Posted on 04/06/2010 4:14:20 PM PDT by bananaman22
In light of the number of manufacturing and goods producing jobs lost in America over the past decade, it’s no wonder why many in Washington and on Main St. are clamoring for a trade and currency war with China. The raucous has grown so loud that Congress, Treasury and the Commerce department may soon be forced to declare China a currency manipulator. Senators Lindsey Graham (R) South Carolina and Chuck Schumer (D) New York have introduced legislation that would compel the Treasury to cite the Chinese as currency manipulators, which would allow the Commerce Department to impose duties and tariffs upon them.
On April 15th there was a deadline for the Department of the Treasury to deliver its semiannual report on foreign exchange. That report could have served as the mechanism in which to place the “manipulator” label on the Chinese. But the deadline for the report was delayed by Secretary Geithner in a statement he made on April 3rd.
Make no mistake; the reduction in the manufacturing and goods producing sector of the economy has been and continues to be a serious problem. Since the year 2000, the U.S. has seen its manufacturing sector as a percentage of GDP drop from 14.5% to 11.5%. More troubling is the jobs picture. The number of manufacturing jobs lost in the U.S since the year 2000 has been 5.73 Million. And the number of goods producing jobs lost has been 6.81 million! Full article at: US Trade war
(Excerpt) Read more at oilprice.com ...
The notion that we would lose a trade war with China is nonsense. China gives us nothing we need that we can’t get elsewhere. That being said, I’m not too sure a trade war with China is such a great idea.
The author believes that China can do without food. The author is a maroon. Granted, though, the free traitors in collusion with foreign communist enemy regimes do engage in wishful thinking about starving their own fellow Americans.
BTW, after the sovereign debt crisis to come caused by free traitors, they’ll no longer have their big, socialist government to enforce their unconstitutional, anti-domestic-competition regulations and anti-family regime of perversions.
And it was meant to equalize the tariffs each State imposed on imports, much like regulating interstate commerce. It wasn’t meant for punitive purposes.
Smoot-Hawley anyone?
LOL. What is a tariff if not punitive? It’s a tax. All taxes are punitive.
whatever. just tariff the chinese imports. smoothawley this buddy.
China has its eye on our Pacific Coast fishery. Just watch.
I would encourage all of you to purchase the Matthews China fund. Frankly, I’m done investing my money in America. A country’s greatest asset is its ability to produce. We produce nothing. I’m putting my money in countries that actually produce tangible things. America produces census workers.
Actually, China is self sufficient in food production. Moreover, when push comes to shove, they can always source their corn and soybean imports from Brazil and meat from Argentina.
The fact of the matter is that the U.S Economic is entirely uncompetitive in just about every sector except for defense industries. This is why we would lose a trade war war.
Well, that’s fine. We need to take out the trash here anyway. Then we’ll have small government, and men will rebuild. And the money printing tactic won’t work, because without real, domestic production to tax more heavily, extra currency will be as worthless to government employees and favored special interests as to the rest of us. ...worked in the past due to such manufacturing base but not now. Many of the rest of us are preparing more than perceived by bosses (who continue to hire illegals). We help our friends out at times, and they help us at times. ...no charge for our kind, but such trade services do cost our more superior neighbors (who currently live off of the system). You name it, we, as a group, can repair or build it. I don’t mind doing more for one, when he might do less for me later—or vice versa. ...no charges, no agreements.
I’ll put it this way in order to be more clear. Financially, I’m poor as a dog while not drawing any kind of welfare. But I’m ready and have no fear of a sovereign debt crisis. I’m far tougher and more capable in many ways than corporate office wimps. They are not “Galt” types. Technically inclined men like myself and my engineer friends (real engineers with that “PE”) are the “Galt” that the anarchist libertine author never realized. There’s nothing new about us. We’re real conservatives.
Enough America-bashing propaganda.
Commence the trade war!
No need for a trade war. I believe China will raise the value of the reminibi because, in the long run, it will be more benficial to them to do so.
China keeping her yuan low doesn't take money away from Americans. But what it does do is allow stronger Americans to take money away from weaker Americans. I realize that is a bold statement, but that, in essence is what is happening.
Instead of paying an American worker $20/hr to assemble a product, the production is sent to China for $1-$2/hr. Who pockets the difference? Well, quite simply retailers, American companies that design the product, shippers, etc. And of course, the increase profit margin. And the consumer who pays less for a product.
So, it is time for China to raise the yuan to prevent stronger Americans from taking advantage of weaker Americans. Its really that simple. Not everyone can be programmers, market analysts, advertisers, accountants, designers, etc. Some people just want to stay in their small town communities and work at the local plant and raise their families.
You misspelled traders.
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