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Trade and Tea Party: Not exactly a happy couple
FORTUNE ^ | November 1, 2010 | Tory Newmyer with Jennifer Liberto

Posted on 11/02/2010 5:11:48 AM PDT by expat_panama

Big business interests are hopeful that a Republican takeover of the House -- now looking more likely than not -- will thaw free-trade deals that have languished since President Obama took office. Those agreements are on a short list of priorities the White House has in common with GOP leaders.

But a rising protectionist tide brought about by the sour economy is threatening to complicate the task. And business groups in Washington are already preparing for the possibility that a new Republican majority stocked with populists from Rust Belt districts and beyond will present a less receptive audience than they once anticipated.

"We're going to have our work cut out for us," says Christopher Wenk, the senior director of international policy at the U.S. Chamber of Commerce.

Even under the current Congress, Republicans have proven more inclined to register protectionist sentiment. That was on stark display in late September, when 99 Republicans joined 249 Democrats in approving a measure to strengthen the administration's hand in pushing the Chinese to let their currency rise.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: business; protection; teaparty; trade
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1 posted on 11/02/2010 5:11:51 AM PDT by expat_panama
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To: expat_panama

I am all for free and unfettered trade, so long as our trading partners exercise the same policies. But China, India, and others do not.


2 posted on 11/02/2010 5:16:52 AM PDT by Thane_Banquo (Mitt Romney: He's from Harvard, and he's here to help.)
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To: Toddsterpatriot; 1rudeboy; Mase; AdmSmith; Arthur Wildfire! March; Berosus; bigheadfred; ColdOne; ..

The plot thickens....


3 posted on 11/02/2010 5:17:51 AM PDT by expat_panama
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To: expat_panama

Oh please. The next you know we will be told that NOT subsidising corporations is “anti-business”


4 posted on 11/02/2010 5:20:02 AM PDT by GeronL (http://libertyfic.proboards.com <--- My Fiction/ Science Fiction Board)
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To: Thane_Banquo

Exactly, it seems like there’s not a square foot of foreign soil that we don’t already give preferential treatment in trade already. If the country isn’t using undervalued currency or subsidizing certain industries, we’re giving them foreign aid.


5 posted on 11/02/2010 5:21:12 AM PDT by freedomfiter2
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To: Thane_Banquo
"...for free and unfettered trade, so long as..."

LOL, unlimited but with limits!   That's like saying 'I'm in favor of heterosexual marriage only when women act like men'.  The fact that in real life partners will never behave exactly as we do means that you can be anti-business and deny it at the same time.

6 posted on 11/02/2010 5:24:32 AM PDT by expat_panama
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To: Thane_Banquo

Seems to me that the tea party mindset will facilitate easier manufacturing which leads to jobs and even more trade.

How anyone could oppose that is beyond me.


7 posted on 11/02/2010 5:26:51 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: expat_panama

Everyone has a different definition of “free trade.”

I, for one, support penalizing a company with a tariff if they are HQ’d in America, selling at a profit mainly to Americans, and enjoy a stable society in which to plan and enjoy business thanks to the US taxpayer...who then fires all their American employees and hires them overseas at a fraction of the cost.

And before you go on about your “broken window” theories and how they are just responding to excessive taxation and fines...I’m aware of all that. I’ve studied this situation for years.

Free trade begins at home. If a government is punishment business for whatever reason (Al Gore and his eco-fascists or whatever), that is NOT free trade.

But I am so sick of offshoring and on-shore offshoring and watching good people get canned because they dared to follow the American dream and work hard and capitalize on their skills and who dared to adopt a non-third-world living standard that I’m ready to tell those companies either go to Hell or charge them so much it is no longer profitable to fire Americans just to tweak their bottom line.


8 posted on 11/02/2010 5:30:32 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: expat_panama
Those agreements are on a short list of priorities the White House has in common with GOP leaders.

