<story><title>The fraying of the U.S. global currency reserve system</title><url>https://www.lynalden.com/fraying-petrodollar-system/</url></story><parent_chain><item><author>hedora</author><text>True, but he said he said that simply because Bernie did, and it played well against Hillary in the primaries.&lt;p&gt;He didn’t do anything that actually slowed the loss of our manufacturing base while president.</text></item><item><author>User23</author><text>Trump was the first president in my lifetime to even admit gutting our manufacturing base is a problem. Neither Democrats nor establishment Republicans did anything but line up for their shockingly paltry share of the loot while mouthing platitudes about efficiency.</text></item><item><author>downrightmike</author><text>This happened in part thanks to bain capital, those following the same business model of theivery, and the deregulation in the 80&amp;#x27;s. &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Bain_Capital&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Bain_Capital&lt;/a&gt; Republican lawmakers and party members have been destroying America for generations. Goes back even further to 1971 when Nixon opened talks with the CCCP and then went there in 1972 cutting the ground out from beneath American workers. And now if we even wanted to rebuild our manufacturing base, we have to deal with the same problems the few remaining factories do, finding people not on some kind of illegal substance that can work. The bodies are there, but they aren&amp;#x27;t in any shape to bring back what we had.</text></item><item><author>CoffeeDregs</author><text>&amp;quot;Instead of drawing down our gold reserves, however, we gradually draw down our domestic manufacturing base and it gets replaced piece-by-piece in foreign countries.&amp;quot;&lt;p&gt;To me, this is the money shot.  I hadn&amp;#x27;t seen this expressed before and it makes perfect sense.  I&amp;#x27;m baffled that we (the US) &lt;i&gt;caused&lt;/i&gt; this to happen to the US.  I&amp;#x27;m (unhappily) registered Republican but I argued vociferously to a Dem friend in 2000 that our inability to manufacture critical components was going to kill us.  Kind of literally: AFAIK, the last LCD panel manufacturer in the US closed around then and we could no longer manufacture LCD for our military vehicles...  (Even if this anecdote is untrue, the point remains valid...)  I argued that, even in the presence of free trade, a country should have the ability to tariff imports to the extent that that country could maintain a 25% (or something) domestic market share.</text></item></parent_chain><comment><author>omgwtfbyobbq</author><text>He ended up reversing the steady gain we&amp;#x27;ve had in manufacturing jobs since 2010, albeit indirectly, because he botched the response to covid.&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;data.bls.gov&amp;#x2F;timeseries&amp;#x2F;CES3000000001&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;data.bls.gov&amp;#x2F;timeseries&amp;#x2F;CES3000000001&lt;/a&gt;</text></comment>
<story><title>The fraying of the U.S. global currency reserve system</title><url>https://www.lynalden.com/fraying-petrodollar-system/</url></story><parent_chain><item><author>hedora</author><text>True, but he said he said that simply because Bernie did, and it played well against Hillary in the primaries.&lt;p&gt;He didn’t do anything that actually slowed the loss of our manufacturing base while president.</text></item><item><author>User23</author><text>Trump was the first president in my lifetime to even admit gutting our manufacturing base is a problem. Neither Democrats nor establishment Republicans did anything but line up for their shockingly paltry share of the loot while mouthing platitudes about efficiency.</text></item><item><author>downrightmike</author><text>This happened in part thanks to bain capital, those following the same business model of theivery, and the deregulation in the 80&amp;#x27;s. &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Bain_Capital&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Bain_Capital&lt;/a&gt; Republican lawmakers and party members have been destroying America for generations. Goes back even further to 1971 when Nixon opened talks with the CCCP and then went there in 1972 cutting the ground out from beneath American workers. And now if we even wanted to rebuild our manufacturing base, we have to deal with the same problems the few remaining factories do, finding people not on some kind of illegal substance that can work. The bodies are there, but they aren&amp;#x27;t in any shape to bring back what we had.</text></item><item><author>CoffeeDregs</author><text>&amp;quot;Instead of drawing down our gold reserves, however, we gradually draw down our domestic manufacturing base and it gets replaced piece-by-piece in foreign countries.&amp;quot;&lt;p&gt;To me, this is the money shot.  I hadn&amp;#x27;t seen this expressed before and it makes perfect sense.  I&amp;#x27;m baffled that we (the US) &lt;i&gt;caused&lt;/i&gt; this to happen to the US.  I&amp;#x27;m (unhappily) registered Republican but I argued vociferously to a Dem friend in 2000 that our inability to manufacture critical components was going to kill us.  Kind of literally: AFAIK, the last LCD panel manufacturer in the US closed around then and we could no longer manufacture LCD for our military vehicles...  (Even if this anecdote is untrue, the point remains valid...)  I argued that, even in the presence of free trade, a country should have the ability to tariff imports to the extent that that country could maintain a 25% (or something) domestic market share.</text></item></parent_chain><comment><author>AnthonyMouse</author><text>&amp;gt; He didn’t do anything that actually slowed the loss of our manufacturing base while president.&lt;p&gt;Come on now. Say what you will about the effect of the tax changes on inequality, they&amp;#x27;re clearly designed to make it more attractive to do business in the US, e.g. lower corporate rates and allowing capital expenditures to be deducted immediately rather than amortized over a period of years. It&amp;#x27;s hard to argue that tariffs on goods from China don&amp;#x27;t make it less attractive to buy goods from China.</text></comment>