Print

Welcome, Guest

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[NightmarePatrol]

This hit a bunch of financial sites today. Thought I'd share.


 MEADVILLE, Pa., Oct. 20 --  /PRNewswire-USNewswire/ -- The following statement is being issued by W.S. DeArment, President/CEO Channellock, Inc.:

Well, here we go again…The latest from our worthy (?) leadership in Washington, D.C.

It seems that our Congress, led by the Senate Finance Committee Chair, Charles Schumer (D-N.Y.) has decided that the Chinese currency is too weak and is continuing to threaten U.S. jobs and job creation. On that single issue, we can agree. (USA Today article dated 6/10/10). 

In his announcement, Schumer stated that the approach of "asking" the Chinese government to strengthen their currency by Treasury Secretary Timothy Geitner and the Obama administration is too slow. Further, unless they become more aggressive, Congress would "likely pass legislation imposing tough trade sanctions on China." Well, what might those sanctions be?

1) The Chinese currently own over $1 TRILLION of our debt. I doubt we would refuse to sell them any more of our monthly issued debt; otherwise, the U.S. dollar would collapse along with our very fragile U.S. economy. 

2) We might not allow Boeing to sell them any of their aircraft products, or IBM to sell them computer technology and hardware…same for Apple, Google, etc. We might not permit the sale of U.S. steel scrap to them (the Chinese are now the world's largest maker of steel…oh, and cars, too). We might also eliminate the sales of any of our commodity products like wood and coal. But, I doubt any of this will happen, as it would result in large U.S. layoffs. 

3) Congress could impose import duties on Chinese goods coming into our country. (They have "most favored nation status"…very low or no tariffs and duties on their goods coming into the U.S.) That would result in higher prices for our already suffering U.S. consumer…and more than likely, countervailing import duties on U.S. imports going to China. Now, who do you think would win that trade war? I can assure you it will not be the guys waving the red, white and blue flags. 

4) We could impound all Chinese assets in U.S. banks. I suspect that could lead to the Chinese selling off their massive U.S. dollar holdings, collapsing the value of the U.S. dollar and our fragile economy (see #1 above).

I am sure there are other sanctions. But, let us just say that the whole concept of imposing sanctions on our largest debtor, and, at the same time largest supplier of goods, is at first laughable; but, upon further thought, really quite dangerous to the U.S. economy and to consuming public citizens.

We need to spin this whole issue the other way. Why not make our U.S. manufacturers strong and globally competitive with the Chinese manufacturers? This can be done through aggressive tax and commerce policy changes. Get rid of the U.S. Department of Energy (established by President Jimmy Carter to get the U.S. off of foreign oil dependence…How are we doing so far?) and replace it with a U.S. Department of Manufacturing. Its sole purpose would to be an advocate for manufacturing inside our government. 

We must eliminate taxes on dividends, capital gains and estate taxation.

We should create real/effective research and development tax credits, or even grants, for new and exciting technologies.

We must represent U.S. manufacturing in the global marketplace with tough/knowledgeable trade negotiators. (Most favored nation trade status for China and Taiwan is a joke!)

Do this and watch the private sector generate jobs and create economic wealth (called making stuff to be exported to our trading partners, like China, as never before). These would be well-paying, permanent jobs, which our fragile economy desperately needs.

Do this, Sen. Schumer, and you will have the attention and respect of the Chinese along with the rest of the business world.

But, with all due respect, any Congressional or Administration efforts to chastise the Chinese into strengthening their currency by threatening economic sanctions is not the way to go. It is weak and unsupportable. The Chinese will only laugh at us, along with the rest of the global business community. 

It could become very dangerous (a trade war) and, not to mention, just plain embarrassing. For their part, the Obama Administration, led by Timothy Geitner, while under great pressure from Congress, has pushed back against the good Senator and his cohorts. Obama/Geitner are opting to allow the Chinese currency to very gradually strengthen. ("English Aljazeera.net News," 10/15/2010) This still comes under the category of do little/nothing and be controlled by the Chinese. 

We need to be proactive in this matter and provide the tax and policy changes to help our U.S. manufacturers become world class and globally competitive. This would be much better than licking the boots of the Chinese, begging them to buy our debt and hoping their currency strengthens.

SOURCE W.S. DeArment, President/CEO Channellock, Inc.

[Puffin]

No doubt the Chinese are playing currency games, and are single mindedly self interested , but all nations are.
There is no doubt that they are waiting for the election results, so they can lend us the money to pay for the tax cuts promised by this years candidates.
Blameing  China is just kidding ourselves.
The solution to our problem is a balanced budget, and paying off of the crushing National Debt.
Do that and we solve the problems in the economy, SS, International competitivness and taxes all in one shot.

But the candidates want to talk about gays in the military,
mosques, church & state and other things so that they don't have to solve the real problem. 
 
 

[Jayhawk]

Blameing  China is just kidding ourselves.
The solution to our problem is a balanced budget, and paying off of the crushing National Debt.

But the candidates want to talk about gays in the military,
mosques, church & state and other things so that they don't have to solve the real problem.

Good points, all.

