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Free Trade and the Steel Industry
YouTube ^ | 1978 | Milton Friedman

Posted on 10/09/2011 1:37:52 PM PDT by Toddsterpatriot

Milton Friedman shows the stupidity of tariffs.


TOPICS: Business/Economy
KEYWORDS: economy; global; tariffs; world
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To: Toddsterpatriot

In 2010 the USA produced 80.6 million tonnes of steel.


101 posted on 10/09/2011 4:47:20 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: central_va; driftdiver
The USA is forth in steel production behind China, Japan and the EU.

Quick, tell driftdiver we still make steel.

102 posted on 10/09/2011 4:49:11 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

Only imported oil.

No tax on Texas oil. None on Alaska oil. None for Oklahoma. California. North Dakota Bakken.

None on Gulf of Mexico oil.

See also: Buy American.


103 posted on 10/09/2011 4:50:13 PM PDT by Cringing Negativism Network (Santorum: Plan B to a certain Grizzly.)
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To: central_va
In 2010 the USA produced 80.6 million tonnes of steel.

That's a lot of steel. How much do we use for defense?

104 posted on 10/09/2011 4:50:14 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

It probably makes Free Traitors made that any steel is produced by inefficient US workers. All of those guys should retrain as biophysicists. I mean get real.


105 posted on 10/09/2011 4:51:23 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Toddsterpatriot

Let me ask you a question, how much steel does China produce every year?


106 posted on 10/09/2011 4:52:46 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Cringing Negativism Network; Mase; 1rudeboy
Only imported oil.

No tax on Texas oil. None on Alaska oil. None for Oklahoma. California. North Dakota Bakken.

None on Gulf of Mexico oil.

Awesome. So when imported oil goes from $83 to $166 a barrel, domestic producers will charge how much for a barrel?

107 posted on 10/09/2011 4:52:46 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: central_va

Cool - so your approach is to tax ourselves into prosperity. As long as you know what you’re actually supporting...


108 posted on 10/09/2011 4:54:08 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: central_va

I don’t know, how much?


109 posted on 10/09/2011 4:54:19 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
domestic producers will charge how much for a barrel?

Domestic producers wold be highly motivated to produce more then.

110 posted on 10/09/2011 4:54:28 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Toddsterpatriot

Might be interesting to compare that 2010 steel production volume, with say... 1944.

As a starting point for what might someday be needed in a pinch.


111 posted on 10/09/2011 4:55:03 PM PDT by Cringing Negativism Network (Santorum: Plan B to a certain Grizzly.)
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To: Cringing Negativism Network

I’m just curious why you think we can tax ourselves into prosperity. How raising taxes on US consumers will help our economy.

Of course, you also thought tariffs on imported goods weren’t taxes on US consumers, so maybe you’re not quite sure of what you’re saying...


112 posted on 10/09/2011 4:55:13 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: Toddsterpatriot
I don’t know, how much?

China produces 8 times as much steel as the USA.

113 posted on 10/09/2011 4:56:26 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Toddsterpatriot

Yes, China and India love free trade deals. its helped them build their countries. They aren’t our friends.


114 posted on 10/09/2011 4:56:51 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: central_va

First off, we do NOT have free trade; in fact, we haven’t had free trade ever. We have highly managed trade, we have the tariffs and quotas and restrictions you protectionists want - and it hasn’t worked too well, has it?

Now, about the loss of manufacturing jobs and unions. Is it any surprise that many of those union jobs went overseas? It was simply economically unfeasible to keep them here. It’s either close down altogether and let everything in the chain die, or move some of the production overseas and keep a good portion of the chain.

Of course, you’d rather see the whole system torn down and burn rather than reformed, right?

How do you think we can tax ourselves into prosperity?


115 posted on 10/09/2011 4:57:49 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: FromTheSidelines

Oh. You’re back.

Out buying imported stuff, I’m guessing?


116 posted on 10/09/2011 4:58:32 PM PDT by Cringing Negativism Network (Santorum: Plan B to a certain Grizzly.)
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To: central_va
It probably makes Free Traitors made that any steel is produced by inefficient US workers.

I'll bet US steelworkers are a lot more efficient than they were 30 years ago. More than 20 years ago.

As long as they produce without taxpayer subsidies, more power to them.

You don't think the government should buy US Steel and start cranking up production, regardless of cost, do you?

117 posted on 10/09/2011 4:59:54 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: FromTheSidelines

Just so you know we are Free Traitoring ourselves into economic oblivion and the world is laughing at us.


118 posted on 10/09/2011 5:00:12 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Cringing Negativism Network

No more than you, I bet... What brand computer or cell phone do you have?

And you never want to talk about how your plan is to tax ourselves into prosperity. How giving the Federal Government even more revenue and even more control over our lives is the way to gain liberty and prosperity.

So how are we going to tax ourselves into prosperity? What new business are you going to set up to meet US demand?


119 posted on 10/09/2011 5:01:05 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: central_va
Domestic producers wold be highly motivated to produce more then.

You bet. So answer the question.

120 posted on 10/09/2011 5:01:05 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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