The Briefing Room
General Category => Economy/Business => Topic started by: edpc on August 01, 2019, 05:57:19 pm
-
President Donald Trump said Thursday the U.S. will impose 10% tariffs on $300 billion of Chinese goods beginning Sept. 1. In a tweet, the president said trade talks with Beijing are continuing after U.S. officials returned from negotiations in China. The 10% levies will apply to $300 billion of Chinese goods coming into the U.S. It doesn't include $250 billion of goods already subject to tariffs, the president said. U.S. stocks DJIA, -0.74% turned mostly negative after Trump's announcement.
https://www.marketwatch.com/story/trump-announces-new-tariffs-on-chinese-goods-starting-sept-1-2019-08-01?mod=victor-reklaitis (https://www.marketwatch.com/story/trump-announces-new-tariffs-on-chinese-goods-starting-sept-1-2019-08-01?mod=victor-reklaitis)
-
Trump says the US will slap tariffs on virtually all Chinese imports next month
Gina Heeb
Aug. 1, 2019, 01:51 PM
President Donald Trump said Thursday he would expand tariffs to virtually all imports from China on September 1, marking a significant escalation in a more than yearlong trade war between the largest economies.
Trump announced on Twitter the US would hit China with tariffs on roughly $300 billion worth of its products while the two sides continued trade negotiations. With $250 billion worth of goods already subject to a 25% tariff, the move would place a tax on virtually all shipments from China.
He accused China of reneging just days after high-level negotiations resumed between the two sides, saying it had not yet followed through with pledges to buy more American agricultural products and reduce the flow of fentanyl into the US.
"Additionally, my friend President Xi said that he would stop the sale of Fentanyl to the United States – this never happened, and many Americans continue to die!" Trump said.
more
https://markets.businessinsider.com/news/stocks/trump-china-trade-war-us-imposing-more-tariffs-in-september-2019-8-1028409537
-
Gig'em.
-
Lovely. There goes that great economy he brags about.
-
Trade wars are good, and easy to win **nononono*
-
Trade wars are good, and easy to win **nononono*
Is this a war worth fighting?
-
Is this a war worth fighting?
Good question.
-
Is this a war worth fighting?
IMO if China weren't using the proceeds from the very uneven trade relationship with us, not to mention theft of our technology, to fund global military expansion it would be a harder question to answer.
-
Free Trade is a core economic principle allowing an exchange of goods/services
to occur naturally w/o the imposition/restriction of duties, excises or tariffs.
China's earliest rule was autocratic dynasties from 1500 BC till 1912,
followed by militarists till Mao in 1950 and since, Marxists have been in control.
That Nation and People have never known freedom and creativity, as these
traits are perceived as a mortal threat to their autocratic top down rule.
As a consequence they lie, they cheat and they steal when trading.
Tariffs, warts and all, have been imposed for a direct and simple reason: TO CHANGE BEHAVIOR.
Suggest the sob sisters give it a rest every time some cony capitalist bitches and moans
about his thinner wallet.
-
Free Trade is a core economic principle allowing an exchange of goods/services
to occur naturally w/o the imposition/restriction of duties, excises or tariffs.
China's earliest rule was autocratic dynasties from 1500 BC till 1912,
followed by militarists till Mao in 1950 and since, Marxists have been in control.
That Nation and People have never known freedom and creativity, as these
traits are perceived as a mortal threat to their autocratic top down rule.
As a consequence they lie, they cheat and they steal when trading.
Tariffs, warts and all, have been imposed for a direct and simple reason: TO CHANGE BEHAVIOR.
Suggest the sob sisters give it a rest every time some cony capitalist bitches and moans
about his thinner wallet.
That is it, right there.
-
Gary Cohn bemoans 'dramatic impact' of Trump tariffs
The former top White House economic adviser said that President Trump’s trade wars have had a “dramatic impact†on the U.S. manufacturing sector while doing little to hinder China’s economy.
Gary Cohn, former director of the National Economic Council, told the BBC in an interview aired Thursday that Trump’s tariffs have effectively canceled the benefits of his 2017 corporate tax cut and prevented U.S. manufacturers from expansion.
