[George_1950]

"Whether the issue was the recent bailout for the American auto industry or provisions favoring U.S. steel producers in the stimulus package now being debated on Capitol Hill, overseas observers warned that any move toward protectionism would have serious consequences for Washington and the rest of the world.

"We must not allow market forces to be completely distorted," Angela Merkel, the German chancellor, warned in a speech on Wednesday. "For instance, I am very wary of seeing subsidies injected into the U.S. auto industry. That could lead to distortion and protectionism."

By the weekend, as word of the "Buy American" proposal spread through Davos, the tone had become sharper.

"It's extremely preoccupying that one of the first acts of the new Obama administration could be a measure that is clearly protectionist and a distortion of competition," said Anne-Marie Idrac, the French trade minister.

She said it was a "very bad sign that goes against" earlier statements opposing protectionism by the leaders of the world's 20 largest economies.
In time of crisis, looking to U.S. with wariness and hope - International Herald Tribune

Protectionism "...makes economic sense for a country only if other countries do not retaliate by imposing protective tariffs themselves. In the 1930s, one of the fundamental causes of the Great Depression was the existence of high protective tariffs in every country, which drastically reduced world trade." protectionism – Dictionary Definition of protectionism | Encyclopedia.com: FREE Online Dictionary

[tomder55]

I love the BS . They make it sound like the only protectionist sentiment is coming from the US. But there is no question the Obots are touting it.
The “buy American” provisions in the bucket list legislation would require major public works projects to favor U.S. steel, iron and manufacturing over imports. But of course our trade partners won't do a tit for tat retaliation ! But I guess they could care less if companies like Caterpillar won't have a foreign market for their products.

Essentially protectionism is very dangerous and there is really no dispute that it led to WWII .

[tomder55]

Turns out our largest trading partner ,Canada, is not a happy camper over the jingoistic "buy American" provisions in the bucket list related to imported steel .

The US exports more steel to Canada than we import from them and US Steel has operations on both sides of the border.

President Obama has scheduled his first foreign trip to Canada but that trip may be postponed by the Canadians in protest to the protectionist provisions .

Gordon Brown in England has been complaining at Davos about US financial protectionism that violate WTO . TARP is itself a protectionist act and so is the Big 3 Auto makers bailout.

Yeah that's the ticket... stick it to our allies !

[excon]

Will Obama and the Democrats lead the U.S. into WWIII?

Hello George:

Couple things... IF there is a WWIII, and it's cause is the worldwide depression, the guy who CAUSED IT (which would be the dufus in chief), will be blamed. They're not going to blame the guy who's fixing it...

Plus, if you're talking about a SHOOTING war, the guy who pre-emptivly invaded countries who are NO THREAT him, will be blamed. That guy, surprisingly, is the ex dufus in chief.

excon

[George_1950]

"European and Canadian ambassadors to Washington have already warned that the clause could provoke protectionism and trigger retaliatory moves.

"EU Ambassador to Washington John Bruton said that, if passed, the measure could erode global leadership on free trade.

"'We regard this legislation as setting a very dangerous precedent at a time when the world is facing a global economic crisis,' he said."
BBC NEWS | Business | EU attacks 'Buy American' clause

[tomder55]

Let it be known that the 'buy American clause' on the pork stimuli is provisions put into the bill without debate by the dicates of Madame Mimi . If President Obama wants to rescue his presidency he has to assume control from the rogue Congressional Democrats . He can begin by hauling them into the White House for drinks and wagyu steaks with a side of arugula salad ;read them the riot act and demand that the garbage bucket list provisions get removed from the bill.

[George_1950]

Plus, if you're talking about a SHOOTING war, the guy who pre-emptivly invaded countries who are NO THREAT him, will be blamed. That guy, surprisingly, is the ex dufus in chief.

excon

About Face! "Gordon Brown was caught in the crossfire as John Bruton, the EU Ambassador to Washington, said that “history has shown us” where the closing of markets leads — a clear reference to the Depression of the 1930s, triggered by US protectionist laws." President Obama to water down 'Buy American' plan after EU trade war threat - Times Online

Of course, Obama will continue to carry water for the unions on this issue. But, enough chatter about who is the real doofus-in-chief.

