News and comments of current elections and political topics.
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Last question first. No "buy American" is not necessay, in fact it is counter productive, it was buying American that undermined the American auto, and other industries.
My father was called on the carpet by the LA. City Council, when he was L.A.´s head of generation, because he spent millions for a generator from a swiss company instead of G.E. (better product, better price is doing the customers a favor). He did not mention this, at the hearing, as it was already documented in his deposition. He simply said, I assume you read all that is necessary to answer your question in my deposition, but I do have something to add. He reached in his pocket, and pulled out a ball point. It says "Merry Christmas from G.E." on the other side, it says made in China. There were no further questions.
Where did my thinking go wrong? Raising the price of imported steel raises the cost of American manufacturing. They either have to buy more expensive American steel or the higher price of imported steel. But products manufactured in, say, China do not have to raise their prices. American made products are more expensive. "Buy American' anyway?
A 24,000 market amounts to about $7 trillion. A 26,000 market amounts to about $7.5 trillion. That's about $500 billion change. Where did this money come from to raise the market? Where did it go when profits were taken?