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Obama Opens Car Front In Chinese Trade War
In Ohio today, President Obama will announce the latest World Trade Organization suit against China, this time addressing "unfairly" imposed duties on U.S. auto exports. The Administration will argue that these duties violate international trade rules. Whether or not China will reply that buying US 10 year paper at 1.6% is also unfair remains to be seen. But at least someone is happy. As reported earlier, ADP reported just 4,000 manufacturing jobs were added in the US in the last month: these are the same people who are supposed to be doubling US exports in Obama's latest 5 year plan. Good luck. Anyway, here is the take of the Alliance for American Manufacturing to this simplistic attempt to trade union for long-term stability with America's largest trading partner.
"American workers and manufacturers strongly support President Obama’s decision to launch a trade enforcement action against China’s unfair auto tariffs. The deck in China is stacked against American automakers and workers, and this case will help to level the playing field.
"Less than one percent of the estimated 18 million vehicles sold in China last year were made in America, despite the fact that the Detroit Three brands are growing more popular every day.
"This Administration has a stellar record on enforcing America’s trade laws and has not hesitated to take action to defend American workers—today’s announcement is further proof of that. But, there is more work to do.
Uhm, what deck? And the administration has a "stellar record" on somethning? One learns something every day. And considering that more than half of GM's cares are sold in China, once China retaliates to this provocation, it is virtually assured that the bailed out labor union car maker will see its stock price plunge to new post "IPO" lows in the next 2-4 months.
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Tariffs!
Only question was who leads and who follows in this tragic tango!
What is the WTO?
http://www.youtube.com/watch?v=ncXaa57mmRU
"...the Japanese automaker Honda is crossing the threshold by importing subcompact cars into Canada from one of its plants in China. This month, Honda Canada began receiving its smallest model, the Fit, from China..."
http://www.nytimes.com/2011/12/21/business/in-a-first-chinese-built-cars...
Quote
Less than one percent of the estimated 18 million vehicles sold in China last year were made in America . . ."
This is true.
Most of the 18 million vehicles sold in China last year were made in China.
By G.M.
By Ford
By Chrysler
By Volkswagen
Why would the Chinese buy a car made in Detroit when they can buy the same car made in Shengzun?
This story is one more of "There is an election on so we better baffle the voters with a ton of bullshit so they don't figure out how we keep pulling rabbits out of their hats and dollars out of their pockets."
I TAX YOU AND YOU TAX ME?!!?!!??
HOW DARE YOU!!!!!
Obama translation - "We need a good (trade) war to distract the plebs from their (coming) misery."
Obama translation - "We need to appear to support the working man as we need the working man's vote in November."
Obama translation - "Teleprompter made me do it."
Free? You're not free.
You have owners. They own you.
http://www.youtube.com/watch?v=HeMGqTwWA6U
What amazes me about this George Carlin video is that he's telling the 'public', his audience, that "the public sucks". And the public, his audience, is laughing and cheering that they were just told that they suck.
Of course this can only happen if most, if not all, of the audience, the public, considers themselves to be special, to not be like any other person in this so-called "public". Thus Carlin is not talking about them, but about all the others, the other "public" I suppose.
Forget Jedi mind control imposed from outside. This is self imposed Jedi mind control and the ultimate art of self deception. And why we are all so easily controlled. We believe we are not being controlled, but rather just those other people over there. They are the ones being controlled.
You know, the "public".
Your name is extremely apropo to the subject matter. I can only, in giving his audience the benefit of the doubt, assume that they may have felt that their being there, paying to hear him speak, was indication enough of their distinct nature from the rest of them rabble.
I call bullshit on all of it....why would they export cars from the US when Ford and GM have plants in China to make cars
Edit: And at much, much lower labor costs
Because Ford and GM have automobile plants in China that essentially make "Chinese" cars. The more affluent Chinese want American cars, not Chinese cars made by American companies in China.
Hhmm, some original American cars are cool for sure from an aesthetic marketing point of view, but ever checked who was to made them in Detroit?
87% banana , formerly displaced plantation workers made sure quality and appearance stayed at sub-Russian levels.
Most of Europe never got over that sorry point of me-too cars, only the Japanese ever got close to challenging the real German thing but retreated when the real thing churned out every shit too in every sub market section . Anyone driving some shitty non V8 vehicle please feel offended, no overrunning of Zombies for you.
Surely early American German settlers included plenty or all of gunsmiths` but American small arms suck too these days, shitty shafting and poor trigger action are the hall and trademarks of otherwise reasonably made guns that just
keep up with 19th century quality expectations.
And this I wrote in praise of America, anything else except
horse meat is pure BS that gets exported.Anything short of Germanic looking virgins , I see nothing Europe would trade
with her former partner in crime once the EURO/FDR scam collapses.
This makes Angela bitch look cool, without shades.
Blame Europe didn't last long.
Zing!
Looking for reelection campaign funds from .cn?