[tomder55]

Bambi backs down :

The European Union warned the US yesterday against plunging the world into depression by adopting a planned “Buy American” policy, intensifying fears of a trade war.
The EU threatened to retaliate if the US Congress went ahead with sweeping measures in its $800 billion (£554 billion) stimulus plan to restrict spending to American goods and services...


Last night Mr Obama gave a strong signal that he would remove the most provocative passages from the Bill.
“I agree that we can't send a protectionist message,” he said in an interview with Fox TV. “I want to see what kind of language we can work on this issue. I think it would be a mistake, though, at a time when worldwide trade is declining, for us to start sending a message that somehow we're just looking after ourselves and not concerned with world trade.”

A bit of history...
June 17, 1930 Smoot Hawley became law .The German and British iron works immediately cut their prices and wages, and the Germans cut their export prices across the board 10%. September German elections the Nazis increased their seats in the Reichstag to 107 seats ;second only to the Social Democrats . American exports and imports plunged by more than half helping turn an economic recession into a depression ;and many economic historians consider the discussions in Congress leading up to the passing of the act a factor in causing the crash and recession of 1929.

[speechlesstx]

I don't know about Obama starting WWIII but it's definitely worse than I thought. According to Pelosi, "Every month that we do not have an economic recovery package 500 million Americans lose their jobs."

I guess we'll all have to lose our jobs several times every month.

[George_1950]

We only have to recall that Democrats are so much smarter than the rest.

Don't know about Obama 'starting' WWIII, but the question posed is of a different nature.

Just curious: did Bush 41 start the war in Kuwait? Did Bush 43 start the war in Iraq? Did FDR start WWII? There can be little doubt that the presidents led the U.S. into the respective wars.

So, is Obama enhancing world peace by sponsoring and nurturing worldwide trade wars? My view is that the U.S. is not likely to go to war with its trading partners and other countries for which the U.S. has healthy diplomatic relations. Is it wise to sacrifice the EU and eastern European countries while making nice with Iran and Saudi Arabia?

[tomder55]

Change means we make friends of enemies and enemies of friends

FT.com / India / Politics & Society - India warns Obama over Kashmir

Kyrgyzstan moves to close U.S. base that services troops in Afghanistan - On Deadline - USATODAY.com


Obama has begun discreet talks with Iran, Syria - Yahoo! News

[George_1950]

Got to love British transparency:
"Mr Cameron had asked: 'Do you share my concern at the decision by the US House of Representatives to pass 'buy American' legislation and agree that a retreat into protectionism is the last thing the world needs. Yesterday your spokesman refused to confirm that he would specifically condemn these moves. Will you make clear your position today?'

"Mr Brown said he had made clear over the last few months that 'the biggest danger the world faces is a retreat into protectionism'."
Gordon Brown suggests world heading for a 'depression' - Times Online

[excon]

Hello:

I'm old, and I have a short memory... But, I remember that not long ago, the idea to Buy American was a right wing idea. Something about not wanting your money to go to China...

But, NOW that Obama adopts it, it ain't no good... You guys. I gotcha figured out.

excon

[tomder55]

You will look hard before you can dig up any posting I made in support of economic isolationism .

[speechlesstx]

You keep striking out on us lately, ex. I don't think you'll find anything from me along those lines either.

[excon]

Hello again:

NOT you guys. You're the GOOD right wingers.. I'm talking about all those BAD right wingers who supported Buy American when it was a right wing idea.

excon

[speechlesstx]

Oh, I see. Glad I'm a good right-winger. But if "80% of Americans think it their patriotic duty to give preference to American-made products," wouldn't that mean it's likely that a majority of Democrats also think it's a good idea?

[Tonty2275]

Hello George:

Couple things.... IF there is a WWIII, and it's cause is the worldwide depression, the guy who CAUSED IT (which would be the dufus in chief), will be blamed. They're not going to blame the guy who's fixing it....

Plus, if you're talking about a SHOOTING war, the guy who pre-emptivly invaded countries who are NO THREAT him, will be blamed. That guy, surprisingly, is the ex dufus in chief.

excon

I Agree, wholeheartedly--P>S> I was wondering just how to spell "dufus", LOL :)

[tomder55]

Maybe I'm wrong ;but the last time I can recall Conservatives being economic isolationists was 1929.

[excon]

Hello again, tom:

Well, when I was looking for the same stuff, I came across this on Google's front page:

Buy from American owned Companys

Now, if THAT guy ain't a right winger, I don't know who is.

excon