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Langone: "US economy will recover once Obama is ousted&

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Faster horses

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Breaking News from Moneynews.com


Tuesday, 22 Nov 2011 12:40 PM

By Forrest Jones

The U.S. economy will embark on the road to recovery once President Barack Obama is voted out of the White House, says billionaire investor and Home Depot co-founder Ken Langone.

"If we change the faces in the White House, we're on the road to recovery," Langone tells CNBC.

"I believe it's that simple: we need leadership, we need cheerleading, we need encouragement," he told CNBC.

"We need businessmen and fat cats to feel like they're doing something good, not that they're villains and not that they're criminals. America's best days are ahead."

The U.S. needs leadership committed to cutting back on spending,

Langone says, criticizing leaders for allegedly ignoring recommendations made by his deficit watchdog panel headed by Erskine Bowles, former Clinton chief of staff, and former Republican Senator Alan Simpson.

"The fact of the matter is I think that we aren't even begun the recovery under this president's watch. Unfortunately, this guy is in over his head, in my opinion, big time. We got to have a change in the White House,"

Langone says, adding both sides of the political aisle deserve some blame as well.

"Politicians are like drug addicts around money. They can't stop themselves."


A congressional supercommittee, made up of six Democrats and six Republicans, failed to come up with ways to cut spending by $1.2 trillion, a task they were given as part of a compromise to raise the government's debt ceiling back in August.

Market watchers have said that continued political impasses in Washington will fuel more volatility on Wall Street and could hamper economic growth, the latter of which appears to be souring.

The government recently revised the country's third-quarter gross domestic product growth rate to 2 percent from 2.5 percent, and economists say spending concerns and political bickering in Washington will continue to weigh down on growth.

"We expect the rate of economic growth to weaken in the current quarter, and the situation may deteriorate further if uncertainty arising from the supercommittee budget discussions and the debt crisis in Europe continue to adversely affect both business and consumer confidence in the U.S. and its major export markets," says Chris Williamson, chief economist at Markit, a British research firm, according to the Los Angeles Times.

© Moneynews. All rights reserved.
 

hypocritexposer

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It will be a little to late, if not done in 2012, IMO.


If he wins in 2012, there will be a record number of companies and corporations leaving the US
 

TSR

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At which time, those corporations need to realize that access to
america's markets are worth something. They owe some allegiance to America, the country that made many of them what they are today.
 

hypocritexposer

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TSR said:
At which time, those corporations need to realize that access to
america's markets are worth something. They owe some allegiance to America, the country that made many of them what they are today.


What do you suggest they provide as payment for what they OWE you?

Should US ranchers provide payment to the citizens of every Country they export beef to?
 

TSR

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hypocritexposer said:
TSR said:
At which time, those corporations need to realize that access to
america's markets are worth something. They owe some allegiance to America, the country that made many of them what they are today.


What do you suggest they provide as payment for what they OWE you?

Should US ranchers provide payment to the citizens of every Country they export beef to?

Where did I say they owed ME anything???

What is the percentage of individual Ranchers that export to foreign countries, in particular those countries overseas? Having said that, since our imports are far more than our exports would we benefit by charging for market access of foreign countries??
 

Steve

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TSR said:
hypocritexposer said:
TSR said:
At which time, those corporations need to realize that access to
america's markets are worth something. They owe some allegiance to America, the country that made many of them what they are today.


What do you suggest they provide as payment for what they OWE you?

Should US ranchers provide payment to the citizens of every Country they export beef to?

Where did I say they owed ME anything???

What is the percentage of individual Ranchers that export to foreign countries, in particular those countries overseas? Having said that, since our imports are far more than our exports would we benefit by charging for market access of foreign countries??

it's called a "tariff" and it usually causes retaliation in the form of tariffs on our exports..
 

hypocritexposer

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Steve said:
TSR said:
hypocritexposer said:
What do you suggest they provide as payment for what they OWE you?

Should US ranchers provide payment to the citizens of every Country they export beef to?

Where did I say they owed ME anything???

What is the percentage of individual Ranchers that export to foreign countries, in particular those countries overseas? Having said that, since our imports are far more than our exports would we benefit by charging for market access of foreign countries??

it's called a "tariff" and it usually causes retaliation in the form of tariffs on our exports..


Are you not worried about the "cost of living"? How much would these tariffs add to the cost of the product?


