Tag: World Trade

War, Trade Or Otherwise

WE know that Donny is a one trick pony when it comes to global trade, tariffs and more tariffs….we are all well aware of the tariffs on Mexico and Canada which can be disastrous especially on food prices….but what about those tariffs against our ‘big’ enemy, China?

Donny the Man has doubled his tariffs on products from China (forget Temu)….and now China is firing back….

Some tough talk from China in response to President Trump’s tariffs: “If war is what the US wants, be it a tariff war, a trade war, or any other type of war, we’re ready to fight till the end,” foreign ministry spokesman Lin Jian said Tuesday night after Trump doubled the 10% tariff he imposed last month on most Chinese imports. The remark—which was shared in a post on X by China’s embassy in Washington, DC—came as leaders gathered in Beijing for the annual National People’s Congress, the BBC reports. “Intimidation does not scare us,” Lin said. “Bullying does not work on us. Pressuring, coercion or threats are not the right way of dealing with China.” More:

  • Fentanyl: Lin rejected White House claims that China is responsible for fentanyl flooding into the US. “The US, not anyone else, is responsible for the fentanyl crisis inside the US,” he said. “In the spirit of humanity and goodwill towards the American people, we have taken robust steps to assist the US in dealing with the issue.” But instead of recognizing China’s efforts, he said, the US “has sought to vilify and shift the blame to China, and is seeking to pressure and blackmail China with tariff hikes.”
  • Retaliatory tariffs: China announced new tariffs of up to 15% on a range of American food and farm imports Tuesday. The retaliatory tariffs are “very specific and directly targeted at American farmers, who are mostly in red states and mostly voted for Trump,” Neil Thomas at the Asia Society Policy Institute’s Center for China Analysis tells ABC News. “So China is trying to create pain where it matters for Trump, and it’s hoping to get Trump to the negotiating table.”
  • Growth target unchanged: On Wednesday, leaders at the National People’s Congress announced a growth target of around 5%, the same as the previous two years, despite a slowing economy and the looming trade war, AP reports. Officials said military spending would rise 7.2%. The legislature’s meeting will run for several days. The BBC describes it as a “rubber-stamp parliament, which passes decisions already made behind closed doors.”

Slowly those morons in DC are destroying what is left of the world trade network….tit for tat tariffs will provide the engine for a global recession or worse, a depression.

We can only hope that idiots come to their senses and find a way to work together and keep a vivant world trade intact.

But will they?

Side note–I see that Donny has paused auto tariffs on Mexico and Canada for 30 days….maybe someone should make up his mind for him.

I Read, I Write, You Know

“lego ergo scribo”

More Tariff Talk

Donald the Orange not satisfied with the tariffs he has already put in place has stated that there may be more to come….

President Trump announced plans for “fair and reciprocal” tariffs on America’s trading partners Thursday, claiming they would raise a “staggering amount” of money. “They charge us a tax or tariff and we charge them the exact same,” Trump told reporters before he signed the “Fair and Reciprocal Plan” executive order in the Oval Office, CNN reports. “It’s fair to all. No other country can complain.” Asked if prices in the US would go up because of the tariffs, Trump said “not necessarily,” reports the New York Times. “Prices could go up somewhat short term,” he said.

Officials say the plan includes countering the value-added taxes common in Europe. Trump has ordered officials to prepare a country-by-country report within 180 days to determine “remedial” action of tariffs. Howard Lutnick, his nominee for commerce secretary nominee, said the investigation should be complete by April 1. Trump that said at a later date, there would be import tariffs “over and above” reciprocal taxes on imports including cars, pharmaceuticals, and semiconductors, NBC News reports.

Trade analysts say that the plan is likely to raise costs for Americans as well as being a “bureaucratic nightmare” to administer, the Washington Post reports. “Reciprocity may sound appealing. But remember who pays tariffs: It’s the American importer and the burden eventually falls on the consumer,” said Erica York, vice president of federal tax policy for the Tax Foundation. “It’s like shooting yourselves in the foot because someone else is shooting themselves in the foot.” Trump said countries could make their products in the US to avoid tariffs and predicted that the country would be “flooded with jobs,” the Times reports.

I know I write a lot about these tariffs but that is because most people do not understand what the entail.

Let’s look at history…..Trump’s idol is Pres. McKinley (now you know why he renamed that mountain)….a man that Trump calls the Tariff King…..

William McKinley was a largely forgotten American president from more than a century ago until Donald Trump returned to the White House as his biggest fan because of McKinley’s love affair with tariffs.

