As someone who would love more production in America, I largely agree but might add a caveat to this. China makes a bunch of cheap crap, and at the same time that is exactly what our society demands. “I want something that does X at the cheapest possible price” is what the average US citizen wants. Roughly 77% live paycheck to paycheck, so them wanting the cheapest price makes sense. They can’t afford quality and China is happy to lower the quality for them.

On the flip side China makes iPhones. People who buy those phones demand top quality, and China delivers there too. China is capable of quality, but most people don’t actually want quality. This sounds counter intuitive to me at first, but at the same time, we elected Trump twice so I think I’m just out of touch with a large group of our country.

If you want the cheapest possible option, which is what the majority demand, China will do that. American made goods are expensive and that isn’t what the majority want or can afford. This is not me saying, “nobody wants quality.” I want quality. I want American made. I will pay the higher price. I just also understand that most people in America don’t actually want that.

No, you can’t go back to Constantinople

The working class and middle class will continue to work and provide value to investors, because they have to. No work means no food, no home, so people will continue to work and investors will still have that value coming from the working and middle class. Their lives will suck, but that’s not a rich person problem. Ideally, for the rich, the working class and middle class will sell off their assets at fire sale prices so that they can survive and the rich will get valuable assets on steep discounts. Homes that foreclose will be bought up and renters will be put in them and the return for investors will be incredible.

Recessions are when rich people get much wealthier in a short period of time. This is deliberate and the rich will be using their money to “invest” while the working and middle class produce more value for investors at their jobs and sell their assets to the investors.

There is no such thing as a recession being bad for the wealthy. The only thing bad for the wealthy is taxes and regulations. Even if their net worth drops, it only drops on paper temporarily and as long as they don’t sell while the value is down it’s like it never happened. If it ever gets really bad that’s when companies are then deemed “too big to fail” and the government bails them out.

It’s intentional and they’re all excited about the recession.