As for the statement, why does the solution from business leaders always come down to some form of "there should be no taxes on our profits, dividends or capital gains"? That would leave, oh..., i dunno, individual taxpayers to foot the full cost of government. As if most major businesses aren't already using so many loopholes that the "punitive" tax rates they complain about a moot point because they already pay next to nothing.

[Puffin]

Your right, Neither Corporations nor individuals want to pay taxes. Corporations get heard, individuals mostly don't.
 
 

[Lifetime]

LOL IT'S JUSSSS BUSINESS ...Riiiiiiight... In less than 10 days.... Hillary Clinton will be going to VIETNAM ( Those who know me how I feel about the Government of Vietnam) to discuss NUCLEAR COORDINATION with them.. WHISKEY TANGO FOXTROT!!!
 
http://www.mb.com.ph/articles/282630/two-former-us-congressmen-oppose-part-usvietnam-nuclear-deal
 
I personally know Bill and John. They have always tried to deal with getting back OUR SOLDIERS who, evidence has shown to be alive after we left and some may be alive as you read this. They( the Congressmen) and I were veimently against Normalization of Relations and their inclusion in WTO. Now we want to continue to again... BOW to this Communist Government and deal in Nuclear material and intelligence??? Now go back and see the key.... NORMALIZATION.... It opened the door to American Businesses like Coca-Cola, Electronics, clothing, even Colliers International... REAL ESTATE (note... http://urbanlegends.about.com/library/bl_john_kerry2.htm
 
Always for the DOLLAR, not the PEOPLE.
 
So we cry about doing business with our enemies but really...has any one of you ever checked out the Parking Lot at your local Walmart??? Check you watch for opening times..oh..where was the watch made...and you saw the advertisement on an AMERICAN made TV??? Even the computer you are reading this on is foreign and the Cell Phone vibrating in your pocket.
 
NOW we are expected to reverse this? Well Channellock, Dad's pet food and Henry Rifles are made here... takes care of the tools, food, and protection.... what more do we need LOL.
 
 
 
 

[Zipper]

The USA is in tremendous debt ....France is in debt, England is in debt, Greece.....
We know the "third world" has no money.

What I want to know is... if you have several players sitting at a table at a poker game, and all of them are out of chips and are in debt, who is holding all the money?

[Lifetime]

I like some of the choices.... now you need to buy them. I lived in Hawaii and enjoyed Kona Coffee but...even the Hawaiians bought Folgers, Maxwell Etc. The kids toys are nice but what happens when they get to the age of electronics..and the furniture.... All American Wood. There is always a glitch. Coffee, Wood are commodities sold on the world market. I get a bad taste sometimes when i think as I drink my Folgers that Juan didn't pick all the beans.... but Nguyen might have, on a Vietnamese Mountainside and then added his crop to Brokers Warehouses. My point is...after WWII we damned near made EVERYTHING for a War Torn World.... We were basically the only ones not HIT short of Pearl, Aleutians, and supposed attacks in Jersey and California. WE GAVE it ALL away in less than 50 years and the kicker..... WE rebuilt everyone elses industries but our own. We are still doing it and here we are still discussing this series of events.
 
I want Curtis Mathis building TVs in Texas, I want all my shoes and clothes made here in the Carolinas or Mass... I want my silverware made here...but.... to do that, how much are we willing to do, in order to have that happen... Empty lots at Walmart? Penneys? Radio Shack...? and a plethora of Car lots to include those we thought we strictly domestic...LOL we would be walking. Schwinn..Nahhh not in these United States... Even Harley has parts all over it not made here...hint.... HARLEY NEVER made its own Hydralic front end..think Showa or even Mikuni Hitachi.... Hmmm all sounds Irish to me  . Let us eat our Grapes from Chile or Bananas from??? And who loves Star fruit or Kiwi..even canned corn beef from...Argentina... Where do we start? And most of all, are we willing to start and follow through? I really don't have that much confidence in people doing anything that will be adverse to two things.. income and family and I know some who ignore the latter. We are the Hunters.... not of deer and rabbits, but of the DEAL!!!
 
Please look hard in that mirror....... than may have been made in Indonesia LOL
 

http://madeinusaforever.com/
 
http://www.usacoffeecompany.com/
 
http://www.all-americanbaby.net/
 
http://www.homefurniturefl.com/
 
http://www.lacasacards.com/
 
http://www.konaschips.com/
 
 
http://www.toysofusa.com/
 
http://www.buytankless.com/
 
http://www.allamericanclothing.com/
 
...still a few left... ...

[Lifetime]

The Printer *S*
 
 

The USA is in tremendous debt ....France is in debt, England is in debt, Greece.....
We know the "third world" has no money.

What I want to know is... if you have several players sitting at a table at a poker game, and all of them are out of chips and are in debt, who is holding all the money?

[Amidala]

Lifetime, I hope you realize that many of the food products you listed don't grow in the US because we don't have suitable growing conditions. (duh)  If you want coffee, or chocolate, for that matter, you must get the raw materials from a foreign country. ... ... ... Wait A Minute! Are you suggesting that we take over a tropical country so that we can have coffee and chocolate???

