Category Archives: Trade

There Is More Cronyism Than Capitalism In Corporate America (Boeing? Oink, Oink)

America, Business, Capitalism, Economy, Free Markets, Globalism, Labor, Trade

In “Why Tax Breaks Won’t Stop High-Tech, H-1B Human Trafficking,” I explained how, “The H-1B visa racket,” like so much of the rent-seeking global, corporate America does, “is … a taxpayer-subsidized, grant of government privilege. Duly, profits remain private property. The costs of accommodating an annual human influx are socialized, borne by the bewildered [American] community.”

the corporations that hog H-1Bs act like incorrigibly corrupt rent seekers. Not only do they get to replace the American worker, but they get to do so at his expense.

Here’s how:

Globally, a series of sordid liaisons ensures that American workers are left high and dry. Through the programs of the International Trade Administration, the Export-Import Bank, the Overseas Private Investment Corporation, the International Monetary Fund, and other oink-operations, the taxpaying American worker is forced to subsidize and underwrite the investment risks of the very corporations that have given him the boot.

Domestically, the fascistic partnership with the State amounts to a subsidy to business at the expense of the taxpayer. See, corporations in our democratic welfare state externalize their employment costs onto the taxpayers.

MORE in “Why Tax Breaks Won’t Stop High-Tech, H-1B Human Trafficking.

Now, via Washington Examiner’sWhen foreign airlines go under, US taxpayers could be stuck with the bill” comes quite a positive description of the sordid liaisons and transactions on the backs of American taxpayers:

Subsidizing Boeing jets has generally been the Ex-Im Bank’s main activity. Typically, about 40% of all its financing supports Boeing exports. That’s why the agency has earned the nickname “Boeing’s Bank.”
As a result, airlines in China, Turkey, Bangladesh, Canada, Mexico, and all over the world have benefited from U.S. taxpayer-backed financing to buy Boeing jets in recent years. Many of them still owe their lenders, meaning the U.S. taxpayer is still exposed via the Ex-Im Bank. There’s a decent chance some of those foreign airlines will default on some debt payments. That could result in the Ex-Im Bank having to make the creditors whole.

There is more cronyism than Capitalism in the operation of the giants of corporate America.

UPDATE:  Just desserts.

Ass With Ears Obama Takes Credit For The Trump Economy

Barack Obama, Business, Economy, Labor, Trade

Barack Obama is taking credit for the Trump economy when he had first dissed the idea of Donald Trump’s pro-American worker economic policy.

Via the New York Post:

“‘President Trump would need a magic wand to get to 4% GDP,’ stated President Obama.

But Trump’s mention of Obama’s comments about a “magic wand” appear to reference a June 2016 town hall event in Indiana when the former president was asked about Trump’s promise to kick-start manufacturing jobs in the country.

“Well, how exactly are you going to do that? What exactly are you going to do? There’s no answer to it,” Obama said.

“He just says, ‘Well, I’m going to negotiate a better deal.’ Well, what, how exactly are you going to negotiate that? What magic wand do you have? And usually the answer is, he doesn’t have an answer,” Obama continued. …

‘The Kochtopus’ (Koch Brothers) Want Outsourcing & Globalism Back

Donald Trump, Labor, Outsourcing, THE ELITES, Trade

Bless the farmers. A pox on the Koch Brothers, known by good libertarians as that invasive organism called “The Kochtopus.”

The Koch Brothers, or the “The Kochtopus,” worship the Gods of Globalism, says Laura Ingraham, and the American Worker be damned. He is just a stick-in-the mud. He hasn’t embraced progress. Therefore, he should be left behind.

The brothers’ bailiwick is outsourcing jobs and relocating overseas, as Laura Ingraham points out. Of their employees, 120,000 are employed abroad; only 65,000 in the US.

And they object to President Trump’s attempts to optimize outcomes for the American Worker by driving a hard bargain on behalf of his American constituents in the context of “state-managed trade.”

While the elitist Kochtopus, an enemy of Trump from the inception, is committing to fighting Trump’s efforts to neutralized the adverse effects of  centralized, managed trade on American workers—the latter are supportive of the president.

“They like that he’s fighting for them.” “I’m willing to take my lumps for the good of the country. The Scottish in me says to the death.” So say Trump supporters about the tariffs.

“The Kochs can learn a lot from these deeply patriotic Americans,” inveighs Ingraham. And she’s right.

RELATED: “Trade Deficits In The Context Of State-Managed Trade And Systemic Debt.”

See also: “Dissecting the Kochtopus.”

The Power Trump Has To Wield Against The World Order And For America

America, China, Donald Trump, Economy, Europe, Trade

Does Size Matter?
Even if they club together, for example, it is hard for other countries to match China’s clout in Asia. And there is no real substitute for America’s overall influence and power. The country spends more on defence than the next seven countries combined, produces 23% of global GDP (measured at market exchange rates) and has the world’s dominant currency. Still [some are hoping] that a joint effort can make a difference while Mr Trump is president. “A group of midsized and wealthy democracies could join forces and protect the rules-based world order.”

See “Saving The World Order: Picking Up The Pieces,” The Economist, August 4.