Trump, who has renamed North America’s highest peak Mount McKinley in his honor and announced a series of his own tariffs on imports, has frequently praised McKinley since taking office and while on the campaign trail last year. In his inaugural address, he referred to McKinley as a “great president” who “made our country very rich through tariffs.”

Trump has dubbed McKinley the “tariff king.” McKinley referred to himself as “a tariff man, standing on a tariff platform.”

In 1890, six years before McKinley’s election as president, Congress passed his legislation that raised the tariffs on most imported manufactured goods to about 50%.

But Trump misses several points in the historical record about McKinley – including his contention that tariffs created wealth and made America rich in the late 19th century – said Douglas Irwin, a professor of economics at Dartmouth and a leading expert on McKinley and his tax policy.

“This whole late 19th century was a period of expansion,” he said. “Tariffs themselves probably didn’t make a huge amount of difference one way or another.”

https://www.cnn.com/2025/02/12/business/trump-william-mckinley-tariffs/index.html

McKinley learned that ‘free trade’ was far more profitable than tariffs but will His Majesty learn the same lesson (Doubtful)….

Are these tariffs constitutional?

The taxing power in the federal government resides in the Congress. The Constitution states that Congress has the power to “lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts” of the federal government. Indeed, in order to emphasize the location of this power in the Congress, the Constitution also requires that all legislation “for raising Revenue shall originate in the House of Representatives.”

So, if only Congress can impose taxes, how can the president impose tariffs?

Here is the backstory.

https://original.antiwar.com/andrew-p-napolitano/2025/02/06/tariffs-and-the-constitution/

Thoughts?

I Read, I Write, You Know

“lego ergo scribo”

A State Controlled Economy?

Do we still support free markets?

According to the president….HE controls our markets. He has gone so far as to “ORDER” American firms to find an alternate to China’s markets.

ORDERED is the key concept in his statement.

It’s another volatile day on Wall Street, with the Dow down about 500 points at midday. Renewed friction between the US and China is to blame, as President Trump unleashed a series of angry tweets on that subject as well as Fed chief Jerome “Jay” Powell. After Beijing said it would impose tariffs on an additional $75 billion worth of American goods, Trump tweeted that US companies are “hereby ordered” to immediately look for alternatives to China, including relocating operations, reports the Wall Street Journal. “We don’t need China and, frankly, would be far better off without them.” But Beijing was hardly Trump’s only target. After Powell failed to be assertive enough to Trump’s liking in a speech on cutting rates, Trump wrote: “As usual, the Fed did NOTHING!” But his next tweet drew the real attention: “My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?”

Trump’s reference to Xi as an “enemy” strikes CNBC as particularly bad news. It “suggests that the president’s personal relationship with Xi, which Trump has touted as the best route to completing a major trade deal uniting the world’s two largest economies, is at a low point,” writes Tucker Higgins. China’s decision to impose the new tariffs, which go into effect in phases on Sept. 1 and Dec. 15, are retaliation for new tariffs the US is imposing on China, notes the Journal. In another slam against Beijing, Trump wrote that he is ordering “all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China” because he says the drug is killing Americans

Now if another president who shall remain un-named, had issued this statement the GOP would be having a stroke and going on aimlessly about socialism, communism and stuff like that.

Where are these voices today?

They are still there just aimed at rivals in the political arena…they do not have the inclination to see what their mindless leader is doing to the country and the world.

Let me help those DOLTS in the GOP that may not be aware of what a controlled economy may be…..

The short version……

A centrally planned economy is an economic system in which a single authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products. Centrally planned economies are the flip-side to market economies, in which such decisions are traditionally made by businesses and consumers, rather than by central authorities.

Is this Trumps “New Economic Policy”?

Do I need to explain this as well?  (it is late and I am tired…use Google)

Not to worry…the “Pussy” president is considering changing his mind on the trade war with China…….

President Donald Trump on Sunday signaled he might be having regrets about his deepening trade conflict with China, telling reporters less than 48 hours after he pledged to raise tariffs on Beijing that he has “second thoughts about everything.”

Asked during a bilateral meeting with Prime Minister Boris Johnson of Britain whether he was second-guessing his posture on China, Trump said: “Yeah, sure why not. Might as well. Might as well.”

