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Paulson: Protectionism no answer to financial crisis
Reuters ^ | 12 Oct 2008 | Glenn Somerville

Posted on 10/12/2008 3:58:50 PM PDT by BGHater

Treasury Secretary Henry Paulson cautioned on Sunday that countries that turn to protectionist policies to try to escape damage from the global financial crisis may make it worse.

"Isolationism and protectionism will not offer a way out," Paulson said in a statement prepared for delivery to the World Bank's development committee.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; Foreign Affairs; Government
KEYWORDS: business; economicpolicy; economy; financialcrisis; globalism; paulson; protectionism; smoothawley; trade
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1 posted on 10/12/2008 3:58:50 PM PDT by BGHater
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To: BGHater

Here we go. So the conspiracy theorists aren’t crazy afterall?


2 posted on 10/12/2008 4:00:34 PM PDT by randomhero97 ("First you want to kill me, now you want to kiss me. Blow!" - Ash)
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To: randomhero97

This is double-speak.

He means money from the US Treasury should be spent on foreign banks and businesses.


3 posted on 10/12/2008 4:02:15 PM PDT by Sundog (Palin --- She who can shoot a moose can shoot a Russian bear.)
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W, FIRE THIS ASS.

FIRE COX.

LET SLIP THE DOGS, W.


4 posted on 10/12/2008 4:04:18 PM PDT by combat_boots (God, gun and babies. Justices, taxes and sovereignty. Otherwise known as White Trash. Count me in.)
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To: BGHater

Paulson doesn’t recognize that “free” trade rotted the economy from the bottom up. He should be ****canned.


5 posted on 10/12/2008 4:05:28 PM PDT by mysterio
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To: Sundog

Yup! Protectionism hasn’t been heard in some time and the Democrats are the pacifists that spouted it. Screw the world, were OK.


6 posted on 10/12/2008 4:06:12 PM PDT by eyedigress ( My first 4 wheeler was on the rocks in Fairbanks)
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To: mysterio

There you go again. This one was from the top down . . . I’m surprised you don’t see it.


7 posted on 10/12/2008 4:07:54 PM PDT by 1rudeboy
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To: randomhero97

Yeah, it’s the formative moments of the world-wide financial system that is going to be put into place. It’s happening right before our eyes...


8 posted on 10/12/2008 4:08:53 PM PDT by Star Traveler
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To: 1rudeboy
BS. If you guys hadn't shipped out all of the jobs, a lot more people could have made those mortgage payments.

All so we can save ten cents on cheap Chinese junk.

The only bright side to this whole mess is watching "free marketeers" forced to support the nationalizing of the financial sector. Priceless.
9 posted on 10/12/2008 4:12:23 PM PDT by mysterio
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To: mysterio
Paulson doesn’t recognize that “free” trade rotted the economy from the bottom up.

Oh, YOU again.

You're making the rounds today at FR aren't you.

10 posted on 10/12/2008 4:13:51 PM PDT by EGPWS (Trust in God, question everyone else)
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To: BGHater

I think I would keep my mouth shut if I was in charge of the mess we are now in! So far, he has been wrong about everything.


11 posted on 10/12/2008 4:15:01 PM PDT by kcvl
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To: EGPWS

Yes, I’m pretty upset about this whole mess.


12 posted on 10/12/2008 4:15:44 PM PDT by mysterio
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To: combat_boots
W, FIRE THIS ASS.

FIRE COX.

LET SLIP THE DOGS, W.

Ain't gonna happen. Bush and Paulson are BFF.

13 posted on 10/12/2008 4:17:24 PM PDT by arasina (So there.)
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To: BGHater
I agree with the statement at face value...but is the unstated corollary that anything short of globalism is "isolationism"?

