US Debt And Globalization

"It was 1917 when the United States had just joined World War I. With demands for military investment growing, the US Treasury Department was in desperate need of money. Without enough of its own, the Treasury Department had to borrow it from someone but was also constitutionally required to receive congressional approval to take on debt and make financial decisions. Rather than oversee every increasingly common request and transaction, Congress figured, 'Hey, let's give the Treasury Department power to oversee their own debt! But we have to limit that so we don't get ourselves in any trouble.' 

"Thus the debt ceiling was born. It was a means to allow the Treasury Department to get money, accrue debt, and invest in everything the government needed to invest in without requiring constant approval from Congress, while still allowing Congress to control the total amount of debt accrued."

Click on the link below for a better understanding of how debt works and how it helps to bind the world together:

Who is the US in Debt to?

Is History Going To Repeat Itself?

Yes, politics is very polarized presently, with those who are globalist and want to cooperate with the rest of the world on one side and with those who are nationalistic and isolationistic on the other. History shows the effects of both of these ideologies. One is very dangerous for us all. Thus, the claims that both sides are the part of the problem we have is not supported by the evidence.

Trump is reviving the policies that once darkened the world

Are Globalization And Robots Going To Take Your Job?

"Far from it. Thanks to rising prosperity and technological innovation, American jobs aren’t disappearing, they’re getting better. As people get wealthier, more of us are getting to do work that we love.

"For centuries, most people have had to grimly soldier on in unfulfilling but necessary work. That’s changing quickly. While technology and trade free Americans from mind-numbing drudgery, prosperity creates markets for all the goods and services that creative people pursuing their passion can dream up. For the first time in history, most people can earn a living doing what they really want to do."

An optimistic view of the future of work:

The End of Work 

(PNG Mart)