Victor Davis Hanson

during the Reagan period when EU agricultural produce was subsidized and dumped in this country. And we were told that that was good for us because it would make us more efficient. And that's the third fallacy.

during the Reagan period when EU agricultural produce was subsidized and dumped in this country. And we were told that that was good for us because it would make us more efficient. And that's the third fallacy.

They say, well, if you allow foreign stuff to come in without a tariff, even though it's being produced at below the cost of production, then you're going to have to compete with it and that'll make you lean and mean. But there's only a certain point where you can compete when you're losing money.

They say, well, if you allow foreign stuff to come in without a tariff, even though it's being produced at below the cost of production, then you're going to have to compete with it and that'll make you lean and mean. But there's only a certain point where you can compete when you're losing money.

So it's a deliberate policy that, and I'm speaking as a conservative, but a lot of the libertarians believe that even the most abusive tariff, asymmetrical tariffs are in the interest of the target almost as if, you know, get with it or get over it. And it's destroyed the interior of the United States.

So it's a deliberate policy that, and I'm speaking as a conservative, but a lot of the libertarians believe that even the most abusive tariff, asymmetrical tariffs are in the interest of the target almost as if, you know, get with it or get over it. And it's destroyed the interior of the United States.

There had been a view— In the 1960s and 70s and 80s, as we remember, in 1945, there was no China as an industrial power. Russia was destroyed. Europe was completely leveled, to speak, and Japan was destroyed. So we were providing about 85% of the washers, the dryers, even the vehicles, the planes,

There had been a view— In the 1960s and 70s and 80s, as we remember, in 1945, there was no China as an industrial power. Russia was destroyed. Europe was completely leveled, to speak, and Japan was destroyed. So we were providing about 85% of the washers, the dryers, even the vehicles, the planes,

And that started to end as we subsidized the rebirth of these once powerhouses by letting them send their products in here without a tariff, either in the case of our allies... that we owed it to them and they would get back on their feet and they wouldn't turn communist. Or in the case of places like China, they would be liberal.

And that started to end as we subsidized the rebirth of these once powerhouses by letting them send their products in here without a tariff, either in the case of our allies... that we owed it to them and they would get back on their feet and they wouldn't turn communist. Or in the case of places like China, they would be liberal.

The more affluent they got, affluence was the twin supposedly of consensual government, which didn't turn out to be true. So we were losing the Rust Belt in the 70s. And then what happened was, I think part of it was during the Reagan administration and the George H.W. and the Bill Clinton, there was this idea that finance was more important than assembly, global finance.

The more affluent they got, affluence was the twin supposedly of consensual government, which didn't turn out to be true. So we were losing the Rust Belt in the 70s. And then what happened was, I think part of it was during the Reagan administration and the George H.W. and the Bill Clinton, there was this idea that finance was more important than assembly, global finance.

So why this was, the trade was destroying manufacturing and assembly in the middle classes. Then the service classes, and I'm talking about insurance and law and media and academia and and all sorts of investment we were pretty good at. And now we had under globalization, not a 300 million person market at the time, but 6 billion.

So why this was, the trade was destroying manufacturing and assembly in the middle classes. Then the service classes, and I'm talking about insurance and law and media and academia and and all sorts of investment we were pretty good at. And now we had under globalization, not a 300 million person market at the time, but 6 billion.

And so these areas, anybody who could have a product that was globalized, and that was mostly in these areas, made out like bandits and they sold it to the middle class by saying, well, you have 401ks. That's right.

And so these areas, anybody who could have a product that was globalized, and that was mostly in these areas, made out like bandits and they sold it to the middle class by saying, well, you have 401ks. That's right.

So maybe you're not making what you want, but you've got all this investment now because, and the high tech as well, you know, we're selling a billion Apple computers or iPhones, and this is all good for you. But the problem was if you had muscular labor, that could be outsourced or offshored, and it was, then it was.

So maybe you're not making what you want, but you've got all this investment now because, and the high tech as well, you know, we're selling a billion Apple computers or iPhones, and this is all good for you. But the problem was if you had muscular labor, that could be outsourced or offshored, and it was, then it was.

So they said, well, we're gonna provide people with high-tech communication devices, social media services, financial services, law services, academia, all that stuff. But the muscles of the United States will be over with, and that's kind of passe. So even in the case of agriculture, millions of acres were being farmed in Latin America and Asia, and industries were offshore and outsourced.

So they said, well, we're gonna provide people with high-tech communication devices, social media services, financial services, law services, academia, all that stuff. But the muscles of the United States will be over with, and that's kind of passe. So even in the case of agriculture, millions of acres were being farmed in Latin America and Asia, and industries were offshore and outsourced.