other. In terminal e I think I think a big a big you know the viciousness the the aggression against immigrants today in America illegal legal doesn’t matter I think. It’s driven by that by that hatred of the other because we have to blame somebody for problems and I think this viciousness to which China which crosses across across by the way immigration as well. Bernie Sanders is as antagonistic to immigration as Donald Trump is and they’re both attacking China constantly. This is not a left white issue.

This Is An Issue Of A Country Trouble

when America is growing optimistic positive. You know confident in itself. We embrace the world. We invite people in and we we want to trade with anybody. But when we’re in trouble and we feel bad about ourselves.

We Stop Blaming.

It’s kind of a normal human reaction but yeah a healthy one it’s not a healthy one. It usually leads to kind of you know most statism and actually is there is the precursor to fascism often let me give you. One more here and apparently still releasing books. This is pretty amazing yep so tell me about ideal and what what is the what’s the message behind it So ideal is a play that you wrote in the 1930s and it turns out that she wrote it first as a short novel and then converted into a play.

  • tariffs
  • currencies
  • economy
  • economic
  • keynesian

We Found The Novel In The

archives and it was an opportunity. Even though it’s a very early novel. It’s really her first song for first writing. It was an opportunity bring out in you on Redbook and you know I think I think a lot of people exciting the real theme is is individualism. It’s it’s standing by your values at what integrity actually means integrity to greatness integrity to and you know.

Theres A Theme In Iran Which Is

the great value of great people of the extraordinary person and the value. We all get from somebody extraordinary being among us and I think I think I deal is an early exempt love that theme and I graduating very cool dr. Yarn Brook pleasure as always my pleasure thanks for coming on thank you.

Summary

Donald Trump seems to be able to sell to conservatives by vilifying free trade . The currency thing seems to really connect with people people say they’re making cheap goods stealing our jobs . No government over the last eight years as manipulated its currency more than the United States go Hey I know government in the world we have kept interest rates at zero Yeah. There is no economic justification in the wall for interest rates to be at zero.& Economic growth in China is plummeting because they’re adopting more and more of our economic policies rather than adopting capitalism, which they were on the path to doing, which is real freedom. Genius economists go to right and they’re suffering the consequences. The casey makes and a lot of people will buy yeah. I laugh when they talk about the company’s Cuz I think it’s a funniest thing ever. Let’s talk about let me take this to politics for a second Donald Trump, but he’s been one of the main stories. It’s a…. Click here to read more and watch the full video