Interfaces (areas where one can exploit differential rates of taxation, etc) are some of the most marvelous structures in economics; they introduce strong mechanisms for expressing and relieving economic, migratory, and political selective pressures. Interfaces are what make federalism so great - via political 'natural selection' punishing bad policies and rewarding good ones. Interfaces and differentials preserve liberty in the long-term.

I am all but assured this is merely Paulson's prelude to calls for "enhancements" in the global socialist order. More Keynesian/fascist assaults on freedom, with American sovereignty abdicated to the like of the IMF, WTO, UN, etc. "And if you disagree, you are an isolationist populist know-nothing kook, probably with anti-Semetic tendencies..."

14 posted on 10/12/2008 4:17:28 PM PDT by M203M4 (True Universal Suffrage: Pets of dead illegal-immigrant felons voting Democrat (twice))
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To: mysterio
Interesting you would say that: the only bright side for us is watching the protectionists try to pin the blame on the free-traders.

Question for the forum: let's say I got it in my head that everyone "deserves" a decent home, and decided to favor a government policy that makes it happen. Am I more likely to favor protectionism or free trade?

If you have difficulty answereing the above, substitute "decent job" for "decent home" and try again.

15 posted on 10/12/2008 4:17:38 PM PDT by 1rudeboy
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To: 1rudeboy
We've been telling you for years that something like this would be the ultimate result of shipping out US jobs. Your response was charts and the "we're doomed" picture.

Funny, I haven't seen either posted very much lately.
16 posted on 10/12/2008 4:19:50 PM PDT by mysterio
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To: randomhero97; Star Traveler
"Here we go. So the conspiracy theorists aren’t crazy afterall?"

Remember "The Trilateral Commission" then the "CFR"? It used to be the 'area 51' 'tin-foil hat club' warning us about this and now it looks as though it's working as planned. George Jr. is following through on George Sr.

Check out the membership names of this outfit of "New World Order" people:

The Trilateral Commission

17 posted on 10/12/2008 4:20:27 PM PDT by KriegerGeist (I'm now considered a "Bitter Clinger" to my guns and religion.)
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To: combat_boots

18 posted on 10/12/2008 4:22:39 PM PDT by arasina (So there.)
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To: combat_boots
W, FIRE THIS ASS.
FIRE COX.
LET SLIP THE DOGS, W.

I fear that W has had a series of "Senior Moments" for some time now. And I can say that as someone who will be 65 this coming week.

If I EVER hear the words "Compassionate Conservative" again in my lifetime, I think I will take out my trusty .357 and .....

WTF is wrong with Bush anyways? Why in the world (with all of the highly qualified people) did he pick a liberal, moonbat, EnviroNut as his Sec Treas?

Didn't he learn from keeping Clark on in his cabinet?

If not, then surely Minetta should have shown him "the light?"

Oh no, much like McPain, he keeps digging his own grave deeper and deeper.

Sheesh, is it Jan 20th yet?

19 posted on 10/12/2008 4:23:01 PM PDT by Conservative Vermont Vet ((One of ONLY 37 Conservatives in the People's Republic of Vermont. Socialists and Progressives All))
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To: combat_boots
W, FIRE THIS ASS.
FIRE COX.
LET SLIP THE DOGS, W.

I fear that W has had a series of "Senior Moments" for some time now. And I can say that as someone who will be 65 this coming week.

If I EVER hear the words "Compassionate Conservative" again in my lifetime, I think I will take out my trusty .357 and .....

WTF is wrong with Bush anyways? Why in the world (with all of the highly qualified people) did he pick a liberal, moonbat, EnviroNut as his Sec Treas?

Didn't he learn from keeping Clark on in his cabinet?

If not, then surely Minetta should have shown him "the light?"

Oh no, much like McPain, he keeps digging his own grave deeper and deeper.

Sheesh, is it Jan 20th yet?

20 posted on 10/12/2008 4:23:35 PM PDT by Conservative Vermont Vet ((One of ONLY 37 Conservatives in the People's Republic of Vermont. Socialists and Progressives All))
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