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It's the Trade War. Globalization and so called "free trade" comes at a price. Paid for by the loss of the middle income America to the Eastern powers brought to you by,...., Too Big To Fail.
"Even if the economy is stimulated, most of the jobs would go to China."
We have to either get out of or renegotiate anti-middle class trade agreements like WTO & NAFTA .
The fact of the matter is, the highest authority in the land is not the Supreme Court, not the Presidency, not the left/right or Dems/GOP,and most certainly should never be an oligarchy.
The highest authority in the land is the Constitution.
It was designed and periodically amended to protect natural person American citizens from the tyranny not only of an overreaching government but also of our fellows whether in the form of a single individual or the behind the veil of a fictional entity called a corporation.
But 1st we have to be educated about our rights and those of the officials who we elect to serve us to protect our Constitutional rights and privileges.
Public servant should worry only about serving the public interest and not raising campaign money.
The way things are that is almost impossible and this is way things either don't get done (particularly when it will promote long term benefits for non-corporate America) or the the things that do (bankster bailouts) do not benefit Main Street.
With a good public finance system in place and plus the internet as a podium, public servants would be able to govern rather than campaign 24/7.
But especially with the threats on Net Neutrality, we need a person like Susan Crawford permanently on the administration to ward off the privatization of the net.
So wake up time non-corporate America. It does not matter if you're black or white OR left and right. If you're a middle income or working American citizen, you have to recognize Too Big To Fail really stands for,..., oligarchy.
Not a free and open market capitalism, not an overreaching big brother government and not socialism, OLIGARCHY INC.
This the tyrannical force that threatens to turn us as Simon Johnson so eloquently put, " a banana republic". Yes we could collapse just like the once powerful Russia did.
Still we have the Constitution. So all those who want to remain citizens of a sovereign, 1st world nation-state rather than a consumizen of a for-profit corporate state spread the word to friends, families, organizations, Congressmen, that:
1. We demand Fair Trade and not "free trade".
2. We demand a Net Neutral Internet.
3. The overturn of the anti-democratic Supreme Court ruling on corporations.
4. We demand public campaign finance reform.
Again the war that's really hurting us is the Trade War. How can we seriously believe someone is protecting us when their is a drug war right smack on our unprotected southern borders.
Lets get public servants once again serving the public interest.
This may not be the magic solution that brings jobs back to the states, but the public should be aware there are some strategies out there that might be able to do the job.
"Corporate America, producing in China, has a 17% VAT rebated at export and pays no tax on its imports to the U. S.; whereby corporate America, producing in the United States, pays on an average of 27% corporate tax plus a 17% VAT when its export reaches Hong Kong, for a total of 44%. This 44% is a substantial incentive for corporate America to off-shore its production to China. Eliminating the corporate tax and replacing it with a 2% VAT would not only remove this incentive, but promote exports and raise more revenues. This should be done now.
President Obama fails to enforce our trade laws that would protect domestic production and jobs. Section 201 of the Trade Act calls on the president to impose import tariffs or quotas when American production is endangered. President Obama should have enforced Section 201 and not waited for General Motors to go bankrupt and need a bailout. The War Production Act of 1950 calls on the president to protect America's production and supply of those items necessary for our national security. Boeing can't build a fighter plane except with an important part manufactured in India. Sikorsky cannot produce its helicopter except with a tail motor coming from Turkey. Our defenses are down, and the president could create millions of jobs by exercising his authority under the War Production Act."
"But what about everything else China is up to in its competition with U.S. manufacturers? The Chinese RMB is arguably the most visible 'symbol' of China's mercantilism, but despite the fact that the renminbi is obviously undervalued, on the order of at least 25% and probably closer to 40%, it's only the tip of China's mercantilist iceberg. Granted, it's a very big tip, but then it's a very big iceberg.
