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China: Can Smoot-Hawley only happen in the US?
China Financial Markets ^
| 02/26/09
| Michael Pettis
Posted on 02/26/2009 9:37:08 PM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
2
posted on
02/26/2009 9:37:29 PM PST
by
TigerLikesRooster
(kim jong-il, chia head, ppogri, In Grim Reaper we trust)
To: TigerLikesRooster
It’s time to move all manufacturing back on our own shores...
To: Star Traveler
Its time to move all manufacturing back on our own shores... AND throw out the foreign workers
4
posted on
02/26/2009 9:43:29 PM PST
by
clamper1797
(FUBO ... The Kenyan Lincoln)
To: clamper1797
Yeah, no more of those special work visas to easily replace American workers. It’s time to concentrate on American workers...
To: TigerLikesRooster
It’s a rather pathetic read.
6
posted on
02/26/2009 9:53:49 PM PST
by
allmost
To: Star Traveler
So do you support massive inflation, or paying American workers miniscule wages? Either way, you're re-tooling the economy to create an artificial result, much the same way Obama is trying to artificially prevent foreclosures and bankruptcies, at great cost to the economy and our grandchildren. Further, said re-tooling will never re-create our previous situation, where we exported most of our production. Nobody else will buy our goods at our inflated prices, and thus these newly-created manufacturing plants will lack the customer base required to make them successful or profitable.
But don't let simple economics stop you from suggesting a course of action that is so inefficient and wasteful. It certainly doesn't stop our elected representatives!
7
posted on
02/26/2009 10:01:50 PM PST
by
Teacher317
(wo xue zhong wen)
To: Teacher317
I don’t think it’s in the best interests of the U.S. to have manufacturing in other countries and especially in some countries like China, the Communists, who want to go to war with us.
To: TigerLikesRooster
![](http://brandingadvice.typepad.com/photos/uncategorized/benstein.jpg)
In 1930, the Republican-controlled House of Representatives, in an effort to alleviate the effects of the... Anyone? ...the Great Depression, passed the... Anyone? ...the Hawley-Smoot Tariff Act, which... raised or lowered...anyone? raised tariffs, in an effort to collect more revenue for the federal government. Did it work? Anyone? It did not work, and the United States sank deeper into the Great Depression.
9
posted on
02/26/2009 10:12:04 PM PST
by
Ken H
To: clamper1797
What American company can afford the taxes and regulations to manufacture in this corporate wasteland. Ohbummer is only going to make it far worse.
Pray for America
10
posted on
02/26/2009 10:14:41 PM PST
by
bray
(Welcome to the USSA!)
To: TigerLikesRooster
It seems the fight over selling American beef to Europe is on the way to a trade war over European motorcycles. The threat on the table is a 100% tariff on European motorcycles and scooters. Any stock currently on the showroom floor is exempt. Some of the affected names include Vespa, Piaggio, Aprilia, BMW, Husqvarna and KTM.
The 2007 Piaggio BV500 out the door price is about $6600 right now. Double that. Now you're in the price range of a low end Harley or mid range Japanese cruiser. The dealers of European motorcycles will be put out of business over an agricultural conflict. Totally stupid. No surprise when politicians are involved.
11
posted on
02/26/2009 10:24:13 PM PST
by
Myrddin
To: Teacher317; Star Traveler
The way to return the US to the glory days of manufacturing is to have a new Hitler take over germany, start a war that destroys europe, england and russia and have the same happen in japan which destroys japan, china, and the rest of east asia.
Then presto, the US becomes the economic superpower of days gone by.
12
posted on
02/26/2009 10:32:31 PM PST
by
staytrue
(YES WE CAN, (everyone should get in the practice of saying it, it will soon be mandatory))
To: TigerLikesRooster
Gross Domestic Product (ref. 1929 dollars in millions)
Year GDP
1929 101,444
1930 91,513
1931 84,300
1932 70,682
1933 68,337
1934 74,609
1935 85,806
1936 95,798
1937 103,917
1938 96,670
1939 103,736
1940 112,961
1941 126,237
Source: National Bureau of Economic Research, NBER Series 08166.