The comments marked the president’s first public signal of regret about how he was fighting China through escalating tariffs. They attracted immediate attention across U.S. media because of the unusual nature of Trump’s remarks, leading White House officials to seek clarity from him in between bilateral sit-downs on Sunday morning. The president told aides, “You know what I meant,” according to a person familiar with the conversation.

About five hours later, White House Press Secretary Stephanie Grisham said Trump’s answer to a question about whether he had second thoughts on his approach with China had been “greatly misinterpreted.”

https://www.politico.com/story/2019/08/25/donald-trump-china-trade-war-1474382

Sounds to me like he is scared of the markets and his re-election….so he pussied out.

“Lego Ergo Scribo”

If It Is Monday It Must Be WTO!

First, this is not some post about some moronic wrestling federation extravaganza….no I am talking about the World Trade Organization (WTO)….or some of you old farts might remember it as GATT (General Agreement on Tariffs and Trade)…..but what the Hell is it?

The WTO was born out of negotiations, and everything the WTO does is the result of negotiations. The bulk of the WTO’s current work comes from the 1986–94 negotiations called the Uruguay Round and earlier negotiations under the General Agreement on Tariffs and Trade (GATT). The WTO is currently the host to new negotiations, under the ‘Doha Development Agenda’ launched in 2001.

Where countries have faced trade barriers and wanted them lowered, the negotiations have helped to open markets for trade. But the WTO is not just about opening markets, and in some circumstances its rules support maintaining trade barriers — for example, to protect consumers or prevent the spread of disease.

https://www.wto.org/english/thewto_e/whatis_e/who_we_are_e.htm

I know you are probably thinking that this has nothing to do with you…well you would be wrong for Our Dear Leader if successful could make your living a lot more expensive than today……

He, Dear Leader, has declared a possible war on the WTO……

Shape up or we’ll ship out. That was essentially the message President Trump had for the World Trade Organization in an interview with Bloomberg on Thursday. Trump described the 1994 agreement that formed the WTO as “the single worst trade deal ever made” and issued his threat: “If they don’t shape up, I would withdraw from the WTO.” The body sets rules for global trade and serves as a forum for handling trade disputes, and Trump complained about the historical outcome of those complaints. He had this to say: “We rarely won a lawsuit except for last year. In the last year, we’re starting to win a lot. You know why? Because they know if we don’t, I’m out of there.”

The BBC cites a study that shows the reality is more like 90/90: We win about 90% of the cases we bring, and lose just shy of 90% of those filed against us. As for the cases filed against us, ones from China have made recent headlines. The AP reports Beijing on Monday formally sought “dispute consultations” over the latest round of tariffs—$16 billion of them—imposed last week on Chinese goods. China is a thorn, per US Trade Representative Robert Lighthizer, who views China’s 2001 entry into the body as a mistake. Bloomberg’s take: “A US withdrawal from the WTO potentially would be far more significant for the global economy than even Trump’s growing trade war with China.” In the meantime, the US has been blocking the appointment of new judges, which could ultimately put the WTO’s ability to issue judgments on ice. Click for more on Trump’s wide-ranging interview.

As this policy expands items will becoming more expensive and in some cases more difficult to obtain and that could influence the production in this country…and for what?

Some minor machismo for the news cycle…….for he must be the talk of the town whether good or bad…..

Closing Thought–03Jul18

You know that there is humor in DC….you just have to know where to look…..

For months now the big story has been the tariffs that Trump has decided to punish our allies and neighbors with…….his newest attempt…….

Take the Fair & Reciprocal Tariffs Act……what shall we call it for short?  How about the FART Act?

President Trump is no fan of the World Trade Organization, and Axios reports that he ordered his advisers to work up a bill that would give him broad power to circumvent WTO rules and negotiate his own deals. The story by Jonathan Swan uses the words “insane” and “stunning” to describe the bill’s scope, though it adds that the measure has virtually no chance of becoming reality. Trump reportedly was briefed on the working draft in May. CNN confirms the existence of the leaked proposal, called the United States Fair and Reciprocal Tariff Act. And, yes, the emergence of that name has led to a barrage of social media jokes and commentary about the FART Act, notes the Guardian. “WTO has its flaws, but the ‘United States Fair and Reciprocal Tariff Act,’ aka the U.S. FART Act, stinks,” writes Anthony Scaramucci. “American consumers pay for tariffs.”

