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Global Backlash Against Globalism

Steve

Well-known member
Sens. Dianne Feinstein, D-Calif., and Pete Domenici, R-N.M., have introduced a bill to create a permanent commission to make recommendations

what a great solution, add another layer of bureaucracy...

has any one ever seen a government study, or commission ever actually solve anything..

not to be negative MoGal, but posting long winded articles about the trade deficit do little to solve the problem.....what are you doing to actually solve it.

I have never owned a Japanese car....nor a Korean one either...while Mine was assembled with parts from all over..at least I try..and most have lasted well past 200,000 miles..

My old IBM computer was "assembled in America"...and upgraded with more American Parts...still working fine after ten years...

the government will "never" be able to solve the trade deficit...It's on our shoulders to solve...so how about a real solution.....not another government commission..
 

MoGal

Well-known member
I've become increasingly aware of what's going on in our country. I have been writing my senators/representatives in Congress.... how many of you all have? They can't know what their constituents want if we don't voice our opinion.

Most of the young people today, don't have any interest in what is going on in our country......... they go to work or college every day, hang out with their friends, party on the weekend and start the week over. I know myself I didn't care about what was going on in our country when I was in my 20's. I had too much trust in the government to take care of the American people, that they would make decisions that would better this country......... not give it away. I now see that was a mistake and its going to take a lot of people concerned about the future of this country to turn it around.
 

MoGal

Well-known member
I am also done with buying foreign goods (at least knowingly). I read the other day China is selling weapons to Saudi so they can turn around and kill US soldiers...... oh yeah, lets be sure to support China so they can kill our Americans.

How many young people know the "Pledge of Allegiance" ??? Don't you think its time we brought it back??
 
A

Anonymous

Guest
Steve
the government will "never" be able to solve the trade deficit...It's on our shoulders to solve...so how about a real solution.....not another government commission..

First thing we need to get is a government that wants to solve the trade deficit--and not sell our country out to the Multinational Corporate World...

That is where I agree with MoGal that we need to let the politicians know where we set-- worked with the immigrant amnesty bill (which I see now even McCain has seen the light and changed his tune) and on the M-COOL law....
When 80-90% of the public/voters start talking as one- even the bought out politicians have to start listening....McCain now sees his amnesty support cooked his goose- and he better scramble just to keep a happy home in the Senate....

I think the anti-globalism, protectionist, support USA movement will be the greatest growing Backlash group in the next few years...Especially when the depth of the recession/depression we're starting into sets in......GW's arrogance in not listening to the public/voters is going to create it-- Remember in the US, we (our government) are not proactive- we are reactive- and usually by the time it gets so bad to cause the reaction it forces overreaction....
 

kolanuraven

Well-known member
Face it boys....you all stuck to GW's apron strings thinking he was gonna save you from that bad man who had sex, OMG!!!!!!. Well, looks like you got screwed too!!

Bush has inflicted more damage to this country here at home and abroad than any other President in the history of the country!!!

I mean he rode on your ( Rep's) shoulders all the way to the White House and now he's kicked you in the nuts, won't listen and forgot he even knows you or how he got there!!

Granted this is a problem with 99% of the politicians BUT this guy is their KING!!
 
A

Anonymous

Guest
This former Reagan advisor sums it up quite well in the first two paragraphs:

Early this morning China let the idiots in Washington, and on Wall Street, know that it has them by the short hairs.


This is a grim outlook. We got in this position because our leaders are ignorant fools. So are our economists, many of whom are paid shills for some interest group. So are our corporate leaders whose greed gave China power over the US by offshoring the US production of goods and services to China. It was the corporate fat cats who turned US Gross Domestic Product into Chinese imports, and it was the “free trade, free market economists” who egged it on.

------------------------

August 8, 2007

Uncle Sam, Your Banker Will See You Now ...
Digging a Hole to China

By PAUL CRAIG ROBERTS

Early this morning China let the idiots in Washington, and on Wall Street, know that it has them by the short hairs. Two senior spokesmen for the Chinese government observed that China’s considerable holdings of US dollars and Treasury bonds “contributes a great deal to maintaining the position of the dollar as a reserve currency.”

Should the US proceed with sanctions intended to cause the Chinese currency to appreciate, “the Chinese central bank will be forced to sell dollars, which might lead to a mass depreciation of the dollar.”

If Western financial markets are sufficiently intelligent to comprehend the message, US interest rates will rise regardless of any further action by China. At this point, China does not need to sell a single bond. In an instant, China has made it clear that US interest rates depend on China, not on the Federal Reserve.

The precarious position of the US dollar as reserve currency has been thoroughly ignored and denied. The delusion that the US is “the world’s sole superpower,” whose currency is desirable regardless of its excess supply, reflects American hubris, not reality. This hubris is so extreme that only 6 weeks ago McKinsey Global Institute published a study that concluded that even a doubling of the US current account deficit to $1.6 trillion would pose no problem.

Strategic thinkers, if any remain who have not been purged by neocons, will quickly conclude that China’s power over the value of the dollar and US interest rates also gives China power over US foreign policy. The US was able to attack Afghanistan and Iraq only because China provided the largest part of the financing for Bush’s wars.

If China ceased to buy US Treasuries, Bush’s wars would end. The savings rate of US consumers is essentially zero, and several million are afflicted with mortgages that they cannot afford. With Bush’s budget in deficit and with no room in the US consumer’s budget for a tax increase, Bush’s wars can only be financed by foreigners.

No country on earth, except for Israel, supports the Bush regimes’ desire to attack Iran. It is China’s decision whether it calls in the US ambassador, and delivers the message that there will be no attack on Iran or further war unless the US is prepared to buy back $900 billion in US Treasury bonds and other dollar assets.

The US, of course, has no foreign reserves with which to make the purchase. The impact of such a large sale on US interest rates would wreck the US economy and effectively end Bush’s war-making capability. Moreover, other governments would likely follow the Chinese lead, as the main support for the US dollar has been China’s willingness to accumulate them. If the largest holder dumped the dollar, other countries would dump dollars, too.

The value and purchasing power of the US dollar would fall. When hard-pressed Americans went to Wal-Mart to make their purchases, the new prices would make them think they had wandered into Nieman Marcus. Americans would not be able to maintain their current living standard.

Simultaneously, Americans would be hit either with tax increases in order to close a budget deficit that foreigners will no longer finance or with large cuts in income security programs. The only other source of budgetary finance would be for the government to print money to pay its bills. In this event, Americans would experience inflation in addition to higher prices from dollar devaluation.

This is a grim outlook. We got in this position because our leaders are ignorant fools. So are our economists, many of whom are paid shills for some interest group. So are our corporate leaders whose greed gave China power over the US by offshoring the US production of goods and services to China. It was the corporate fat cats who turned US Gross Domestic Product into Chinese imports, and it was the “free trade, free market economists” who egged it on.

How did a people as stupid as Americans get so full of hubris?

Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions.He can be reached at: [email protected]


http://www.counterpunch.org/
 

Mike

Well-known member
There is enough blame to go around.

Mainly I blame the U.S. citizens for buying all this cheap crap from China.
It's just another example of greed. Drive a $50,000.00 car and buy a screwdriver for 25 cents less. :???:
 

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