"owe you", well yes, are you not part of "America"? so you are asking for some sort of "payment" for access to YOU.
 

TSR

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Steve said:
TSR said:
hypocritexposer said:
What do you suggest they provide as payment for what they OWE you?

Should US ranchers provide payment to the citizens of every Country they export beef to?

Where did I say they owed ME anything???

What is the percentage of individual Ranchers that export to foreign countries, in particular those countries overseas? Having said that, since our imports are far more than our exports would we benefit by charging for market access of foreign countries??

it's called a "tariff" and it usually causes retaliation in the form of tariffs on our exports..

I don't disagree . All things being "equal" since we import more than we export and are the largest consumer market in the world, and are faced with other countries using protective measures such as currency manipulation,etc I think we should consider some form of protection. Of course there would be some retaliation but maybe we should at least get their attention.
 

hypocritexposer

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TSR said:
Steve said:
TSR said:
Where did I say they owed ME anything???

What is the percentage of individual Ranchers that export to foreign countries, in particular those countries overseas? Having said that, since our imports are far more than our exports would we benefit by charging for market access of foreign countries??

it's called a "tariff" and it usually causes retaliation in the form of tariffs on our exports..

I don't disagree . All things being "equal" since we import more than we export and are the largest consumer market in the world, and are faced with other countries using protective measures such as currency manipulation,etc I think we should consider some form of protection. Of course there would be some retaliation but maybe we should at least get their attention.


how much can you raise the price of consumer goods before you are no longer a consumer market? Seriously, the US has got to get back to being a "manufacturing nation" and the quickest way to do that would be to allow repatriation of profits and lower the corporate tax rate.
 

TSR

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A tariff on imported goods would allow US goods to be more competitive. I'm not talking about a drastically high tariff just one to get the attention of some countries that are taking our market for granted. I am not so sure I would call it a tariff, it might just be a charge based on the dollar amount of goods imported. Let them retaliate with a similar charge of their own, since we import more than we export and have the largest consumer market, we should come out the winner. Surely they would feel some pressure. Look at it this way, they have the goods but we have the market.
 

hypocritexposer

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TSR said:
A tariff on imported goods would allow US goods to be more competitive. I'm not talking about a drastically high tariff just one to get the attention of some countries that are taking our market for granted. I am not so sure I would call it a tariff, it might just be a charge based on the dollar amount of goods imported. Let them retaliate with a similar charge of their own, since we import more than we export and have the largest consumer market, we should come out the winner. Surely they would feel some pressure. Look at it this way, they have the goods but we have the market.


What do you mean"market for granted"?


Do they force their products on you, or do you willingly purchase them? How about a tariff on imported oil?


Americans love their cheap Walmart goods, which are cheaper due to manufacturing cost, but also provide jobs at the union docks to the store cashier.

If you manufactured these goods in the US and were to only buy US made goods, you would not be able to afford them......think of the tax that you want to add onto the price, just because a company is making a profit......


It was liberals that pushed for a "global economy" and now that they see what it resulted in, all of a sudden they want something different......

.....More government interference, whether that be global or national



Get back to a "free market"
 

Steve

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TSR said:
A tariff on imported goods would allow US goods to be more competitive. I'm not talking about a drastically high tariff just one to get the attention of some countries that are taking our market for granted.I am not so sure I would call it a tariff, it might just be a charge based on the dollar amount of goods imported. Let them retaliate with a similar charge of their own, since we import more than we export and have the largest consumer market, we should come out the winner. Surely they would feel some pressure. Look at it this way, they have the goods but we have the market.

in the past when markets were closed to US goods due to tariff retaliation, US corporations moved manufacturing operations to the other countries to avoid the import tariffs..


as for what to call it.. a tariff is a tariff.. no matter what you call it...

want a better idea... eliminate US corporate "income" taxes on exports..

( reverse tariff) and not in violation of any existing trade agreements..
 

Tam

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Hey TSR I would love to hear what you think should happen to Jeffery Imelt. Just to refresh your memory to who he is, He is the CEO of GE who sent thousands of jobs to China and banked his profits in a foreign bank so not to have to pay US taxes. And after he did all this Obama appointed him as the Chair of his JOBS COMMITTEE. Oh and he took stimulus money from the Obama team too. SO again what should happen to guys like Old Jeff?
 
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