Editor’s Note: An article from Palladium magazine by Marc Fasteau and Ian Fletcher, read by the latter on the following podcasts. America’s resurgent interest in industrial policy will go nowhere without rigorous economic foundations. Anchor Pocket Casts Radio Public Spotify
Editors note: Ken Austin, a former treasury official, explains the intricacies of capital flows, exchange rates, and the trade deficit. Blame U.S. Policies – Starting With Tax Laws By Ken Austin For over 15 years, the United States has been locked in an escalating and seemingly endless trade war with political allies and adversaries. The…
By Steven L. Byers, PhD and Jeff Ferry With the introduction of the Baldwin-Hawley bill (S 2359) into the US Senate, capital flow management tools are once again an important issue. The bill, entitled the Competitive Dollar for Jobs and Prosperity Act, envisages using a Market Access Charge on foreign purchases of US financial assets…
By John R. Hansen, CPA Advisory Board Executive Summary America’s trade deficits, which are caused primarily by America’s overvalued dollar, are eroding the American Dream of sustainably growing and equitably shared prosperity for all. By making American goods too expensive to compete with foreign goods in domestic and export markets, the overvalued dollar kills jobs,…
By Steven L. Byers, PhD U.S. Senators Tammy Baldwin (D-WI) and Josh Hawley (R-MO) recently introduced a bipartisan bill (Senate Bill S.2357) to realign the US dollar exchange rate to make U.S. exports more competitive, boost American manufacturers and farmers, and reduce our trade deficit. The Competitive Dollar for Jobs and Prosperity Act would manage the U.S…
Editors’ note: This is an important and clear article by respected journalist Matthew Klein supporting the Baldwin/Hawley Competitive Dollar for Jobs and Prosperity Act. However, CPA does not want to “forget tariffs” because they are essential to address trade cheating, to conduct industrial policy to improve the composition of trade, and to address bad actor…
Editors note: Conservative opinion leaders are starting to focus on the need for a competitive dollar. Senator Josh Hawley (R-Mo.) has wasted very little time in becoming one of the most important senators in this new freshman class. [Rachel Bovard | August 3, 2019 | American Greatness] From introducing provocative legislation to go after Big…
Editors note: Professor Michael Pettis wrote the book called “The Great Rebalancing” and is a core expert on global trade and balances. He is supportive of the Competitive Dollar for Jobs and Prosperity Act recently introduced by senators Baldwin and Hawley. A bipartisan bill that would create a trade-balancing exchange rate for the dollar also aims to reduce…
Editor’s note: Important for financial press (and others) to understand this. Excerpt: “By purchasing fewer U.S. government bonds… Beijing would leave the United States either unchanged or better off, while doing so would also leave China either unchanged or worse off.” Note: This is a follow-up to an article here from May 16 and an updated version of…
Editor’s note. This four year old article by Jared Bernstein, former Chief Economist for former VP Joe Biden is an excellent explanation of why and how the US dollar value has a major influence on our trade deficit. CPA has the solution, a market access charge to moderate incoming capital flows and push the dollar down to…
