The problem is you cannot have free global trade with highly restrictive, regulated domestic markets.

Technology is also damping upward price pressures through its effect on international trade,

I stated that I'm a libertarian Republican, which means I believe in a series of issues, such as smaller government, constraint on budget deficits, free markets, globalization, and a whole series of other things, including welfare reform.

Increased jobs are the consequence of increased trade. Increasing jobs more than output implies a fall in productivity and standards of living. That surely cannot be our goal.

There do appear to be, at a minimum, signs of froth in some local markets,

Derivative instruments were bystanders, ... They may well have intensified the losses in underlying markets, but they were scarcely the major players.