Oops.
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 ...
Can you explain what you mean by Communist Chinese? What part of the economic or political structure of China is Communist?
For that matter, what is Communism, in your opinion? How is it manifested?
“To Fish” (A Fable)
Once upon a time, in a land far far away, there was a strong wonderful nation, to which all other countries on earth looked for inspiration and leadership. That shining nation on a hill, was noted for a particular ability to fish. They provided the world with an abundance of quality, tasty fish from their fishing fleet - the finest on all earth.
Every nation on earth asked that country, who we will call “America”, to teach them to fish also.
The inhabitants of that land, were of a particularly gracious, and trusting stock. Their good nature was inspired by this opportunity to teach other needy fellow countries, to also fish.
Those inhabitants of that nation, then taught every other country on earth, to fish.
One by one, those other countries suddenly changed. Those countries which had been so appreciative of that country called America, when they needed to learn how to fish - began to speak in hushed tones. One by one, those countries stopped buying fish from America. Eventually, no country was willing to buy any more fish.
The countries, as if they knew something the American fishing fleet did not - stated they were no longer going to buy fish from America. But if the American fishing fleet became hungry, Americans were welcome to BUY fish from them, as long as America sold them their fishing boats, fishing nets, and all their fishing tackle.
What followed next, remains one of history’s most startlingly shocking mysteries. which eventually led to the end of that country, called “America”.
For some reason, every last one of those American fishermen, agreed to sell everything they had - for cheaper fish.
“If I remember correctly, this didn’t work out well for Roosevelt when he tried it...GD2”
CORRECTION...meant Hoover not FDR...
Wasn’t a trade war with Japan ultimately what caused us to go to war with them?
It is I think what caused them to attack Hawaii.
You're not a Cook County Democrat by chance are you? They try to practice mercantilism as well.
Check out the GDP for the period when Smoot-Hawley was in effect...in most years under Smoot....the GDP grew, especially later in the 1930s. The GDP is the real inidcator of overall economic growth.
If you have to ask “why” it is Communist China, ChiCom, Communist Chinese....there is no hope for you.
You should read up on Lenin’s “New Economic Program” for the USSR and all the similarities with that, and, the current situation in Communist China
Excellent post on “The Fish”. And, an excellent analogy on what is going on in the present state of global economics.
If I can add: Eventually, those American fishermen...who no longer had the impetus to fish....suddenly found their cheap fish to cost more and more....until they could not afford fish no more.
(post-Globalism meltdown...the cheap products eventually will no longer be cheap....as fewer people now fish)
Actually, FDR is the father of our current Free Trader Globalism. It was FDR who organized Bretton Woods....it was FDR that started GATT (now called the WTO) as a agency under the United Nations....all the current Free Trade nonsense all goes back to FDR
Free Trader Globalists are so busy trashing Herbert Hoover...because they cannot admit that their economic theory goes lock step with FDR. Free Traders are our modern New Dealers
Hadn’t tried cutting one!
I buy my Michelin tires in the USA
http://www.michelin-us.com/
PS I thought one should buy a product based on the worth of the product’s mascot.
s/o
No...a trade war did not cause Japan to bomb Pearl Harbor....Japan needed raw materials to build their economy and war machine....Pearl Harbor was their way to try and seize control of the Pacific...and to help out Germany (who needed to keep the US out of Europe as long as possible)
Trade Wars have been going on for decades currently. Most nations have a current trade war with the US....only the Free Trader Globalists think it is not happening
Fixed it for ya!
The GDP is the real inidcator of overall economic growth.Is it possible you have fallen into the same trap that the 'brain trust' of FDR fell into?
You're NOT denying that unemployment was rampant during that period, are you?
What affect did S-H have on exports?
I’d heard that we’d stopped sending iron ore and scrap as well as oil and it really stung.
That enraged the Japanese.
Anyone who studies or follows economics knows that S-H made matters worse, so when you see that argument it comes from someone who doesn't understand the facts, whether it comes from a "free-trader," or a "protectionist" using it as a red herring. (In my experience, the latter is more often the case).
Oops.
Where do you think Ronald Reagan fits in all this? He started and negotiated the Uruguay Round.
“First ... Increase SPENDING
Second .. RAISE TAXES
Third ... Impose TARIFFS
Stir together and what do you get?? DEPRESSION!!”
Exactly correct. Protectionism and government intervention turned what should have been a periodic “panic” into the Great Depression.
‘When goods don’t cross borders, armies will.’
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