----WHERE DID YOUR JOB GO----

[Pine Mt Beagles]

NOT BLAMING BUSH THIS TIME--ALL OF OUR POLITICIAN'S HAD A HAND IN THIS

It's bad. According to the report, between 2001 and 2008, 2.4 million jobs were lost or displaced with losses occurring in every Congressional district. (Note - This report does not track service industry job losses, and does not track indirect job losses.)

Here's the surprise: since 2001 we have lost more tech jobs than manufacturing jobs! -- We lost 628,000 tech jobs -26 percent of all jobs displaced by trade- between 2001 and 2008.

The main unfair advantages China uses to its advantage are:

1) Currency manipulation. China "pegs" its currency at a very low, or "weak" rate, so goods from China cost up to 40% less than they otherwise should.
2) Labor-rights suppression has lowered manufacturing wages of Chinese workers by 47% to 86%.
3) There is massive direct government subsidization of export production in many key industries.
4) China allows environmental degradation that ends up affecting all of us.
5) Intellectual property theft and piracy mean that American products that could be sold are stolen instead.
6) China has a number of policies that block U.S. firms from market access.

I joined a press conference call announcing this report, with Senators Charles Shumer (D-NY) and Lindsey Graham (R-SC).

Senators Schumer and Graham are introducing legislation in which "the wiggle room will be gone" and the Treasury Department must cite the Chinese for currency manipulation if currency is misaligned without having to say there is "intent," and impose additional penalties. Schumer:


"In the past Dem and Rep admins turned a blind eye to this problem. We are tired of the Chinese not playing by the rules that everyone else has to play by.

Later on the call Senator Schumer said,


Imagine if you had two stores across the street and one had a 40% price advantage - could charge 40% less than the other, where do you think people would shop?

[. . .] Every day we wait is a day we lose wealth, we lose economic advantage, we lose jobs.


Sen. Graham,


It is hard for American political leaders to keep their head in the sand any longer. ... To ignore China''s currency manipulation is to ignore economic reality and the way economics works. ... I am hopeful they [the Treasury Dept.] will go ahead and speak truth to power and the truth is that China's currency is misaligned.


Previous administrations allowed all of this to continue with impunity. It is time to do something about it and bring the world's trade back toward some kind of balance.

[bluemouse]

pinenut this is old news that shows congress on both sides have sold the american people out. Here is a news flash for ya, a indepenant watchdog for finances of stimulus bailout reported that obumer and his cronies shut down thousands of car dealerships across the nation for no reason what so ever during their take over of the auto industry. Putting tens of thousands out of work. Its a 45 page report you can look up and cut and paste showing the great job your hero is doing. Then you can explain how raising taxes is going to bring more jobs to America. If you would stop walking backwards you might see whats ahead. Every soul on here knows that no past prez was perfect, and some better than others. But obumer beats them all throwing the american people under the bus, he is so good at it he backs over them afterwards just to make sure he did not miss going forward.

[Tim H]

This is a classic liberal post. You have to admit that Obama is destroying the economy so instead of just blaming him (as you did Bush), you say everyone has done it. How can this be when they are the "do nothing" republicans? They haven't done anything so how can they be blamed? Leave it to a raging lunatic lefty to go to this old standby tactic.

[Pine Mt Beagles]

----WHERE DID YOUR JOB GO----
by Pine Mt Beagles on Wed Jul 28, 2010 6:47 am

NOT BLAMING BUSH THIS TIME--ALL OF OUR POLITICIAN'S HAD A HAND IN THIS.
-
-HIPPOCRIT'S
YOU GUY'S HAVE THE COMPREHENSIVE SKILL'S OF A THREE MONTH OLD HOUND PUP.
DIDN'T EVEN READ THE POST JUST WENT STRAIGHT TO DEFENCE MODE.