President Donald Trump has blamed countries overseas for, “Stealing our jobs,” but in reality, it’s inflation caused by the Federal Reserve that has been causing the loss of American jobs.
Ever since the Federal Reserve began printing money on a massive scale in the 1970s, the American economy has suffered the effects of inflation. This caused American wages to rise, which led to companies moving their jobs overseas to find cheaper labor.
Americans upset about losing their jobs will probably find no relief from President Trump, who recently said he would increase spending on a massive scale for infrastructure and the military. Presumably, these increases would be paid for by printing even more money, which would lead to more inflation, and perhaps even more outsourcing.
Although Donald Trump gave lip service to auditing the Federal Reserve during the campaign, he has made little mention of the FED since taking office. But the ability to print money will likely be too tempting for President Trump to pass up, as it has been for almost all American presidents.
Instead, President Trump has embarked on clueless protectionist policies like tariffs, trade wars and publicly singling out companies to keep American jobs in the country. These “solutions” will only make the pain worse for American families, who will pay the higher prices.
America is not the only nation to inflate it’s money supply, but the effect of the higher prices for wages has led to a mass migration of jobs out of the country, to countries where wages and costs of doing business are lower.
Of course, the Federal Reserve is not the sole reason that jobs are leaving America, but it is one of many. In addition to monetary inflation, there are the costs of state and federal taxes and regulations that cause employers to flee the US.
If President Trump really wanted to bring American jobs back, he would seek to end the Federal Reserve system, and end the trade wars and tariff walls surrounding our country.