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Posted on 07/12/2006 8:29:36 PM PDT by hedgetrimmer
China is supposedly hurting for steel and yet doesn't want these steel boxes back?
Last week I was researching to stories about the Texas Corridor. One article spoke of city officials increasing red lights, tying up traffic and generally slowing traffic down so people were forced to use a toll road.
In other words, hopefully officials are not making a mess of Wilmington in order for us to concede to a port in Mexico.
Quite an article. I never imagined we had cities or neighborhoods that port officials dumped containers in their yards.
I read Atlas Shrugged years ago but for some reason your article reminded me of it.
I doubt it. As far as I know when MS sells Windows XP in Europe this is included in trade statistics
When Disney and Pixar ship the master prints of the new movie Cars to their distributor in Japan, they only must declare (on the SED) the value of the film in the cans. That is, a few thousand dollars. They do not have to declare the millions of dollars in expected revenue.
To the extent that the US exports goods that are not shipped on pallets and boxes, but instead are really software and media, or licenses and contracts, the Trade Balance statistic is a totally misleading number.
You may have something there. But if correct, I doubt these entertainment media exports throw off our trade statistics more than 5-10%.
Oceanic traffic in cargo containers seems one way. Circa 1988 (and probably still true now) the air cargo traffic was essentially one way from Japan to our New England States. Logan airport in particular. The NE tuna fisherman were able to very nice rates for air shipping tuna to Japan. Cargo planes were mostly returning empty to Japan/Asia. Sea urchins were also shipped to Japan. Japs love raw sea urchin sushi. It's not bad, I've eaten it too.
We manufacture and export more now than at any other time in our history. Our manufacturing output alone is bigger than every other countries total GDP, except Japan. Given the growth of our incredible economy, we could surpass Japan this year
Will you be honest enough to admit that we import more than we ever have? I doubt it. But that's why we run an 850 billion dollar trade deficit. Not that you care because "free trader" types have an excuse for that too
$500 an hour doesn't get a very good lawyer in the Northeast.
dont worry, all the fruits and vegetables we import from mexico and south america will balance it out.
oh wait a minute......
What are they buying with that paper? Can you say oil, natural resources, etc. driving up the costs for the rest of the world.
Don't you really mean, "I have two messes I took part in cleaned up by lawyers for a lot of money."? :)
Yeah as long as the paper winds up being put into Treasury bonds who cares ?
But in the past year the Chinese have been buying commodities instead of Treasuries, causing global oil prices to go up then buying gold to hedge against the price inflation.
The oil 'leak' puts downward pressure on the dollar even while interest rates go up.
In the USA high gas prices are having an effect low and high. Low wage earners as well as boat manufacturers like Brunswick.
BUMP
Now, if you would just tell us how you intend to fit the bulky things that the US exports (including hundreds of Boeing aircraft) into 40-foot steel containers, we MAY see your point.
If I buy a Japanese made DVD at Circuit City for cash, I've contributed to the current account deficit but no debt has been created. If I buy this DVD player using my Citibank card, I owe Citibank the money but there is still no debt created with Japan. So what are you talking about?
If we produce more in terms of $$, how can you claim we've lost significant chunks?
Only through innovation and productivity gains have we been able to retain the industry we have now.
You make it sound like we barely have any industry. Check this out.
Or this.
Looks like industrial production is up 50% since 1990.
Your IndustryWeek.com link is bad.
This is economics. As long as China doesn't put our dollars in a hole somewhere, or under their mattress, it doesn't matter.
Then perhaps you can explain the chart in post post #77
Will you be honest enough to admit that we import more than we ever have?
This is true and is very good news. The reason is because we're wealthier now than at any other time in our history. Our personal net worth is more than $52 trillion, which is more than double what it was in 1995.
But that's why we run an 850 billion dollar trade deficit
Do we really need to explain to you again why a current account deficit is a good thing? When was the last time we ran a surplus? What was our economy like then? Do you know what a capital account surplus is? Do you understand the balance of payments and why it's equal?
Free traders have no need to make excuses. We understand how the economy works and spend a great deal of our time trying to educate those who don't.
Another point: people who want fine things and want to buy them ONCE for a lifetime don't buy Chinese. There was a time when American goods were built to that standard. Some of our automobiles from that era still grace the roads.
Your post is stuck in the 1950s. It shows no grasp of present reality.
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