Posted on 10/02/2007 1:16:48 PM PDT by LM_Guy
He’s on CBNC right now.
IF the Commerce Bank sale is allowed by regulators, the state of NJ will never again vote a Republican into national office. The Hill and Norcross families will go from multi multi millionaires to billionaires, and their iron fist over the state Democrat apparatus will become institutionalized.
It’s a bad situation.
So this is about corruption you say.
"There's a difference between the Japanese buying those assets then . . . ." Oh, yeah? So the Japanese were harmless? Now? Or then?
He’s better at moving goalposts than he is at economics.
Well actually yes & no, it has been going on since the 70s and has never stopped. The problem is it is getting worse with entire segments of our economy becoming foreign owned and controlled.
Some Stats:
Industry Percentage Foreign Owned Sound recording industries 97% Commodity contracts dealing and brokerage 79% Motion picture and sound recording industries 75% Metal ore mining 65% Motion picture and video industries 64%
Wineries and distilleries 64% Database, directory, and other publishers 63% Book publishers 63% Cement, concrete, lime, and gypsum product 62% Engine, turbine and power transmission equipment 57%
Rubber product 53% Nonmetallic mineral product manufacturing 53% Plastics and rubber products manufacturing 52% Plastics product 51% Other insurance related activities 51%
Boiler, tank, and shipping container 50% Glass and glass product 48% Coal mining 48% Sugar and confectionery product 48% Nonmetallic mineral mining and quarrying 47%
Advertising and related services 41% Pharmaceutical and medicine 40% Clay, refractory, and other nonmetallic mineral products 40% Securities brokerage 38% Other general purpose machinery 37%
Audio and video equipment mfg and reproducing magnetic and optical media 36% Support activities for mining 36% Soap, cleaning compound, and toilet preparation 32% Chemical manufacturing 30% Industrial machinery 30%
Securities, commodity contracts, and other financial investments and related activities 30% Other food 29% Motor vehicles and parts 29% Machinery manufacturing 28% Other electrical equipment and component 28%
Securities and commodity exchanges and other financial investment activities 27% Architectural, engineering, and related services 26% Credit card issuing and other consumer credit 26% Petroleum refineries (including integrated) 25% Navigational, measuring, electromedical, and control instruments 25%
Petroleum and coal products manufacturing 25% Transportation equipment manufacturing 25% Commercial and service industry machinery 25% Basic chemical 24% Investment banking and securities dealing 24%
Semiconductor and other electronic component 23% Paint, coating, and adhesive. 22% Printing and related support activities 21% Chemical product and preparation 20% Iron, steel mills, and steel products 20%
Agriculture, construction, and mining machinery 20% Publishing industries 20% Medical equipment and supplies 20%
the euro zone may face deflation just like the yen. They may need to print more money or risk recession.
They buy 800 companies worth $257 billion, and you say they are acquiring control over our future? Believe me, we bought a lot of their companies as well.
That’s OK, I am buying Chinese companies. They are increasing 10% on a daily basis.
This happened extensively in Argentina after the collapse of their currency a few years ago.
I know of two companies that were bought by foreigners this year. One was in a get bought or die situation, and the only companies interested in buying them were foreigners (the Italians eventually backed out so the Canadians won). The other has since ended all off shoring of labor. Of course the plural of anecdote isn’t fact, but it does show this is a slightly more complicated situation than most people are saying.
Yep
The circles represent the size of each area's financial assets. The arrows represent the size of each region's international holdings. You'll notice that the US dominates every other region by far. I'll bet we're doing a much better job of buying their top companies, and the best new technologies, than they are of ours. This map is from 2004 but I don't doubt that it's only increased in our favor since then.
I would like to know the rate of buyouts. Obviously we have more assets. But with a falling dollar, foreigners are on a shopping spree and it is much harder for us to buy their stuff.
