The number U

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The number one U s export to China of waste paper and scrap metal.
Historians tell us that by the end of the Roman Empire, goods flocked to Rome from all over the known world, but the only thing to be sent from Rome garbage and human waste in America has not yet reached that point, but we are definitely on track in 2010, the main export of the uS to China is scrap and waste Yes, you read correctly the first thing that China buys us According to our trash is the number of the author Clyde Prestowitz China's exports to the US are hardware nearly 50 billion while our main export product for them is waste paper and scrap metal about 8 billion in terms of world trade, China is literally wiped the floor with the United States in August, the US trade deficit with China set a new record for a month of 28 billion fraud lars our trade policies are crazy to make China as well as several of our other incredibly rich trading partners and the government of the United States beg China to lend money to finance our national US explosion debt just isn stupidity t is madness.
The truth is that our twin deficits literally ruining this nation, we are destroying completely and totally the economic future of our children and grandchildren.
Still, the Vikings beat the Cowboys, Dancing With The Stars is heating and we all have a lot of DVDs to get caught on so why worry, right.
Unfortunately, the reality is that we can afford to be t comfortably numb longer if we hope to have some kind of future.

Unfortunately, a large percentage of young Americans these days can not even tell you what a trade deficit.
If you do not believe it, just try a little experiment a little time just go to some young Americans in the street and ask them to define the trade deficit for you.
Fortunately, the vast majority of readers of this column are quite informed Unfortunately, I still do not believe that most of you really understand how the trade deficit is incredibly dangerous.
So just how dangerous is the trade deficit Well, the world famous investor Warren Buffett once put it this way.

The US trade deficit is a greater threat to the national economy either the federal budget deficit or consumer debt and could lead to political unrest Right now, the world has 3 trillion more of us than we possess of them.
Between 2000 and 2009, the US trade deficit with China soared nearly 300 percent wealth, factories and jobs are leaving the United States by a staggering danger it poses to our economy is so vast that it's hard to even describe.
If you ever find yourself in a debate with supporters of free trade, you can get almost always eventually admit that free trade raise the living standards of workers in countries such as China while reducing significantly the living standards of American workers, but it must be done for the good of the emerging global economy.
Of course, American politicians never really mention this fact little naughty when they give speeches about how wonderful our trade policies are they ever really move mention that free trade is one of the essential foundations of globalization and that we are merged into one world economy.
Today, American workers do not only compete with other American workers rather American workers now find themselves in direct competition for the jobs of workers in China who made less than a tenth of what an American worker would make in China a garment worker makes approximately 86 cents an hour Apple iPhones are manufactured in China by workers making about 293 dollars a month and that was after a big raise.
So exactly how long do you think you and your family would be able to survive 293 per month.

Unfortunately, millions of Americans will lose their jobs and millions of other Americans will be forced to take a pay cut to compete in the new global economy.
According to a disturbing new study by the Economic Policy Institute, if the trade deficit with China continues to increase at the current rate, U S economy will lose over half a million jobs this year.
The sad truth is that this is not a good time to be a blue-collar worker in America If your work is not outsourced or contracted out, it is likely to be rendered obsolete by computers and automation.
The need for manual labor is declining rapidly in today's world, for example, there is a Japanese company called Fanuc Ltd which makes industrial robots manufacturing other industrial robots in a factory lights off.
But wouldn t be things just as bad for the U-workers if China does not cheat so bad The truth is that they do not play the game enough.

For example, it is estimated that the Chinese government keeps the yuan valued at approximately 40 percent lower than it should be it is essentially a de facto subsidy to Chinese exporters.
There was some rumbling in the Obama administration about in recent weeks, but it is highly unlikely that they will push China too far on this issue, after all, the Obama administration desperately needs China to continue to give us massive amounts of money so that we can continue to finance our runaway debt.
If you sit back and objectively analyze the facts, it quickly becomes undeniable that China beats the crap out of economic life we ​​In fact, a prominent economist projected that the Chinese economy will be three times larger than the US economy to by the year 2040 if current trends continue.
All this could have been turned around a decade or two, but now China has us by the throat, at any time, China could decide to start selling massive amounts of bonds from the US Treasury at any time China could decide to cut our supply of rare earth elements which they have a virtual monopoly.
China is even now the leading supplier of components that are essential to the operation of U-defense systems How clever we were allowing that to happen.