"When you build plant equipment, you're buying steel, you're buying aluminum, you're buying imported products and then we put tariffs on those, so literally the tax incentive we gave you with one hand was taken away with the other hand,†Cohn told the BBC.
https://thehill.com/policy/finance/455728-gary-cohn-bemoans-dramatic-impact-of-trump-tariffsM
-
Is this a war worth fighting?
Based on China's rampant theft of intellectual property, use of prison labor for manufacturing (lots of persecuted Christians in that group), and the loss of manufacturing the the USA, I think it is worth at least one "war". Upcoming presidents definitely won't be taking a swing at the problem. Trump is sort of a unique "one-off" chance to solve the problem...I doubt Ted Cruz would be taking a big swing at China...not dissing Ted, just an observation.
-
Is slap the only way to begin a tariff?
-
Trump says it's "fine with me" if China doesn't want to trade with the U.S.
President Trump said it's "fine" if the U.S. can't reach a trade agreement with China. "If they don't want to trade with us anymore, that would be fine with me," he told reporters as he left for a campaign rally in Cincinnati Thursday. "We'd save a lot of money," he added.
https://www.cbsnews.com/news/trump-leaves-for-rally-in-ohio-as-stocks-dive-upon-news-of-china-tariffs-live-updates/ (https://www.cbsnews.com/news/trump-leaves-for-rally-in-ohio-as-stocks-dive-upon-news-of-china-tariffs-live-updates/)
That’s not going to sit well with people along I-29.
-
Gary Cohn bemoans 'dramatic impact' of Trump tariffs
The former top White House economic adviser said that President Trump’s trade wars have had a “dramatic impact†on the U.S. manufacturing sector while doing little to hinder China’s economy.
Gary Cohn, former director of the National Economic Council, told the BBC in an interview aired Thursday that Trump’s tariffs have effectively canceled the benefits of his 2017 corporate tax cut and prevented U.S. manufacturers from expansion.
"When you build plant equipment, you're buying steel, you're buying aluminum, you're buying imported products and then we put tariffs on those, so literally the tax incentive we gave you with one hand was taken away with the other hand,†Cohn told the BBC.
https://thehill.com/policy/finance/455728-gary-cohn-bemoans-dramatic-impact-of-trump-tariffsM
---------------------------------------------------
Gary Cohn is the essence of DC; a hustler and shill for the corporate crowd who infest Washington.
He will say or do absolutely anything to remain in good standing w/his paymasters even if it makes
no economic sense!
-
---------------------------------------------------
Gary Cohn is the essence of DC; a hustler and shill for the corporate crowd who infest Washington.
He will say or do absolutely anything to remain in good standing w/his paymasters even if it makes
no economic sense!
Cohen is the one that got the tax cuts, which is what really kickstarted the economy under Trump, in the first place. He fought for those and Ross fought for the tariffs. It’s hurting the admin in the heartland and putting Iowa back in play for the 2020 election. Additionally Ross told shutdown employees to get a loan, f***ed up the census question, can’t negotiate a deal with China, and can’t stay awake in meetings. It’s not hard to see who has been better for the president, as far as economic advice goes.
-
Cohen is the one that got the tax cuts, which is what really kickstarted the economy under Trump, in the first place. He fought for those and Ross fought for the tariffs. It’s hurting the admin in the heartland and putting Iowa back in play for the 2020 election. Additionally Ross told shutdown employees to get a loan, f***ed up the census question, can’t negotiate a deal with China, and can’t stay awake in meetings. It’s not hard to see who has been better for the president, as far as economic advice goes.
----------------------------------
Repeating, Cohn is a DC fraud, hustler and shill for the likes of the C of C and the Business
Round-table, as well as any other crony capitalist who will fatten his wallet.
As for China, the purpose of the tariffs is to change the behavior of their third world
culture/society which has has lying, cheating and stealing since the Shang Dynasty of 1500 BC.
Obviously you had no interest as long as the corporate flunkies had a smile for tee-vee.
Suggest you try getting real.
-
Suggest you try getting real.
Everything I previously mentioned is fairly current and very real.