And this from a New York Post staffer: “As an editor who writes some headlines at the NY Post can I just say I’m really psyched about the FART Act,” writes Seth Mandel. The Axios report says most of the Trump officials who worked up the proposal think it’s unrealistic, and that has led to speculation that staffers gave it the unfortunate acronym on purpose, notes Business Insider. A White House spokesperson confirmed that Trump asked his team to work up ideas to “remedy” what he sees as unfair trade laws. “The only way this would be news is if this were actual legislation that the administration was preparing to roll out, but it’s not,” says Lindsay Walters. “Principals have not even met to review any text of legislation on reciprocal trade.”

You just cannot make up this shit……DC has better than the Late Nite TV shows……they do it all to themselves……gotta love it.

Following the close of a second quarter that will be best remembered by President Trump’s vacillations on trade, Axios has dropped a Sunday night bombshell that may spook markets hoping for a respite from the daily escalating trade war rhetoric as the second half of the year begins: White House reporter Jonathan Swan has obtained a copy of a draft bill, purportedly ordered by Trump himself, that would allow the US to “walk away” from its commitments to the World Trade Organization.

http://theantimedia.com/trump-blow-up-world-trade-organization/

Good times coming!

Free Trade Or Fair Trade

Just the other day Pres. Trump signed his EO on tariffs on steel and aluminum imports  in doing so he has started a debate on free trade….many do not see his tariffs as good for the notion of free trade and still others think that free trade is a cornerstone of conservatism…..but is it, that cornerstone?

The American Conservative spotlights this in a recent article….

According to a recent analysis in the New York Times, President Trump’s “isolationist” trade policy is “at odds with longstanding conservative orthodoxy about the benefits of free and open markets.” The reader is further told that the president is under pressure from his working-class base, which is obstreperously demanding that protectionist taxes be placed on imported steel and aluminum.

I say not so fast.

The Times presents the GOP base’s supposed impatience with free trade as a departure from almost sacred Republican beliefs, and free trade itself as a permanent conservative characteristic. Their evidence is that large corporations favor free trade while labor unions have generally been more protectionist.

http://www.theamericanconservative.com/articles/free-trade-shouldnt-be-a-litmus-test-for-conservatism/

TAC also takes a look, a historic look, at tariffs…..

America’s first great protectionist political figure was Alexander Hamilton, George Washington’s treasury secretary. And compared to later mercantilist politicians in our history, Hamilton wasn’t even that much of a protectionist. His original U.S. tariff bill imposed an average taxation level of just 8.5 percent on imported goods. And Hamilton argued that any protection encompassed in those duties, as opposed to revenue requirements, should be discontinued as soon as protected industries established themselves in the American economy.

Hamilton’s opponents, the early American free traders, feared he had created a monster, while northeastern industrialists, particularly in Pennsylvania, predictably argued that protection should be substantial and permanent to ensure national prosperity.

http://www.theamericanconservative.com/articles/americas-tumultuous-history-with-tariffs/

It is too early to tell if the Trump tariffs will be good for the country or not…..steelworkers union seems to think it will be but many economists see it doing the opposite for the country.

Trump has already exempted some countries from his tariffs….that right there tells me that he is not serious.  If you are going to impose tariffs then it should be on all involved not a select few.

Time will tell whether good or bad.

Word Of The Week–Tariffs

There is a word that sent the world’s markets into a skid…..and that word is tariffs…..and our president pulled the “T” word……

President Trump announced new tariffs on imports of steel and aluminum—25% and 10% respectively—on Thursday, leading some experts to fear a global trade war, the New York Times reports. “Our Steel and Aluminum industries … have been decimated by decades of unfair trade and bad policy with countries from around the world,” Trump tweeted Thursday morning. “We must not let our country, companies and workers be taken advantage of any longer.” Experts say the tariffs could lead to retaliation from other countries (China is talking about tariffs on US sorghum and soybeans and the EU is considering tariffs on US cheese and bourbon), higher prices on goods using steel and aluminum, and possibly an economic slowdown. Nervous investors sent the Dow plunging 500 points immediately after the news broke, reports the AP.

According to Business Insider, the Commerce Department recommended tariffs of 24% and 7%, but it was reported Trump preferred a “round number.” The Times describes a “frenetic and chaotic morning” leading to Trump’s announcement. White House advisers have bitterly debated tariffs for months, and Trump decided only Wednesday to announce them, CNN reports. White House aides were still discussing if the tariffs will apply to all countries or just a handful as of Thursday morning, and a White House official says the policy is not ready to be implemented yet. Advisers were still debating Thursday morning if Trump could announce anything. “Maybe he wants to make an announcement, but the proclamation isn’t ready,” one White House official says. “Without the proclamation, nothing has legal force.” Despite announcing the tariffs Thursday, Trump said he won’t sign the trade measures until next week. At this point, the specifics of those measures are unclear.