It is a direct threat to national security for China to have such an influence on us, but you rarely hear someone talking about it.
The truth is that trade with China is not a matter left to right as I have written about previously, it is impossible for a conservative who respects to justify our trade policies with China and it is impossible for any liberal who respects to justify our trade policies with China.
Yet very few of the current members of the U S Congress still discussing the possibility of radically changing our trade policies.
So we will continue to lose thousands of factories, we will continue to lose millions of jobs and will continue to see the greatest wealth transfer in the history of the world to accelerate.
So do any of you that I'm wrong on this please feel free to leave a comment with your opinion below.

American politicians are idiots vote to all holders of new imbeciles We will eventually get the right A nation gets the leaders it deserves.
All facts and opinions aside, the most important question is this; what can a guy working class average with his wife and three children by about 55,000 a year in a foreclosed home to trucking safety and use of free rent in the submarine no movement in the last 12 months do now in anticipation of the coming crash My vote is food, food, food, followed by firewood and maybe a little money Reject ideas.
happy face I also thought about how, just before World War II, the United States was selling huge quantities of scrap in Japan diplomatic relations were increasingly strained to the point where it was clear the war was only a matter of time, exports but special interests stubbornly dragged its feet almost to the end we talked about blocking.
The Great Depression was followed by the war with Japan this new depression be followed by a war with China The only question then maybe the number of nuclear warheads from China, and reliability of their work over ours.
Someone thinks that the I-phone would cost 299 in France, England, Brazil or Australia, they have a certain level of prices in relation to these products to protect its trade deficit You will probably find the price of about 400 500 in these countries only the US Brings the cost to the bedrock at exporting our jobs.
The cost of the i-Phone in Australia is higher than the lighter cost the US When you subscribe to a mobile operator, you can usually get the phone for free, at least I did.

In Australia, we have very low prices, which is why we don not have many manufacturing What we have is very specialized.
Apparently, our economy is doing so well because we sell iron ore and coal to China Unfortunately, Salavation army released a report Monday showing that 1 to 10 people live in poverty.
I'd probably live in poverty here in America but our poverty is self induced.
We elect a government that will give us a carbon tax, wants to impose a super profits tax on mining exports and told people that the two taxes will be good for growth.
So take heart in this part of the world we have elected morons to lead us into oblivion.

293 as we did in the 70's end, no running water, we watered and fed the animals on a farm to rent, burned wood for heating, gardened, canned, maple syrup of 5 year rolls for a dollar at the store, we had a cow for a while, chickens, rabbits Yes, we had a little child labor in progress at the time, actually enjoyed most of the work well and I 'm glad I learned that earn your keep meant when I was younger this blog post may seem alarmist, but when the Americans don t care about buying local, sustainability, and throw society, no wonder it costs so much to get through first China is a nation of savers, as well as other one day the world economy roaring again and the race to eat all the worlds resources will again You can talk democracy throughout the day, it is a bit large, although burdened by the laws stacked so thick, and now in some respects an anti-business climate, but still, what a melting pot The world economy will take off like a rocket again someday, it's still a race to eat all natural global resources as they can be sold for money.
CEOS continue to pay 90 million a year, and then you complain that the factory workers in the U S do.
Wake up Republicans will kill the middle class for corporate profits.
There is a man who was addicted to crack, he lost his entire fortune to his dealer, he had nothing to sell to buy more crack, he asked the dealer to give him a loan so he can continue his usual convincing the treatment he had the money, but they were tied up in securities and it would take time to convert into money the merchant believed him and granted him a loan loans have become plus the addict was happy with his steady stream of spam, and the dealer was satisfied with the IOU s until judgment day came when the dealer realized that the addict was the largest wealth what the dealer in real life, the addict would find at the bottom of the river queens What will be the distributor in our analogy do when he discovers these IOU's are worthless.
I was working on one of my recently acquired Preps diesel pickup used today as part of our ongoing preparations The goal is, of course, diversify our fleet between gasoline and diesel oldeer that can run on the kerosene, biodiesel, etc. have a variety of fueling procedures will be important in the continuing collapse of social decline.