-
----------------------------------
Repeating, Cohn is a DC fraud, hustler and shill for the likes of the C of C and the Business
Round-table, as well as any other crony capitalist who will fatten his wallet.
As for China, the purpose of the tariffs is to change the behavior of their third world
culture/society which has has lying, cheating and stealing since the Shang Dynasty of 1500 BC.
Obviously you had no interest as long as the corporate flunkies had a smile for tee-vee.
Suggest you try getting real.
Sure thing, Trump is the sole repository of all good economic knowledge. The people who think tariffs are bad, just about everybody else, are all corporate shills.
Or maybe Trump is an economics ignoramus who does some good things, deregulation, and does some dumb things, tariffs, that hurt farmers and other industries.
-
Trump says it's "fine with me" if China doesn't want to trade with the U.S.
President Trump said it's "fine" if the U.S. can't reach a trade agreement with China. "If they don't want to trade with us anymore, that would be fine with me," he told reporters as he left for a campaign rally in Cincinnati Thursday. "We'd save a lot of money," he added.
https://www.cbsnews.com/news/trump-leaves-for-rally-in-ohio-as-stocks-dive-upon-news-of-china-tariffs-live-updates/ (https://www.cbsnews.com/news/trump-leaves-for-rally-in-ohio-as-stocks-dive-upon-news-of-china-tariffs-live-updates/)
That’s not going to sit well with people along I-29.
Or the average American.
-
Everything I previously mentioned is fairly current and very real.
-------------------------------
Fair enough. Peace!
-
-------------------------------
Fair enough. Peace!
:beer:
Incidentally, I don’t believe Cohn isn’t a Wall St loyalist, I just think he was a better advisor on policy than Ross has been.
-
WASHINGTON (Reuters) - As a tense meeting with top advisers on China trade talks ended, President Donald Trump turned to trade adviser Robert Lighthizer and told him to call China to warn that new tariffs were coming, two people familiar with the matter said on Friday.
The request to Lighthizer on Thursday came after Trump abruptly decided to threaten to raise tariffs by 10 percent on another $300 billion in Chinese exports to the United States, after U.S.-Chinese trade talks in Shanghai failed to lead to progress.
Trump was frustrated by the failure to advance the trade agenda during the Shanghai talks, and had gathered his top advisers in the Oval Office to discuss how to proceed.
https://www.yahoo.com/finance/news/trump-instructed-top-aide-call-032818232.html (https://www.yahoo.com/finance/news/trump-instructed-top-aide-call-032818232.html)
-
Is this a war worth fighting?
Yes, but only if we can get that darn deficit under control so we don't have to borrow from them.
-
'I DON'T KNOW WHERE TO BEGIN HERE': NEIL CAVUTO BLASTS TRUMP AFTER FACT-CHECK ON TARIFFS
"Remember this, our country is taking in billions and billions of dollars from China. We never took in ten cents from China," Trump said. "Out of that many billions of dollars, we're taking a part of it and giving it to the farmers because they've been targeted by China. The farmers, they come out totally whole."
[snip]
"Just to be clarifying here, China isn't paying these tariffs, you are," Cavuto said. "You know, indirectly and sometimes directly. It's passed along to you through American distributors and their counterparts in the United States who buy this stuff from the Chinese and then have to pay the surcharges. Not the Chinese government on China in particular.â€
https://www.newsweek.com/i-dont-know-where-begin-here-neil-cavuto-blasts-trump-after-fact-check-tariffs-1452424 (https://www.newsweek.com/i-dont-know-where-begin-here-neil-cavuto-blasts-trump-after-fact-check-tariffs-1452424)
Error 404 (Not Found)!!1 (http://youtube.com/watch?v=BV8cxEIIhCE#)
-
This will have the Bush Crime Family and their Dim associates having a hissy-fit!
This should have been done long ago. I am afraid that we have waited so long to act in our own best interests that it may be too late to restore even half of the factory jobs we lost,thanks to Bush and Clinton working together.
-
Lovely. There goes that great economy he brags about.
@Applewood
Please splain to me how we have a great economy when we are bleeding jobs and dollars every day that passes.