The most extreme example of China's use of its mercantilist policies to create jobs in China at the expense of jobs (and technology) overseas is China's "Indigenous Innovation Production Accreditation Program". The IIPA Program was promulgated on November 15, 2009, and limits all Chinese central and provincial government procurement to companies that have "indigenous" - or Chinese - "innovation". This Program is far more restrictive than any other buy-domestic program in the world, and its adverse impacts are already being felt across all industries that seek to export to China, but especially in computers and consumer electronics, green technologies, autos, aviation and specialty materials. And if this wasn't blatant enough, embedded in the IIPA Program is the demand that in order to sell things in China not yet manufactured there, foreign companies must first transfer and license, to Chinese companies, their latest technology for "co-innovation" and "re-innovation".
It is a travesty that not CNN, nor NBC nor FOX gives this cat any play.
Truly a travesty and an injustice.
" The United States was founded in a trade war. The Mother Country forbade manufacturing in the colony and required all exports to be carried in English bottoms. The Revolution was definitely for freedom, but the forefathers were interested in trade more than freedom. Article I, Section 8, of the Constitution of 1787 called on Congress to regulate both domestic and foreign commerce. It wasn't until six years later that we amended the Constitution to provide for freedom of speech, religion, press and assembly. After adopting a seal, the first bill to pass the Congress in its history on July 4, 1789, was a protectionist tariff. And we financed and built these United States into an industrial power with "protectionism." We didn't pass the income tax until 1913. In 1900 the colony was richer than the Mother Country by $25 billion and had a GDP double the GDP of Germany and Russia combined, causing Teddy Roosevelt to exclaim: "Thank God I'm not a Free Trader.
Last week, as the Vice President was explaining the spy swap with Russia, the Pentagon was begging for Russian helicopters. We can't defend this nation save the favor of some foreign country. The Vice President and I provided the black program in the United States Senate for the stingers that shot down the Russian helicopters to win Charlie Wilson's war. Now we expect to win the hearts and minds in Afghanistan with Russian helicopters. All we need to do is enforce the War Production Act of 1950 like President Kennedy did in 1961. We brought the witnesses to a Cabinet hearing that found textiles as the second most important to our security than steel. Kennedy saved the textile industry. Globalization can't be stopped, and there's no chance of saving the entire industry. But we've got to produce those items necessary to our national security, like winter wear, camouflage, composites for body armor, etc.
Step in with tariffs or import quotas under Section 201 of the Trade Act when a vital industry is endangered. Don't wait for General Motors to go bankrupt.
Its time to get back to basics.
And no, not of the lunatic fringe Beckian revisionist history kind.
Its time to toss Beck, Palin and the rest of the freak show into the looney bin where they belong and start giving cats like old man Fritz, Paul Volcker and Jesse Jenkins, the spotlight.
Cats that can craft strategies to ACTUALLY solve problems.
Trade Deficit Cuts Jobs And GDP We are not just outsourcing jobs, we are outsourcing our own economic growth to others!
Congress and the President's New "Make It in America" Initiative Congress and the president are trying to do something about it, with the new "Make It In America" initiative (http://ourfuture.org/blog-entry/2010083104/president-obama-says-made-america-heart-us-recovery - broken link). CAF's Bob Borosage in Politico today, wrote "Save American manufacturing":"
" Actual hard data released by the Federal Reserve Bank of Philadelphia today shows that onshoring, in fact, has declined over the past two years. Only 4.5 percent of manufacturers surveyed indicated that they had brought work back to the U.S. since the beginning of the year, compared to 6.2 percent in a survey two years ago. On the other hand, offshoring continues at a higher, though slightly diminished, pace: 9.7 percent of companies indicated that they had offshored work, compared to 11.1 percent two years ago.
There's an explanation for why this "onshoring" myth has been perpetuated: it's what multinational companies want you to think. These companies know that "Made in America" is a label that sells once again. Even KIA -- the Korean automaker -- advertises its minivan as being made in the USA.
So, how do we really make an onshoring trend a reality? It will take far more than what either the Obama Administration or the Congress have proposed so far. First, we need to stop China's cheating on currency. This isn't protectionist -- far from it. Even free trade economists like Paul Krugman and Fred Bergsten support a strong response. Those who say China has the leverage in the relationship are completely mistaken: they need our market more than we need their debt financing. We'll create as many as 1.5 million new jobs by moving China to a market-based exchange rate, at no cost to our Treasury.
