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  • Alan Greenspan on trade: The notion that foreigners are ripping us off is 'nonsense'

    From cnbc.com

    Former Federal Reserve Chairman Alan Greenspan sharply disputed the notion the U.S. was being ripped off by other countries because of its trade deficit. The former central bank chief told CNBC that President Donald Trump has the situation "reversed" as it pertains to global trade issues. Asked if he thought the country was in a trade war, Greenspan told CNBC's Sara Eisen that "we're on the edge. I think we should be very sad if we do, because the presumption is that foreigners are ripping us off. It's nonsense." However, the man nicknamed "The Maestro" for the way he handled central banking ... (full story)

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Reasonable assessment.
  •  Guest
  • | IP XXX.XXX.150.111
The man nicknamed "The Maestro" caused the last Financial Crisis!
They're selling the USD/CAD before the Federal fund rate hike !BAHAHAHAH AHAHAHHA AHAHAHHA AHHAHAHAH watch what happens next. Welcome to the slaughter house boys and girls. Very courageous the ones that are selling.
Quoting Guest
The man nicknamed "The Maestro" caused the last Financial Crisis!
Its mismanagement of the economy by the leadership of the country that caused it. reading falling into Bin Ladens Trap.
Quoting Tony112
They're selling the USD/CAD before the Federal fund rate hike !BAHAHAHAH AHAHAHHA AHAHAHHA AHHAHAHAH watch what happens next. Welcome to the slaughter house boys and girls. Very courageous the ones that are selling....

Who they?
  •  Guest
  • | IP XX.XX.125.41
IMHO Alan Greenspan knows more about the way the global financial system works and impacts on the US economy than almost anyone else alive. I take what he says very seriously. As should all traders, whether I/you agree or not with his outlook.
Quoting DonFF
{quote} Its mismanagement of the economy by the leadership of the country that caused it. reading falling into Bin Ladens Trap.
so excited
Quoting DonFF
Hidden
The reality of it all is our awesome president, that I helped elect into office, with his non-conventional ways is doing exactly what we asked him to do. So go sit in the corner and color mr. canada! By the way, your president is quite the pussy, eh?
green scam - has spoken--- total non sense.............. this con used to support the gold standard till he became a spoke in the wheel of printing useless non backed paper called fed Reserve notes.

you cant pay off a debt with a debt instrument --- total con job

the puppet strings have been pulled........
What Alan is alluding to in the interview is: trade deficit is a case that import exceeds export. It is a case of US citizens demanding more of foreign produce than local produce. It is about competitiveness and not about foreigner ripping off us. This I agree.

However, what Trump is saying is, lets compete on equal ground. You slap 270% tariff on us and we only apply 5% on yours. Let's close this gap and compete on more equal ground. Is there any argument that what Trump is trying to do is unfair and nonsense? If all the other nations take down their tariff or set it to equitable rate as ours, and if the trade deficit still remain, then Trump will probably shutup and go deal with the issue of US competitiveness instead. But the fact is US competitiveness is severely undermined by unfair tariff barrier which need to be lowered or else we will have to raise ours.

Alan has therefore missed out on why Trump do what he did on tariff quarrel. But of course, steel and aluminium tariff matter on the other hand is one pertaining to national security interest and has an entire non-economical set of reasons. They are only nonsensical if you think a president trying to secure national security interest is nonsensical.
How do you level the playing field..... You level it first --- other countries dont like it? ... they will be at the negotiating table at some point. trump knows this

as for the national security --- you keep production within your borders so you can not be hurt by other countries for any reason..

in the usa law of the land doc..... tariffs are the only income for the usa gov..... did not teach that in screwl.
Quoting Hareii
What Alan is alluding to in the interview is: trade deficit is a case that import exceeds export. It is a case of US citizens demanding more of foreign produce than local produce. It is about competitiveness and not about foreigner ripping off us. This I agree. However, what Trump is saying is, lets compete on equal ground. You slap 270% tariff on us and we only apply 5% on yours. Let's close this gap and compete on more equal ground. Is there any argument that what Trump is trying to do is unfair and nonsense? If all the other nations take down...
What is the assumption in your comment....It is that every acre of land on the planet....expand that to mean every so called country is equal.

