1929 All over again

[KCinLA]

The Great Depression was intensified due to tariffs on imports.
(Our country's and others that slapped back.)

Friday Obomba added taxes to China's tires imported.
Today he told Wall street that history will not repeat itself.
Guess he doesn't know our nation's history.

Lets see if this wrong move makes it to our nightly news.

Kevin

 

[ItalyzBalla145]

Lol... it's def not that serious.

 

[marcusl1]

I for one do not think it does much good for any country's economy and employment to buy about one third or half the products in China. Products made in USA may be a little more expensive, but buying those benefit all Americans. The so-called free economy and free market model and capitalism itself collapsed in september, when the Amercian economy was 3 hours from collapsing without massive intervention:

http://anonym.to/?http://www.videos...omy-came-within-3-hours-of-no-longer-existing

This was the result of the Bush Administration - so why a little tax on chinese tires can rile anyone up beats me.

 

[brmstn69]

The real issue is companies that are closing down factories in the U.S. and moving them overseas or to Mexico. I've seen several plants in my town do this Zenith TV, Escalade Sports, and now Whirlpool, just to name a few. We need legislation and penalties that makes it cost these greedy bastards more money to ship jobs overseas than it does to build here...

 

[Thor]

Economists are very worried about the 30th Sept/1st Oct --that's when the shit hits the fan!

why Integritas0?

I wonder what would happen If america stoped all imports and exports?

 

[intensepump]

If American factories could pay slave labor wages and ignore environmental concerns like they do in china....the more productive American worker...would bury those Chinese tires. It isn't a level playing field because the Chinese do not play the game with the same rules.

 

[ritsuka]

I think that global regulations need to be made to stop the "flow" of labor and capital--to make it so that there is no country left for the ultra-rich to hide their money in to avoid paying taxes, no country so lacking in labor laws that it will intice greedy corporations to transfer there, or one that would allow a saturation of needless foreign guest workers. I support local economies that are based on providing for themselves, employing everyone in good working conditions with living wages, and using the things they make. At least then things would cost what they worth--because they wouldn't be filtered through sweatshop children half the world away--and the things made wouldn't be using up the soil fertility, water, and other natural resources of places far removed.

 

[hammervice]

i have notting to add just that we talked about this in class today

 

[moeppelpupp]

The same problem here in Europe. In germany many factorys are moving away to Romania and other countries in the east. Even so the salaries are low over there many factorys come back because teh infrastructure is much better in western europe.

 

[brmstn69]

The same problem here in Europe. In germany many factorys are moving away to Romania and other countries in the east. Even so the salaries are low over there many factorys come back because teh infrastructure is much better in western europe.

But German labor laws protect workers much better than they do here. BMW's sales are down on all models except the Mini, but the law wont let them lay anyone off, so even though sales are up on the Mini, workers are being laid off because that plant is in England and they can get away with it...

 

[brmstn69]

i have notting to add just that we talked about this in class today

So, what did you learn in school today?

 

[moeppelpupp]

But German labor laws protect workers much better than they do here. BMW's sales are down on all models except the Mini, but the law wont let them lay anyone off, so even though sales are up on the Mini, workers are being laid off because that plant is in England and they can get away with it...

You are right. In Germany no one has to fear poverty because of the social assurances. But nevertheless it is an humiliation to lose the job, because someone in another country makes the same work for less money.

 

[explrrrs]

I'm not sure as to what Obama is doing, but I have to agree that the tariffs in 1929 didn't help the economy or if they did, things were moving backwards so much that things had to fall some more.
But I'm glad Obama put in the new tax on tires. It's a bit like pharmaceutical companies, I sure as heck don't want my meds to be made in China, no offense to the Chinese, but some Chinese business individuals are kind of sketchy. Example, have you heard of the story where used chopsticks were being repackaged and sold to the U.S. We have enough problems with tires shredding in the middle of highways and interstates, that if tires made in China were to all be old tires coated over, a wave of fear just might hit the economic market like when all those toys made in China had lead. But really, I change my tires like once every two years, the extra tax if they are made in China won't hurt as much as the tax on my income. Now that really hurts.