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Live Webcast Of Obama Firing The First Round In US-China Trade Wars
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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Skynet has already won.
Great, a trade war, that always helps a tottering economy, does anyone read history in our idiot Govt? Forget it, I know the answer....
makes for great cover for lying politicians and bankers however, who don't want to discuss the real causes of the economic disaster.
john39, excellent point. Now inflation can be blamed on:
...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
History no longer matters, REALITY no longer matters...
PERCEPTION is the only thing that matters to the Berkeley Radicals in charge of America , now.
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.
Also Berkeley Radicals would have legalized marijuana about 4 years ago before they even signed the Guantanamo Bay closing documents.
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!
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.
...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.
Does anyone know who the two gentleman on either side of Obama during his speech are?
Just curious.
Kick em while their down
More U.S. Exports down the drain
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.
Is this about the rare earths? Can't wait...
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...........
* 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!?!?!
Yeap. It's official. You can't make this stuff up. Truly mind boggling.
iAlgo...
iBridgetonowhere
Shots on "American workers"?
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.
I got popcorn peanuts candy for the kid's and beer for mom and dad! $3 each!
Dow Jones 13k hats here! Get your Dow Jones 13k hats!!
Add some dead bodies and Faygo to the mix and you've got me.
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?
Just election rhetoric. Bullshit as usual.
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.
For a citizen of the world Obummer sure picks a lot of fights.
you have to fight club your way to the top
Sorrento wants to be king (christ) of the new world.
"......................................................."
Simple solution to this: Raise Tariffs. Come on Amerika, I dare ya.
He's going to be late, again.
Bet he is never late for those vacations and campaign donor dinners on the taxpayers dime.
Or his tee time. On the other hand, the pompous clown probably just shows up whenever he feels like it. Dat how Hopey roll.
This will be interesting.
Doubtful the obummer has fortitude to start trade sanctions against china.
LOL. That's like threatening you by punching myself.
...or shooting yourself in the foot with a .22.
Very simple solution.... carbon tax which is also applied to imports... simultaneously drop payroll taxes which deter job creation....
You belong in Obama's administration!
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....
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!
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....
You cut me real deep, flak. Real deep.
@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.
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...
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?
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.
Everything is made in China. All you will do is make everything more expensive for Americans.
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?
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.
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
No. I think that the companies presently headquartered in america will move to more pragmatic locations and cut us out of the loop entirely... if need be, getting their labor from some place other than china, but still not the expensive U S of A. Your premise is based upon forcing U.S. companies to hire american workers instead of outsource... well, good luck setting the tariffs at just the right level to avoid exodus of the remainder.
say it with me, standard of living normalization.
I'll give you a hint, they are doing it already...
Standard of Living Normalization.... yep, combined with cross-border regulatory arbitrage and looting by the plutocrats...
Now that is a plan... Mitt and Barack and those that buy their favour agree with you 100%
Say it with me until it sinks in... you are impotent to remedy the situation, sans hard work and ingenuity (and even that may be optimistic). Tariffs will not result how you think.
Back in the 70s and 80s a slogan was "Buy Made in USA, the job you save may be your own". American workers, companies and politicians supportive of jobs remaining stateside were labeled "protectionists".
Multi-national corporations, international bankers and our own elected officals placed an embargo on America years ago when they started moving our jobs to other countries.
Can't believe CNBC is showing Nassim Taleb promoting Ron Paul at 11:00am. Usually they wait until 5:00pm before mentioning anything RP.
Sad part is that it was the first time he's been on CNBC since 2010, guarantee they won't have him back for another 2 years.
@ Beso
And they even gave him enough time to explain why he is for Ron Paul as well as outline his new thinking ahead of publishing his book.
Best thing I have seen on CNBC since Rick Santelli set off the Tea Party!
He is a genius! Take a shot at the State that buys (or rather, bought) a large part of our debt. And not by discontinuing NAFTA/GATA, but by making empty statements about the nature of their business. Genius!
Big deal.... If the Chinese dump treasuries, Ben will buy them up....
