War With Canada Over Crack Cocaine in Obama's Stimulus Bill?
The $800+ billion stimulus package that's lumbering through the streets of Washington has, somewhere in its bowels, language that would require public works funded by the bill to use American-made materials. No big deal, right? Another way to help domestic businesses, right?
Sure, if you're high on the wacky dust…
Dallas Federal Reserve President Richard Fisher warned on Monday against "Buy America" provisions in a proposed fiscal stimulus law and said it could lead to devastating trade protectionism.
"Let me just be blunt. Protectionism is the crack cocaine of economics. It may provide a high. It's addictive and it leads to economic death," Fisher told C-Span television in an interview for its "Washington Journal" program.
Is Fisher being blunt, or is he smoking blunts? Well, for starters, the Canadians are already making vaguely threatening threats in re: this protectionism…
"These protectionist measures, in a time of recession, only make things worse," [Canadian] Trade Minister Stockwell Day told public broadcaster CBC, after returning from the World Economic Forum at the Swiss Alpine resort of Davos.
"It can only trigger retaliatory action and we don't want to go there," he said. "We do not want to see that happen."
Here is a tip for surviving the forthcoming Canadian hockey mob invasion: simply add the letter 'u' to words at random.
This foouls them every time.
GET OUUT!
Where would the US economy be if the rest of did the same and only bought domestically produced stuff?
sryuup?
I don't know about you, but I'm tired of world governments "cooperating". I'd like my government to represent my interests. We should only be trading with other democracies. Period. Instead of "Buy America" it should be "Buy Democracy". With China on the rise, the West should really stick together. At the same time, if the US stimulus money is spent abroad (even if only on democratically produced goods), that will dilute the effect here at home. I don't know what to think.
Tell Canada we have better sryuup in Vuermont.