Right there are two of the biggest hurdles that must be eliminated if we ever hope to put America back on the track to success:

- The current White House resident and his comrades

- Current GOP Leaders


9 posted on 11/02/2010 5:31:43 AM PDT by Iron Munro (This is our culture; fight for it. This is our flag; pick it up. This is our country; take it back.)
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To: expat_panama

Indeed part of the deep appeal the Tea Party has, is that they do NOT represent the globalist, America-last RINOs.

America FIRST.

No more outsourcing. No more “globalism”.

America.


10 posted on 11/02/2010 5:32:04 AM PDT by Cringing Negativism Network (GOP establishment are dinosaurs. Tea Party is a great big asteroid...)
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To: GeronL
"....NOT subsidising corporations is “anti-business”

Bingo!  I'm remembering an '08 advertisement Obama paid for in Texas where he attempted to counter the understanding that he was anti-military --by saying he was in favor of spending hikes for VA and GI benefits.  

Helping the military by encouraging service personnel to leave...

11 posted on 11/02/2010 5:32:31 AM PDT by expat_panama
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To: expat_panama

No, I’m not talking about the usual kinds of imperfections in a trading partner’s policies. I’m talking about widespread abuse and “beggar they neighbor” trading policy. It means that in certain instances you respond with strength to anti_competitive behavior. Examples would be to threaten sanctions against China unless they stop currency manipulation and copyright/patent violations. You cannot just sit and let another nation literally steal from you.

Lately, though, we have done just that because the limousine liberals who run our largest corporations in this country are so desparate to exploit the 1.2 billion slaves in China, supported by China’s totalitarian regime.


12 posted on 11/02/2010 5:34:41 AM PDT by Thane_Banquo (Mitt Romney: He's from Harvard, and he's here to help.)
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To: Ghost of Philip Marlowe

To some extent I agree, but if those good people at home want to enjoy the American dream, the first step is for them to stop electing socialists who force our businesses overseas with excessive taxation and regulation.

The next step is for our country to adopt shareholder rights’ legislation that will enable stockholders to kick out the limousine liberal corporate executives who are destroying America’s largest businesses, and the country by extension


13 posted on 11/02/2010 5:38:00 AM PDT by Thane_Banquo (Mitt Romney: He's from Harvard, and he's here to help.)
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To: expat_panama

Fortune’s concept of a pre-election Tea Party hit piece? Every wrinkle in the road is being thrown at the Tea Party while they cower from Lord Obummer. Horse Pucky! Tea Party is and has always been “Lets get our Federal Government to do the things it’s supposed to do not the things it decides to do.” International trade agreements and working to make America come out on top appears to be something they are supposed to do. The how starts in January or maybe April after some much needed house cleaning...


14 posted on 11/02/2010 5:39:57 AM PDT by Steamburg (The contents of your wallet is the only language Politicians understand.)
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To: expat_panama

Tariffs and duties should be to raise revenue, period. The lose cost of imports helps keep me in business. I don’t want to become unemployed because knuckleheads think that subsidizing overpaid union thugs is patriotic.


15 posted on 11/02/2010 5:41:00 AM PDT by Daveinyork
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To: expat_panama
It's quite a leap of faith to go from:

"Trade and Tea Party: Not exactly a happy couple"

To

"Republicans have proven more inclined to register protectionist sentiment."

And what I'm talking about, it took two people - Tory Newmyer with Jennifer Liberto (FORTUNE Magazine) to come up with that leap of...tripe.

I looked all OVER my ballot and did not see the word "Tea" anywhere on it. And insofar as all Republicans are not part of the Tea Party Movement, and all Tea Party folks are NOT Republicans, that's a S T R E T C H for Tony and Jenny to make.

Hey guys...the election is TODAY...to late for your little TPM haymaker to even come close to working.

But the TPM lives rent free inside liberals' heads. There were some signs at the recent rock fest in DC that indicated that some liberals will never dring tea again because of the TPM...too funny. But it's been said that liberalism is a mental disease...and I believe it.


16 posted on 11/02/2010 5:43:51 AM PDT by FrankR (November 2nd is NOT an election - it's a RESTRAINING ORDER.....VOTE!)
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To: Thane_Banquo

We have not disagreed. And I am aware of all the socialist policies that encourage and enable bad business. And, of course, those very same socialists then turn around and blame capitalism for bad business.

