continuous inflation made nominal us wages too high to compete globally
if the fed had not targeted 2% inflation and let natural inflation/deflation cycles take over, american workers would be far more competitive internationally
Large trade deficits caused by cheap foreign labor and energy would have generated their own correction - the large US current account deficits would have caused an outflow of gold,which, in turn, would have caused domestic interest rates to rise, domestic credit to shrink and prices, wages and costs to deflate (Thus rebalancing the trade defecit)
Voted for Donald Trump - thought he was a "great disruptor" & wanted radical change
Doesn't think he'll be able to remake America, but thinks he will disrupt
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