Poking China in the eye over currency manipulation? Smoot-Hawley like protectionist rhetoric for US industry?
I guess.
Dude I know you're a trained lawyer and the whole P&L, global business, supply-demand thing isn't really your bag. That's cool. I still confuse post hoc with prima facie, so we're even.
But I must admit your rhetoric has me on edge. I wrote yesterday on learning from the 1930's. And I think you should take a look. It centered on the failure of modern day markets and consumers to learn from the late 1920's greed and risk that caused the depression. But the spirit of the article - learning from the past - is your main takeaway as the 3rd leg of the capitalist triumvirate...govt.
Your recent rhetoric is straight out of the 'I don't understand commerce' handbook that past pols used in economic downturns. Burn it. Limiting trade and ostracizing other economic powers will only make things worse. Especially since exports will play a signifcant part of our resurgence. You don't have to placate labor with your rhetoric. You're the President now. In the end all they want are jobs and fair pay. It may take time, but on the right terms those jobs will come back online and you will be hailed. Limiting trade is the wrong term and a sure fire way to a quick 2012 exit.
This liberal anti-trade meme plays well in a healthy economy when corporations are flush, and stock prices soaring. But investors (rich people) and businesses (rich people) aren't going to put up with this crap during a once in a century downturn. They're scared too. And when you talk about limiting their options to make money by limiting trade you force them back to the sidelines...with their money! Once there they will simply sit on the sidelines and wait you out. Hear me loud and clear. This is a waiting game you will lose.
You and I and Geithner and Summers and Bernanke and any MBA know we need rich people to ultimately pull us out of this. I don't have $125K to pay myself to consult on a supply chain but Nike does. The unions don't have $40K to pay a worker to build beams but US Steel does. US Steel and Nike make money through trade. Limiting their trade will ultimately limit jobs. The laymen may really think we can indefinitely print money for stimulus year over year but you and I know better. Get your business bona fides up and do it quickly!
