JD, The pendulum swings and the consequences are often a surprise. We have seen major changes in our lifetimes due to subtle and slow adjustments, that I don't think our leaders envisioned or understood.
Here are some examples. Back in the '50's the unions were very strong. Every night on the news some company was on strike. The unions overplayed their hand, and companies started going off shore. Companies convinced govt. to lower trade barriers. The trend continued and the companies overplayed their hand. 65,000 factories closed in America. Union membership is at very low levels, but the companies also lost millions of potential customers due to income level reductions.
Everybody lost. Sure t-shirts are cheaper and electronics are almost free, but although the factories are gone, the people are still here. The people that used to work in those little small town factories have no real option. There are no jobs in the cities for their skills and they don't have the money to pick and move if they could. And the products those companies now make offshore? Well there are many fewer hefty manufacturing paychecks in America to buy that imported stuff they ship back to home with American brand names.
One consequence is pretty obvious, everyone's taxes are higher, and our standard of living is stagnant(at best) , or maybe declining a little.
I have traveled the world for business and frankly I think the leaders of other nations are more careful to consider the long term consequences of the subtle changes they approve.
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