Government is unteachable: US Slaps duties on steel pipe from China. The only winner is inefficiency here. Manufacturers and consumers pay more, but for US Steel Corp and its fascist labor union, who can persist in overcharging and delaying cost cutting. Increasingly, the U.S. economy lives in a protected bubble, ever less tested by competition and ever less responsive to consumer choice.
Source link: http://archive.mises.org/11740/trade-barriers-the-next-step-to-entrench-recession/
Trade Barriers: The Next Step to Entrench Recession
Previous post: A Society of Criminals
Next post: Mr. Leibowitz, Tear Down This Firewall!
{ 12 comments }
Here we go again…..government exploiting people’s economic ignorance for politcal gain.
The Chinese government subsidizes the US consumer, at the cost of their own citizens, and they are still the bad guys.
Even Ben Stein got this one right.
It was he that wrote the dialog used in _Ferris Beuller’s Day Off_ where he stands there and asks, “Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression.”
Just how can anyone say with a straight face that a problem caused by too much government can be solved by more government?
Smoot–Hawley? Here we go again?
And here I was thinking there was some kind of rare economic consensus about the dangers of protectionism. Add this to the Chinese tire duties from a few months ago.
Hey, there are union votes to purchase and elections to be won. Do you think they care about the average Joe or the economy as a whole? Me neither.
Hey, there are union votes to purchase and elections to be won. Do you think they care about the average Joe or the economy as a whole? Me neither.
“Hey, there are union votes to purchase and elections to be won”
Perhaps Obama should visit Greece and/or Argentina so that he can get a preview of what is coming here.
“Perhaps Obama should visit Greece and/or Argentina so that he can get a preview of what is coming here.”
That’ll just give him a boner.
On the topic of pleasing the unions, here’s a funny comic from Mish’s blog.
http://tinyurl.com/y9f6923
Jeffrey, what do you mean, “US Steel Corp and its fascist labor union?” What you should have said is fascist US Steel and its fascist labor union.
As the pieces of the pie become fewer and the sizes of the pieces become smaller a frenzy will break out in a desperate attempt to get some pie before it is all gone!
Nobody has stopped to ask who stole the pie from the windowsill of all private citizens. The ego-driven interventionists push and shove and snort greedily over immorally obtained goods.
Sad to hear about the info that you share,Hope that both parties will have a nice agreement so that it will not cause a problem in the community as well as in the country and to other nations.
Comments on this entry are closed.