Since 1982, the United States has run $5.7 trillion in trade deficits in manufactured goods, and $2.1 trillion in trade deficits in auto parts, trucks and automobiles. In the Bush years alone, the United States ran more than $1 trillion in trade deficits in auto parts, trucks and cars.
These statistics, these realities — factories closing in the United States, manufacturing jobs being outsourced in the millions to China and Asia, enormous, endless trade deficits in goods — testify to a painful truth: America is a receding and declining world power.
And in dealing with this systemic crisis, Obama’s stimulus package is as irrelevant as were the Bush tax cuts.
How do we correct those “trade-related imbalances” of which Volcker spoke? We must export more and import less, save more and spend less, produce more and consume less. We need to emulate the ants and behave less like the grasshoppers of summer.
But how do you tell that to two generations of Americans who have been raised in an era of entitlement?
America needs an Industrial Policy.
But how do you tell that to Americans indoctrinated in the hoary myth that Reed Smoot and Willis Hawley caused the Great Depression and anything that sounds like America First risks a rerun of the 1930s?
Category: Quote of the Day
Quote of the Day
What we are really seeing is that the generals increasingly have their own agenda and it ain’t bringing the troops home. They provide good access and notable comments to a lot of enablers in the media like Ricks who like a robust story full of blood and guts and want to make sure the good old global war on terror goes on and on. It might be simplistic to ask “If Usama bin Laden is the enemy and he is located in Pakistan why have we been fighting wars for seven years in Iraq and Afghanistan?” Sometimes the simple questions are the only ones worth asking.
Quote of the Day
God seeks righteous agreement but His chosen people live in anarchy of their own making.
Quotes of the Day
Those who prattle about the perils of protectionism need to be
asked: What has free trade produced, but a bankrupt America that
must go hat-in-hand to Beijing to borrow the money to rebuild our
crumbling infrastructure? Are we also to use Chinese iron, steel
and cement because they, with their Third World wages, will work
for less than our fellow Americans?As for Europe’s threat of a trade war, bring it on!
We would eat their lunch. As analyst Charles McMillion writes, in
eight years of Bush, Canada ran up $500 billion in trade surpluses
at our expense, Japan ran up $600 billion, the European Union $800
billion.These three trading partners, often by imposing value-added taxes
on U.S. imports, and rebating those taxes on goods sold here,
racked up $1.9 trillion in trade surpluses, sucking jobs, factories
and technology out of the United States. These trade deficits, and
the even larger ones with China, says Paul Volcker, are behind our
present crisis.America is bust. It is shameful to have to go to China and Japan to
borrow the money to rebuild America. But to go to China and Japan
and borrow billions, and not spend the money here, makes zero sense.We have indulged in free trade for a quarter century. And look
where it has gotten us.
Until the American people demand that their elected members of Congress live up to their duties and responsibilities under the Constitution, they will continue to have their pockets picked clean by these corrupt banksters in New York City (and London) and their contemptible facilitators in Washington, D.C.
Quote of the Day
This week President Obama claimed that failure to pass his economic stimulus bill will have catastrophic consequences for the U.S economy. The reality is the catastrophe will be far greater with his plan then without it. If the trends of January and early February of 2009 continue, the rug will be completely pulled out from beneath the U.S. economy, and the full cost of the President’s “economic depressant package” will be apparent to all.
If foreign capital does not continue to pour into Treasuries, interest rates and consumer prices in the U.S. will soar. At that point, we will finally be confronted with the real crises that I have long predicted. When the day of reckoning arrives our policy response will be critical. If we continue on the course our new President has mapped out, the catastrophe will far exceed the scope of any he hoped to avoid.
Quotes of the Day
Let it be said. There is nothing wrong about Americans fighting to preserve the culture and country they grew up in. That is what patriotic conservatism is all about. And if the Times can understand and support the right of native tribes like the Navajo and Apache to preserve their unique character and culture, why this viral hatred of those of us who wish to preserve the Western and Christian character of America?
So, I repeat the question, Do Americans really cherish freedom anymore? And, if we do, what are we going to do about it? I believe that there are specific and constructive steps that can be taken to restore liberty in this land. (I will develop these thoughts later.) I further believe that there are still millions of Americans who really do understand and cherish freedom. We may be in a minority, but remember, we were also a minority in 1776. Freedom is laborious, onerous work. And not everyone enjoys hard work.So be it. Let lazy, indolent fools wallow in their servitude. God will yet see to it that there is a land of liberty for those who truly desire it and are willing to fight for it. I firmly believe that.
Remember, liberty is a precious gift from our Creator. For those who fear God, respect Natural Law, and love liberty, there is yet a “promised land.”
We may have to do a little searching; we may have to rethink our priorities; we may have to adjust our lifestyles; and yes, we may have to “pledge our lives, fortunes, and sacred honor” in order to obtain it; but our forebears thought it was worth it–and so do I.