This is simply not the case.

People must learn to share what they have and learn to respect each other. This is a far more weighty matter than cheating your way to grab many marbles and use this as a basis for why you believe you can lead others.

Leadership is done in action not assumed away based on how many marbles you have.

To whom much is given is much expected.

There is not one human being alive who brought anything with them to the planet and there will be not one who take even one atom of oxygen with them when they leave!
Quoting DonFF
{quote} What is the assumption in your comment....It is that every acre of land on the planet....expand that to mean every so called country is equal. This is simply not the case. People must learn to share what they have and learn to respect each other. This is a far more weighty matter than cheating your way to grab many marbles and use this as a basis for why you believe you can lead others. Leadership is done in action not assumed away based on how many marbles you have. To whom much is given is much expected. There is not one human being alive...
Trading is mutual. Both side has to be happy to accept the trade. If one side is not happy, then being forced to trade is called robbery. I mean if both side cannot agree on the terms of trade, then don't trade. Simple logic.

Is US obliged to buy/sell its good and trade with any nation? No. Is other nation obliged to buy/sell its good and trade with US? No. If one side is not happy, then don't trade.

So if the other nation want to trade, then lets talk terms until both are happy. If it is a case of US bullying, then the other nation just pull out and discontinue trading totally with US. Simple. No need to accuse us for this and that. Its a free world, no one is forcing no one.
Quoting iamsovereign
you keep production within your borders so you can not be hurt by other countries for any reason..
It is not how it works as you said. Cheap steel and aluminium (China is accused of dumping) from overseas will mean local steel mill cannot survive and has to shut. The number of steel mills today in US has gone down by a lot and I read that there are only about 5 major ones left and only ONE who can produce highest quality grade aluminium. (I may be wrong as I have not studied into the details)

Do you think US can sustain a long war campaign with the current number of steel mills in the country? I don't know the answer. Trump probably know better and probably has sense the danger ahead.
You want a level playing field? Median wages in China have quadrupled in the last 10 years alone. What have median wages done in the USA in the last 10 years? They're flat. Does that sound like leveling? Well, yes, it does. Median annual income in China still under $10k. In the US, more than triple that. More leveling to do. Labor is not the only cost involved in making steel or growing apples or whatever. But it is a major one and it's at the heart of why businesses have left the US for new homes overseas. Steel mills were not "stolen" by evil foreigners: they were shipped overseas by their owners and company shareholders so that they could make more money. Did you hear Tesla announced plans to cut 9% of its workforce this week? Too bad so sad for those workers, right? And TSLA share price went up almost 15% in a couple days. What does that say to you?
Quoting Botan626
{quote} Who they?

The "expert bears" haahahah look at that
Quoting Hareii
{quote} It is not how it works as you said. Cheap steel and aluminium (China is accused of dumping) from overseas will mean local steel mill cannot survive and has to shut. The number of steel mills today in US has gone down by a lot and I read that there are only about 5 major ones left and only ONE who can produce highest quality grade aluminium. (I may be wrong as I have not studied into the details) Do you think US can sustain a long war campaign with the current number of steel mills in the country? I don't know the answer. Trump probably know...
Only one thing Trumpie knows for sure and that he is fulling his pockets....Not sure where he think he is taking it

cant take any where he is going LOL

http://money.cnn.com/2017/06/19/news...ays/index.html
F.O. USA !!
Quoting UnBearybull
F.O. USA !!
And you sir!
  •  Guest
  • | IP XX.XXX.52.166
  • Story Stats
  • Posted: Jun 13, 2018 11:12am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 22  /  Views: 2,064
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