Wall Street Elites Made Us Dependent
On China
American Greatness,
by
Curtis Ellis
Original Article
Posted By: earlybird,
3/13/2020 2:03:39 PM
As America faces possible shortages of antibiotics, face masks, iPhones and various other items now produced in China, it’s time to consider how we got here.
Although it looks like the blame lies with thousands of businesses in different industries, in this case, we’d do well to round up the usual suspects, a smaller number of players operating in one particular industry: big finance.
The financialization of the economy gave Wall Street primacy over the productive economy. Financiers drove the consolidation of various industries into fewer and fewer hands, harvesting billions of dollars first through the sell-off of productive assets in a mania of mergers, private equity, and leveraged buyouts, and then
Reply 1 - Posted by:
govlawyer 3/13/2020 2:25:33 PM (No. 345320)
Thanks, Bush 41 and James Baker for ushering in the New World Order....[sarcasm off]
15 people like this.
Reply 2 - Posted by:
Terry_tr6 3/13/2020 2:33:11 PM (No. 345326)
don't forget america's favorite capitalist mitt "holy underware" romney
11 people like this.
Reply 3 - Posted by:
DARling 3/13/2020 2:52:37 PM (No. 345338)
I think Americans are learning how little they need Chinese-made iPhones and ten dollar coffee pots. I already look at all alternatives to Chinese products when buying.
11 people like this.
Reply 4 - Posted by:
DVC 3/13/2020 2:58:41 PM (No. 345344)
FTA Affinity to one’s place of birth, fellow citizens, or culture did not fit in their MBA spreadsheet."
Yes, they are traitors, just that simple. In plain sight, yes. But traitors just the same.
And Begin was right. "when the enemy tells you he wants to destroy you, believe him."
Yes.
China is the enemy. Never forget it.
13 people like this.
How sad that the lure of money prompted this coterie to put the US into such jeopardy.
12 people like this.
Even many of the goods that left China due to the tariffs, are finding the materials they need to complete the process in Thailand or Vietnam, are supplied by China.
Thus, they can't complete the production in Thailand or Vietnam until they receive those materials/parts.
As far as some items like drugs, medical supplies, they should likely be re-sourced in the U.S., maybe even find a spot in Puerto Rico to help that economy out.
9 people like this.
Reply 7 - Posted by:
lakerman1 3/13/2020 3:03:26 PM (No. 345349)
it was during Dollar bill clinton's presidency that the medicine move to china grew rapidly. and it was Dirty donna shalala as secretary of HHS who changed the distribution of vaccines.
as a professor, I argued against just in time inventory, as well as the relentless outsourcing of stuff to China.
15 people like this.
Reply 8 - Posted by:
judy 3/13/2020 3:09:03 PM (No. 345352)
Greedy companies charge high prices , pay foreign countries cheap labor , CEO s high salaries & put American workers out of jobs Taking the origin from the food products really worries me. Smithfield & Holly Farms send their products to China for processing, Oreo cookies are made in Mexico. When people. Complained about Oreo. Cookies magically made in Mexico disappeared!
7 people like this.
Reply 9 - Posted by:
Pearson365 3/13/2020 3:09:36 PM (No. 345354)
Problems began with Nixon, the RINO who imposed OSHA, EPA, Clean Air and Clean Water Acts, to name just a few of his anti-free enterprise actions in order to demolish the 1972 version of Bernie Sanders, McGovern. Then Nixon opened the doors to the no regulation, no minimum wage Communist China. Each president thereafter bowed to China’s dictatorship while imposing ever more costs on business. So while Wall Street seeks profits politicians seek votes no matter the long term harm to the US.
8 people like this.
Reply 10 - Posted by:
msjena 3/13/2020 3:46:52 PM (No. 345397)
#1 beat me to it. Yes, Bush 41 bears much of the blame for our dependence on China. Clinton, too. I tried for awhile to not buy Chinese-made goods, but it is impossible. Trump has it right--if China wants us to trade with them, they need to trade with us.
7 people like this.
Reply 11 - Posted by:
msjena 3/13/2020 3:49:24 PM (No. 345398)
#9, Nixon did not open us to trade with China. He merely gave China diplomatic recognition. Trade with China--meaning us buying goods from and employing workers in China--began with Bush 41.
5 people like this.
Reply 12 - Posted by:
oldmagnolia 3/13/2020 4:06:03 PM (No. 345409)
Yes they did and the congress cockroaches got rich over it. Vote them all out.
10 people like this.
Reply 13 - Posted by:
red1066 3/13/2020 5:41:17 PM (No. 345500)
Don't forget, It was Bill Clinton that made it possible for our meds to be made outside of the U.S. All these problems with testing was caused by Obozo signing a bill that all state health departments mush go through the FDA. Trump changed that to speed up the process.
5 people like this.
Reply 14 - Posted by:
JL80863 3/13/2020 5:46:16 PM (No. 345512)
"For every complex problem there is a solution which is clear, simple and wrong." It's those damned Wall Street Elites, again. s/o
3 people like this.
Reply 15 - Posted by:
Pearson365 3/13/2020 6:55:03 PM (No. 345594)
Please stop rewriting history in order to defend the incredibly corrupt Nixon. Nixon’s trip to China was to establish diplomatic relations in order to sign a Trade Agreement with this communist slave state at the expense of American manufacturers. While Nixon was forced out of office before the 1979 Trade Agreement, he deserves the discredit for it.
“1979
The U.S. trade with China is part of a complex economic relationship. In 1979 the U.S. and China reestablished diplomatic relations and signed a bilateral trade agreement. This gave a start to a rapid growth of trade between the two nations: from $4 billion (exports and imports) that year to over $600 billion in 2017.Nov 21, 201”
6 people like this.
Reply 16 - Posted by:
TXknitter 3/14/2020 4:19:39 PM (No. 346358)
And also #8, remember who sets the rules and makes it all so lovely for greedy companies. It is your Congresscritter, Senator and mine doing the bidding of the biggest campaign donors. THEY made all of it possible. We have a huge number of incumbents on the Hill who have been around for many years. THEY are to blame
just as much as the former Presidents!!
0 people like this.
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