China.....

[HDRider]

In June 1930 Smoot-Hawley doubled average import duties on about two thousand manufactures and agricultural products. Other nations retaliated and world trade plummeted. American exports went from about $5.2 billion in 1929 to $1.7 billion in 1933.

The loss of overseas markets for agricultural goods helped to turn much of the American heartland into a dust bowl.

Many farmers defaulted on their loans, which, in turn, was a factor in leading to a banking panic.

In the early 1930s, U.S. exports totaled about 7 percent of GDP; in 2016, U.S. exports amounted to 12 percent of GDP.

What was the equivalent % of our GDP that was imported that same 'early 1930s period?

Don't know 1930. 1960 was 5%, 2016 was 15%.

Are you suggesting we would be served with less imports? That $1,000 iPhone might cost $2,500. Same effect for most electronics if they were made in the US.

 

[greybeard]

Are you suggesting we would be served with less imports? That $1,000 iPhone might cost $2,500. Same effect for most electronics if they were made in the US.

No, not suggesting anything, but it's called 'trade' for a reason. A 2 way street.

Comparing 1930 exports to 2016 exports is not a meaningful without also knowing how much (or if)
we imported in 1930. (we already are well aware of the trade deficit that has existed in recent decades)


1930 exports: $2,958,509,000
1930 imports: $2,401,838,000
Total trade 1930: $5,360,347,000
GDP in 1930 was $91 billion.

(someone else can do the math)

The following graph is in 'chained' numbers and will be different than the above #s.
https://www.bea.gov/scb/pdf/2012/08%20A ... series.pdf

 

[HDRider]

Are you suggesting we would be served with less imports? That $1,000 iPhone might cost $2,500. Same effect for most electronics if they were made in the US.

No, not suggesting anything, but it's called 'trade' for a reason. A 2 way street.

Comparing 1930 exports to 2016 exports is not a meaningful without also knowing how much (or if)
we imported in 1930. (we already are well aware of the trade deficit that has existed in recent decades)


1930 exports: $2,958,509,000
1930 imports: $2,401,838,000
Total trade 1930: $5,360,347,000
GDP in 1930 was $91 billion.

(someone else can do the math)

The following graph is in 'chained' numbers and will be different than the above #s.
https://www.bea.gov/scb/pdf/2012/08%20A ... series.pdf

Agreed. As I said early on we have allowed China, and other countries to take advantage. Further, I would suggest we did it at the behest of multinational companies so they could open new sales channels, and enhance profits with lower labor costs. America has become a nation ruled by corporate interests.

 

[hurleyjd]

Agreed. As I said early on we have allowed China, and other countries to take advantage. Further, I would suggest we did it at the behest of multinational companies so they could open new sales channels, and enhance profits with lower labor costs. America has become a nation ruled by corporate interests.

BINGO!!!!!

 

[TexasBred]

they won't get the quality in brazil like the US, and thats what they're after.

Brazilian soybean meal will typically contain at least 3% higher crude protein than American bean meal .

Why is that TB? Better soil?

Environmental conditions, differences in varieties and agricultural practices create soybeans with varying qualities. Differences in meal processing conditions such as moisture,temperature and drying time result in soybean meals with different composition and quality parameters. US soybean meal has a better amino acid profile, but amino acids are seldom considered in formulating feed rations or when pricing bean meal.

 

[Bestoutwest]

I do believe Americans can afford to buy quality products. The problem is I believe most Americans value owning 10 cheap products over 5 quality products.

Higher wages come from people being willing to pay more for products. With out one you can't have the other.

You hit the nail on the head. We've been conditioned by Walmart, Amazon, etc to get the lowest prices all the time so we can buy more crap. It's not that we NEED said crap, but we want it. Americans have their need and want button messed up.

 

[TexasBred]

I do believe Americans can afford to buy quality products. The problem is I believe most Americans value owning 10 cheap products over 5 quality products.

Higher wages come from people being willing to pay more for products. With out one you can't have the other.

You hit the nail on the head. We've been conditioned by Walmart, Amazon, etc to get the lowest prices all the time so we can buy more crap. It's not that we NEED said crap, but we want it. Americans have their need and want button messed up.

And when selling we won't top dollar and don't give an inch. ;-)

 

[sim.-ang.king]

It's the end of the world!!!

or maybe not...
https://www.reuters.com/article/us-glob ... HH046?il=0
https://farmweeknow.com/story-wheat-soy ... r-4-174131

 

[ddd75]

Brazilian soybean meal will typically contain at least 3% higher crude protein than American bean meal .

Why is that TB? Better soil?

Environmental conditions, differences in varieties and agricultural practices create soybeans with varying qualities. Differences in meal processing conditions such as moisture,temperature and drying time result in soybean meals with different composition and quality parameters. US soybean meal has a better amino acid profile, but amino acids are seldom considered in formulating feed rations or when pricing bean meal.

i'll never believe progressive farmer again!~

 

[TexasBred]

Why is that TB? Better soil?

Environmental conditions, differences in varieties and agricultural practices create soybeans with varying qualities. Differences in meal processing conditions such as moisture,temperature and drying time result in soybean meals with different composition and quality parameters. US soybean meal has a better amino acid profile, but amino acids are seldom considered in formulating feed rations or when pricing bean meal.

i'll never believe progressive farmer again!~

Good to know. We're all still learning.