Posted on 09/11/2009 7:17:37 PM PDT by Orange1998
President Barack Obama on Friday slapped punitive tariffs on all car and light truck tires entering the United States from China in a decision that could anger the strategically important Asian powerhouse but placate union supporters important to his health care push at home.
Obama had until Sept. 17 -- next week -- to accept, reject or modify a U.S. International Trade Commission ruling that a rising tide of Chinese tires into the U.S. hurts American producers. A powerful union, United Steelworkers, blames the increase for the loss of thousands of American jobs.
(Excerpt) Read more at finance.yahoo.com ...
Oh this is gonna work out real nice.
Absolute idiocy.
Good. We should look out for our own. Who cares if we can borrow money to buy more Chinese money to by things we don’t make here with money we don’t have.
And they're the only ones who could call in their markers and bankrupt the country.
It's clear to me that he is bound and determined to destroy this nation before his first term ends!
The tariff is steep and the Unions get their way.
Oh, goody—yeah, let’s start a trade war in the middle of a recession! What a great idea! Hawley-Smoot all over again! Wheeeee!!!!
But of course!
He REALLY should slap tariffs on MOshell’s ‘tires’.
First thing Wee-wee’s done I agree with.
Let the trade war begin.
We are past the bell curve on that thought. China has us by the short hair.
The dollar is at an all time low, inflation is at an all time high and Obama wants to tariff China? Obama is a buffoon extraordinaire.
Israel.
And how long before China calls in our loans???
Smoot Hawley anyone? Second shoe incoming.....
The biggest problem is I need two new front tires.
Second shoe:
HALT ALL CHINESE IMPORTS.
Just do it. Now.
Having been signatory to labor contracts for ovewr 40 years I do my best to never buy anything that is union made!
No Free Trade for thee ... the Obamaloonatic hath spoken ...
Well, it will take some time before the tariffs kick in … go for it. LOL!
Yeah, that’ll show them! We’ll completely crash our economy, drive unemployment beyond 30%, and THEN where will they be? They’ll have to sell their tires to the rest of the world... HAH!
I suppose for a follow-up act we could commit mass suicide and really teach them a lesson...
You forget that this is how the recession of 1929 that became the Great Depression began.
What an ass clown. This idiot does not understand one thing. Either that, or he is intentionally trying to push us into a depression.
Should be interesting next week. Don’t hold any dollar postions and sell Tyson Chicken.
Smoot-Hawley redux!
The Great Depression began with protectionist tariffs during a recession. However, China can’t really respond in kind because the import very little for public consumption.
Open your eyes.
We’re already destroying our economy, by sending everything of value; our jobs, our knowledge, our factories, and 200 years of national treasure.
To China.
Well. So stop. At the current rate we’re heading for oblivion anyway. Might as well take a stand.
BUY AMERICAN.
Outsourcing = treason.
Exactly.
WE are the ones doing all the importing.
So. Stop.
The great trade war begins.
" Israel."
You are correct. And Honduras.
Bozo plus One!!!
Soaring Chinese imports of American chicken meat already have been mentioned by Chinese state media as a possible target. Beijing also could sell some of its extensive holdings of U.S. Treasury debt, which could unsettle markets.
Hmmm...will China target imports of American chicken meat or will they dump more U.S. Treasury debt which could "unsettle markets" just a wee bit....?
Totus is really playing with fire here. He knows damn well it won't be just chicken...
First ... Increase SPENDING
Second .. RAISE TAXES
Third ... Impose TARIFFS
Stir together and what do you get?? DEPRESSION!!
Hmpf...well I’d be willing to pay MORE for Chinese tires then, just to spite the Obommunist and the unions...
Instead of selling them the fish we taught them how to fish. The genie is out of the bottle.
While you’re at it being “principled”, quit your job and have your boss send it overseas.
Oh. And close your bank account, and give away all your money.
Because that’s exactly what we’re doing now.
ya we all have tire making jobs and we know how nice protectionism works. but its really not about anything but money and power
Who do you think is buying our debt?
If they cut off the gravy train, we won’t have cash to buy anything, yet alone American made goods.
What do you propose?
We do more of the stupidity which got us here?
What brand cell phone do you have? What brand car do you have? What brand tires do you have? What brand computer are you using to post here on FR?
Why do you support “treasonous” companies with your dollar?
What’s treasonous is that we have demonized the profit motive here in the US. Making an honest living by being smart and running a business is now evil; only being a “union member” or a Government worker is considered “pure”. You have no right to profit here, because it’s “evil” in the eyes of the public. Corporations making “outrageous” profits, wealthy people buying nice cars and houses...
The problem is not “outsourcing”; the problem is WHY outsourcing happens. Outsourcing is the symptom, not the cause. The cause is that we - as a nation - have decided it is wrong to make a buck, it is wrong to make profit, it is wrong for the investors and owners of a company to make a profit on their risk when the “common man” only earns $30/hour, and it is wrong to do anything that may damage any living thing (tree, bird, fish) out there.
As long as that’s the general opinion in the American mind, and as long as our Government overlords continue with that populist muck-raking, then outsourcing will continue.
Making a buck is not evil; if you cannot make a buck here, then in fact it WOULD BE evil to simply lose money here! There is no stewardship. Making your profit is good, and grows economies.
We buy products from China, from mainly US-owned subsidiaries in China, because otherwise there is no profit and it all closes down. You cannot build affordable computers or tires with $30/hour labor costs. You cannot sell $90/pr jeans.
Open YOUR eyes, see your own hypocrisy, and see the real reason companies outsource. It’s not treason - it’s called survival.
Actually I’ve got two bona-fide American made products on your list.
Do you?
I’ve got my cash out of my USD positions, I’m in EUR and GBP.
And you live in China.
At least you’re consistent.
And those products would be?
What about the computer or the cell phone?
And you're not. You're the hypocrite. Tell me when you have a completely built-in-the-USA computer or cell phone or car. Please. Until then, you're "patriotism" is hollow, and your position is shifting sand.
The Chinese must not have funneled enough money into democrat coffers lately...
Thanks for saving me the time to type that out!
And you’ll have to get a real job.
That’s the reason you always spam about free trade.
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