As Friedrich Schiller wrote in William Tell:
“By this fair light which greeteth us, before
Those other nations, that, beneath us far,
In noisome cities pent, draw painful breath,
Swear we the oath of our confederacy!
A band of brothers true we swear to be,
Never to part in danger or in death!“We swear we will be free as were our sires,
And sooner die than live in slavery!“We swear, to put our trust in God Most High,
And not to quail before the might of man!”Such people can never be enslaved. And I believe that such people still exist in these United States of America. I count them my brothers. I offer them my arm and my heart. After all, we are freedom-loving Americans.
Will we see the nationalization and control of our main banks as Europe has done and is doing? I say, yes.
Will we start to hear “socialist” speeches about us all cutting back, thus giving more taxes to the Government to solve endless emergencies? Salaries might need to be cut everywhere and business achievement and profit swiped bit by bit, of course for the betterment of a troubled society. Watch it unfold.
Yes, there should be significant salary limitations and spending requirements if a troubled company receives national financial aid, but a way to independent achievement and reward, not prolonged Government control, taxation, litigation and regulation!!!
Ronald Reagan said it best many years ago and was right! “Big Government is not the solution. It is the problem.”
Quote of the Week!
This quote qualifies for the quote of the year, not to mention, the Quote of the week or day.
The typical liberal reaction to this was (paraphrasing): “It’s such a relief to ‘finally’ have a president who will own up to his mistakes!”
Really? That’s setting the bar really low. This was an easy mistake for him to own up to. The hard one apparently is for him to admit he was wrong about the surge. Let’s not forget that last summer he said he would still have voted against the surge even had he known at the time how successful it would end up being in terms of the downturn in violence that led to other positive things happening in Iraq.
People like to talk about how Bush’s mistakes “cost lives” in Iraq but Obama’s failure to admit he was wrong about the surge just shows the same foolish bullheadedness others criticized Bush for years about re: Iraq after things started heading south. Had then-Senator Obama had his way about the surge, that would have “cost lives” as well: We would certainly have seen the violence continue to get worse, resulting in more American soldier and coalition casualties, not to mention skyrocketing civilian deaths – possibly even resulting in genocide long-term, thanks to his desire to “cut our losses and get out.”
When he owns up to admitting his poor (not to mention dangerous and irresponsible) judgment in continuing to oppose the surge even after he knew what the results of it were, I’ll be impressed. Until then, this is just small potatoes. – (Source)
Man, is she right, Wow! Amen!
Quotes of the Day
This is precisely the problem. As credible experts, including some Democrats, have pointed out, much of this “long-term” spending either won’t stimulate the economy now, is of questionable merit, or both.
Obama’s desire to begin a “post-partisan” era may have backfired. In his eagerness to accommodate Republicans and listen to their ideas over the past week, he has allowed the GOP to turn the haggling over the stimulus package into a decidedly stale, Republican-style debate over pork, waste and overspending.
Quotes of the Day
Tell me again that “there is nothing we can do about it,” or “it’s God’s
will,” or “Jesus is coming soon.” Better yet, tell it again to the suffering
Christians around the world; tell it again to our Christian forebears; tell
it again to your children and grandchildren who are going to inherit a land
of tyranny and oppression, all because you were too lazy to resist.I know unbelievers who have more character and determination about
preserving liberty than many who call themselves Christians. And I have a
ton more respect for them, too. Our Lord told us, “For unto whomsoever much
is given, of him shall be much required” (Luke 12:48). Yes, Christians in
America have been given the best of both worlds, and many do not even
appreciate it enough to see to it that their own children–their own flesh
and blood–will live to enjoy the same blessings. They are pathetic!So, the next time you hear some piety-draped Christian talking about how he
won’t engage the enemy and fight for liberty, because of prophecy, or some
other spiritually-sounding platitude, just remember, it has nothing to do
with prophecy, or anything of the sort: it has everything to do with
old-fashioned laziness. My feeling toward him is the same as that of Sam
Adams (a fellow Christian) toward the Tories of old: “If ye love wealth
better than liberty, the tranquility of servitude than the animating contest
for freedom–go home from us in peace. We ask not your counsels or arms.
Crouch down and lick the hands which feed you. May your chains sit lightly
upon you, and may posterity forget that ye were our countrymen!” Amen!
and….
Has Obama no more imaginative ideas for government’s role in
reshaping the economy for the 21st century than this? Was it all
talk all along, to prepare the way for a return to the days of
spend and spend?Sad, because this is likely to be Obama’s last shot at getting this
economy on its feet and running by 2010. For Americans are not as
patient as they were in the 1930s, when FDR could try one idea,
then another, then another for five years, and continue to roll up
massive electoral victories.If Obama gets this one wrong, and all this pork and welfare fail to
generate real growth, his party could face a wipeout in 2010, and
his opportunity could be lost forever. Does he really want to bet
the farm on the nag Nancy Pelosi just trotted out of the House?