I have seen a lot of know-it-all democrat voters posting in the last few days about how Trump's economic strategy is bound to fail and those who voted for him for economic reasons are fools. Obviously I am extremely sceptical of these people, as economic literacy has never been a strong point of progressives (not to mention how they are all suddenly experts, like how they were for virus propagation, climate change, etc.).
Nonetheless, I myself am no economist. Can somebody with a better understanding explain the strategy to me, and also any potential ways in which it COULD backfire in the way progressives are suggesting?
Never forget that the US lost some billion dollars in food industry thanks to British Petroleum causing a spill in our waters causing tens of thousands of jobs to be lost instantly and a huge source of food gone for decades. And they got off with a fine that was 'promised' to go to those effected, but ended up being given to "Clean Water" programs and the Federal Government instead.
Which is why a huge amount of certain seafoods now are imported from farms in China to meet quotas, instead of bought directly from American families who are all still out of work.
Point is, its not just the low skill foreigners destroying American production.
I found it suspicious that BP immediately went on a public relations/damage control blitz all over cable TV, instead of using that money to just clean the spill up.
They claim to have spent almost 20 billion with a b dollars after it was all done in damages. I know hundreds of guys who lost their jobs, generation spanning career and eventually everything that depended on that income who never saw a dime.
They literally paid the Feds apology money, paid for a bunch of photo ops of ducks getting cleaned off, and then just went about their business.