13
posted on
02/26/2009 10:51:55 PM PST
by
familyop
(As painful as the global laxative might be, maybe our "one world" needs a good cleaning.)
To: staytrue
The BV500 is pretty sweet. I went to the vespa center and checked them all out. Too dangerous here though.
The BV500 engine probably sounds better after it’s warmed up. Because I thought it sounded a bit on the chattery side. But hey it has a top speed of 110mph, not bad for a 500cc single cylinder engine. IT’s way too expensive.
14
posted on
02/26/2009 10:52:10 PM PST
by
bicyclerepair
(Thank you Mr. Robinson for FR, from Ft. Lauderdale Florida)
To: TigerLikesRooster
Compensation from before World War I through the Great Depression
by Robert VanGiezen and Albert E. Schwenk
Bureau of Labor Statistics
John T. Dunlop and Walter Galenson, eds., Labor in the Twentieth Century (New York, Academic Press, 1978), p. 30.
Dunlop and Galenson, p. 27.
Year |
Unemployment rate |
1923-29 |
3.3 |
1930 |
8.9 |
1931 |
15.9 |
1932 |
23.6 |
1933 |
24.9 |
1934 |
21.7 |
1935 |
20.1 |
1936 |
17.0 |
1937 |
14.3 |
1938 |
19.0 |
1939 |
17.2 |
1940 |
14.6 |
1941 |
9.9 |
1942 |
4.7 |
15
posted on
02/26/2009 10:53:22 PM PST
by
familyop
(As painful as the global laxative might be, maybe our "one world" needs a good cleaning.)
To: Star Traveler
I would love to see that happen! I could use a job.
I don’t think it will tho, as I think they left for a reason... Over regulation and over taxation. Well, that’s two reasons, sorry.
Even if they did come back, they would only be hiring illegals to keep the costs down and stay competitive.
To: Ken H
"
the Hawley-Smoot Tariff Act,...Did it work? Anyone? It did not work, and the United States sank deeper into the Great Depression."
That's incorrect. The recent anti-American propaganda was based solely on rashes of logical fallacies and has been debunked. See the evidence in
comment #13 and
comment #15.
17
posted on
02/26/2009 11:00:52 PM PST
by
familyop
(As painful as the global laxative might be, maybe our "one world" needs a good cleaning.)
To: Star Traveler; clamper1797
I dont think its in the best interests of the U.S. to have manufacturing in other countries and especially in some countries like China, the Communists, who want to go to war with us.Pat Buchanan was right about this years ago and I supported him for years. He is very bad on Israel and the Jihad.... But right on most else
This is very simple and is called economic nationalism.
American do their own work instead of running up ruinous trade deficits ....And importing foreigners to do work
But there are/was tremendous profits in doing the exact opposite and selling out American workers and entrepreneurs. We are reaching the end game on this
18
posted on
02/26/2009 11:03:17 PM PST
by
dennisw
(Archimedes--- Give me a place to stand, and I will move the Earth)
To: familyop
“Hawley-Smoot Tariff Act” = die hard myth!
Perpetrated by free traitors like the loony libertarian Cato(mite) Institute. Which gets huge corporate contributions
19
posted on
02/26/2009 11:05:33 PM PST
by
dennisw
(Archimedes--- Give me a place to stand, and I will move the Earth)
To: dennisw
"Perpetrated by free traitors like the loony libertarian Cato(mite) Institute. Which gets huge corporate contributions"
Agreed, and which lies so desperately, that it even reverses part of the name of the Act in its rhetoric-filled rants in an effort to make it a little more difficult for its pro-American enemies (us) to find evidence of the truth. ...didn't work, though.
20
posted on
02/26/2009 11:12:05 PM PST
by
familyop
(As painful as the global laxative might be, maybe our "one world" needs a good cleaning.)
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