We need a whole lot of fixes.


17 posted on 11/02/2010 5:44:38 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: Daveinyork

The longer we keep sending our jobs overseas, the less “low cost” all those imports will be.

Gradually they will increase in cost, and all those “low-cost” manual labor workers will become competent, leading edge technological experts with all of what were once America’s best jobs. Sapping America not only of our jobs, and our abilities, but all of what remains of our money. And our technology.

Leaving once-great manufacturing powerhouse America, a backward, jobless, broke and broken shadow of our once-magnificent nation.

Then who will be the knucklehead?


18 posted on 11/02/2010 5:47:23 AM PDT by Cringing Negativism Network (GOP establishment are dinosaurs. Tea Party is a great big asteroid...)
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To: expat_panama

Lol, people who support all these one-sided trade deals always work the slur word “protectionist” into their articles as often as possible, just as the Reverends Jesse and Al drop the “racism” accusation every other sentence.

Some things never change, but the great unwashed have caught on to the fact that these one-sided trade agreements are nothing but a sell out of the US for the benefit of a few. It’s long past time that the US stopped opening its markets to nations that use every trick in the book to keep theirs closed.


19 posted on 11/02/2010 5:47:47 AM PDT by Will88
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To: Cringing Negativism Network

Sounds like the globalist free traders have become so reliant on the over taxation, over regulation, and over unionization excuses that they can’t give them up. The tea partiers oppose the exact same things so it makes zero sense to worry about how we will impact trade.


20 posted on 11/02/2010 5:49:23 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: Cringing Negativism Network; All

Well they don’t represent socialist like you.. Comrade..


21 posted on 11/02/2010 5:54:37 AM PDT by KevinDavis (President Obama: The Crybaby in Chief...)
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To: cripplecreek

“Free Trade”. = RINOS. = Karl Rove. = La Raza.

The anti-American boondoggle now known as “free trade” represents everything WRONG with the Republican Party.


22 posted on 11/02/2010 5:55:36 AM PDT by Cringing Negativism Network (GOP establishment are dinosaurs. Tea Party is a great big asteroid...)
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To: KevinDavis

Ah. The commie card.

You do realize don’t you - we have a massive, one-way 50 billion dollar a month bilateral trade deficit with the largest Marxist nation in world history.

Money which is directly being used to (rapidly) build up that Marxist nation’s huge and ever more capable military forces to eventually perhaps be used against us, and against freedom.

Right? Comrade...


23 posted on 11/02/2010 5:58:56 AM PDT by Cringing Negativism Network (GOP establishment are dinosaurs. Tea Party is a great big asteroid...)
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To: Thane_Banquo
the first step is for them to stop electing socialists who force our businesses overseas with excessive taxation and regulation

Exactly. In addition, end the deficit spending. The only reason China can maintain its low currency exchange rate is because the U.S. Government borrows back all the money we send over. If that money had to be exchanged on the open market, prices for chinese junk would sky-rocket.

I'm a for free trade - I resent anyone telling me who I can and cannot do business with. Free trade is beneficial for both parties, therefore I can see restriction for trading with our enemies when national security is an issue. We just have to accept the consequential economic harm those restriction bring.

24 posted on 11/02/2010 6:00:10 AM PDT by ALPAPilot
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To: ALPAPilot
I'm a for free trade - I resent anyone telling me who I can and cannot do business with. Free trade is beneficial for both parties,
25 posted on 11/02/2010 6:12:37 AM PDT by Will88
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To: Cringing Negativism Network

“The longer we keep sending our jobs overseas, the less “low cost” all those imports will be.”

In the meantime, I’d like to keep making a living and employing a staff, and not subsidizing overpaid union thugs, who keep telling us that subsidizing them is patriotic.


26 posted on 11/02/2010 6:22:35 AM PDT by Daveinyork
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To: Ghost of Philip Marlowe
I, for one, support penalizing a company with a tariff if they are HQ’d in America, selling at a profit mainly to Americans, and enjoy a stable society in which to plan and enjoy business thanks to the US taxpayer...who then fires all their American employees and hires them overseas at a fraction of the cost.