-
Is this a war worth fighting?
@Sanguine
Good or bad depends on your POV. Do you want to see America survive and prosper? Do you want to see your children and grandchildren have jobs to go to here in America in the future?
-
The former top White House economic adviser said that President Trump’s trade wars have had a “dramatic impact†on the U.S. manufacturing sector while doing little to hinder China’s economy.
Gary Cohn, former director of the National Economic Council, told the BBC in an interview aired Thursday that Trump’s tariffs have effectively canceled the benefits of his 2017 corporate tax cut and prevented U.S. manufacturers from expansion.
@edpc
BIG BLEEPING DEAL! Corporations are just one more example of selfish dictatorial rule,very much like communism. ALL they care about is profits. Nothing else,not even the survival of the country.
If you want a fair historical comparison for educational purposes,you can use the early days of WW-2 in Europe for a perfect example. Nazi Germany and the Soviet Union were allies,with a mutual aggression treaty. Stalin even leased large areas inside the USSR to the Nazi's in the 1930's so they would have a place to develop their war machine and tactics in secrecy.
The Nazi's only became evil in the eyes of the Soviets and their leftist allies all over the world (including the Roosevelt White House) AFTER invading the USSR. Suddenly,the Nazi's became "evil bastards that need to be wiped out,beginning tomorrow!"
It is they who are responsible for the push towards globalism and a Global World Government.
Bitch slap them until they cry,and then do it some more,just for the fun of it.
-
Trump says it's "fine with me" if China doesn't want to trade with the U.S.
That’s not going to sit well with people along I-29.
@edpc
That's ok. They can always move to China.
-
Please splain to me how we have a great economy when we are bleeding jobs and dollars every day that passes.
Let the former Trump administration economic advisor, Gary Cohn, who resigned over the tariff policy, explain it.
"I think everyone loses in a trade war. We are an 80% service economy. The service side of the economy is doing very well, because, guess what, it's not being tariffed."
https://www.bbc.com/news/business-49187126?intlink_from_url=&link_location=live-reporting-story (https://www.bbc.com/news/business-49187126?intlink_from_url=&link_location=live-reporting-story)
-
---------------------------------------------------
Gary Cohn is the essence of DC; a hustler and shill for the corporate crowd who infest Washington.
He will say or do absolutely anything to remain in good standing w/his paymasters even if it makes
no economic sense!
@Absalom
He is nothing more than a male whore being pimped out by the globalists.
I would pay money to get to see him on tv being asked "Isn't it true that you and people like you pushed for VERY low tariffs on Chinese steel and other goods so you could import them into the country at a price where you could undercut US steel manufacturers to the point where they would go out of business?
Is't it also true that you and your masters played the stock market to profit on the collapse of US industry?
Isn't it also try that THIS is the reason the problems you just quoted are happening today?"
-
Or the average American.
@kevindavis
The average American these days seems too stupid to pour piss out of a boot without a video to show him how,and someone to operate the video for him.
When you keep voting "me,me,ME,DAMMIT",pretty soon you have no "we,the people".
-
Yes, but only if we can get that darn deficit under control so we don't have to borrow from them.
@jmyrlefuller
The Chinese have came to the understanding that "Corporatism" is nothing more than a finely tuned,highly advanced form of Communism.
If WE don't also come to accept and understand this,pretty soon they will own us outright,and the Bill of Rights will disappear as they make us a part of the Chinese Borg.
-
@Sanguine
Good or bad depends on your POV. Do you want to see America survive and prosper? Do you want to see your children and grandchildren have jobs to go to here in America in the future?
So you're saying we should fight it now before the stakes get any higher.
-
Corporations are just one more example of selfish dictatorial rule,very much like communism. ALL they care about is profits.
What a shock. That's their purpose - provide a product or service and make the maximum profit they can.
-
@Applewood
Please splain to me how we have a great economy when we are bleeding jobs and dollars every day that passes.