Now that the word has been used can Trump make good on his threat?

The Heritage Foundation had a bit to say on this…….

This month, at least four major trade cases will cross President Donald Trump’s desk: (1) a Section 201 (of the 1974 Trade Act) case on solar panels and modules, (2) a Section 201 case on large residential washers, (3) a Section 232 (of the 1962 Trade Expansion Act) case on steel, and (4) a Section 232 case on aluminum. These cases seek to restrict imports from all countries, minus a few exceptions, as a safeguard against alleged unfair competition under Section 201, and on the basis of national security under Section 232.

While the four cases involve different products and sectors of the economy, they have a few simple things in common. First, the domestic industries lobbying the government in each case are trying to use the political process to overcome setbacks in the economic marketplace. Second, the remedies being sought have the potential to cause serious damage to other firms or sectors of the U.S. economy. Finally, any actions taken by the government will increase the prices of the products in question in America.

https://www.heritage.org/trade/report/four-guidelines-the-president-when-considering-tariffs

President Trump’s announcement that he plans to impose a 25% tariff on steel imports and 10% on aluminum is reverberating not just in the US but around the world in the form of jittery stock markets and worries about a trade war. A look at what’s going on:

  • Beer, autos: In theory, the move could make things such as beer, autos, and even baseball bats—essentially, anything made with the metals—more expensive, reports CNN. But as the Upshot blog of the New York Times explains, how much of a price increase is unclear. “If your favorite beer producers are looking at paying an extra fraction of a cent for each aluminum can, they might just take on the cost themselves, they might raise prices, or they might split the difference.”
  • Biggest suppliers: Brazil, Canada, and South Korea supplied the most steel to the US last year, while Canada, Russia, and the United Arab Emirates were the leaders in aluminum in 2016, per CNBC. One economist warned of “surgical strikes” in retaliation, meaning counter-tariffs on specific products.

Will Congress intercede or will they what cowards do….run and hide behind the petticoats of the president?  Or will the mamby pamby Trump change his mind…..you know like he has on immigration and guns….

Trade This For That

I wish this post was some sort of sports analogy but it is not…..instead it is my opinion on the newest trade agreement that is making the rounds in the media……the Trade Promotion Authority (TPA)……or is it the Trans Pacific Partnership (TPP)?

Confused?  Don’t worry about it….all you need to know is that it is mostly lies covered by slogans and one liners……

This smells a lot like the con job fed Americans by the Clinton group (the DLC) back in the 90’s…..you may remember it as NAFTA…….where North American countries inked a deal to trade without heavy tariffs and such……and it was sold as a boom for the middle class…..that it would strengthen and make the middle class more secure…..

And how did that work out for the middle class?

It sucked!

“Free trade” agreements may not be intended to cause class warfare, but they have had the effect of further enriching the wealthiest in our country while driving many previously middle class citizens into subsistence-level service jobs. These agreements weren’t put into place by an outcry from a  public begging for more trade, and they certainly haven’t been maintained because of it.

Now with the new one…..the Third Way, which is a group that defines itself as independent of the two parties is pushing the new agreement as a way to strengthen the middle class and added security…….basically a ‘centrist’ group…….

From their press release…….

Third Way partnered with former Democratic National Committee (DNC) chairs today to urge fellow members of the Democratic Party to support granting President Obama Trade Promotion Authority (TPA) for a new trade deal to strengthen the middle class and ensure America’s safety and security.

“Third Way is proud to work with these Democratic Party chiefs to promote the benefits of a pro-export agenda that will move America forward,” said Jim Kessler, Senior Vice President for Policy at Third Way. “These Democratic leaders know that modern trade deals create blue collar middle-class jobs because the data is clear. In our recent study, we analyzed all 17 trade deals since NAFTA to see if they improved the U.S. balance of trade in the blue collar goods sector. They did. The U.S. balance of trade in goods improved by more than $30 billion on average every year because post-NAFTA trade deals were negotiated with higher standards. With TPA, there is substantial opportunity to further contribute to America’s economic growth at a time of global economic stagnation.”

“Increasing America’s exports is the best way to create well-paying middle class jobs,” said Governor Ed Rendell (D-PA), one of the former DNC chairs who signed the letter. “During my time as Governor we tripled our exports in 8 years, helping Pennsylvania become the 9th fastest job creating state in the Union in 2010.”