Or we could stick them with the highest corporate taxes in the world. And then pile on more and more regulations. That'll make them keep their HQ in the US as well as hire more US workers.

Because we've seen how difficult it is to open an HQ in Bermuda and avoid half of our government BS.

27 posted on 11/02/2010 6:35:01 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

Hey, again, Toddster. Long time, no flame.

What difference would it make at this point? Hurt our manufacturing base? Hurt our exports? Hurt our cost as consumers? Ha.

Let them go. Eff them. That’s their attitude toward us.


28 posted on 11/02/2010 6:40:45 AM PDT by Ghost of Philip Marlowe (Prepare for survival.)
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To: Ghost of Philip Marlowe
I, for one, support penalizing a company with a tariff if they are HQ’d in America, selling at a profit mainly to Americans, and enjoy a stable society in which to plan and enjoy business thanks to the US taxpayer...who then fires all their American employees and hires them overseas at a fraction of the cost.

Agreed. Incentives and less regulation/taxes to employ American workers and stiff, on-going penalties for out-sourcing to foreign countries.

High profits with high American employment with high wages should be the policy goal. But how you keep employers from being to greedy, employees from being too lazy, and politicians from being too corrupt is the problem.

29 posted on 11/02/2010 6:42:14 AM PDT by DTogo (High time to bring back the Sons of Liberty !!)
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To: cripplecreek
Sounds like the globalist free traders have become so reliant on the over taxation, over regulation, and over unionization excuses that they can’t give them up.

I don't know about anyone else, but I'll stop complaining about the over taxation, over regulation, and over unionization until they're eliminated.

30 posted on 11/02/2010 6:43:07 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
until WHEN they're eliminated.
31 posted on 11/02/2010 6:44:57 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Will88
the slur word “protectionist”

It's strange that anyone would consider it wrong to be seen as wanting to protect America.   The problem may be one of focusing on personalities when we should be focusing on issues.  I mean, everyone wants a strong America and everyone wants freedom.  Not everyone wants import tax hikes.

32 posted on 11/02/2010 6:48:39 AM PDT by expat_panama
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To: Cringing Negativism Network; KevinDavis
we have a massive, one-way 50 billion dollar a month bilateral trade deficit

Bad math, the last refuge of the scoundrel.

33 posted on 11/02/2010 6:51:37 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Ghost of Philip Marlowe
What difference would it make at this point?

What difference do our highest in the world corporate taxes make?

Hurt our manufacturing base?

Yes, our high taxes hurt our manufacturing base.

Hurt our exports?

Yes, our high taxes hurt our exports.

Hurt our cost as consumers?

Yes, our high taxes hurt our consumers.

Let them go. Eff them.

I'd rather not tell our manufacturers, exporters, consumers and workers to eff off.

34 posted on 11/02/2010 6:56:51 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: expat_panama
It's strange that anyone would consider it wrong to be seen as wanting to protect America.

It's strange that you totally twist and distort the meaning and use of the slur word "protectionist". It just a cheap slur like "racism", used by people who excuse all these one-sided trade agreements, to avoid any real discussion of the issues.

And the only things being "traded" between most of Asia and the US is American jobs, manufacturing facilities and processes, for cheap labor, lax regulation and access back to the US market.

35 posted on 11/02/2010 7:00:40 AM PDT by Will88
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To: Daveinyork
"....knuckleheads think that subsidizing overpaid union thugs is patriotic..."

Nicely put.

36 posted on 11/02/2010 7:04:04 AM PDT by expat_panama
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To: expat_panama

Or like saying “limited free will.”


37 posted on 11/02/2010 7:06:12 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: Will88
you totally twist and distort

Like I said, the problem is we face serious issues and too many are just focusing on personalities.

38 posted on 11/02/2010 7:07:39 AM PDT by expat_panama
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To: OneWingedShark
like saying “limited free will.”

--or 'just a little bit pregnant'.