Contrary to Trump's promise, these tarriffs are not going to bring back the manufacturing jobs -- at least not on the scale this country saw up until the 70's and 80's. Greedy unions killed those jobs. Once companies realized they could make a product overseas for a lot less money, they told the unions to go *bleep* themselves. Now that Trump has made manufacturing in China less palatable, many companies are moving their operations elsewhere -- but not here in the US.
About all these tarriffs are going to do is make life difficult for companies dealing with China, increase the cost of most consumer goods and wreck pension plans and retirement nest eggs. This supposedly wonderful economy which Trump and his supporters rave about is already showing signs of cracking and the more Trump forces these tarriffs, the wider the cracks are going to be. Perhaps when this trade war hits you in the wallet, maybe you will understand what I'm saying.
-
Now that Trump has made manufacturing in China less palatable, many companies are moving their operations elsewhere -- but not here in the US.
The Trump administration has not failed to notice that its import levies have been shifting global commerce in Vietnam’s direction. The Treasury has put Hanoi on a watch list for manipulating the value of the Vietnamese currency, the dong, to help exporters. Mr. Trump suggested last month that Vietnam might be the next target for punitive tariffs, calling the country “almost the single worst abuser of everybody.â€
https://www.nytimes.com/2019/07/30/technology/trump-trade-war-vietnam.html (https://www.nytimes.com/2019/07/30/technology/trump-trade-war-vietnam.html)
Soon, we'll be in a tariff/trade war with everyone.
-
What a shock. That's their purpose - provide a product or service and make the maximum profit they can.
All the while, investors are shielded from liability by the federal government's protection. All the bennies, none of the risk. "Capitalism." Bailouts. Too big to fail.
As far as I'm concerned, pierce the veil.
-
@kevindavis
The average American these days seems too stupid to pour piss out of a boot without a video to show him how,and someone to operate the video for him.
When you keep voting "me,me,ME,DAMMIT",pretty soon you have no "we,the people".
@sneakypete
So I would be a selfish *bleep* for wanting to buy products I can afford instead of overpriced made in America junk (that is, if I can find products made in the USA).
Not sure what you are advocating, but it isn't capitalism.
-
@sneakypete
So I would be a selfish *bleep* for wanting to buy products I can afford instead of overpriced made in America junk (that is, if I can find products made in the USA).
Not sure what you are advocating, but it isn't capitalism.
@Applewood
WAY TO SPIN! You ask a loaded question and then want me to agree with your premise so it would justify/excuse your anti-American selfishness.
Capitalism is not a system of government. It cares nothing about anyone or anything but profits. There is no right or wrong other than profits. Strictly speaking,pure Capitalism would celebrate selling poisonous baby food if it made more profit than selling non-poisonous baby food.
This IS why GOVERNMENT is supposed to control Capitalism instead of Capitalism controlling government.
-
@Applewood
WAY TO SPIN! You ask a loaded question and then want me to agree with your premise so it would justify/excuse your anti-American selfishness.
Capitalism is not a system of government. It cares nothing about anyone or anything but profits. There is no right or wrong other than profits. Strictly speaking,pure Capitalism would celebrate selling poisonous baby food if it made more profit than selling non-poisonous baby food.
This IS why GOVERNMENT is supposed to control Capitalism instead of Capitalism controlling government.
@sneakypete
Spinning? I was just trying to figure out what the H you were trying to say.
In the above-quoted post, you now seem to be saying you are against capitalism. I hope I'm wrong because if you really want government control of business, then IMHO you are subscribing to communism. And if that's the case, then you aren't a conservative -- again, IMHO.
Please help me understand what you are trying to say here. My pea brain just can't figure it out.
-
@Absalom
He is nothing more than a male whore being pimped out by the globalists.
I would pay money to get to see him on tv being asked "Isn't it true that you and people like you pushed for VERY low tariffs on Chinese steel and other goods so you could import them into the country at a price where you could undercut US steel manufacturers to the point where they would go out of business?
Is't it also true that you and your masters played the stock market to profit on the collapse of US industry?
Isn't it also try that THIS is the reason the problems you just quoted are happening today?"
------------------------------
On the money.
These types have been all over tee-vee for generations peddling the same
malarkey; "We know how to improve mankind so he will thrive. Trust us."
