Author Archives | stumo

Dethrone ‘King Dollar’

Stumo note: Well… this will be controversial. Interesting though.) By JARED BERNSTEIN  |  AUG. 27, 2014 | NY Times WASHINGTON — THERE are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of…

Posted in Currency7 Comments

Chinese Mercantilism Caused up to 2.4M Jobs Lost

The respected National Bureau of Economic Research released a report this week establishing that the flood of Chinese imports displaced U.S. manufacturing industries and jobs. Note to the Beltway crowd and misguided economists: The cause was NOT automation or productivity gains.  And the losses were NOT offset by cheap consumer prices….

Posted in China, Economy1 Comment

US Manufacturing Falls Behind in Trade – Again

In Froman-world, the US is the worlds production platform of choice. He really said that.  Just last week. But, back here in the real world, where we actually live and try to make a living, Michael Froman’s (and his predecessors) trade policy is a de facto offshoring and deindustrialization juggernaut. The Wall…

Posted in Trade0 Comments

Cutting the Corporate Tax Would Make Other Problems Grow

The corporate tax rate is in the news today primarily because of inversions. Yesterday, Greg Mankiw’s article proposed the abolition of the corporate tax and adding a consumption tax. Jared Bernstein, below, argues that the corporate tax should be kept.  Though he does not prescribe the tax rate or comment…

Posted in Tax2 Comments

Stunning: US Trade Ambassador thinks US is Tops in Production

Michael Froman, US Trade Ambassador, now tries to convince folks that the U.S. is the world’s production platform of choice!  He continues barnstorming the country in support of trade and global governance deals that de-industrialize America. Last week in Seattle, he spoke to the Washington Council on International Trade… a group I…

Posted in Trade Agreements0 Comments

Comments to USTR National Trade Estimate due October 29

The Office of the US Trade Representative publishes a pretty good annual report called the National Trade Estimate. The National Trade Estimate Report on Foreign Trade Barriers (NTE) is an annual series that surveys significant foreign barriers to U.S. exports. The report provides, where feasible, quantitative estimates of the impact of…

Posted in Trade1 Comment

Michael Froman’s PR Blitzkrieg

Ambassador Michael Froman is blitzing the country trying to push the economy-killing, sovereignty-outsourcing Trans-Pacific Partnership.  He presented in Des Moines, Iowa recently at a “Made in Rural American Regional Forum”.   Weird, because he is promoting trade and global government deals that erode our Buy American laws and promote subsidized imports….

Posted in Trade Agreements1 Comment

Andy Grove on Loss of U.S. Manufacturing

Former Intel CEO Andy Grove disagrees with the “products of the world” people who say it doesn’t matter where things are made.  This is an older article, but he outlines how you have national economic success. Some excerpts from Grove before the long article below: Consider this passage by Princeton University…

Posted in Economy, Technology1 Comment

Congress Sends Obama Letter on TPP and Vietnam Human Rights

Thirty five Congress men and women from both parties sent President Obama a letter last week expressing serious concerns about including Vietnam in Trans Pacific Partnership talks. Vietnam is a serial abuser of human rights. The letter stated: Despite its election to the United Nations Human Rights Council, the Vietnamese government…

Posted in Trade AgreementsComments Off

Chinese Latest Attacks on TradeReform Blog

CPA’s IT guy just updated me today on a recent hacking bombardment of our TradeReform blog.  Over 3500 servers from across the world have tried to hack into this blog in the last week.  It was a big coordinated attack. I think it’s the Chinese but am not sure.  As they…

Posted in China2 Comments

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