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Live Webcast Of Obama Firing The First Round In US-China Trade Wars

Tyler Durden's picture




 

If there is one thing that can be said about Obama's previously noted announcement at 11 am Eastern highlighting "new efforts" to enforce our "trade rights" with China (aka launch the stray inaugural .22 calibre bullet into the China-US DMZ) is that the algos in charge of the market will love it and send stocks soaring just because. Oh, and if China were to just incidentally make live for FoxConn products that little bit more difficult in retaliation, so be it. That will be bullish as well, certainly for the NASDAPPLE.

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Tue, 03/13/2012 - 11:27 | 2250492 battle axe
battle axe's picture

Great, a trade war, that always helps a tottering economy, does anyone read history in our idiot Govt? Forget it, I know the answer....

Tue, 03/13/2012 - 11:44 | 2250552 john39
john39's picture

makes for great cover for lying politicians and bankers however, who don't want to discuss the real causes of the economic disaster.

Tue, 03/13/2012 - 12:34 | 2250684 Hobbleknee
Hobbleknee's picture

john39, excellent point.  Now inflation can be blamed on:

  • Global warming
  • Overpopulation
  • Earthquakes
  • Flooding
  • Drought
  • Bad weather
  • Good weather

...and lastly, the trade war.  But maybe it will be branded as the War on Trade ® to sound trendy.  In short, everything will be blamed for inflation, except of course, money printing.

_____________________________________________________________

Compare gold and silver prices

Tue, 03/13/2012 - 11:45 | 2250557 FlyoverCountryS...
FlyoverCountrySchmuck's picture

History no longer matters, REALITY no longer matters...

PERCEPTION is the only thing that matters to the Berkeley Radicals in charge of America , now.

Tue, 03/13/2012 - 12:08 | 2250610 Lost Wages
Lost Wages's picture

I think if Berkeley Radicals were actually in charge of America, I would be happy. Instead I have a Crypto-Conservative Faux-Liberal in the White House. What gives? Why are our perceptions of reality so different? If Obama had bailed out the lower class like a good Leftist, maybe even doubled or tripled the minimum wage in the process, this shit would all be over, because that liquidity would turn into consumer spending and small business investment. They'd even get the inflation they want! Instead the Obama administration bailed out the rich like the right wing pigs they are, because when you give money to people who are already billionaires, it doesn't seem like charity. You tell the poor you're only doing it for fiscal purposes and have the far right call you a Socialist to make you seem less Republican. Lies lies lies. Everyone is badly confused.

Tue, 03/13/2012 - 12:12 | 2250622 Lost Wages
Lost Wages's picture

Also Berkeley Radicals would have legalized marijuana about 4 years ago before they even signed the Guantanamo Bay closing documents.

Tue, 03/13/2012 - 12:18 | 2250632 Lil Ms.Homesteader
Lil Ms.Homesteader's picture

And if you're still focusing on the left/right/democrat/republican paradigm, you're missing the big picture. They are one and the same. You'll have to look beyond the American Idol Politics to see the real deal!

Tue, 03/13/2012 - 12:35 | 2250691 i-dog
i-dog's picture

You think "doubling or tripling the minimum wage" will turn into "small business investment"?!?!?

Good grief! I sure hope you learn some economics when you eventually get into high school.

Tue, 03/13/2012 - 12:49 | 2250754 BeetleBailey
BeetleBailey's picture

...as are you apparently. Obama is a sock puppet. I, for one, am sick of the man. I thought I was sick of Bush, but this shitheel takes the cake.

"Bailing out" ANY class is asinine. Obama "says" he fights for the middle class. Bullshit. He is destroying the middle class, and pounding small business with his over-regulations, taxation, and his now "fight" with China over trade will end badly for the former Baskin Robbins pooper scooper.

America deserves what it got. A completely over-his-head "good speaker" - with ZERO experience. ZERO.

This, from a failed rich kid, a career government employee that thinks with his dick, and a older rich guy that led with his nose.

 

Tue, 03/13/2012 - 15:00 | 2251199 BLOTTO
BLOTTO's picture

Does anyone know who the two gentleman on either side of Obama during his speech are?

Just curious.

Tue, 03/13/2012 - 13:41 | 2250962 HarryM
HarryM's picture

Kick em while their down

More U.S. Exports down the drain

 

Tue, 03/13/2012 - 14:14 | 2251090 Breaker
Breaker's picture

Relax. There won't be a trade war. It's election year. Obama will talk about it. Then it will go away after the election.

Tue, 03/13/2012 - 11:00 | 2250376 GeneMarchbanks
GeneMarchbanks's picture

Is this about the rare earths? Can't wait...