All their bright scenarios sound reminiscent of the crap they fed Americans in the begging with NAFTA…..none of which came true……as usual they are empty promises from the wealthy to sell BS to the public.

Speaking of empty promises…..back in 2008 candidates Clinton and Obama both stated that if elected they would re-negotiate NAFTA……I’m still waiting for that promise to be fulfilled.

These agreement do work wonders but not for the middle class…….the middle class since NAFTA has been stagnant and in some cases declining because of these agreements……and yet there are more and more of them and the middle class continues to be eroded away…….the only Americans profiting from these agreements are the wealthy importers/exporters.

No where will this or any other pending trade agreement to strengthen the middle class or make it more secure.  So far the term “middle class” is a lie to promote a situation that generate more wealth from those at the top.

Pro middle class slogans does nothing to help……….maybe Americans should stop reacting positively to dog whistle slogans and start demanding that the middle class becomes truly important again.  Or lose it forever!

Whatcha think?

What Is Needed Is A Plan!

Meanwhile ….back at the debt…….

You are damn right!  We need a deficit plan…..a energy plan….an environment plan….and sorry a week of 30 second ads and 3 minute stories is NOT the way to formulate a plan…..and a 2 year cycle of elections is NOT the way to come up with a viable plan……WE NEED A PLAN!

It is that simple!  Instead of all the wrangling back and forth between the two cowardly parties, that have nothing to offer but their personal agendas……the whole time the US is sucking tit when it comes to the economy and most notably our industrial base (actually there is not much left of a once dominate sector)….all we have now are a couple of people that spend all their time sniping at the other side or throwing slogans around like confetti or worse yet, arguing about the fate of NPR….NONE of this will return the US to prominence on the world economic stage…….blame China or India or anywhere else all you want….but the truth is that our politicians have pull the trigger on the execution of the American industrial sector…..blame NO one but politicians….both Dems and Repubs…they are ALL to blame and no amount of finger pointing will stop the demise……

The Washington Times, which you would expect a slashing editorial against the prez, has said the following:

President Obama’s “policies have secured America’s status as part of the declining world.” The Times further wrote: “[T]he president’s answer to economic crisis is to heap on more debt. It’s this crippling tax-and-spend Obama creed that’s bringing America to the brink of Third World inferiority.”

To be honest…there has been a plan for the last couple of decades….the conservs are just as guilty as the dems for the downward spiral of the US……and that plan entailed……

fiscal discipline…..control public expenditures…..tax reform……liberalize the financial sector…..liberalize the trade sector…….promote foreign investment……privatization o0f state enterprises…..Deregulate the economy……there you have it…the plans down over the last couple of decades……and finally, how has that worked out for you?

Yes, Irene….WE NEED A PLAN!  Not some half ass reform that last two years at best….we need to develop a short term, mid term and long term plan and make it law so that it cannot be f*cked with by some elected official to win an election…..we need politicians that are serious about making this country strong again…not one sector over another…..WE NEED A PLAN!

Send A Thank You To Our Leaders

Inkwell Institute

International Desk

We have heard all the political rhetoric about the decline of American trade and how we are losing the race to the Chinese and the Indians….the Dems blame the lack of education and innovation…the Repubs blame it on the debt…they blame everything on the debt…..but are they just bumping their gums or is there truly a decline?

According to the prestigious firm of PricewaterhouseCoopers:

According to the report by PwC, the coming years will see global trade undergo “fundamental change” as emerging economies such as China and India begin to “dominate the top sea and air freight routes”.PwC’s findings are in line with the World Bank’s prediction that China’s economy will eclipse the US by 2030, if it can sustain its growth.

Its chief economist Justin Lin said on Wednesday that, if China continued to grow at an annual rate of 8%, it would be twice the size of the US economy in 20 years.

It is official……if we continue to do NOTHING we will become a second class trader in the world economy…..but what can we do is build a fire under the lame ass pigs in Washington that have created this situation…them and their special interest handlers…….thanx to such dynamite things as free trade agreements and banks that do nothing more than move money around and paper work…..they, banks, no longer invest in America and that is where we have gone terribly wrong, by allowing these people to do this and get away with killing an industry…….

What we need are politicians with courage and that is a dying breed……we need people that care about their country and NOT the next campaign…and as long as we allow this situation to continue the quicker we can kiss a prosperous country good-bye!