Remember that? Barack Obama blamed the automated teller machine for the rise of unemployment. His argument was that technology had displaced people. More banks were putting in ATM machines in place of actual people and therefore the rise of technology caused a decline in human jobs.
It was actually a ridiculous argument at the time because at the time it was made the number of tellers in the country was on the rise. It was also ridiculous because it ignores economic mobility and the logical consequences of his argument was to destroy the machines and put people back in charge, thereby increasing prices and inefficiency.
Republicans across American ridiculed the President. Talk radio savaged him for it.
And today, Republicans are seal clapping the exact same arguments Barack Obama made because Donald Trump is now making them.
Our politicians have aggressively pursued a policy of globalization – moving our jobs, our wealth and our factories to Mexico and overseas.
It is worth noting, in this line alone, Donald Trump ignores that his hats, ties, and shirts are made in Asia because it lowers the cost to American consumers.
This wave of globalization has wiped out our middle class.
Actually, increased trade with other countries has caused markedly lower prices for the middle class and allowed more upward mobility. The economic plan put forward by Donald Trump is actually a leftwing plan supported by the same major American unions that have turned Detroit into a third world hell hole.
It was Bill Clinton who signed NAFTA in 1993, and Hillary Clinton who supported it.
Actually, George H. W. Bush signed NAFTA and Bill Clinton supported it and pushed it through congress. At the time there was bipartisan recognition that free trade is good.
In fact, that is the major canard of Trump’s speech. Free trade is not globalization. We are not surrendering American sovereignty, but rather lowering prices for American consumers.
Donald Trump’s protectionist plan would wreck the American economy and plunge us further into recession. His speech was as nonsensical as Barack Obama blaming ATM’s for unemployment.