Tue, 03/13/2012 - 11:38 | 2250523 A Lunatic
A Lunatic's picture

Yes, since China had the foresight to develop their own deposits and tie up some strategic reserves in other parts of the country, Obummer and Co see no reason why we shouldn't get our fair share (at bargain basement prices) so that we too can be competitive in the high-tech market.......... like that will ever fucking happen. It is much easier after all to blame China for the high cost of flat-screen TVs, mobile phones, smartphones and cameras rather than Uncle Benny Bucks and his (nonexistent) inflationary policies. I'm sure the Wall-Mart lobbyists can bring bring reason to the equation before things get too dicey...........

Tue, 03/13/2012 - 12:39 | 2250708 Hobbleknee
Hobbleknee's picture

* China peacefully buys resources. 

* The US invades "terrorists" to liberate them of their resouces at great expense to America.

WTF is wrong with the world!?!?!

 

Tue, 03/13/2012 - 11:42 | 2250542 tarsubil
tarsubil's picture

Yeap. It's official. You can't make this stuff up. Truly mind boggling.

Tue, 03/13/2012 - 11:00 | 2250386 LongSoupLine
LongSoupLine's picture

iAlgo...

Tue, 03/13/2012 - 11:22 | 2250476 prains
prains's picture

iBridgetonowhere

Tue, 03/13/2012 - 11:01 | 2250388 Wakanda
Wakanda's picture

Shots on "American workers"?

Tue, 03/13/2012 - 11:05 | 2250410 Conrad Murray
Conrad Murray's picture

Take it old school: Instead of shots, drop for sets of 10. Be ready to smash the Statists' faces until they're mush when the time comes.

Tue, 03/13/2012 - 11:07 | 2250419 JPM Hater001
JPM Hater001's picture

I got popcorn peanuts candy for the kid's and beer for mom and dad!  $3 each!

Tue, 03/13/2012 - 11:13 | 2250440 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dow Jones 13k hats here!  Get your Dow Jones 13k hats!!

Tue, 03/13/2012 - 11:15 | 2250442 Conrad Murray
Conrad Murray's picture

Add some dead bodies and Faygo to the mix and you've got me.

Tue, 03/13/2012 - 11:40 | 2250537 DeadFred
DeadFred's picture

You're correct that it's all about face. The Chinese are all over that topic. If he words things correctly the Chinese will blow it off as election year hooey. If he says a few poorly chosen words Beijing will be forced to retaliate to save face. Don't you love having so much riding in the hands of our adorable Kenyan? Besides, TLT has broken down through support so how will they sell 30yrs tomorrow without a bit of angst added to the euphoria?

Tue, 03/13/2012 - 11:02 | 2250391 Ruffcut
Ruffcut's picture

Just election rhetoric. Bullshit as usual.

Tue, 03/13/2012 - 12:02 | 2250599 Terminus C
Terminus C's picture

What are you talking about?  He withdrew from NAFTA just like he said he would in the last election campaign... to protect American jobs... he sure did yessuh.

Tue, 03/13/2012 - 11:03 | 2250392 Dr. Engali
Dr. Engali's picture

For a citizen of the world Obummer sure picks a lot of fights.

Tue, 03/13/2012 - 11:05 | 2250412 longdong silver
longdong silver's picture

you have to fight club your way to the top

Sorrento wants to be king (christ) of the new world.

Tue, 03/13/2012 - 11:07 | 2250400 longdong silver
longdong silver's picture

"......................................................."

Tue, 03/13/2012 - 11:03 | 2250402 spartan117
spartan117's picture

Simple solution to this: Raise Tariffs.  Come on Amerika, I dare ya.

Tue, 03/13/2012 - 11:05 | 2250408 ebworthen
ebworthen's picture

He's going to be late, again.

Bet he is never late for those vacations and campaign donor dinners on the taxpayers dime.

Tue, 03/13/2012 - 11:51 | 2250572 WonderDawg
WonderDawg's picture

Or his tee time. On the other hand, the pompous clown probably just shows up whenever he feels like it. Dat how Hopey roll.

Tue, 03/13/2012 - 11:05 | 2250409 ----------- End...
----------- End Quote's picture

This will be interesting.

Tue, 03/13/2012 - 11:06 | 2250415 crawl
crawl's picture

Doubtful the obummer has fortitude to start trade sanctions against china.

Tue, 03/13/2012 - 11:09 | 2250426 GeneMarchbanks
GeneMarchbanks's picture

LOL. That's like threatening you by punching myself.

Tue, 03/13/2012 - 11:44 | 2250554 espirit
espirit's picture

...or shooting yourself in the foot with a .22.

Tue, 03/13/2012 - 11:08 | 2250420 Flakmeister
Flakmeister's picture

Very simple solution.... carbon tax which is also applied to imports... simultaneously drop payroll taxes which deter job creation.... 

Tue, 03/13/2012 - 11:30 | 2250499 tarsubil
tarsubil's picture

You belong in Obama's administration!

