John Greenwood and Steve H. Hanke have written (Wall Street Journal, June 5, 2019) what may be the definitive refutation of Modern Monetary Theory . MMT, the two authors explain, holds that “fiscal deficits don’t matter as long as countries borrow in their own currencies and inflation stays in check.” MMT is currently being promoted […]
US capital investment hit by Trump’s trade warring
Trade correspondent L.C. reports: President Trump has liberated the US from President Obama’s regulatory damage to the economy only to replace it with his own no less harmful trade damage. Over a year ago, Founders Broadsheet warned that the administration’s tactics would harm the US, and our concerns are now unfortunately coming to be validated. […]
Positive outlook for China, Japan trade talks; USMCA stalled
Trade correspondent L.C. reports: President Trump is moving to wrap up trade talks with Japan and China and to get Congressional ratification of the USMCA. The trade talks are moving toward possible conclusion by the end of the year, but the USMCA is running into opposition from trade unions and Democratic legislators in the House. […]
US trade policies hurting farmers, driving allies closer to China
Trade correspondent L.C. reports: The Trump administration’s trade policies are facing serious threats worldwide. One of the president’s first acts in office was to exit the twelve-country Transpacific Partnership (TPP-12) negotiated by the previous administration. Japan, however, kept the free-trade-oriented pact alive minus the US, and now the American cows are coming home, literally (see […]
Strategic materials war with China, US free trade negotiations with allies
Trade correspondent L.C. reports: The White House formally notified Congress on October 16th that it intends to begin free trade negotiations with three important allied trading partners: Japan, the EU, and the UK. Allied solidarity is crucial as China rushes to lock up strategic raw materials worldwide while resisting US efforts to reform its state-dominated […]
