The vid is here:
He says the way to increase the productive capacity of the USA is to stop having the Chinese slaves do the work for US comapnies [who then bring it here to put on a finishing touch and mark it up], and have good ole American laborers laboring instead.
Isn’t this a big mistake? If the US company finds it cheaper to do it in China, isn’t it best to do it there? Is that not the theory of comparative advantage at work?
The Peter Schiff videos have a completely different, more complicated plan. First raise interest rates [meaning let them rise if they want to] so that it will pay to save money here [which will be used to invest in companies]. Also cut taxes and drop regulations so it pays to run a business here. Finally cut govt spending, so there is capital for the private sector to use, instead of having it sucked up by the govt.
Any info on this appreciated.