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|The response of the political right to addressing the trade deficit is: 'there you go again with protectionism, trying to start a trade war.' The smoking gun Powell Memorandum, laid-out the blueprint for corporate protectionism resulting in the middle class getting its clock cleaned as a result of disproportionate tax-cuts and deregulation.
In the book 'Who Stole the American Dream?' Hedrick Smith attributes the Wall Street split from Main Street and the destinies of the Two Americas parting company to wedge economics practiced by corporate America. A primary enabler of wedge economics is public policies going the highest bidders. Powell achieved his desire result, the supremacy of capital market participants, but communist and socialist countries are beating America in the economic Olympics and those most responsible for the class and trade wars continue to deny they are realities.