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I look at his as a reminder of all of the benefits of globalization, which are now being taken away because we can't ship things. We've enjoyed cheap imports a
by nostrademons 5y ago
I look at his as a reminder of all of the benefits of globalization, which are now being taken away because we can't ship things. We've enjoyed cheap imports and lower prices for decades because we can make goods cheaply abroad. Goods are about to get much, much more expensive, and it's already started. I'm not sure that once people see the results of an on-shore economy, they'll think it's an improvement.
Note that the 1950s utopia that many want to go back to wasn't a domestic economy, it was a globalized economy where we were the only industrialized nation left standing. Truly domestic economies are more like the 1930s and 1970s. The issue with the non-globalized regions of the U.S. isn't that their economies fell abruptly in the 90s, it's that they never really recovered from the 1970s, while the coastal metropolises have moved on with gleaming capital infusions from abroad.