A wise Scot understood that Capitalism would produce material betterment
as well as require Man to work cooperatively for the mutual benefit of many.
Yet he also understood that greed and self-interest were drivers of Capitalism
and knew that only the unchanging moral principles Natural Law, anchored
by a spiritual sense, would keep the latter in check.
Some 250 years after Adam Smith; the material has become far ascendant
over the spiritual in our daily lives, as our so called Art confirms.
-
@sneakypete
Spinning? I was just trying to figure out what the H you were trying to say.
In the above-quoted post, you now seem to be saying you are against capitalism.
Damn right I am! So were the Founding Fathers,which is why corporations and businesses come under the control of the government. Or are supposed to,anyway. These days it seems like the corporations and Wall Street control the government.
I hope I'm wrong because if you really want government control of business, then IMHO you are subscribing to communism.
I am not trying to be insulting,but you really need to get a better understanding of the nature of capitalism,and the way our government was set up to deal with businesses.
And if that's the case, then you aren't a conservative -- again, IMHO.
If you were right America would be a Fascist state. The sad,sad truth is that the problems in America today are directly related to international banking and businesses,and our politicians selling out American jobs and sovereignty for personal profits.
Give it another ten years or so,and you WILL be right
Please help me understand what you are trying to say here. My pea brain just can't figure it out.
Chemo brain won't allow me to remember the correct phrase now,but there is a name for the economic system that was created when America was formed,and it describes an economic system that grants the government oversight on what private and corporate business can,and can not do.
The problems we have been having the last couple of decades are directly related to the government no longer doing that job because the international corporations have bought them out using stock options and board seats for wives and other relatives. Once this happens,the politician has a personal interest in the profits of that corporation,and will do nothing to reign them back in when they start to do something harmful to the American economy,but profitable for them and the corporation they are carrying water for.
A perfect example of this is semi-recent history.
China opened up to foreign markets for the first time in history. Opened up to both buying off the open market,and selling to anyone that wanted their goods.
Poppy Bush was President at the time,and prior to becoming President he had been both the First U S Ambassador to China,and the head of the CIA. He knew ALL the people in power in China personally,so he immediately sends his uncle Prescott Bush to China to open the "Chinese-American Chamber of Commerce,with Uncle Prescott as President. There are also Chinese board members.
At about that time,Wal-Mart was on full-frontal assault to open a Wal-Mart on every corner in America. Ironically enough,their prime advertising campaign to counter claims they were taking over the market and filling it with cheap goods was,"98 percent of our products were American made!"
Wal-Mart has it's headquarters in Arkansas. Guess who was the governor of Arkansas at the time? If you guessed Billy Bob Clinton,give yourself a hand.
Guess who was given a board seat on the Wal-Mart board of directors based entirely on her combined business experience of "none at all"? If you guessed Bubbette! Clinton,give yourself another slap on the back.
Suddenly,for no reasons that have ever been explained to anyone,Wal-Mart is importing shiploads of Chinese junk into the US,and even getting some sort of special trade status that saves them money.
Go figure.
Yet,oddly enough,it seems that no congressional or Senatorial committee has ever investigated any of this.
THAT is what happens when government doesn't serve their watchdog role when it comes to businesses.
Government in this country is supposed to exist to serve and protect the people.
Businesses exist SOLELY to make a profit.
Does it make any sense now?
-
@sneakypete
Well, my pea brain is tired, so I'm going to have to look a little closer at what you have written when my brain has been refreshed.
Offhand though, I'm wondering where in the Constitution did the Founders give the federal government dominion over business. Seems to me that would be one power the Founding Fathers did not want the federal government to have. I always thought the Founders believed in a limited, small government and putting government in charge of business seems to contradict that.
Anyway, I'll get back to you on this. Spent way too much time looking for info on the latest mass shooting in El Paso to think about this all now. happy77
-
The Trump administration has not failed to notice that its import levies have been shifting global commerce in Vietnam’s direction. The Treasury has put Hanoi on a watch list for manipulating the value of the Vietnamese currency, the dong, to help exporters. Mr. Trump suggested last month that Vietnam might be the next target for punitive tariffs, calling the country “almost the single worst abuser of everybody.â€
https://www.nytimes.com/2019/07/30/technology/trump-trade-war-vietnam.html (https://www.nytimes.com/2019/07/30/technology/trump-trade-war-vietnam.html)
Soon, we'll be in a tariff/trade war with everyone.
