I doubt salaries will skyrocket, sure there will be more people being hired to meet domestic demand increasing but I doubt that companies will actually pay more to their employees. And even if they do I can’t imagine that it will be a significant increase when taking into account the inflation that will be caused.
The supply and demand should at least be in favor of blue collar. But there might be a lot of political repression and union busting. Still, there will for sure be some shift in economic power, that will favor unions and the value of labor in general. Exciting times ahead. Similarities with 1920s are overwhelming.
I mean I guess exciting is one way to put it if you find the great depressing exciting. Even if it did lead to FDR and a number of progressive policies it still took around a decade of horrible unemployment and poverty to get to that point.
Yep. Things will only get shittier in the US for as long as they/you don’t reverse the inequality trend. It’s impossible to have a functional democracy with the current gini coefficient. And it’s rapidly getting worse.
At some point, from an evolutionary perspective, it’s probably rational to crave chaos, system collapse or revolution, if you’re at the perceived socioeconomic bottom. Trump 2.0 might have been that point. Democrats didn’t present a credible solution, rather they just demonstrated that they don’t understand much. Just more neoliberal globalist crap, sprinkled with a touch of welfare and identity politics. Then it might be better to just opt for high risk and chaos, and hope you get lucky.
(I know there are good democrats as well, but they’re not in charge.)
Yeah, but the happy times in the 50s to the 70s had one more factor, that the world was recovering from an insanely destructive world war that left the US unscathed, a unique thing at the time.
China was just coming out of a nation-deciding civil war, in addition to the genocide and war with Japan, Japan had Hiroshima and Nagasaki, Europe was in ruins and was gearing up to holding guns to each other’s heads for the next 40 years, and Russia was kinda like it is now.
The tariffs don’t mean that there will be an increase in domestic production. It means manufacturers will seek out a different source for cheap materials. If those happen to be domestic, that’s good. Most likely they will be from some other nation like India.