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1021. Humpty Dumpty Joe [Biden]

 I've been quiet enough. It took me a long time to get on Obama (OBlunder) when in his times he screwed up America along with his sideki...

Saturday, April 28, 2012

571. Can we believe Timmy Geithner re economy?

Reuter's release an article "Geithner: Can the U.S. withstand any Europe stresses" a few days ago where Timmy paints a rosy future economy despite the troubles in Europe. I like optimistic news. However, I don't like other statements he made that I cannot accept as facts without some evidence. For example, "There's better protection for intellectual property rights in China, less piracy against U.S. firms" and "China is gradually dismantling a range of the subsidies that their firms enjoy which gives them an unfair advantage." Less piracy? Show me Tim. Also, the only subsidy I saw back in 2011 that was supposed to be eliminated was Wind energy products. And, that was because the WTO put extreme pressure on them after U.S. objections. But, how about steel, aluminum, solar panels, paper, chemicals, etc. Again, a lot of complaints to WTO, but NO action that I can see. What I do see though are bills passed recently signed by Obama that impose tariffs on several of these products. In other words, a counter measure and hints of a trade war instead of Chinese cooperation. So, what was won? In the last 2 days I also saw an article where Russia and China signed a multi-billion dollar contract to work together on airliners. Oops. Timmy forgot to mention that there are other ways to "steal" jobs from U.S. workers: Build your own products! And, guess what? They will build with their OWN raw materials that they have been purchasing for years -- both raw and manufacturers. And we are to believe the demand for our products will remain the same or increase to grow out economy? Oh, Timmy. You seemed to fail to tell us about all this and many more issues hurting America LONG-term because you and the OBlunder administration rather provide a "quick" short-term, but ineffective long-term, solution to maintain jobs in America. Do you realize that tariffs on imports increase products to consumers. Thus, effectively, another hidden "tax-increase"? I wish all people were capable to see beyond the smoke and mirrors and rhetoric. Sorry, but I can't show respect to people who continue to run us into a ditch while collecting high salaries from the tax-payers to just finish there short-term assignments without regard to long-term effects. Let's see: about a month ago we lost an opportunity to shine in the drilling business in the Arctic with Russia taking the ball. Now we see Russia and China take the rug from under our U.S. airline manufacturers. Granted, not a major impact short term, but China is NOT in the short-term business. When you have the wealth, you can maintain the status quo for years without giving up concessions. We need an administration who can think both outside the box AND inside the box. Right now we have one that is totally ineffective in preparing America for long-term. Soon the band aids will come off and the wounds will NOT be healed.

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