Tue, 03/13/2012 - 11:43 | 2250551 Flakmeister
Flakmeister's picture

I think you would be able to help in formulating public policy in a Palin administration, because even you are not as clueless as her...

Did it ever occur to you that a carbon tax on imports would take advantage of American strengths? Cheap NG, the internal lines of communication afforded by the rail system for freight...

Did you know that on a carbon basis that the US is the most efficienct manufacturer of steel in the world? Jobs like that are good jobs, not McJobs, but you are too fucking thick to open your mind to the possibilities... Or do you think it is a good idea to keep exporting jobs??

 Implementation of a carbon and simultaneous reduction of payroll taxes is a win-win.... 

Tue, 03/13/2012 - 11:49 | 2250568 tarsubil
tarsubil's picture

You misunderstand. That was a compliment and a double entendre to boot! 

Most people who are smarter than [insert divisive establishment Republican name here], know that [insert divisive establishment Democrat here] is full of it and that a trade war with larger deficits combined with more government programs and interference with commerce and trade would be a good thing. I'd say a win-win-win!

Tue, 03/13/2012 - 12:43 | 2250724 Flakmeister
Flakmeister's picture

It's funny...

You have been a member for about 1 year and not once have I ever seen a constructive comment from you...

Or have I ever seen an infomative comment from you that shares new information or insight...

I have seen a number of comments from you that show a total lack of scientific or technical expertise...

Most of what I see out of you is some regurgitation from and for the echo-chamber, aka cheap shots from the peanut gallery...

You don't have the wits or the wherewithal to possess, let alone express, a minority opinion...

That my friend, is the definition of a sheeple, different ideology perhaps, but the fleece is the same.... 

Tue, 03/13/2012 - 13:01 | 2250803 tarsubil
tarsubil's picture

You cut me real deep, flak. Real deep.

Tue, 03/13/2012 - 13:29 | 2250904 MachoMan
MachoMan's picture

@FLAK

You realize that your green policies (which eventually are toothless unless we're willing to bomb other countries into submission) are completely and totally hypocritical?  That the same transgressions america has been guilty of should now no longer be tolerated in the world when it means the sovereignty and standard of living of other countries would improve?  What did the Chinese do at Copenhagen?  WHY did they do it?

You want the solution?  Develop green technology and export it to the polluting nations...  Your solution puts us on our heels indefinitely as a beggar and protectionist nation.

PS, the green technology will need to be able to perform its energy tasks more efficiently than oil.

Tue, 03/13/2012 - 14:11 | 2251077 Flakmeister
Flakmeister's picture

The green tech has been developed and already exported along with the jobs...

For example, where were photovoltaic cells invented?? At Bell Labs in 1954....

You really think that you can win a fight with the fossil fuel industry here? Fat chance...

In order to satisfy all existing trade agreements i.e. GATT, WTO, the tax has to be applied universally, imports, exports and domestic consumption..

If the Chinese want to burn coal, fine let them, but they are not going to be able to export products based on burning that coal at prices that undercut everyone else...

 

Tue, 03/13/2012 - 15:15 | 2251367 MachoMan
MachoMan's picture

In other words, you're calling for universal collusion among all developed countries to increase the cost of goods they import when they import most everything.  Let me ask you an ancillary question.  Did you ever play the prisoner's dilemma with a few people?  What happened?  For anecdotal evidence, does OPEC remain steadfast on its oil production quotas?

 

Tue, 03/13/2012 - 21:31 | 2252638 ebworthen
ebworthen's picture

Flak, Flak, Flak.

Another tax?

This will only play into the hands of the spendhungry politicians on both sides, and the tax will be applied to every American, their utility bill, their plug-in hybrid, the Wife's vibrator.

Tue, 03/13/2012 - 12:46 | 2250741 Hobbleknee
Hobbleknee's picture

Everything is made in China. All you will do is make everything more expensive for Americans.

Tue, 03/13/2012 - 12:52 | 2250760 Flakmeister
Flakmeister's picture

And do you think that we might start making stuff for ourselves again as a long term consequence of such a policy?

Or do you think that Americans need more shit made in China? You know the shit that is "As Seen on TV"....

Or do you think that the price of an Ipad going up $100 is the end of the world?

Tue, 03/13/2012 - 13:32 | 2250917 Hobbleknee
Hobbleknee's picture

How long do you think it takes to build a factory?  In the mean time, I guess you're okay with poor people freezing to death because they can't afford winter clothes.  China makes more than ipads.  Pull your head out.

Tue, 03/13/2012 - 15:06 | 2251121 Flakmeister
Flakmeister's picture

Thats one hell of a strawman you put together...

How many factories do we export each year?

Literally, clean out the building and export everything inside to Mexico or elsewhere?

I do not necessarily agree with their positions, but the following is a good source of statistics on manufacturing

http://www.itif.org/files/2011-national-manufacturing-strategy.pdf

Do NOT follow this link or you will be banned from the site!