Discuss Detroit Archives - Beginning January 2007 GM's Chief Economist testifies.... Previous Next
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Patrick
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Username: Patrick

Post Number: 4409
Registered: 10-2003
Posted on Thursday, May 10, 2007 - 10:34 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

WASHINGTON, May 9 /PRNewswire-USNewswire/ -- General Motors Chief Economist G. Mustafa Mohatarem told three Congressional committees at a unique tri-partite hearing today that the Government of Japan has deliberately weakened the yen to promote its exports at the expense of U.S. and other global manufacturers, providing billions of dollars in subsidies to Japanese automakers.

http://sev.prnewswire.com/auto /20070509/DCW03009052007-1.htm l
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3rdworldcity
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Username: 3rdworldcity

Post Number: 626
Registered: 01-2005
Posted on Thursday, May 10, 2007 - 11:20 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

What else is new?
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El_jimbo
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Username: El_jimbo

Post Number: 144
Registered: 12-2006
Posted on Thursday, May 10, 2007 - 11:22 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Perhaps this time we'll have a congress that will fight the japanese on these trade agreements.
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Gravitymachine
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Username: Gravitymachine

Post Number: 1640
Registered: 05-2005
Posted on Thursday, May 10, 2007 - 11:49 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

give em hell mustafa!
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Alexei289
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Username: Alexei289

Post Number: 1283
Registered: 11-2004
Posted on Thursday, May 10, 2007 - 12:13 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

... never going to change since its Japanese banks (Mitsubishi and a few others) that are buying american securities to the tune of 100-200 billion dollars per year to finance the government's yearly budget deficits. Without the Japanese banks... (and to an even larger extent the National Bank of China) inflation would currently be near 10-15% year over year.
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El_jimbo
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Username: El_jimbo

Post Number: 145
Registered: 12-2006
Posted on Thursday, May 10, 2007 - 12:32 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Alexei289,

well if foreign countries have us by the short ones to the extent that we CAN'T create good trade policy to help our companies than perhaps it is time for our government to get spending in check and actually shrink out national debt.
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Alexei289
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Username: Alexei289

Post Number: 1287
Registered: 11-2004
Posted on Thursday, May 10, 2007 - 12:41 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

politicians dont care... its not their debt anyway... as long as they stay elected.... take contributions, and split after a few years... they could give a rats ass. They personally have nothing at stake... their money is in offshore accounts.. and they would love to see the american economy suffer.. so they can take that money and buy up whatever they can when its cheap.
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Alexei289
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Username: Alexei289

Post Number: 1288
Registered: 11-2004
Posted on Thursday, May 10, 2007 - 12:54 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

to add to that... its simply human nature to be sociopathic. Nobody does anything for anyone for free... and nobody does anything for free without getting paid.

Until there are enough protectionist lobbiests who can pay big loot to politicians to change their mind.. nothing will change. The fact is, the people who have that kinda loot right now are making out big on the foreign trade issue... So as long as they make money their happy. The only time you will see those people change their minds and go WTF... is when their bank accounts start to suffer. Dont worry... the whole scheme is unraveling just like it did in the 20s. Unfortunatly, it will most likely be the american middle class that will take the final hit and be wiped out for good. When the smoke clears from the next depression (correction in economic terms), be prepared to see monopolies in every sector of the economy, from cell phones to autos.

You want to buy a chevy... it will be owned by toyota. You want a cell phone? It will be an ATT singualr. You want a computer? It will be a Chineese conglomerate. You want cable TV? Call comcast. You want a TV? You have the choice between Sony... and... Sony... and the only place to buy it at is Best Buy. You will bank at a Japanese bank (mitusibishi currently ownes something like 15% of the bank stock in this country already, when the price tanks they will be jumping on that shit like flies to terds).

Business that want to compete will be run out of business, and will be refused the capitol to do so.

BTW, this is how capitolism works in most countries... America is one of the lone exceptions. Most other developed countries in the world are socialist.

Atleast in Mexico... ya there is a monopoly for everything, but atleast its mexican companies that own it (thinking TElMex) Owned by Slim Helu.. the second richest man in the world.

The American future is going to foreign owned monopolies. The worst of everything...
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_sj_
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Username: _sj_

Post Number: 1821
Registered: 12-2003
Posted on Thursday, May 10, 2007 - 1:29 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Another excuse, what a surprise. I don't recall this being a problem in the 90s when the US aided Japan in devaluing the Yen.

Japan is not doing this for the hell of it, they are trying to revitalize their economy not create subsidies for Car Companies. For a number of reasons this tactic is failing.

But what the hell you got to place blame on someone other than yourself, that is the American way.
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Alexei289
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Username: Alexei289

Post Number: 1290
Registered: 11-2004
Posted on Friday, May 11, 2007 - 10:37 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

last time i checked... i dont see too many people doing anything outlandish. Its the american dream to own a nice house, maybe a boat, a reliable vehical, and send your kids to school.. and to be able to replace shit when it breaks.

My grandfather during the 70s could do that working as a lineman for Detroit edison. He owned a house in warren, a cottage in Marine city, a boat in the canal.. 2 cars.. had full medical benefits.. And my grandma who is currently 97, still gets 1,200 a month and full medical benefits.

Its not like they overspent.. my grandparents saved 25% of every paycheck without exception... they grew up during the depression. Currently my grandma has approximatly $525,000 in the bank, and her house is paid off. She doesnt know what to do with the money... and she still saves rubberbands from the mail because she will not waste anything. They even put my dad through school at Michigan State at the wage.

Back then, you could live the american dream by taking any decent respectable job out there.

Now, I see engineers whiping out credit cards right and left. Not to buy TVs.. Not to buy cars, Not to go on vacation...

BUT to buy Groceries, pay medical bills, pay the plumber when the pipe leaks...
And usually 2 people in the house work.

I dont think anyone is intending to live outside their means... Its just today your average job doesnt pay for the american dream.

Yes.. theres always exceptions to make examples out of... but I highly doubt that we have anywhere near the same standard of living that we had in the 70s. Your dollar doesnt mean squat nowdays.. And the credit companies and banks are just making a business out of filling the gap between what it costs to live, and what people are able to bring home.
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Goat
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Username: Goat

Post Number: 9417
Registered: 10-2003
Posted on Friday, May 11, 2007 - 1:53 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Good post sj. Notice how no one said squat when the Euro was overpowering a weaker U.S. dollar?

Japan's economy has only been in the shitter for over a decade why would they try and fix it? (sarcasm).

Alexi, it isn't that we can't pay for things it is that we have so much more we want then we did in the '70s and we can't pay for all the things we "need". Yet, we continue to buy on credit. I for one am guilty of it.


(Message edited by GOAT on May 11, 2007)

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