Shares of Toronto Dominion Bank lost 5% of their value today -- the company's largest decline in nearly five years. Maybe this isn't such a great deal for them after all, eh?
U.S. Net International Investment Position at Yearend 2006 The U.S. net international investment position at yearend 2006 was -$2,539.6 billion (preliminary), as the value of foreign investments in the United States continued to exceed the value of U.S. investments abroad (table 1). At yearend 2005, the U.S. net international investment position was -$2,238.4 billion (revised). The U.S. net international investment position includes newly introduced comprehensive estimates of U.S. cross-border transactions and positions in financial derivatives (see box 1).
The -$301.3 billion change in the U.S. net investment position from yearend 2005 to yearend 2006 was largely due to especially strong net foreign purchases of U.S. securities. The impact of these net purchases was partly offset by price appreciation of U.S.-held foreign stocks that surpassed by a large amount price appreciation of foreign-held U.S. stocks, and by exchange- rate changes resulting from the appreciation of most major foreign currencies against the U.S. dollar, which raised the dollar value of U.S.-owned assets abroad.
[ ... ]
U.S.-owned assets abroad increased $2,178.7 billion to $13,755.0 billion.
U.S. holdings of foreign securities increased $1,086.4 billion to $5,432.3 billion. Holdings of foreign stocks increased as a result of large price appreciation, foreign-currency appreciation, and net U.S. purchases. Holdings of foreign bonds increased mostly as a result of net U.S. purchases.
The stock of U.S. direct investment abroad at current cost increased $320.4 billion to $2,855.6 billion, mostly as a result of net financial flows (see box 2).
Claims on foreigners reported by U.S. banks increased $583.4 billion to $3,089.0 billion.
Claims on unaffiliated foreigners reported by U.S. nonbanking concerns increased $114.4 billion to $848.5 billion.
U.S. holdings of financial derivatives with positive fair value increased $47.5 billion to $1,237.6 billion.
U.S. official reserve assets increased $31.8 billion to $219.9 billion.
Foreign-owned assets in the United States increased $2,479.9 billion to $16,294.6 billion.
Foreign official assets in the United States increased $463.9 billion to $2,770.2 billion. Net foreign purchases of U.S. Government securities accounted for most of the increase.
Foreign private holdings of U.S. securities other than U.S. Treasury securities increased $875.5 billion to $5,228.5 billion. Foreign holdings of U.S. bonds increased mostly as a result of strong net foreign purchases. Foreign holdings of U.S. stocks increased as a result of price appreciation and net foreign purchases.
U.S. liabilities to private foreigners and international financial institutions reported by U.S. banks increased $717.3 billion to $3,319.0 billion.
The stock of foreign direct investment in the United States at current cost increased $231.2 billion to $2,099.4 billion, mostly as a result of net financial flows (see box 2).
Liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns increased $182.5 billion to $740.4 billion.
U.S. holdings of financial derivatives with negative fair value increased $46.5 billion to $1,178.6 billion.
U.S. currency held by foreigners increased $12.6 billion to $364.3 billion.
Foreign private holdings of U.S. Treasury securities decreased $49.6 billion to $594.2 billion, mostly as a result of net foreign sales.
[ ... ]
The Japanese government also puts out the same type of report. From the summary at Japan's International Investment Position at Year-End 2006:
I. Summary
Japan's international investment position (IIP) recorded a net asset position, the outstanding amount of external financial assets of residents in Japan minus the outstanding amount of external financial liabilities of residents in Japan, of 215.1 trillion yen at year-end 2006.
This represents an increase of 34.4 trillion yen or 19.0 percent from the previous year-end, and marks a new record high since year-end 2004.
Comparison with other major countries indicates that Japan has been the country with the largest net asset position for the 16th consecutive year since year-end 1991.
[ ... ]
Wait till Citicorp plummets after announcing its earnings. When the Saud family buys the rest of it, the whining on this board will be deafening.
Cool chart. Thanks.
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