$$$ - Protectionism - $$$

GumbyLearner · 3 January 2009

Aussiejeff said:
From your article Gumby....

Unfortunately, that lag time is what is fooling Mr & Mrs Average Aussie into thinking "Huh? What recession".

How much of OUR Lil' Bleedin' Ozzie GDP depends on feeding The Great Steel Monsters around the globe - who are suddenly stricken gravely ill by some strange, incurable Ponzivirus and now heading for a comatose state?

aj

I totally agree AJ.

The reality of recession is only when your neighbour loses his job.

Also, the waste paper market in both the US and Uk has completely collapsed. The bulk carriers used to haul a lot of this stuff to Asian markets especially China. But now Asian markets have no need for this stuff because the a*** has fallen out of a lot of Asian-based manufacturing.

Its pretty obvious but its not apparent to many lemmings yet.

http://www.gulfshipper.com/news/article.asp?ltype=customs&sid=2006

Just count the sheer amount of boats docked in the Straits of Salamis as we speak!

noirua · 7 January 2009

Aussiejeff said:
From your article Gumby....
Unfortunately, that lag time is what is fooling Mr & Mrs Average Aussie into thinking "Huh? What recession"
aj

Remember they should, that the weak Aussie$ signals the problems heading Australia's way. The Rudd Government wants people to spend, my view, "do the opposite, save".

noirua · 8 January 2009

Is the best form of protectionism for Australia in the hands of the Rudd and Co Government?
Yes, of course it is.
Now is the time to start new major Government financed projects. Not peanut affairs, start with $200 billion over 2009/10.

noirua · 13 January 2009

noirua said:
Is the best form of protectionism for Australia in the hands of the Rudd and Co Government?
Yes, of course it is.
Now is the time to start new major Government financed projects. Not peanut affairs, start with $200 billion over 2009/10.

Richer countries are continuing with "Protectionism" as they make financial handouts and reduce taxes to stave off a prolonged recession.
Australia is changing at a faster pace than ever before as the Aussie$ tanks and mines and projects are mothballed.
Kevin Rudd & Co need to take very big steps now. One is to put the pressure on and future blame, if interest rates are not lowered to zero quickly.

numbercruncher · 14 January 2009

noirua said:
Is the best form of protectionism for Australia in the hands of the Rudd and Co Government?
Yes, of course it is.
Now is the time to start new major Government financed projects. Not peanut affairs, start with $200 billion over 2009/10.

200b ?

numbercruncher · 14 January 2009

dble post

noirua · 17 January 2009

The UK is reported to be about to announce the setting up of what is commonly called a "Bad Bank". This bank will take all the bad mortgage debt and other problem debt, off of the banks, in the UK, and this will put them in a better position to start lending again.

Aussiejeff · 17 January 2009

noirua said:
The UK is reported to be about to announce the setting up of what is commonly called a "Bad Bank". This bank will take all the bad mortgage debt and other problem debt, off of the banks, in the UK, and this will put them in a better position to start lending again.

Oh, really?

And who may I ask will ultimately be mega-funding this "Bad Bank's" Really Bad Book Balance?

*GASP* Surely not the Taxpayers?

Looks like a fun game of "Pass The Bad Bucks" to me. Bit like a legalised Ponzi scheme.

noirua · 18 January 2009

Aussiejeff said:
Oh, really?

And who may I ask will ultimately be mega-funding this "Bad Bank's" Really Bad Book Balance?

*GASP* Surely not the Taxpayers?

Looks like a fun game of "Pass The Bad Bucks" to me. Bit like a legalised Ponzi scheme.

From what I've read on ceefax, it seems as if the Government may back all these bad loans and put them into Bad Bank PLC - only of course a name given to it by the media.
The British Pound has sunk badly and it looks a bit dodgy in the UK now.

One Aussie bank has very large involvements in Europe, including the Anglo-French Channel Tunnel that is now showing a big fall in passenger numbers.

noirua · 26 January 2009

All eyes now on the big four, USA, Europe, Japan and China. Can they really help other countries in recession whilst they move downwards themselves? I doubt it now as the biggest economies have to protect themselves and the groans of pain elsewhere will gradually not be heard.

Aussiejeff · 26 January 2009

noirua said:
All eyes now on the big four, USA, Europe, Japan and China. Can they really help other countries in recession whilst they move downwards themselves? I doubt it now as the biggest economies have to protect themselves and the groans of pain elsewhere will gradually not be heard.

Ah yes. The "Gang Of Four".

I seem to remember something happened to that other "Gang Of Four"?

noirua · 26 January 2009

Aussiejeff said:
Ah yes. The "Gang Of Four".

I seem to remember something happened to that other "Gang Of Four"?

Jiang Qing, Zhang Chunqiao, Yao VVenyuan and Wang Hongwen were the gang of four. They were originally the gang of six, Kang Sheng and Xie Fuzhi died before being captured.
Two were sentenced to death, but these were commuted to all life sentences. They were all later released but all have since died. One committed suicide.

noirua · 28 January 2009

It is moving more and more to everyone to protect themselves, whilst saying to everyone else, "they must not do it."

President Barrack Obama is seen as being woolly over a free market, that President George W Bush was in favour of. So it looks like everyone for themselves.

numbercruncher · 28 January 2009

Yes time to close the borders, unemployment is about to go feral ...

numbercruncher · 30 January 2009

Its gaining momentum ....