While in today junkyard, obtain spare parts to bring the truck to superior functionality, in fact I got a good service because they seemed desperate for any business, to the point where I almost felt sorry for them, except the fact that although they were experts in older diesel pickup, communication between them was almost incoherent most of what I heard them sounded like a series of eh, blu blu, yup yup, bluh bluh bluh, yep yep, etc. one or three may heve been on something, to include methamphetamine, since one of them was very talkative.
I wonder if there is a relationship between the Cash for Clunkers program and business decline in scrapyards I know that one of the side benefits for the elite hidden was selling larger quantities of scrap China.
While Wrecking the court was very helpful, I'm still glad I posess a certain amount of ammunition they have already looked like zombies mutants One talkative already using gray tape as finger bandages.
Are you suggesting that we should be angry against China to sell us products at too low a price that has no meaning other than as an excuse to gangster government to raise taxes and regulations.
I do not think we should blame China for our problems Get rid of the income tax and drastically reduce defense and regulators could quickly lead us out of our greatest recession and go a long way toward solving our balance of trade problems.
I am all in favor to your argument, but how the hell did you get Lew Rockwell, Mr. free trade-Forever Don t Worry-About-Chinese-currency-handling to run this article.

Free trade is not the problem that the article seems to imply, as the term free trade as used in the context of this article applies only to overseas markets.
Free trade is exactly what is required if we ever wish to make back in North America The problem we see the blind evaluation of free trade by this author, is the denial of the fact that unions , laws on minimum wages and draconian regulations writ large American industry, has stifled the productive life of our economy.
US industries moved abroad to escape these immoral and unnecessary forces.
Question If all USG s alphabet agencies are of vital importance as regards security, fairness, and all the other BS rated in propaganda, so why China's economy growing at an alarming rate the absence of said wisdom.

Free markets only work when all participants are free to roam their goods, suffer the consequences for incompetence, and reap the rewards for success.
End the FED, abolish unions, abolish public schools, and beat back the federal government is constitutionally limited impotence, and let flourish global free trade because it has to 100s of years before the arrogance of politicians screwed to the top.
No body wins a trade war guy you should listen to what jim rogers have to say.
Even if the RMB is undervalued, it wouldn t be good for any rapid appreciation It would destroy US companies if it appreciates eg 10 per year, as it would any other more expensive thing.
I think politicians play the blame game too especially regarding the value Yuan They should implement more policies to make us more competitive manufacturers tax reduction incentives, fewer regulations, reducing the minimum wage, this reduces the unions.

They should think of a population control, but of course, it would be the right political suicide While this may be good for the nation and the planet.
Why not talk about monetary policy trade-related Mises said that money is one half of each economic transaction You have the products and services you want to buy the one hand, and the money that you want to another that we are forced to use Federal Reserve Notes Gunpoint makes us vulnerable to China's currency peg is oNLY 90 of the original problem of our trade imbalance.
Nobody except for Austrian economists will tell the truth about it.
The fact that so few Americans know the solution to most of our economic problems abolish laws on currency and the Federal Reserve said no, people still felt pain enough to take care People are not willing to come to grips with reality and what needs to be done the Federal reserve is still the third rail, the one who can not be named, the man behind the curtain, so on and so on, we can not even get a proper audit of the Federal reserve or the gold at Fort Knox.

The fact of the matter is this country is broken and broke into at least a dozen Confederations by the time all is said and done and this country needs to be broken is just Too Damn Big What the hell Washington DC namely A about California, for example those bureaucratic morons are standing by saying we do not charge t care if California passes Proposition 19 and legalize marijuana, we're still going to enforce drug laws those bastards DC n ' not have to deal with our border problems they don t have to worry about criminal gangs coming from Mexico and shooting people here, they do not have to worry about being productive, and managing a business or have the opportunity to even start a devil Who are they to say the United States in California what we can and can not put in our bodies voluntarily Especially when legalizing marijuana would solve so many problems for California, com there took our own financial problems.
This country is doomed It s condemned by big government that lives in Magical Fairyland Far, Far Away We will all be grateful and better ourselves after the break, with localized government is close how the hell can I get even DC protest without taking time off work and blow all my money on airline tickets.
Trading is fine as long as we continue to innovate here and more in finance and technology to get rid of monopolization IP and reduce the regulations for the next wave of tangible areas may develop.
Oh ya, end the Fed Its bankers and their inflationary policies through the Fed that enslave us debt make us work more for less.
You are quite free trade Free Trade wrong is part of freedom as the freedom of consumers to buy things they want done elsewhere Would it be better if we could not buy China Taiwan computers etc. If these computers were blocked in the uS market as their cars are cheap and we only had the choice of 5,000 homemade computers overpriced crappy analogy of cars in the United States would be much better off.
You have identified a disease, but prescribed the wrong treatment.

