Poll shows Americans oppose entitlement cuts to deal with debt problem

[Mr. Big Dog 10,747]

I missed that. Did he cry?

They didn't report it but I don't see how he couldn't have cried looking at the achievements of American greatness in the Iraqi desert. You know he cried.

[^_^ 5,021]

Why can't we fight them like a real superpower, with tariffs?

Chinese imports have decimated the parts of American industry that used to build the products we now import from China. Slap a tariff on Chinese goods and that tariff gets passed on to the American consumer who will have nowhere else to go for some period of time (until American plants get to work again). Do you really think what amounts to a medium-term additional sales tax on lower-income consumers is what this economy needs right now?

[mawilson 2,133]

Slap a tariff on Chinese goods and that tariff gets passed on to the American consumer

It's not clear. You can only pass on so much to the American consumer - the rest will get passed on to the Chinese producer.

[Mr. Big Dog 10,747]

Why can't we fight them like a real superpower, with tariffs?

Because they can fight back in kind. We all talk about Imports from China but don't spend much time considering that China also is the #3 market for US exports. Recently, sales are up 31% year over year. GM sells more cars in China than in the US, for example. The Chinese would rather drive a Benz, BMW, Audi or VW as it is. Give them an incentive and that's what they'll do. And GM will be right back on the brink of collapse.

[^_^ 5,021]

It's not clear. You can only pass on so much to the American consumer - the rest will get passed on to the Chinese producer.

Cheap Chinese imports have been a critical part of the Fed's "keep inflation low" strategy.

[^_^ 5,021]

Because they can fight back in kind. We all talk about Imports from China but don't spend much time considering that China also is the #3 market for US exports. Recently, sales are up 31% year over year. GM sells more cars in China than in the US, for example. The Chinese would rather drive a Benz, BMW, Audi or VW as it is. Give them an incentive and that's what they'll do. And GM will be right back on the brink of collapse.

In a trade war though, they have more to lose than we do. Much more.

Unfortunately, in the US the primary "victim" of a trade war would be lower-income consumers who are the primary market for Chinese low-cost products.

[mawilson 2,133]

Because they can fight back in kind. We all talk about Imports from China but don't spend much time considering that China also is the #3 market for US exports. Recently, sales are up 31% year over year. GM sells more cars in China than in the US, for example. The Chinese would rather drive a Benz, BMW, Audi or VW as it is. Give them an incentive and that's what they'll do. And GM will be right back on the brink of collapse.

First, BMW and Benz cost a lot more than a Chevy. Second, vehicles account

for only 4.5 percent of our exports to China. The kind of stuff they import

from the US (heavy machinery, power generation equipment, spacecraft, aircraft,

medical equipment) they can't get anywhere else.

[^_^ 5,021]

The Russians? The Europeans?

[mawilson 2,133]

The Russians? The Europeans?

Russian planes to replace Boeing? Airbus, perhaps.

[james&olya 1,121]

a giant elephant #######

Agreed!

[Mr. Big Dog 10,747]

First, BMW and Benz cost a lot more than a Chevy. Second, vehicles account for only 4.5 percent of our exports to China. The kind of stuff they import from the US (heavy machinery, power generation equipment, spacecraft, aircraft, medical equipment) they can't get anywhere else.

Don't underestimate ole Europe.

[mawilson 2,133]

Don't underestimate ole Europe.

As soon as we slap a tariff on Chinese badds, Europe will do the same.

Edited April 20, 2011 by mawilson