When real goods and services stop crossing borders...
In Oceania we are up to our ninth 3-year plan.
China lends us the money so we can pay their tariffs, whats the big deal?
The Empire of Lies does not consider those terms "fair".
Chinese can use more dollar for RMB swaps
Anyone who trades currencies can. Do you have a point?
How long before the shooting starts? September? October? We need a good false flag to get this ball rolling.
The false flag that triggers a "state of emergency" will occur in America (and could be anything from terrrrsts, to bank 'failure', to disease 'outbreak') ... and, yes, in September or October (IMO). After the Olympics and before the election gets cancelled.
China will not be shooting anyone (unless they go to China to get shot at!). China is in on the globalist gig.
The synergy of Obama's Harvard Intellect and the legendary UAW work ethic will be tough for the Chinese to overcome.
Legendary, mythical, whatever...
LOL...
In this case, perhaps he needs to apply a little "Occidental College" intellect...
Stop sending them Volts & start sending them "Choom Wagons" & maybe sales will pick up...
I hope China doesn't retaliate by raising the prices of everything at WalMart.
An army of enraged perspiring WalMart shoppers would not paint a pretty picture.
Oh, thanks very much! I'm not looking forward to that image reappearing in tonight's dreams....
1) Who would commission an army of sweaty Walmart shoppers to paint a picture?
2) Why would anyone dream about it?
Check out side-butt for a new low
http://www.peopleofwalmart.com/photos/page/7/
let's see, record heat this week, no power, oh yeah, I'm off to see the sights at Wally World
the usa lost the trade war decades ago. of course the chinese had help from some uber-rich maggots in the usa.
We call them politicians. We elected them.
He should retaliate by putting Tariffs on everything China sends to the US... then again raising the cost on everything at Wal-mart before an election probably isn't a good idea
What is the Mandarin translation for "Eat your peas?"
The crunch is coming and it plays better with the masses if some bunch of foreigners can get the blame, playing with fire to make it the Chinese though. This administration does have a top notch reputation for it's corruption
It's only unfair when the tariffs are placed on your exports. Meanwhile never a peep from the unions when puts the tariffs up on imports. Peak hypocrisy.
Thanks for "protecting" us from lower prices, unions! Oh. And your pension is probably broke because you keep electing politicians that don't prosecute fraud. Enjoy.
Uh...Amerika has decoupled from the ROW, so this shouldn't matter. /sarc
And once the TPP is in place he'll have much more leeway after he's re-elected to ship the remaining auto manufacturing jobs to China and there won't be any more need for unfair Chinese tariffs.
TPP = Trans Pacific Partnership
http://www.ustr.gov/tpp
Obama pandering for votes as usual. What a pathetic excuse for a leader.
Oops!
Overstocked.
Too many volts sitting around. And China won't let any more in.
Shocking! Absolutely shocking. Hoo Flung Dung say 'sue me!'
German police take of helmuts and march with German citizens against Rothschild European Central Bank.
http://tinyurl.com/7us3ba5
Quite a few countries slap duties on imported cars. China does it based on engine size and a big chunk of it is to moderate the car explosion over here. Our cars easily cost at least twice what you pay for them in the US... and we don't finance, we all buy in cash up front.
As it stands right now, China doesn't want more cars on the roads, seeing how the incentives and tax benefits were killed off for manufacturers. Pont remains the same, if you want to sell in China and not get hit with duties, you have to do a JV and build them here. Nothing crazy about that at all to be honest. Deal with it you whiney little shits.
Oh, my! It appears as though the sleeping dragon has finally awakened!
You mean we don't build them there already? Well, let's open a factory and within a year or two we'll be buying Buick clones.
The duties force foreign OEMs into doing JVs with local partners who can then rip off their intellectual property while benefitting from the local manufacturing value add before kicking their "partners" to the curb. Nothing crazy at all about that is there, my friend?
Your point about more cars on the road is total nonsense. The Chinese people want cars as they move up the ladder economically and China's regional and local officials want to produce or retain jobs. You're as full of crap as the proverbial Christmas goose.
Stocks start down Monday. Here's why:
1. NFP big beat
2. NFP beat shelves QE
3. Bad earnings roll in.
SP sinks to 1170 just before, yep, Jack-ass-son Hole starts. Bernankie goes QE, stocks riseuntil Novemebr.
All part of Obama e-election plan.
Squirrel!
< / DUG >
Well, if they don't like buying Treasurys why not sell them. That's what I'm doing. Oh shit, there I go confessing my unpatriotic conduct again; and right after independence day too (hmm, this means something). It probably means I'm going to get served and sued by the WTO myself any day now.
MC: Tell him what he's won Johnny.
Johnny: You've won a one way trip to fabulous Camp FEMA. Camp FEMA is much more than just a destination, its a whole new way of life. Your stay will feature 3 hots, a cot, and an extensive Mao-inspired re-education curriculum. Retail value: at least $19.95
19.95? IS THAT ALL?!! It cost me half my pay to send him there!
