Wednesday, March 20, 2019

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The Auto Pact

Supposedly a trade pact that blew up on the Americans, it is actually a function of monetary policy, or was until Brian Mulroney pegged the Canadian dollar artificially high and caused an exodus of auto manufacturing to Ohio and anywhere else in the U.S. and Mexico where the incest rate is abnormally high and wages are low. The Auto Pact still exists, mainly as a tribute to the power of inertia.

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