39 posted on 11/02/2010 7:11:22 AM PDT by expat_panama
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To: cripplecreek; Toddsterpatriot
free traders have become so reliant on the over taxation

OK, you've made me agree with you.  I'm denouncing the free traders and we can now join forces and cut import taxes.

40 posted on 11/02/2010 7:16:54 AM PDT by expat_panama
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To: expat_panama
Like I said, the problem is we face serious issues and too many are just focusing on personalities.

Lol, it's hardly a problem of personalities. The American people have been lied to about the 'benefits' of our one-sided trade policies for at least fifty years. One of the best things that could come out of the Tea Party movement in the near future would be an objective look at the results of the one-sided trade arrangements, and our mushrooming trade deficits, and budget deficits, and unemployment, etc.

Time to ignore the globalists' rhetoric and evaluate the results.

41 posted on 11/02/2010 7:36:50 AM PDT by Will88
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To: expat_panama

We can huff and puff and beat our patriotic chests, but at the end of the day, tariffs are taxes, and just like other business taxes, they contribute to a lowering of GDP.


42 posted on 11/02/2010 7:50:18 AM PDT by RightInEastLansing
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To: Thane_Banquo
China unless they stop currency manipulation

Because currency manipulation worked out so well for the Japanese?

....largest corporations in this country are so desparate to exploit the 1.2 billion slaves in China

Slaves earn wages? Who knew?

43 posted on 11/02/2010 7:55:45 AM PDT by Mase (Save me from the people who would save me from myself!)
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To: RightInEastLansing

“We can huff and puff and beat our patriotic chests, but at the end of the day, tariffs are taxes, and just like other business taxes, they contribute to a lowering of GDP.”

-

Actually China, and even most of our so-called trading “partners” all have (far) more tariffs and trade barriers than we do.

Seems to be working for them, actually.

Perhaps it is our approach, which is fundamentally flawed.

Perhaps selling our jobs and technology blindly, to nations which very methodically advance their own countries strategically by taking advantage of that, is naive.

Dumb even.


44 posted on 11/02/2010 8:01:16 AM PDT by Cringing Negativism Network (GOP establishment are dinosaurs. Tea Party is a great big asteroid...)
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To: Will88
it's hardly a problem of personalities

Exactly, our real problems are issues like excessive taxes.  So how about we start tax-cutting by eliminating taxes on imports?

45 posted on 11/02/2010 8:02:11 AM PDT by expat_panama
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To: Will88
our mushrooming trade deficits, and budget deficits,

Our trade deficit is caused more by our budget deficit than than the lack of import duties or quotas. If Beijing can keep buying T-bills with their dollars, there is no reason for them to buy american products or make american investments.

The loss of manufacturing is due more to regulations and taxes than import duties or quotas as well.

46 posted on 11/02/2010 8:02:33 AM PDT by ALPAPilot
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To: ALPAPilot

Theoretical mumbo-jumbo!

Our trade deficit is caused by imports.

Nothing else. Not a budget deficit. Not global warming.

Imports.


47 posted on 11/02/2010 8:07:44 AM PDT by Cringing Negativism Network (GOP establishment are dinosaurs. Tea Party is a great big asteroid...)
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To: Cringing Negativism Network; RightInEastLansing
tariffs are taxes

Maybe everyone here actually knows that, but what's not well understood is how really bad all this tax'n'spending is for America.

48 posted on 11/02/2010 8:12:24 AM PDT by expat_panama
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To: expat_panama

religion of free trade bump for later............


49 posted on 11/02/2010 8:12:39 AM PDT by indthkr
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To: Will88
The American people have been lied to about the 'benefits' of our one-sided trade policies for at least fifty years.

The American people have been lied to about the fact that more government intervention in the market means higher prices and lower efficiency? It is fascinating to me that some people will argue that greater government control of the economy is bad except when it comes to trade. Do you believe that when the issue of trade is involved all of a sudden government becomes capable, reliable and responsible? If so, you may be a big government conservative - whatever that is.

50 posted on 11/02/2010 8:17:46 AM PDT by Mase (Save me from the people who would save me from myself!)
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