Yeah, big woop. It's not like the Fed owning all Treasurie debt is a big deal.
Thats what our friends in the UK are for..... They're good for 5-10%....
I see he is on time as usual. Nothing like an arrogant, narcisstisic, egomanic TOTUS. This man has no consideration for the time of others.
He had a rough time on the back nine this morning.
BRICS meeting in India March 29..........Main topic is US DOLLAR.....
http://english.ruvr.ru/2012_03_13/68315161/
Sounds like a good day to start "kinetic actions".
World War III - The First Private War in History
Those who won all battles shall lose the war.
Bilderberg Group and the crimes against humanity.
This is how things work in all countries. Whatever used to belong to their people, today it belongs to the multinational companies of the Club. People were betrayed by their given leaderships and they lost everything. Capitals and markets were handed to the Club bosses. If you understand what is going on in Greece, you can understand what is going on in Britain, France, and Germany etc..
http://eamb-ydrohoos.blogspot.com/2012/02/world-war-iii.html
Authored by PANAGIOTIS TRAIANOU
silk road route to AFRICOM regions. ni hao bitchez.
Wonder if the TOTUS will mention the Green Hilton agreement, where the US stole the Chinese gold? They want it back.
At least the conference started on time.
Even though this sentiment is anti-US in a sense....I'd get the BIGGEST pants tent if China started a trade embargo with the US and forbid vendors to do business with American Companies (or charged those corporations huge tariffs).
God forbid, corporations would have to bring jobs back home! Gasp! The horror! (Although they would probably just ship them to Vietnam/Indosnesia....my company already has).
BTW, love the fact that he is doing this during an election year. Love how all politicans like Obama and Scott Brown suddenly become "bipartisan" and "for the people" when their ass is on the line. Then when they get re-elected, they serve the only people that really matter to them....the corporations and big donors who write them checks.
And the ruling itself, no matter what it is, it most likely won't result out of anything; the US ignored WTO rulings (Antigua and internet gambling)...why can't China?
Obama ran this campaign four years ago and he never went any further with it. He is not to be trusted on his word when it comes to China. Nor do I believe Romney would do anything any different. They all are beholden to cheap labor and it is shameful. Tariffs are necesary when labor costs are this obtuse. How else do you expect an American to compete with a Foxconn worker making 70 cents a day?
ummm ... Eat less? Drive less? Make do with 1 car per family (or a bicycle)? Eat off wooden countertops? Keep using an iPad1? Cancel the gym subscription? Use the swimming pool as a veggie patch?
Change zoning laws so people can live in mud shacks with chickens in the backyard?
all if the above, but i prefer the indestructo-cheapo-plastico-plates, and i don't mean pilates, dogg!
Obama is practicing for his emporer of the world speech.
Ohhh all the BS today. CNBS is saying that retail sales were up and even better that department stores showed a huge increase in february.
What is really funny is that. Went into Sears and JC Penney one week and there were thousands of units of clearance merchandise on the shelves. The new summer stuff was going to come in the following week. I went in on Saturday and nearly all of the clearance stuff was still on the shelf. I went in on Sunday and all the clearance was gone replaced with summer merchandise.
Now unless thousands of customers flocked to the mall with one hour left in the selling day and bought up all the inventory, all the clearance stuff was packed up Saturday night so it could be sold to discount wholesalers.
So yes department store sales did increase in February, but not because consumers bought products. SALES INCREASED BECAUSE MILLIONS OF UNITS OF INVENTORY WERE LIQUIDATED. Still counts as a sale though on paper. The Russian mafia is going to have some good shit to sell on the black market this year.
I am always amazed at how little Wall Street actually knows about how commerce actually works. I guess that is because Wall Street is actually not reliant on commerce to work.
Retail includes a large amount of gasoline sales which are up on price and not volume. I believe you can infer that most sales numbers are simply inflation. Thank the Chairsatan.
must be taking one last hit on the bong
if only he were, drugs are good
agreed, if he hit the bong or ate some shrooms things would be good for us "little people". More likely he's crushing up his Wellbutrin to snort and he has the drips.
