Announced today. It's a big tax.
Smoot Hawley all over again? Any comments from those more familiar with this history from a generational standpoint?
I would suggest measures. Also, if I remember correctly only six percent of GNP later was affected under that initial act but need to confirm
that number again. http://www.huppi.com/kangaroo/GDPreal.htm
Remember tires are synthetic chemical crosslinkers now also, and Harvey Firestones were not. If tires are not flooding the market its paper chemicals or water treatment chemicals or precise pressure points playing the trade system. The nature of most Business supply chain management is not about management since I have written Congress numerous times on this issue and they always defer the aspect that it was never about us anyway. The point that needs to be discerned is this. Americans need to clearly understand
that balances are the Gatekeepers true function. The rest is sematics to leverage ignorances in market play. Corporate does not care about boundry's but cost per unit on labor only. All party's over produced. In Europe they tossed a paper standard out to exclude our tires some years back also, and no one said a word
. The real truth of the matter is the current technology is woefully obsolete anyway and they know that also, so you need to factor in 6 or more Geopolitical zones anyway to touch the current technological overproduction issues. Capitalization to production of newer product can be done, but they will push the market to the zero margin since who owns what Company
is the issues anyway and simply they do not care. They trade positions as we supply the material assembled by who? Of course we see the trends but are we not the ghost in the machine since Company's where we work in the Dynamic Basic Material Sector Intellidex Index Like me. Let us accustom ourselves, then, not to judge things solely by what is seen, but rather by what is not seen. Mises further conveyed the sophism on this point consists in showing the public what it pays to the middlemen for their services and in concealing what would have to be paid to the state. Once again we have the conflict between what strikes the eye and what is evidenced only to the mind, between what is seen and what is not seen. Austrian economists are in general agreement with the proposition that market forces must be traced back to the plans of market participants, particularly the plans of entrepreneurs. Analytical differences arise over whether emphasis is to be placed on the expectations and decisions in which plans originate (an ex ante perspective) or on the experience the testing of plans provides (an ex post perspective). It seems to me that both perspectives are necessary for the analysis of dynamic economic processes, and that neither should be allowed to eclipse the other permanently. * Profit is then seen as the reward not for superior foresight, as Mises viewed it, but for the discovery of a piece of knowledge which others lack.
AMERICAN INSTITUTE for ECONOMIC RESEARCH GREAT HARRINGTON MASSACHUSETTS
1948 : The Economic Cooperation Act of 1948 has already been discussed at length. Although we have emphasized that great economic benefits may be derived from this measure, there will benobasis for predicting them until the conditions precedent to aid are firmly established by the Economic Cooperation Administration.The Taft-Hartley Act apparently was a major step in the furtherance of better employer-employee relation-ships.
That it did not solve the problem of monopoly power invarious unionized industries has become obvious. However, the fact that Congress dealt with the problem as effectively as it did in the year preceding a Presidential election suggests that the next Congress may do even better. At least, virtual control of the National Legislature by the trade unions, as is the situation in England, seems improbable in the foreseeable future. By reducing individual income taxes, Congress restricted substantially the Treasury's power to cope with inflationary developments. However, we believe that the actual curtailment of Government revenue will be less than is generally expected. Although reduction of the Federal debt is most urgently desirable, the burden of taxes was great. Furthermore, under present conditions a large Treasury surplus may encourage expenditures rather than debt retirement. If the only way of forcing economy is to give the Government less money to spend, tax reductions at least have this virtue
Monday, Oct. 07, 1985
In 1932, with international trade in collapse, Franklin Roosevelt denounced Smoot-Hawley as ruinous. Hoover responded that Roosevelt would have Americans compete with "peasant and sweated labor"
abroad. Then, as now, protectionism had a strong if superficial political appeal: by election eve, F.D.R. had backed down, assuring voters that he understood the need for tariffs. Protectionist politicking, however, could not save the Republicans in 1932. Smoot and Hawley joined Hoover in defeat
. The Democrats dismantled the G.O.P.'s legislative handiwork with caution, using reciprocal trade agreements rather than across-the-board tariff reductions. The Smoot-Hawley approach was discredited. Sam Rayburn, House Democratic Speaker from 1940 until 1961, insisted that any party member who wanted to serve on the Ways and Means Committee had to support reciprocity
, not protectionism.http://www.dw-world.de/dw/article/0,214 ... 98,00.htmlhttp://www.nti.org/e_research/profiles/ ... _2962.htmlhttp://news.bbc.co.uk/2/hi/europe/2591351.stm
They could care less about tariff now in China or Russia Higgy. Americans are still painfully clueless about needs to there economic survival anymore
. Ask Pelosi or there mindless and clueless hordes and ilk about not in my back yard semantics bent on emotional blackmail and not fact of law or contract or proper funding. Yes some Company's are ruthless and follow the political chain to its ultimate conclusion of special interest's. Rent dissipation issue's in a mixed market is life or death now and the coruption will envelope more very soon it appears to wasted capital. As we are the Internal socialist's have destoyed more economic security than the free world competion had ever dreamed of which is only brought up to pacify the simple of mind dominating the population.
Mr Obama nailed there ass to a board and each party cannot see the writing on the wall about fiscal sanity or walk out the room given avarice unabated with that board nailed to there ass with mind numbing greed. Currently the Fed still spews debt is wealth, I rest my case on these insular realities of elist rambling. http://seekingalpha.com/article/160619- ... sb_popularhttp://www.reportlinker.com/http://www.dtcc.com/about/business/statistics.php
Transaction Statistics and Performance
In today's U.S. capital markets, billions of shares of securities change hands every day. Brokers, banks, investment managers, fund managers, exchanges and many others play prominent roles in this daily drama.
Nice how the taxpayers are doing there civic duty only in relationship of Government's basic duty to the citizens from 1929 to 1948 through untold
hardship. Today the citizen seem to expect something while the Government actively secures more tax resources to provide more of the same to unproductive elements to secure voting base. Since the Middle class is being exterminated as we have observed to date pronounced from NAFTA many have enumerated the far left and right cannot but claim there reward which is the demise of the standard of living we have observed since the divergence pronounced since 1995 we trended and noticed, or in my opinion early to Nixons warning which only a few remember now anyway about policy and really I am not a Nixon fan but he did relay some very cogent points.
About the current dollar: http://econmkts.blogspot.com/
Slowly walking out the door as we mentioned all some time ago: http://www.financialsense.com/editorial ... /0909.html
so be advised.