'Buy American' - Sparks fly

Stimulus provision that places bans on purchasing foreign construction materials for public works projects gets jeers from economists, Europe.

http://money.cnn.com/2009/01/29/news/economy/buy_american/index.htm

FEARS that the world downturn will spark a trade war have been stoked by the inclusion of measures to protect the US steel industry in Barack Obama's $US819 billion ($1.25trillion) package to stimulate the US economy.

The package, which Mr Obama hopes will jump-start the recession-hit US economy, contains about $US90 billion worth of infrastructure projects, with about $US64 billion subjectto mandatory US steel requirements.

In a further sign of world trade tensions, a war of words erupted at the World Economic Forum in Switzerland over claims by the newly appointed US Treasury Secretary, Timothy Geithner, that China was "manipulating" its currency by artificially holding down its value against the US dollar, supposedly swelling the US trade deficit.

http://www.theaustralian.news.com.au/story/0,25197,24982537-2702,00.html

Let the trade wars begin then ! reform close blocs of trade partners like the good ole days .... fun fun .....

numbercruncher · 1 February 2009

Interesting times ahead !

Rudd and Turnbull feud over capitalism

Watch out - the Cold War's back.

The Labor and Liberal parties are at loggerheads about whether capitalism is to blame for the financial crisis, and if a little more socialism is the solution.

Prime Minister Kevin Rudd started the ideological battle when he railed against greed and declared governments should intervene more in the market, for the good of the people.

"Free market fundamentalism, underpinning greed, caused the global financial crisis which has now caused a global economic recession affecting every country in the world," Mr Rudd said on Saturday.

He referred to the "absolute economic carnage" caused by the crisis.

In an article to be published this week, he calls for activist governments to regulate financial markets and reduce inequalities due to unfettered capitalism.

But he stopped short of calling for a return to trade protectionism and tariffs.

http://news.ninemsn.com.au/article.aspx?id=736176

Aussiejeff · 1 February 2009

numbercruncher said:
Interesting times ahead !

Rudd and Turnbull feud over capitalism

Watch out - the Cold War's back.

The Labor and Liberal parties are at loggerheads about whether capitalism is to blame for the financial crisis, and if a little more socialism is the solution.

Prime Minister Kevin Rudd started the ideological battle when he railed against greed and declared governments should intervene more in the market, for the good of the people.

"Free market fundamentalism, underpinning greed, caused the global financial crisis which has now caused a global economic recession affecting every country in the world," Mr Rudd said on Saturday.

He referred to the "absolute economic carnage" caused by the crisis.

In an article to be published this week, he calls for activist governments to regulate financial markets and reduce inequalities due to unfettered capitalism.

But he stopped short of calling for a return to trade protectionism and tariffs.

Click to expand...

http://news.ninemsn.com.au/article.aspx?id=736176

So, what was the ghost-minister-for-trade (is that really you, Mr Cream?) doing when he was pleading in the last few days with the EuroBloc to essentially "stop plans to further protect the Euro dairy industry (presumably tarrifs etc), as it is unfair on workers and farmers in our own Oz dairy industry"? Isn't that a de-facto way of "protecting" Oz jobs in itself?

Oh, right. I stand corrected, Mr Cream. That is what YOU and your KRuddy mates call "free trade talks"? R-r-r-i-i-g-h-t.

"We in Australia are 100% for Free Trade & the Rights of Australian Workers"
[size=-2]Written & authorised by S. Cream, Laborious Party. [/size]

shaunQ · 1 February 2009

numbercruncher said:
"Free market fundamentalism, underpinning greed, caused the global financial crisis which has now caused a global economic recession affecting every country in the world," Mr Rudd said on Saturday.

I reckon this is a political move. It is quite likely Rudd will need to go into deficit shortly. Whatever he does Turnball is there to say, "you shouldn't have done it that way!". Such as the Commercial real estate funding proposal and tax cuts or stimuli.

He knows as Australia crumbles it will be him that ultimately has to cop the flack, regardless of what he does, and in many ways, there isn't much he can do.

So what do you do? You start an ideological war. Turnball has no option but to defend the "free market" and Rudd is trying to look more pure than the merchant banker whose friends all caused this mess (or so the spin will go).

numbercruncher · 1 February 2009

The Doha fans are starting to get restless including our own Crean machine .....

Trade Minister Simon Crean hopes a long-awaited world free trade deal can be wrapped up soon to help countries tackle the global financial crisis.

Crean was among a group of about 18 trade ministers who met at the World Economic Forum in Davos, Switzerland, on Saturday to discuss how to inject new life into the stalled Doha round of trade talks which have still not been finalised after eight years.

Many countries, including Australia, have voiced concern at a "Buy American" measure in US President Barack Obama's $US819 billion ($A1.26 trillion) stimulus package which bans the use of foreign steel in infrastructure projects.

The European Commission's plans to reintroduce dairy export subsidies have also been seen as a threat to Australian farmers.

http://news.ninemsn.com.au/article.aspx?id=736287

noirua · 2 February 2009

Memo US: Protectionism experiment tried in 1930 and didn't turn out well: http://www.stockhouse.com/News/FinancialNewsDetailFeeds.aspx?n=12233439&src=cp

Paragraph that says its perfectly OK for some countries to stimulate demand and then goes on to say, the problem is if everyone else does it.

$$$ - Protectionism - $$$

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