Sure, many Asian cars are now built in the United States, but the benefits they bring to the U.S. economy don’t come close to what our own auto industry provides.
Sounds simple enough. But in a world where a Ford Fusion is built in Mexico, and a Toyota Camry is manufactured at a plant in Kentucky, the lines get blurred.
As American car companies are spreading more of their work overseas, Asian and European automakers are bringing more of their work here. So where is your money really going when you buy a car?
September’s un- employment figures were not only disappointing — they were grim. For the 21st straight month, Americans lost jobs. Fifteen million are out of work — 5 million for more than six months.
But as the Washington Times asserts, “America’s jobless crisis is much worse than the 9.8 percent unemployment rate.”
Los Angeles, 2009: California may be the eighth largest economy in the world, but its state staff are being paid in IOUs, unemployment is at its highest in 70 years, and teachers are on hunger strike. So what has gone so catastrophically wrong?
California has a special place in the American psyche. It is the Golden State: a playground of the rich and famous with perfect weather. It symbolises a lifestyle of sunshine, swimming pools and the Hollywood dream factory.
There is no “jobless recovery,” only senseless cheerleading…
For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.
Since the spring of this year, the value of the U.S. dollar has collapsed against every currency except those pegged to it. The Swiss franc has risen 14 percent against the dollar. Every hard currency from the Canadian dollar to the Euro and British pound has risen at least 13 percent against the U.S. dollar since April 2009. The Japanese yen is not far behind, and the Brazilian real has risen 25 percent against the almighty U.S. dollar. Even the Russian ruble has risen 13 percent against the U.S. dollar. What sort of recovery is it when the safest investment is to bet against the U.S. dollar?
The United States will urge world leaders this week to launch a new push in November to rebalance the world economy, but there are doubts national governments will bow to external advice.
A document outlining the U.S. position ahead of the September 24-25 Group of 20 summit in Pittsburgh said exporters, which include China, Germany and Japan, should consume more, while debtors like the United States ought to boost savings.
“The world will face anemic growth if adjustments in one part of the global economy are not matched by offsetting adjustments in other parts,” said the document, which was obtained by Reuters on Monday.
Gerald Celente – the most trusted name in trends – sits down for an exclusive interview with Russia Today’s Anastasia Churkina to talk about what the future holds for America during and after the Great Recession, gives advice to Obama, and forecasts the unexpected.
Down at the Chinese outlet store in Albany known as Wal-Mart, Chinese tires have so successfully undercut U.S.-made tires that the Cooper Tire factory in that south Georgia town had to shut down.
Twenty-one hundred Georgians lost their jobs.
The tale of Cooper Tire and what it portends is told in last week’s Washington Post by Peter Whoriskey. [As Cheaper Chinese Tires Roll In, Obama Faces an Early Trade Test, September 8, 2009]
How could tires made on the other side of the world, then shipped to Albany, be sold for less than tires made in Albany?
To hear the Obamaites, those raucous crowds pouring into town hall meetings are “mobs” of “thugs” whose rage has been “manufactured” by K Street lobbyists and right-wing Republican operatives.
Press secretary Robert Gibbs compares them to the Young Republicans of the “Brooks Brothers riot” during the Florida recount.
But is it wise for the White House to denigrate and insult scores of thousands with the fire and energy to come to town meetings in August, and who appear to represent millions? Is this depiction fair or accurate?
Ralph Nader recently accepted Pat Buchanan’s invitation to sit down with us and explain why his third-party presidential bid ought to appeal to conservatives disaffected with George W. Bush. We think readers will be interested in the reflections of a man who has been a major figure in American public life for 40 years—and who now finds himself that rarest of birds, a conviction politician.
Pat Buchanan: Let me start off with foreign policy—Iraq and the Middle East. You have seen the polls indicating widespread contempt for the United States abroad. Why do they hate us?
By the choices we make we define ourselves. We reveal our biases and beliefs. And so, too, do our institutions.
In writing the $789 billion stimulus bill, Congress revealed that, for all its “Buy American” blather, it does not truly put America first. It does not believe that 10 million jobless Americans, in the country their fathers built, should receive any preference in hiring 12 million to 20 million illegal aliens who broke into this country and owe her no loyalty, allegiance or love.
Is this a slur on the patriotism of some of our congressmen? You betcha.
Lecturing a conscript conclave of Justice Department bureaucrats, Attorney General Eric Holder last week called America a “nation of cowards” for not spending more time talking about race.
Reading his speech, however, one recalls the sage counsel of Pat Moynihan to President Nixon in 1970: This whole subject might benefit from a long period of “benign neglect.”
One point Holder did allude to, without specifics, was this:
“It is not safe for this nation to assume that the unaddressed social problems in the poorest parts of the country can be isolated and will not ultimately affect the larger society.”
“Bush Boom Continues” trilled the headline over the Lawrence Kudlow column, as George W. Bush closed out his seventh year in office.
“You can call it Goldilocks 2.0,” purred Kudlow.
Yes, you could. But what a difference 12 months can make.
Final returns are now in on the eight years of George Bush. Charles McMillion of MBG Information Services has crunched the numbers. And, pace Kudlow, the only relevant comparison is to Herbert Hoover.
“British jobs for British workers!” thundered Gordon Brown, as he emerged from the shadow of Tony Blair to become prime minister.
His populist sloganeering has now come back to bite him.
Across Britain, thousands laid down tools in wildcat strikes in solidarity with a walkout from a French-owned oil refinery in North Killinghome — to protest a $300 million contract to an Italian company that plans to bring in 400 Italian and Portuguese workers to fulfill it.
As Brown pleaded from the World Economic Forum in Davos, Switzerland, that Britain must not retreat into “protectionism,” strikes spread to Scotland, Wales and Ulster.
On November 6, just days after the election, Republican Strategist Pat Buchanan and Democratic Advisor Terry McAuliffe went head-to-head on how President-Elect Barack Obama’s administration could affect manufacturing and the economy-at-large in an exclusive debate aboard the Siemens exiderdome.
Sure, many Asian cars are now built in the United States, but the benefits they bring to the U.S. economy don’t come close to what our own auto industry provides.
September’s un- employment figures were not only disappointing — they were grim. For the 21st straight month, Americans lost jobs. Fifteen million are out of work — 5 million for more than six months.
Since the spring of this year, the value of the U.S. dollar has collapsed against every currency except those pegged to it. The Swiss franc has risen 14 percent against the dollar. Every hard currency from the Canadian dollar to the Euro and British pound has risen at least 13 percent against the U.S. dollar since April 2009. The Japanese yen is not far behind, and the Brazilian real has risen 25 percent against the almighty U.S. dollar. Even the Russian ruble has risen 13 percent against the U.S. dollar. What sort of recovery is it when the safest investment is to bet against the U.S. dollar?
The United States will urge world leaders this week to launch a new push in November to rebalance the world economy, but there are doubts national governments will bow to external advice.
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