Posted on 09/13/2009 1:55:59 PM PDT by Nachum
No posts from Bloomberg allowed. Link is below or at nachumlist.com also linked.
(Excerpt) Read more at nachumlist.com ...
The list, ping
That didn’t take long. Just watch how fast this escalates now. And just watch how many more jobs we loose per month now.
The Obama chickens coming home to roost.
Our US Secretary of State seems conspicuously absent on most of these foreign policy debacles.
Do yuh think Hilary is ready to bolt the Obamanation?
Well do yuh?
History rhyming again.
Wonder how US ag will do when China stops buying US soy. Well not really.
More brilliant foreign policy moves by the “smartest guy in the country”....he will prolly find another mooslem leader to apologize to now to make it all better. (Spit!)
They are going after auto parts and poultry producers, two big exports markets to china, and Obama can’t afford any more Auto sector job losses.
But boy do those auto workers union A-holes deserve it; they are the ones pushing for protectionism in the first place, and have a bunch of “buy American” campaigns going, too stupid to realize that Americans don’t buy enough auto parts to keep them employed.
Or not buying treasury debt.
What are ya gonna do? Our buddies the Communist Chinese own us. Roll over and lube up is all that’s left.
There you have it. The commie unions are behind it. Obama is appeasing them, and their idiotic closed border thinking.
Or even worse, start dumping some of it and forcing the dollar down even lower and faster.
Obama is far too stupid to play hardball with China.
That may fit in to the Obama plans for totalitarian attempted takeover.
In order to placate the union tire makers, he screws American exports. Amateur hour at the White House.
And you and I foot the bill.
This blithering ingrate isn’t qualified to manage a lemonade stand.
Its one thing to criticize what “To Do” in terms of the economy, based on theory.
Its another all together to criticize on the basis of what “ NOT to Do” based on history as a guide.
Two words- “Smoot-Hawley”
http://www.answers.com/topic/smoot-hawley-tariff
these people are obviously trying to destroy this country.
Its time to start attacking the real problem at this point THE MEDIA - it is obvious that they are determined to support the undermining of our Republic, by design or by sheer arrogant stupidity.
Yup. China buys more US cars than do Americans. China also buys a lot of US heavy machinery (earth movers, etc). This move by Obama could kill the very industries that the industrial Unions control.
What do you expect from a man who never had a real job?
Like hell they do. But you can think that way if you like. We own them just as much as you think they own us, and then some.
Corporate America often seems to go out of its way to hide its successes in China. That may not be the smartest strategy as Obama is starting a possible trade war and highlights the corporate losers of trade with China, while ignoring the many winners.
According to the Bureau of Economic Analysis, U.S.-affiliated companies in China -- companies in which U.S. firms have at least a 10% stake -- earned $3 billion in 2004. Joseph Quinlan, chief market strategist for Bank of America, says that figure is a good reflection of how U.S. companies are making out in the world's fourth-largest economy. He estimates earnings reached a record $3.2 billion in 2005.
While it's true that corporate profits from China accounted for just a sliver of the $209 billion earned by U.S. affiliates world-wide in 2004, with Japan yielding $11.3 billion and Mexico, $7.6 billion. But China is becoming an increasingly attractive market for U.S. companies, even in some of the most competitive industries.
As its losses pile up in the U.S., General Motors Corp. reported income from China of $218 million for the first nine months of 2005. This nugget was buried in GM's filings to the Securities and Exchange Commission.
China accounts for 12% of Motorola Inc.'s global sales and is by far the biggest market for the company outside the U.S.
General Electric Co. said top-line revenue in China hit $5 billion last year, and the company is aiming to double that by 2010.
Many U.S. companies unquestionably are making decent money in China. But years of missteps and frustration -- and a few spectacular failures -- have left a lingering impression that China is a black hole for investment.
China is far more important to OUR economy than a lot of people think. A lot of these companies bringing home the bacon could become big losers if trade wars escalate with China.
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