The deficit is a problem, but you mistakenly looking, like the Dems look at the budget deficit in the bad sense to say that they think they need to increase government revenue rather than cut spending it is that we buy more than we can simply that if Americans consumed within our means, we buy less from China and abroad while continuing our same output that would bring the deficit in line or at least reduce manageable size This protectionist rhetoric is ignorant and frankly scary, I am disappointed that alleged economic experts are here to offer protectionist measures to tariff increases the price of goods and materials still rising prices equal lower production and the lower purchasing power for businesses and consumers Yes, China and India have much more factory jobs, but they cost Cheap and low-skilled assembly type jobs here, we design, test and innovate these widgets they assemble, to market and sell the things we produce tend to be technical hig hly such as airplanes, IT systems, etc. Finally, free trade does not lower our standard of living, we actually loan debt.
According to your logic, if I run on an icy sidewalk and slip and hit my head, I should stop running and exercise rather than avoiding ice roads.
The author of this article has shown no understanding of the economy This author seems to think that Americans should be a sort of exception, and a 3000 CA wages month poverty line should be protected by barriers to trade .
Free trade is the only way, but it will not help if one supports the fascist state, because such a state will inevitably lose in free trade competition Our loss is the result of competition having fascist order, not free trade, the path is far from free.
Fortunately, intended or not, nature has a way of redressing all the excess excess latter to have a government without harmful restriction on supposedly free country, is not an exception.

I'm curious how the fascist propaganda of the site may be Lew Lew is not by this author that we think it is.
China is even now the leading supplier of components that are essential to the operation of U-defense systems How clever we were allowing that to happen.
Well, if you cheer for the American empire, then yes, it was dumb, but if you believe that empire is bankrupt the country and the creation of a police state ever vigilant, then this might be the only outcome.
The only question is will any of us survive when the US government implodes.
The middle class is over for the past 30 years, but no one paid attention until the depression hit us, I looked exposed on 60 minutes when he made inquiry reports which showed how US companies tax breaks by claiming to be based in the Bahamas shows I watched on expenditure control gov t 300 hammers and 1,000 toilet seats I saw that municipalities and school systems have failed to invest in derivatives on JUNK stock market still sells to unsuspecting suckers.

Nothing was ever done it all certainly not by Congress, which was too busy taking bribes and campaign contributions to help companies get richer.
So now most people can not find a job or pay their home, and they live on soda and hot dogs, because it's all they can afford the cost of staying warm at the wheel of a car, and eating is set to continue to rise perhaps is what it takes for the sheeple in this country to finally get their asses and streets.
My advice in the meantime is to supply firearms, ammunition, food, water and protection of jewelry, survival, barter.
As an importer for 35 years, it's easy to spot the nonsense Prestowitz Comparing the dollar amount of what China sells us to computers compared to the volume in terms of space taken on a ship that we are sending to scrap China, it seems alarming But apples and oranges id.
There is no guarantee the money will review the changes, when Japan was in the 60s and 70s, we ended up buying more Currently, US consumers benefit from the policy Chinese, and there is no certainty desires produce results expected.