I thought we were already. According to Trump, because we didn't levy as many tariffs as we should have, we're now a third world country. In fact, we've always been a third world country....probably the poorest country in the world because every other country took advantage of us. 8888crybaby That's what Trump said. Even Burkina Faso took advantage of us and is now a first world country why we languish in last place. We're worse off than Haiti. At least that's what the great economic genius Donald H. Trump says. Obviously, more tariffs are needed...especially on devious countries like Haiti and Burkina Faso who constantly take advantage of us and laugh at us. And lie about us too. Lying and laughing.
I don't know about you, but I'm sick of being in last place 9999hair out0000 because we haven't placed enough tariffs on other countries. :tongue2:
-
Damn right I am! So were the Founding Fathers,which is why corporations and businesses come under the control of the government. Or are supposed to,anyway. These days it seems like the corporations and Wall Street control the government.
I am not trying to be insulting,but you really need to get a better understanding of the nature of capitalism,and the way our government was set up to deal with businesses.
If you were right America would be a Fascist state. The sad,sad truth is that the problems in America today are directly related to international banking and businesses,and our politicians selling out American jobs and sovereignty for personal profits.
Give it another ten years or so,and you WILL be right
Chemo brain won't allow me to remember the correct phrase now,but there is a name for the economic system that was created when America was formed,and it describes an economic system that grants the government oversight on what private and corporate business can,and can not do.
The problems we have been having the last couple of decades are directly related to the government no longer doing that job because the international corporations have bought them out using stock options and board seats for wives and other relatives. Once this happens,the politician has a personal interest in the profits of that corporation,and will do nothing to reign them back in when they start to do something harmful to the American economy,but profitable for them and the corporation they are carrying water for.
A perfect example of this is semi-recent history.
China opened up to foreign markets for the first time in history. Opened up to both buying off the open market,and selling to anyone that wanted their goods.
Poppy Bush was President at the time,and prior to becoming President he had been both the First U S Ambassador to China,and the head of the CIA. He knew ALL the people in power in China personally,so he immediately sends his uncle Prescott Bush to China to open the "Chinese-American Chamber of Commerce,with Uncle Prescott as President. There are also Chinese board members.
At about that time,Wal-Mart was on full-frontal assault to open a Wal-Mart on every corner in America. Ironically enough,their prime advertising campaign to counter claims they were taking over the market and filling it with cheap goods was,"98 percent of our products were American made!"
Wal-Mart has it's headquarters in Arkansas. Guess who was the governor of Arkansas at the time? If you guessed Billy Bob Clinton,give yourself a hand.
Guess who was given a board seat on the Wal-Mart board of directors based entirely on her combined business experience of "none at all"? If you guessed Bubbette! Clinton,give yourself another slap on the back.
Suddenly,for no reasons that have ever been explained to anyone,Wal-Mart is importing shiploads of Chinese junk into the US,and even getting some sort of special trade status that saves them money.
Go figure.
Yet,oddly enough,it seems that no congressional or Senatorial committee has ever investigated any of this.
THAT is what happens when government doesn't serve their watchdog role when it comes to businesses.
Government in this country is supposed to exist to serve and protect the people.
Businesses exist SOLELY to make a profit.
Does it make any sense now?
-----------------------------------
Indeed, you certainly nailed the crony capitalist frauds.
Was the economic system you were searching for called Mercantilism???
-
-----------------------------------
Indeed, you certainly nailed the crony capitalist frauds.
Was the economic system you were searching for called Mercantilism???
@Absalom
No,and it is frustrating as hell to not be able to remember it. It's like seeing somebody you know and having their name on the tip of your tongue,but just not being able to put it together.
There is a term that was created specifically to define what I am talking about. Anyone that has ever taken any college classes in business knows it. Anyone but me,apparently.