Second, we need a real manufacturing strategy. "Made in America" must be more than slogan -- it must be the purpose of our economic policies. It will take real investment in our crumbling infrastructure and our workforce to make this a reality. "
"When China wins in trade, as it now does every day, it's really only the U.S. which loses. In fact, for the last several years the correlation has been almost dollar for dollar. In June, for example, the overall U.S. trade deficit in goods and services surged 19% to a 21-month high of $50 billion, and of this figure, 53% or $26 billion was with China, which matches, almost to the dollar, China's own overall trade surplus during the month of $28 billion.
Obviously, China is not our only problematic trading partner. With our neighbor Mexico, for example, the U.S. has an expanding trade deficit of around $6.0 to $6.5 billion per month, while in June our deficit with the European Union ballooned by 26% to $8 billion. Yet China's enormous positive trade balance with the U.S. alone reduces each year our country's GDP by more than $400 billion or nearly three percent. When the U.S. reorders and reforms this relationship, we will be sending a strong message to all nations that it's finally, really time for them to trade fairly with America. No more unbridled 'free trade' with anyone - now only 'fair free trade' with everyone.
These policies aren't protectionist, anti-globalization or un-American -- they are simply good, necessary, balanced and reciprocal. Absent them and related actions, however, including securing that "fair playing field for our manufacturers" which the eleven Senators just demanded, China's massive foreign reserves (mostly of U.S. dollars) and its pervasive global mercantilist agenda will have even more dire repercussions for America's competitiveness in the world, our overall economic well being, and our national and military security."
It's the Trade War. Globalization and so called "free trade" comes at a price. Paid for by the loss of the middle income America to the Eastern powers brought to you by,...., Too Big To Fail.
"Even if the economy is stimulated, most of the jobs would go to China."
We have to either get out of or renegotiate anti-middle class trade agreements like WTO & NAFTA .
The fact of the matter is, the highest authority in the land is not the Supreme Court, not the Presidency, not the left/right or Dems/GOP,and most certainly should never be an oligarchy.
The highest authority in the land is the Constitution.
It was designed and periodically amended to protect natural person American citizens from the tyranny not only of an overreaching government but also of our fellows whether in the form of a single individual or the behind the veil of a fictional entity called a corporation.
But 1st we have to be educated about our rights and those of the officials who we elect to serve us to protect our Constitutional rights and privileges.
Public servant should worry only about serving the public interest and not raising campaign money.
The way things are that is almost impossible and this is way things either don't get done (particularly when it will promote long term benefits for non-corporate America) or the the things that do (bankster bailouts) do not benefit Main Street.
With a good public finance system in place and plus the internet as a podium, public servants would be able to govern rather than campaign 24/7.
But especially with the threats on Net Neutrality, we need a person like Susan Crawford permanently on the administration to ward off the privatization of the net.
So wake up time non-corporate America. It does not matter if you're black or white OR left and right. If you're a middle income or working American citizen, you have to recognize Too Big To Fail really stands for,..., oligarchy.
Not a free and open market capitalism, not an overreaching big brother government and not socialism, OLIGARCHY INC.
This the tyrannical force that threatens to turn us as Simon Johnson so eloquently put, " a banana republic". Yes we could collapse just like the once powerful Russia did.
Still we have the Constitution. So all those who want to remain citizens of a sovereign, 1st world nation-state rather than a consumizen of a for-profit corporate state spread the word to friends, families, organizations, Congressmen, that:
1. We demand Fair Trade and not "free trade".
2. We demand a Net Neutral Internet.
3. The overturn of the anti-democratic Supreme Court ruling on corporations.
4. We demand public campaign finance reform.
Again the war that's really hurting us is the Trade War. How can we seriously believe someone is protecting us when their is a drug war right smack on our unprotected southern borders.
Lets get public servants once again serving the public interest.
Oh come on. Nobody wants to read all that goofy stuff! Here's the real deal... watch this instead!
There... feel better now?
That's a good middle-class. Now go get your VISA cards out, head back to your malls, fast food places and big-box stores and buy something nice for yourselves. You deserve it...
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Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