No American has ever lost a job in China this happens is due to industrial policy govt US get big or get out, new jobs are placed in new plants where there will be greater stability in the future China These lost jobs are not coming back because like buggy whips, we are more t use them.
Overseas big biz United States can avoid regulation and taxation unnecessary USA unnecessary, which together Crushes small biz McDonalds got an exemption for Obamacare Big biz can launder the profits for themselves and pay US politicians.
Don t China blame for fielding politicians and biz people smarter than the Hamiltonian system US can field If we want to revive, we need to eliminate subsidies and protections wholesale biz United States, reducing regs and taxes, so small biz can lead America back 1 But our big biz big govt rather reign over ruins that serve freely.
Don t expect the help of teaparty or elections, candidates are all ringers, as you will see in 2 years The problem is you, yourself, not the Chinese can reform you.

I'm with Spiers This article globalism errors of free trade in a true free market, we would be allowed to compete against the powers of the major companies on a playground This means no tax and no subsidies and no restrictions commercial This is far from reality, where governments have been bought and paid for by a few powerful companies in an effort to focus on trade for some and led to flawed trade policies we Everyone today complains that this is the result of free trade unmixed seriously delude ourselves.
China is not the real threat to our economy and our banking system corrupt politicians who suck on the tit is is why our dollar donation t boy right here, but go further in China and Mexico where the willingness of foreign workers.
If we can protect the American military why can t protect us commercially invading armies less damage than that the U S government has allowed China to do for us in Detroit seems worse than London after World War II.
The largest export of the United States, despite you think software, and all apparent ribbish here is a cultural product Music and Movies This is what keeps California and the Governator to power and made Ronald Reagan, he was Chief Screen Actors Guild before becoming top export propaganda, the American President America.
What is an average working stiffs rants Keynesian Chinese mercantilist don t get 55,000 a year, they work like dogs to send cheap consumer products in the US and the UK, where I live and increasingly without US dollar value are their government not they get in return.
This article that China owns us godless by its property of approximately 6 to depreciate US taxpayers of US Treasury own about 75 aren t we lucky.

When the Chinese have the property of the Federal Private Reserve Are those crank in US dollars at will is therefore the Chinese we have to pay each time a note from the Federal Reserve is produced to deficit in social spending and the war that the US dollar is the reserve currency of the world, they are also the biggest manipulator in the history of currencies.
After the site regularly Lew Rockwell for almost two years, my reading comprehension is lower than normal or is this article a person as confused as I am.
Yet another blog alarmist without any suggestion on how to get out of the mess, or important contributing factors to the mess.
What would the Chinese currency as if they weren t able to buy T-bills, i e if the U S government didn t deficit probably something more, no.

Why is it so much more expensive to live in the U S than anywhere else perhaps crony capitalism.
Why can not we just move the Chinese factory workers at the U S and work here for the same pay they would like and we could keep a better eye on the activities of the plant.
If we stop all imports from China, these jobs will come to the U S or other developing countries is the correct answer another developing country China is not to blame for the trade deficit .
It is estimated that the Chinese government keeps the yuan valued at approximately 40 percent lower than it should be.
Who does not say the market, since the control is the world's money by central banks and central banks are currency manipulators by definition I mean, what is inflation the Fed failed to otherwise handling currency.

Translation of Trade won t be free until the money and the bank is the period.
Regarding your statement if your work is not outsourced or contracted out, it is likely to be rendered obsolete by computers and automation.
Should we ban tractors and force farmers to return to the use of horses.
Or prohibit 18-wheelers and ship all goods on trucks half that size.
Or prohibit backhoes, shovels and earth moving machinery and cook everyone a pick and shovel.

These solutions would end unemployment immediately.
LOL, what are the fundamental understanding of how the economy works and how technology makes it the most productive world as a whole, automation does not put people to work, on the contrary, it raises their standard of living.
I think you should check your premises again and read the theory of comparative advantage by David Riccardo before condemning trade as the reason for todays problems in the United States.
You McNally noted that globalization has increased, the United States has chosen to compete on the basis of cheap labor by outsourcing We kept marketing and executives here and elsewhere moved manufacturing We have been playing this game for 20-30 years Germany has chosen to play the game in front.
Geoghegan, 30 years later, China Germans are making money off of, and China makes money big time off of us a thing I really trying to get across in the many book Americans think we had a trade deficit because we can t compete with China we have a trade deficit because we can t compete with Germany in the selling of things in China as long as people wake up and look at the kinds of things that the Germans are doing to maintain their manufacturing base, we will continue to deficits that leave us in the grip of foreign creditors and compromise our independence as a country.

