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Michael Francis Moore born April 23, is an American documentary filmmaker, author, and activist. His works frequently address the topics of globalization and capitalism. Moore's written and cinematic works criticize topics such as globalization , large corporations , assault weapon ownership , Presidents Bill Clinton , [6] George W. In , Time named Moore one of the world's most influential people. His uncle LaVerne was one of the founders of the United Automobile Workers labor union and participated in the Flint sit-down strike.

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Donald Trump has tried very hard to make this election about his pre-pandemic economic record, which is supposed to be a success story. Of course, he ignores the fact the cyclical upswing of the economy started during the last Obama years. But Capitalism And The American Worker Trump tries to trumpet is his approach to trade with China. He claims his tariffs and remarkable negotiating skills have brought hundreds of thousands of jobs back to the United States. The tariffs did succeed in reducing the trade deficit with China in Still, the overall U. The trade deficit with China also has risen amid the pandemic and is back to where it was at the start of the Trump administration. Another goal reassuring of U. Job growth in manufacturing started to slow in Julyand manufacturing production peaked in December Trade Representative Robert Lighthizer said in an interview, citing statistics that show a net link ofU.

However, about 75 percent of the increase in manufacturing jobs occurred before the first tranche of tariffs took https://amazonia.fiocruz.br/scdp/blog/story-in-italian/it-project-management-vs-construction-project-management.php against China in July With annual growth in manufacturing, jobs peaked and then began to decline.

By early even before the pandemic reached the U. Well, now joining us to help answer that question is Michael Hudson. Thanks very much for joining us, Michael. Wokrer reason is that to become an industrial economy, you have to lower the cost of living and lower the cost of doing business. But the economy has become more here more financialized and polarized.

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You mentioned the pandemic. Health care now absorbs 18 percent of the GDP. You have regular taxes, anywhere from about 20 percent. You have mortgage debt that is up to about percent of average income.

S government is willing to guarantee when bankers make a loan. You have other loans; you have student debt to pay Americxn an education in order to get a job, you have automobile debt to get to the job. Credit card debts have been stable. As people are falling further and more into arrears, their interest rate jumps from about 18 percent to 29 percent or more.

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So the same amount of debt now absorbs a much larger see more of your income. So the fact is that the United States has made itself uncompetitive because of this idea that, well, if one wants to get rich and the way to get rich is to go further and further into debt to buy houses that are rising in price. But as houses rise in price, then you have to pay more and more Capitalism And The American Worker service or more and more rents to the people who buy the same houses on debt. The result is that America is priced out of the market. Well, this is what Ricardo talked about in his free-trade theory way back in He said that industrial capitalism was not going to be able to take off in England if British workers had to pay rising rents as food prices rose behind the agricultural tariffs that England had.]