[NightmarePatrol]

Nah, just drink Kona coffee. Chocolate can grow in the US (it came from Mexico and points south originally) but is not mostly produced in Africa by child labor (boycott anyone?) I remember a kid fresh produce was pretty much an "in season" thing in the grocery story. If it wasn't in season it wasn't there or was really spendy.  The US is however is the larget producer of corn. If our excess corn were categorized under another country that country would be the third largest producer of corn.  Lifetime, true cinnamon comes from VietNam, the rest of the world mostly produces cassia that is labelled as cinnamon. The real stuff is much better and pricier.

As much as we detest some aspects of globalization, the world is eating better because if it. The race now is to see who wins at the economic game. We're still the worlds largest economy, but not for too many more decades at the current rate of decline.

[Lifetime]

DUH.... You got it.... not taking over those countries but.... maybe BUY things made here and work towards bringing some of that back..and DUH..I know we don't grow most of that in THE USA but.... We DO have Possessions that just might be able to grow some of them.... Marienas, Virgin Islands American Samoa on and on and on. My question is...would you buy from them? Price just macadamia nuts here and then price them in Hawaii.... Big Difference....whatcha wanna do???
 
GLobalization makes us eat better? Oh really.... My Grandmother ate what came off her and her family's land...meat potatoes and she did buy things like... Flour and sugar ( 2 things our dietitians seem to detest ) Forgive me but my Great Grand Parents and Grand Parents didn't do to bad in the longevity dept and even health up to about the end...and I am pretty sure they didn't eat too many things from other countries. All Globalization did was basically offer variety. We want our Fruits, exotic produce and even seafoods...
 
I really think we COULD eat just what we grow...95% of the time. Cane Sugar isn't just from Cuba... We have Hawaii and Puerto Rico and we have sugar beets is we need it. We always seem to go for the easiest and cheapest. So again...whatcha wanna do? 
 
 
 

Lifetime, I hope you realize that many of the food products you listed don't grow in the US because we don't have suitable growing conditions. (duh)  If you want coffee, or chocolate, for that matter, you must get the raw materials from a foreign country. ... ... ... Wait A Minute! Are you suggesting that we take over a tropical country so that we can have coffee and chocolate? ??

[NightmarePatrol]

We have pretty much switch to corn syrup, it's far cheaper and probably far worse for you.  The US is a very minor producer of cane sugar in the global scheme. Fresh fruit and veggies  in the winder were almost unheard of in our household. The seafood thing is a disgrace. I rarely buy farmed fish. Yeah sure it's "safe" but I still won't do it.

Yes globalization offers variety, but we get fresh grapes in the winter just like the ones that are grown here in the summer. In the summer we export our grapes to the southern hemisphere. There's a great deal of similar cropsgrown in north and south america. No, we don't absolutely "need"  grapes from Chile in December. But then they don't "need" grapes from the US in June. On the other hand, if you want cheap corn and corn products... the US rules the roost.

Anyhow, I think the topic was manufacturing. I think we can agree that most of what we eat comes from the US. What about most of what we buy as consumers? Better than half of what's in my office here at the house didn't come from the US I bet.

[Amidala]

If I bought all local or US produced food, I would not be able to afford other things and I don't want to do that. Do you, really?

[CindyLouWho]

the world is eating better because if it.

Are we eating better?  Than why are we all so freaking fat?  I think we are eating more processed cheap crap is what I think. 

I gave up processed food ALTOGETHER.  It's hard.  I'm a bit hardcore about it.  I dropped 40 pounds like that.  Added going to the gym four days a week after that and  things are looking good.  Feeling good too.

[Lifetime]

Gee...eating better is not the reason we are carrying around a gut and arse...it is that we don't do anything to really burn the crap off.... I remember the Farm Meals.... loaded with eggs, bacon, oatmeal, bread.... potatoes, gravy, beef and chicken with skin... although I am a large man now...when I went to do   "Slave Labor" on my Uncle's farm, I lost weight through work and cousins to run with. No puters and very little TV... lotsa ball, swimming, and of course farm jobs...
 
It isn't so much WHAT is eaten as it is HOW MUCH. If input exceeds output.... look for the bulges. I am a firm believer hat there is nothing wrong with processed as long as it isn't a steady diet...what in hell is a picnic without a nasty hotdog or Braut...even store bought icecream. Even milk can be bad for you if you drink a LOT of it. Fruit is good but..not 4 oranges 3 bananas and a peach or two...it all contains sugars... Balance is the key. We have gotten to be a nation of "LARGER" place settings. Look at the plates now compared to some from a century ago. Some look like platters. Portion size is something to look at... maybe a piece of steak the size of your palm once in a while.... not the whole shank. It is us who did this and we hope it is up to us to correct it and not a Government who wants to regulate our food servings.
 
 

the world is eating better because if it.

Are we eating better?  Than why are we all so freaking fat?  I think we are eating more processed cheap crap is what I think. 

I gave up processed food ALTOGETHER.  It's hard.  I'm a bit hardcore about it.  I dropped 40 pounds like that.  Added going to the gym four days a week after that and  things are looking good.  Feeling good too.