Looks after WW2, Germany's which eventually won big, Russia and China are ok, but Japan is becoming the US-2.
So many smart guys gals commented and ransacked the author Sometimes it takes a little reading between the lines to one, the industrial era is not too far along, that everything still runs on steam and small explosions in metal cylinders i mean guys like Bruce and many others believe that everyone should be sitting in an office as work environment or something one day and all educated about the economy, which, by path is simply the wars we are fighting real wars between real, you know, kind of destruction without war motif This is how so many Americans feel as they ride on a high standard of living in the unbeknownst to most of the people living life in China and India, etc will take our waste no problem, cheaper than extracting from the earth It could just be that the author of this piece sound like a little country many others América ins, and see how the simplicity and hard work benefits a nation we have lost something.
Why not just say to China, all the good of the US Treasury held, can be used as scrap paper.
They will save import costs, and they can wipe their ass with them, since that is all they will be worth it.
Vacuum China, this is not the first time you've been screwed by Western bankers.
All wrote what I mean guys like Bruce and many others believe that everyone should be sitting in an office as work environment or something someday.

Heh, not quite I was a toolmaker for 42 years, and for nearly 26 independent I learned tool manufacturing to the old, well before computers there are about a dozen years, I bought computer equipment and was amazed at how I was much more productive in office work, I can easily do the same work I did before March 2 in the time, and the quality is better if I had not kept up with technology, I would have gone bankrupt because I would not have been competitive.
This is what the technology makes people more productive and you think this is a bad thing if you really, then we should give up all the technology and live like cavemen Or like people do there or 200 years ago 2000 years at what point would you go back to.
How would not have indoor plumbing, cars, modern medicine, central heating, air conditioning, etc. improve our lives if women are forced to spend all day and half the night in the kitchen, cooking meals with a wood stove Do you know how hot kitchen is when it is 90 outside, and the only way is to cook with a wood stove and I won t even get the pleasure he tries to wash dishes without running water.
America should be one of the best places in the world to live, beautiful scenery, great wildlife and natural resources It seems that the desire to build an empire overloaded the idea of ​​freedom and independence J hope that the US recovers quickly and built his wealth again national resources.

What is curious about the US is that the population is armed, and when he wants to be, about freedom very assertive, the federal government must listen to the people because you can not argue with thousands or millions of angry people who have guns.
I will pray for America and that things improve from now.
Until mans America and China gets to leave their currency undervalued, this madness will continue.
I am a rock ribbed conservative libertarian, but I agree with uberliberals on it; we need to be assertive with China and bring them to float their currency, so that it can achieve is the fair market value if China refuses to let its currency float for example; allow it to trade freely in the open market, our government should slap sanctions on Chinese imports to compensate for the difference.
At the same time, America must own up to our financial mess and make tough choices about taxes and spending; we get our house in order.
Lol exactly how big legal battle you think that there will be ways to circumvent the law in China.

It is fun to blame China for currency manipulation But who is the master manipulator The Fed, which is which.
Whether through trade or war, we pump dollars into the world of foreign central banks have to do something with them, they buy our debt, and are not too happy with such low interest rates.
Why money newly created hasn t got to those it's intended to help the so-called small businesses, consumers, etc. Because instead it's used to fund speculators speculation currency purchase foreign bonds denominated in US dollars, exacerbating the export of inflation.
If the Chinese central bank, and others, not to lose by buying our inflation Fed created their currency manipulation to keep pace with ours.
Just as I d like there is a simple solution, blame China for what our own Fed won t solve the problem instead, international trade will be disrupted and the global reserve currency status of the dollar must be destroyed when this happens, it will not be even possible to export our inflation.

Think we should just say china make our factories produce get people who take low rate many jobs would always be happy to work and get our steel plants back online produce our own china stop giving aid to theese any bit e ehand gods that country feeds of Isreal country support and prosper.
The victory of deficit are Bankrupting the nation The United States has a monopoly on the creation of the dollar is a fiat currency How can you throw money that only you can create is a great advantage to have a trade deficit Allow other countries export their work and resources for our benefit.

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The number U, number, amount of scrap, Bruce many others.

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