Loading ...Re your: “At the moment, the USA, EU and UK sell a lump of polished stone for the same price that the Eastern block make and sell a video system.”
Yes, that’s why Americans can’t resist PAYING foreigners, (like junkies) and why foreigners CAN’T or won’t buy American products. Unless its something good like a Boeing, and we buy crap like toys and consumer electronics.
What you describe below is a possible and likely “transition” period, going backwards from bad to good. If you don’t mind, how old are you? Regarding distorted pricing, I think all product’s values for international trade should be valued in “man hour” costs, NOT manually adjusted currencies to keep THINGS in perspective.
Reserve currency status is NOT good for the USA (all hell already broke loose in 2008) so let some other poor slob wealthy country like China have it. Let China be the import chumps of the world. The bankers have been operating as a global socialist government. If anything the PEOPLE will have to bail THEM out for nonperforming loans. Not them bail us out.
How long will it take to get the new factories built? Who cares? Look how long it took to get unbuilt. Forty some years? So we get a 40 year up-trend, unless everybody makes believe we got attacked at Pearl Harbor again, and they rush the industrial restoration.
The WHOLE world is changing. Somebody or some well intentioned “group” a long time ago, got away with something very stupid, and unrealistic, called “GLOBALIZATION”. Millions of people all over the world are not happy with what happened to them and are revolting at the ballot boxes around the world.