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Thread: Trade Wars Brewing In Economic Malaise

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    Trade Wars Brewing In Economic Malaise

    Trade Wars Brewing In Economic Malaise

    Ordered by Congress to "buy American" when spending money from the $787 billion stimulus package, the town of Peru, Ind., stunned its Canadian supplier by rejecting sewage pumps made outside of Toronto. After a Navy official spotted Canadian pipe fittings in a construction project at Camp Pendleton, Calif., they were hauled out of the ground and replaced with American versions. In recent weeks, other Canadian manufacturers doing business with U.S. state and local governments say they have been besieged with requests to sign affidavits pledging that they will only supply materials made in the USA.
    "You need to tell me how inhibiting business between two companies located one mile apart is going to save American jobs," said Bob Miller, Duferco Farrell's executive vice president. "I've got 600 United Steel Workers out there who are going to lose their jobs because of this. And you tell me this is good for America?"
    Dear Leader's "stimulus" bill and it's "Buy American" provisions are proving to be economic poison--American economic poison made in America for the American economy.

    Protectionism didn't work in 1930, and it's not likely to work now. As one steel mill is already finding out, this neither creates nor saves jobs, but destroys them.

    Job destruction: what Dear Leader hath wrought.

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    Re: Trade Wars Brewing In Economic Malaise

    Canada will lay down like a dog and take it, like always. We rely on the U.S. way more than it relies on U.S. You know it, we know it.

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    Re: Trade Wars Brewing In Economic Malaise

    Quote Originally Posted by Orius View Post
    Canada will lay down like a dog and take it, like always. We rely on the U.S. way more than it relies on U.S. You know it, we know it.
    Perversely, that may not make much difference. These insane "buy American" provisions are just a reinvented game of beggar-thy-neighbor, which, like all such economic stratagems, boomerang on the countries that play the game. Everyone ends up more or less equally unemployed, equally broke, and equally screwed.

    As the steel mill example in the linked article shows, companies with a foreign supply chain can get shut out of projects they otherwise would have, thus losing revenue and shedding jobs. Canadian (or any other nation's) passive acceptance or active opposition doesn't alter that.

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    Re: Trade Wars Brewing In Economic Malaise

    Quote Originally Posted by celticlord View Post
    Trade Wars Brewing In Economic Malaise

    Dear Leader's "stimulus" bill and it's "Buy American" provisions are proving to be economic poison--American economic poison made in America for the American economy.

    Protectionism didn't work in 1930, and it's not likely to work now. As one steel mill is already finding out, this neither creates nor saves jobs, but destroys them.

    Job destruction: what Dear Leader hath wrought.
    You HAD to use the word "malaise", didn't you? You a Jimmy Carter supporter?
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Trade Wars Brewing In Economic Malaise

    Quote Originally Posted by danarhea View Post
    You HAD to use the word "malaise", didn't you? You a Jimmy Carter supporter?
    ExCUSE me?

    That was the headline. Blame the peanut heads at the Washington Post, not me.

    (although there's no getting around admitting that was the word that caught my eye! )

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