"Where goods don't cross borders, soldiers will." Thought to be a Frederic Bastiat (19th Century economist) quote...I can't even begin to tell anyone (wouldn't if I could) whom to vote for. But I can implore everyone to push hard for free trade! You may believe that we --- collectively --- would somehow benefit by imposing measures that might "protect" a particular group or industry, but, frankly, you'd be wrong! If that is indeed your position (and me telling you you're wrong isn't remotely enough to convince you otherwise [of course it's not!]), here's Leonard Read's beautiful I, Pencil and something else from me (from a few years ago) that I hope will disabuse you of that most dangerous misconception:
Friday, July 22, 2016
"What" to vote for!
Recently I shared that I have no affinity for either major party candidate currently running for the U.S. presidency. The displays from both since have done nothing to dissuade that sentiment (probably exacerbated it). Plus, there's virtually nothing that either has credibly presented that I believe would be supportive of the financial markets or the economy at large. On the other hand, alas, there is sacred market/economic ground (international trade) that both candidates seem far too
willing eager to trample all over --- at least rhetorically. In fact, protectionism is not simply unfriendly to markets and our economy, it is inconsistent with true American tradition and threatens our national security as well.