The New American Nationalism Begins

With “Day One,” which is how Trump characterized his first full working day in office American Nationalism takes front and center. The question is, is this a good or bad move for the United States economy. How Wall Street reacts might be a preliminary sign of the long-range effects of the new American Nationalism.

When I say, Wall Street, not just the overall up or down at closing, but how Trumps second executive order to pull out of the Trans-Pacific Partnership trade pact (TTP), along with his desire to renegotiate NAFTA effects individual stock categories.

Some things to consider: For the most part well-paying manufacturing jobs are a thing of the past. Even if manufacturing returns to the U.S. will companies hire more workers or find more ways to automate to increase profits? If they choose the latter, returning manufacturing to the U.S. will not create that many new, high-paying jobs. Another thing to consider is that high-tech is global with various players throughout the world combining to create technologically driven products. Now admittedly, the TPP had not yet passed Congress so it may be hard to judge what those effects may be. On the other hand, many corporations (many of which were based here in the U.S.) had started putting things into place to take advantage of TTP.

Lastly, when Ford announced that it was not going to build a plant in Mexico it sent the Mexican currency on a roller-coaster ride. One has to consider then, what a renegotiated NAFTA would do the stability of Mexico, and how an unstable Mexico would effect the U.S.?

There’s certainly more to consider in this new age of American Nationalism. As it plays out we will see whether or not it makes America “great again.”

frank

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1 Comment
frank

[Comments from the original post on the old “Thinking Out Loud” website]

David Glick says:
January 23, 2017 at 2:24 pm

Putting your country first can only be good. Bringing back jobs, prosperity, pride are all positives.
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frank says:
January 25, 2017 at 3:33 pm

David, I just wonder if we will be bringing jobs, at least ones that are high-paying, or if by bringing manufacturing back to the U.S. we will not be encouraging more robotic manufacturing at the expense of creating new jobs? After all businesses are driven by profit, not how many people they employ. I also wonder if Americans are as a whole equipped with the necessary skills to tackle the new types of jobs that manufacturing technology is creating?

Don Douds says:
January 23, 2017 at 4:03 pm

I find it interesting that the primary concern is for the effect on the global economy or other nations. However, it was the globalist movement that resulted in our current predicament in the first place. Also as a populist and national movement the concerns of those in the world (other than key allies who promote FAIR trade and contribute to mutual defense pacts) are moot. The focus is naturally on the US itself and it’s prople. We are already an economic juggernaut. The problem is that the mass majority of the population are not reaping the words of that economy. Is this the answer? I honestly do not know. I can certainly tell you that it sure as heck beats doing the same thing and expecting a different result.
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frank says:
January 25, 2017 at 3:30 pm

Don, the question I have is can we create the needed economy without a global movement. I am not as concerned about the effect on other nation’s economies, expect for how it might effect our economy. I think that is still open to question. I also wonder that if we do bring jobs back to the U.S. (which would be good) will our pulling out TTP or changing the terms of NAFTA hinder our ability to sell these newly manufactured products outside of the U.S.? Will this begin new global trade wars with high tariffs? In addition, the assumption is that bringing back manufacturing to the U.S. (that seems to be the major thrust of the talk) will create new jobs. I have three (there’s probably more) with this: 1. Will not the U.S. manufactures move even quicker to robotics to maximize profits, thus creating jobs for robots, not humans? 2. The jobs that I see coming to manufacturing are going to be highly skilled jobs. Those folk unemployed or underemployed more often than not do not have the necessary skills for the new tech-driven economy. Thus, they won’t be benefiting from these new high-paying jobs. 3. Many of those who voted for Trump based on his platform of returning “good paying” jobs to the U.S. were union members. With the anti-union sentiment at the forefront, even if these folk are re-employed, or continue in their manufacturing job, they are not going to see the high pay of union jobs. Frankly, I do not see this sort of movement helping Americans reap the benefits of a robust economy. The benefits will still be flowing to corporations and the rich. Let’s face it, the global economy is a juggernaut that has been set loose and will not be reigned in by whatever we do unless we absolutely seal off our borders to everything, including foreign investment. If Trump’s version of Nationalism, nor the current global economy with trade pacts, offshore manufacturing, etc., is not bringing economic benefits to the average America, then we need to start looking for new economic models other than these models. I have no idea what they might be, but personally, I think we are going to die as an economic powerhouse otherwise.

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