Trump's only economic adviser with a PHd is Peter Navarro. He's the go to guy helping guide what could be U.S. next trade policy under Trump.
A funny thing happened the other night, PBS Newshour's economic reporter Paul Solman completely obliterates Navarro's doom and gloom opinion of our current trade policy...with his smart phone. Would I kid you?
After making Navarro's plan look ridiculous, Solman went on to expose Trump's own outsourcing deal that'll take your breath away:
PETER NAVARRO: This is the big kahuna. This is what Donald Trump understands. This is the trade deficit. We run a trade deficit of close to $800 billion a year. And so this directly subtracts from this. This is why we’re stuck in low-growth mode.
PAUL SOLMAN: Well, maybe. The job of a journalist, however, is to ask questions.What is U.S. GDP 2016?
SIRI: Checking on that.
PAUL SOLMAN: Happily, there’s now Siri to answer them.
SIRI: It looks like the answer is about 18.2 trillion U.S. dollars per year.
PAUL SOLMAN: Thank you, Siri. In that case, GDP is something like $18 trillion, right? And you’re saying that the trade deficit is — well, it’s less than $1 trillion, right? So, this can’t be a major factor in total GDP, the size of the economy.
PETER NAVARRO: Yes, but when we run these big trade deficits and send our jobs offshore, we hold our wages down and our income down. That feeds right back into the biggest part of this whole equation, consumption. This drags GDP down as well.
PAUL SOLMAN: Or so this story goes.
But we can't ignore the Republican efforts to lower wages for manufacturing jobs with right-to-work and union busting via ACT 10:
Wisconsin Manufacturing Wages Declining: Citizen Action of Wisconsin looked at thelatest federal data, and found a startling decline in manufacturing wages in every Wisconsin metro area.
Real wages (adjusted for inflation) are going down for manufacturing workers in every Wisconsin metro area. On average, annual wages declined $1,430 between 2010 and 2015 - Source: Bureau of Labor Statistics.