Monetary Deflation - Not Visible Yet
http://jessescrossroadscafe.blogspot.com/
.
Michael Scheuer on the Economics of War with Iran
http://geraldcelentechannel.blogspot.com/search?updated-min=2012-03-01T0...
.
for while we wait
.
Elizabeth Warren On AIG Tax Break: It's An Extra Bailout Worth Billions
By DANIEL WAGNER 03/12/12
http://www.huffingtonpost.com/2012/03/12/elizabeth-warren-aig-tax-break_...
Please keep in mind that it is still lying, even if one believes what one is saying, if there is no rational basis for said belief.
YOUR POLICIES (America) is preventing America from digging up its own rare earths. Their case is they want to force China to export rare earths?!
Ummm, like, you aren't supposed to notice that, go be a good sheeple.
Do everything possible to avoid depleting strategic national reserves.
Until the endgame...
exactly, somehow I pray there is a 1% chance they actually know what they are doing lol
MaObama,
Don't forget to tell the sheep about Sudan sanctions. China then decided to build an airport.
China to build $1.2 bln airport in Sudanhttp://af.reuters.com/article/topNews/idAFJOE71E03420110215
If China would let the markets work on their own? What the fuck? How about letting our own markets work instead of manipulating them you ignorant tool?
Green arrows for anyone who calls him a tool!!! Makes me smile.
now i'm scared
Wow!
That was quick!
That's it? Rare earth minerals...this is just as I predicted...ZeroPoint children!
i hate your mother fucking guts shit cake!
Uh
Rare Earth = Afghanistan ...
Press pause to release play.
worth 1 Trillion USD
I have a bridge to sell you....
soon, a loaf of bread is going to cost $1 trillion.
Any guesses on the form of the first retaliation?
Obama:
See the pattern?
...all I got was liberate the rare earth people.
See what drinkin' does for you?
Coming soon: $3000 iPods.
this is all choreographed at the highest levels imo
why, just yesterday, china said it wuz gonna stop letting its currency "unit" continue to "float upward" anymore, either!
L0L!!! the rare earths will be decided by some NW0 WT0 UF0 against china, even as russia "invites" canada to new trade agreements b/c they "export similar things"
but china is saying something "strategically" around "iran" here too, i would think and we haven't bombed syria yet, either, have we?
hey! maybe later today, between meals!
the emotional value of "rare earth metals" is now a plaything of the pols
here, prez0 gets to pretend he is in "control" of trade & commerce
the crowning joke is the MIC and its corporate wing-nuts have just "surveyed" the minerals in afghanistan, and we are drawing "agreements"between the two "nations" even as prez0 chirps and slewie writes about the script in way less dramatic terms than tyler
so, fuk china! and Free TiBet!
Its ok......really....obama says we are going to be a manufacturing nation......really......
Carney makes my skin crawl. Unabashed professional slime-ball.
Doesn't Jay Carney remind you of the friend that lives in his mother's basement?
He reminds me of that creepy guy who pulls the wings off of insects and dissects roadkill.
Nah, we was a child who found his underwear pulled over his head while receiving a toilet swirly.
Just another political douchebag who will never actually address a question posed to him. I work with tons of 'em. Talk all day, say nothing.
the election is coming - time to talk tough on trade while sending someone over to let them know he doesn't mean it (again)
Blah blah blah....you mean ol Chinease people....blah blah blah
(buy our bonds please)
Blah Blah Blah.....trade imbalance....blah blah blah....
(continue to make cheap shit for us because no one can afford anything of quality made by Americans anymore)
Blah Blah Blah....we need mutually benefitial relationships where we can all prosper.
(Of course we will renew Most Favored Trade status.....this is all smoke and mirrors for the stupid sheeple)
Hey america! You have rare earth mines too. Oh wait? What's that? It's cheaper in China and you don't have to worry about the devastating damage that processing does to the environment? Welp, time to shut down those mines in the us then!
*several years later*
BAWWW, china's not playing fair! they won't sell us things we already have but don't want to dig up ourselves!
This is literally the entire fucking basis of the argument.