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McCain the clueless free trader |
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Written by Stumo
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Wednesday, 16 April 2008 |
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McCain continues his self-proclaimed role as the biggest free trader in the Senate since Phil Gramm. In Pittsburgh yesterday:
Dipping into a contentious issue that has stirred up the
Democratic Party, Mr. McCain made clear his unequivocal support for
free trade even as Senators Obama and Clinton have been speaking about
its downsides. Mr. McCain argued that the benefits of opening new
markets outweighed the costs of losing some manufacturing jobs.
That is why I object when Senators Obama and Clinton and others preach
the false virtues of economic isolationism, Mr. McCain said in the
speech. Senator Obama recently suggested that Americans are
protectionist because they are bitter about being left behind in the
global economy. Well, whats his excuse for embracing the false
promises of protectionism?
McCain has said he does not understand the economy. His trade
stance confirms that fact. Anyone that seeks a new trade policy
is an "isolationist." Folks without jobs can make a living selling on eBay. Maybe he should try that route himself. Now that's an economic plan.
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ADM & Cargill claim trade dumping |
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Written by Stumo
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Tuesday, 15 April 2008 |
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This is funny.
Those darned protectionists at ADM and Cargill are asking the U.S. Dept
of Commerce and the U.S. International Trade Commission to impose
antidumping and countervailing duties against Canada and China.
Citric acid and citrate salts.
Last I checked, Cargill was leading the free trade bandwagon.
And ADM was fined $100 million for price fixing in the citric acid market (also lysine) in 1996.
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China cheats -- at the cost of American jobs and economic growth |
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Written by LNC
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Tuesday, 15 April 2008 |
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The following is from The Pittsburgh Post-Gazette:
By Andrew G. Sharkey, a Pittsburgh native and president and CEO of the American Iron and Steel Institute.
April 13, 2008
The real economic threat
China cheats -- at the cost of American jobs and economic growth
The current state of the U.S. economy has become the talk of the campaign trail. This comes as no surprise to those seeing rising prices at the gas pump, learning firsthand about skyrocketing energy costs, witnessing stagnation in job growth and hearing about the ever-increasing trade deficit. Over the next week, Pennsylvanians will continue to have the opportunity to have their voices and concerns heard as the presidential candidates court their votes for April 22 primary.
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Read more...
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U.S. Trade Rises in February |
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Written by LNC
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Tuesday, 15 April 2008 |
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U.S. Trade Rises in February
Drags Growth, Lowers GDP by $250 Billion
by Peter Morici
Today, the Commerce Department reported the February deficit on trade in goods and services was $62.3 billion. This was up from $59.0 billion in January and about 5.3 percent of GDP. The deficit was pushed higher by rising prices from many industrial supplies and materials and increased imports of consumer goods.
The deficit on trade in goods was $72.9 billion in February, up from $69.4 billion in January, while the surplus on services increased to $10.6 billion in February from $10.5 billion the previous month.
The weaker dollar against the euro, yen and other currencies of other market economies has boosted exports. U.S. manufacturers and exportable services compete head to head with many European Union industries, and the weaker dollar improves price competitiveness of U.S. products.
However, the dollar remains stubbornly strong against the yen and the currencies of other Asian mercantilists, because their governments intervene aggressively in currency markets to frustrate market forces, subsidize exports and maintain artificial cost advantages. For example, the blooming Chinese and Indian automobile industries would struggle with much more import competition if their currencies were fairly valued, tariffs were as low as those in North America and Europe and bureaucratic barriers to foreign auto sales were removed. Coffee exports from Nova Scotia would make sense with a trade regime like that on java beans.
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Written by Stumo
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Tuesday, 15 April 2008 |
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I have reprinted a letter by Senator Debbie Stabenow to a Michigan
constituent concerned about trade policy issues. Her words have
been backed up, generally, by votes, including voting against the Peru FTA.
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Dear [Constituent]:
Thank you . . .
. . for contacting me about the impact of free trade agreements on our
country. I share your deep concerns about our current trade policies
and am leading the fight to change course. Last year, I voted against
the Peru Free Trade Agreement, and I intend to lead the opposition to
trade agreements with Columbia and South Korea that are being pushed by
the Bush Administration.
We live in a global economy that continues to grow and expand. Over
the last century, we have consistently proven that Michigan businesses
and workers can successfully compete with anyone in the world when the
playing field is level.
Unfortunately, persistent unfair trade practices by other countries are costing us jobs every day. (read more)
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