I want my money back!
Travel to the former Germany and see at the concentration camp sites re-inacted exhibitions how leisurely things originally started there.
The better ones, further from the East, further from recorded official history.
Most participants of this government`s make work and be useful scheme did not quite survive, but those were hard times.
The cynic language stays the same or worse, beware of the spin.
Unions must be pusing Barry with Shumer and Pelosi leading the way
How about we declare a trade war with Singapore! Their import duty is 31% on cars. And the registration fee is 140% of the value. And the certificate of entitlement to purchase a car is $50,000. A low end Ford winds up costing about $120,000.
Instead of annoying China, which is a waste of time, let's pick on a small country (as usual) we can easily intimidate.
Do they have any oil? Then we need to send in the carrier groups before the Singapore WMD's are used against, um, whoever the hell their neighbor is... Indonesia or some thingamajig country. Then Singapore can have free elections, and the MB can take over. Hail Obama!
Last time I went there , those taxes did rather encourage
them to drive around in decent V8 mercs for showing off and in plentitude as if they were to be had for 70 gran second hand just as here...Style is the division, island economy
or not
This is too sickening even to comment.
"Less than one percent of the estimated 18 million vehicles sold in China last year were made in America, despite the fact that the Detroit Three brands are growing more popular every day.
WTF is that... so if MACs are popular in US, Chinese gotta eat MACs? Utter Nonsense coming from POTUS.
Trade War on the way. Probably impacts China more than the USA. The notion that the US is dependant on China to buy the US's ten year debt is technically wrong. When China sells the US all the junk that we consume, China gets US dollars and the digital money sits in their account at the Federal Reserve. When the FED implements ZIRP, China does not earn much on their funds at the FED, so to generate a little more of a return, they buy 10 year Treasuries. The US is not dependent on China buying its debt.
The US IS however entirely reliant on Chinese goods for multiple reasons.
First off, the US doesn't even bother buying the good quality stuff here, nope, just the cheapest possible to ensure the highest margins.
A widget that is FOB cost of $1.50 magically becomes $100 by the time it hits the US shelves. What happens to that $98.50 in between? Everyone's gotta take a cut along the way. Shift all that over to the US and one of two things will happen.
1) That $98.50 goes poof and vanishes to maintain the $100 price point, and along with it a whole shitload of jobs.
2) That $100 price point gets jacked up in a major way and the "middle class" suddenly realizes it can't actually afford to buy things. Sure, there are some more manufacturing jobs maybe, but that's not gonna support the economy. NIMBYs are not gonna allow the facilities required to make it happen either.
Does this hurt China? Sure, somewhat, but honestly speaking not a whole lot, it WILL however hurt you a whole hell of a lot when 80% of your population suddenly discovers it cannot afford shoes or other things it takes forgranted.
What will China do when it stops buying your notes? Welp, it can start by buying all your damned oil. Free market after all. China and the rest of the world can deal with $10 oil... the US panics and starts getting weird when $5 is within striking distance.
What is being ignored entirely here is that the US is infrastructurally dead. It doesn't just pop right up overnight. That takes serious time and effort. Nor is any sane company going to be manufacturing in the US for high cost when literally every other country is still available. So do feel free, go right ahead, attack China, you're not solving a single problem of yours. More likely than not, you'll actually be making the problem worse.
And of course, this won't work out anyways. The US market is small and shrinking. Hell, a sixth of you are on food stamps and can't even afford to feed yourselves. Everyone is just buried in debt and what little is left is eaten up by pointless and/or overpriced services. A handful of manufacturing jobs spitting out overpriced garbage isn't gonna fix or change any of that... sorry.
I owe nothing and haven't for years. I can not believe the price retail wants for anything. And it was that way even before '08. I will not buy anything that I do not absolutely have to have and if I can get by without it I do. Fuck the world. I save a Lot of money with that attitude.
I am not attacking China. Simply explaining the likely result of a trade war. The U.S. has problems and so does China. China will have problems until it can create sufficient domestic demand. Selling goods to the U.S. simply means that China accumulates a lot of dollars. What is China going to do with those dollars ... sell them and buy there own currency. No, they don't want a weak dollar as that would price them out of the market. The U.S. has its problems - fraud has become the mainstay of the free market. Companies will do anything to make a buck and that does not get anyone and especially society anywhere in the long run. You almost wonder what capitalism will be like in years because it is on its way to a total collapse.
Couldn't they just have said "Obama Opens Car Hood...?"
Is that racist?
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Junk! This is off topic. This ain't a chatroom, leo_21.
True story: I bought some shares of LDK because I liked Leo Kolivakis's spunk (pun not intended). Sure I lost money, but it felt right at the time.
So is Leo back, only to pitch us used Japanese automobiles? I guess pensions really are underfunded and there are no answers. LOL
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