[1]Don't believe
the media hype about tariffs being bad. The US built its economic wealth on a
combination of low immigration and high tariffs. This created a protectionist
environment where a highly advanced society with a plethora of resources could
builds its own wealth and prosperity while protecting its businesses from
foreign competition and interference.
The high
immigration and lower tariffs that have been instituted across the mid 20th
and early 21st centuries have corresponded to the loss of economic
buying power of the average worker's income in America, and we have seen the
same thing happen across the West. Their money, and our money, has become worth
much less as a result.
As tariffs
were removed workers got poorer. Tariffs helped protect local industry and
markets. Low tariffs incentivize offshoring of production, which makes the rich
much richer and the rest of us worse off.
Also, don't
believe the hype that "the markets are down". The markets have been
booming for years, there have been record highs. But are you doing better? On
average, no, because the markets reflect the wealth of the top 1%, not the rest
of us. The wealthy corpocracy have been doing better at our expense. The
markets have almost zero relationship to how life is going for average people.
The wealthy also own the media so they will try to hit you with lies, that we
should oppose this happening here.
This does not
mean that there will be not be initial shocks to the global and local economy.
For sure there will. Getting off heroine shocks the body. But it is good for
you once your body readjusts to not running on poisonous drugs. Free trade and
low tariffs have been like a poison running through our society for some time,
it is going to cause some pain to get it out of our economic system. Plus,
Trump’s tariffs are most likely a starting offer in a negotiation strategy
anyway.
The economy needs to change. The current economic climate is not serving Americans, nor Australians:
[2]The black
line is the per capita recession we are currently in. The coloured lines are
past recessions. The past recessions were effectively economic booms compared
to the current one. Also note that the official figures the government produces
show that our economy is growing, but on a per capita basis Australian’s are
worse off than ever before. Because the figures they release have nothing to
do with how each and every Australian is going, they reflect how the economic
growth is serving the wealthy stake holders, rather than the citizen stake
holders.
Australia has
long been called the 'Lucky Country.' But the thing with luck is that it runs
out. It has run out hard. Things need to change, and tariffs are needed to
strengthen local production again.
Our
government should respond by commending Trump for seeking to rebuild his
industrial base, and by also saying, we will do the same and pour every cent,
every cent, from our own newly minted tariffs directed at countries that are profiting
off us and put them into the local manufacturing industry. Oh, and we should take
the money from foreign aid and do the same with that. Those crooks! Of course,
I don't think we are blessed with clever leaders, so watch them follow the lead
of the EU which is a dying power base.
There are fun
times ahead. The world is changing fast.
List of
References
[1] Michael Read, 2025, https://www.afr.com/policy/economy/trump-tariffs-to-force-rba-to-cut-rates-up-to-four-times-in-2025-20250403-p5lou3
[2] Leith Van Olsen, 2025, https://www.macrobusiness.com.au/2025/04/a-long-recession-for-australian-households/
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