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Saturday, February 19, 2011

G20 Leaders Voice Worry on Trade



Here is the thinking of our leaders and representatives: Any questions?

"The extent to which advanced economies are lagging emerging markets is a major preoccupation among policy makers here. The United States Treasury secretary, Timothy F. Geithner, told the group that forecasts for growth of about 5 to 7 percent in emerging markets, 3 to 4 percent in the United States, and 1 to 2 percent in Europe this year seemed accurate to him. The question, he said, was: 'How do we get sustainable durable growth in the advanced economies?'"

Let's see:
  • The Chinese manipulate their currency.
  • The Chinese government subsidizes the manufacture, infrastructure and delivery of their manufactured products.
  • The US government permits the Chinese to not buy  US manufactured goods by borrowing the Chinese surplus  by the boat load. The Chinese instead of having dollars to buy goods from American factories,  loan those dollars  to Wall Street and The US government.
  • The Chinese do not allow majority ownership of facilities  built in China. They become more than equal "partners."
  • The Chinese insist on access to all technology of the plants built by Westerners in China. Mysteriously, inexplicably, this technology shows up in competitive Chinese factories.
  • Trade secrets and patents, what's that?
  • The Chinese erect tariffs and barriers to US manufactured goods.
  • Our Masters and Rulers have manipulated the tax code to favor imported goods over domestic goods.
  • Wall Street awards the big rewards for those that break companies and import foreign goods.
  • Our politicians subsidize the entire farce in every way possible.
What could possibly go wrong?


Read more here

15 comments:

  1. Listen to what Trump says and explain where he is wrong.

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  2. We don't need Chinsee products.

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  3. We don't need Chines products?

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  4. NO, WE DO NOT NEED CHINESE PRODUCTS.

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  5. …and we will never get rid of our internal deficits until we cut off our repugnant politicians from their ability to borrow money, generated and accumulated from stupid trade policies and insane job killing tax policies and federal regulations.

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  6. We wonder how economic crises take everyone by surprise, not least "experts" and those whose job it is to manage the economy.

    Inflation is clearly the government's and Wall Street's plan all along. It is the only realistic way of reducing the deficit and the burden of interest payments on the national debt. Yes, it is legalized theft from savers and those on fixed incomes - but that is what governments always do when they have over-borrowed. Time to start putting these politicians and bankers in jail.

    I am amazed that people continue to ignore the fundamental truths.

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  7. WASHINGTON — The House early Saturday approved a huge package of spending cuts, slashing more than $60 billion from domestic programs, foreign aid, and even some military projects, as the new Republican majority made good on its pledge to turn the grassroots fervor of the November elections into legislative action to shrink the size and scope of government
    ______________________

    What happened to our $100 billion cut?

    Up to the very end, the Republican Study Committee, a conservative bloc, continued to push for even bigger cuts, putting forward an amendment on Friday to slice $22 billion more. That amendment was defeated, as senior Republicans, including the majority leader, Representative Eric Cantor of Virginia, and veteran members of the Appropriations Committee, teamed up with Democrats to hit the brakes.

    ______________________________

    I thought Eric Cantor was on our side? Oh, that's right, his wife works for the Shylock Emigrant Bank, recipient of $250 million TARP funds.

    _______________________

    In a $3.5 Trillion budget, the best the Republican House can do is cut 1.7%, and that has to get through the Democrat Senate. We are truly fucked.

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  8. Thanks to Obama for spending more of our dollars than he knew he should...he didn't care about the people - it's all about getting votes. End of story while the working class continues to fall even farther behind. Soon there will be no working class...You will either be Rich or Poor...who are we kidding here. Taxes, inflation and everything else...working to pay the Government - not for anything else. Washington spending out of control and we the people for generations to come will now suffer/pay the price for these slimy politicians...all about themselves, power, ego and their own pocketbooks. Sad but true.

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  9. Obama is the man elected to lead the country out of the George Bush years. You get what you pay for.

    He's a leftist academic, sympathetic to socialist ideals and averse to big business. Most likely, of all the candidates who ran for the Presidency, he is the least suited to deal with the worst economic crisis since the Great Depression.

    Oh well, we'll pay for what we got.

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  10. The economic crisis is really beginning to take a bite.

    The 'business' is Wisconsin this week is a skirmish in a war of ideologies. We're a country sharply divided and polarised along the liberal/conservative lines and the economic crisis is fraying nerves and the fabric of society. The situation is getting ugly around the whirled and here at home.

    Please remain in your seats with your seatbelts fastened and your tray tables stowed in their upright position.

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  11. .

    He's a leftist academic, sympathetic to socialist ideals and averse to big business


    :)

    .

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  12. The AP has another bad news story this morning:

    ...about 30 states to borrow $41.5 billion from the federal government to pay unemployment benefits to their growing population of jobless.
    The ramifications will be felt for years.
    In the short term, states must find the money to pay interest on the loans. Generally, that involves a special tax on businesses until the loan is repaid. Some states could tap general revenues, making it harder to pay for schools, roads and other state services.
    In the long term, state will have to their replenish unemployment insurance programs. That typically leads to higher payroll taxes, leaving companies with less money to invest.


    And less money for pay raises...

    ...or additional employees.

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