« Nanny says: No dope, kids, and stay safe over there | Main | If you liked Lynndie England... »

This way, Mistah Schumer. Truck's waitin', Mistah Schumer.

By Michael J. Smith on Saturday September 9, 2006 11:45 PM

From J Alva Scruggs:
Sept. 6 (Bloomberg) -- U.S. Senator Charles Schumer is "very serious'' about forcing a vote this month on legislation to place punitive duties on all Chinese imports, his spokesman said.

"We need to see real results on the currency. We need real signs of progress,'' the New York Democrat said today, according to spokesman Eric Schultz."


Bull goose Democrats continue to think nativist pandering and know-nothing economics will help them, even when the Republicans have locked in that pitch and can offer the full crackpot monty.

Comments (7)


What are "punitive" duties? Is he talking about prison-made products, or just any products made at very low wages? It's a little late for that, Mr Schumer; you should have thought of that when your party signed on to the WTO.


Schumer's one chopstick short, as usual. Last March he was in China praising the glories of US-style democracy while pleading for us to be allowed to pay less for Chinese goods. Who says beggar superpowers can't be choosers?

Even if the dependencies are the result of a vicious neoliberalism, the US will need China for cheap goods and debt servicing for a long time to come--exactly as long as it refuses to save, live within its means, pay living wages to workers, etc. That makes the tariff threat somewhat wimpy, like a junky demanding smack at closeout prices.

Schumer's timing sucks, too. As the housing bubble collapses, threatening recession, there's the strong likelihood it will sweep away not only the equity spending (magic fountain, according to the LA Times, of so many Olive Garden dinners) but also a good share of the Bush-era jobs in construction, real estate and service industries. A 27.5% spike in retail prices would make the shindig even livelier.

Schumer's a bit out of step with the Donk pro-outsourcing agenda (signing on at times with grumpy ex-Reaganite Paul Craig Roberts). But if he needs someone to punish for our shaky fortunes, let him look to his own party's embrace of the market fundamentalism that has razed our manufacturing base and wiped out post-war income parity. This may not be the future they promised, but it's what they delivered.

js paine:

i see
capin' smiff
his stop the music barge
to drift over yellow seas

i guess just
for a kick or two

to my attack trained econ-con-nut
these are dangerous
waters indeed

don't u be messin with
my fuckin
international flows mistah jinx

but for those fool hardy enough
to plunge into em
without the capacity
even to do a decent dead man's float

here's a life saver

the schooom is pre empting here
for his hi fi
pre empting lest this issue run away on em all
into the out stretched arms of pat the buc

but short of a pitch fork and torch lite up risin'

what's at stake here ???

well simple

openning the now tightly held
PRC national hi finance system
to wall street

this protectionary threat
is a lewd quid
to get the proper quo back

now fans this is a real grapple
and far be it from me
to do more then throw a light on the stakes here

but one thing is clear
at no point
are the board room's
hired monkey men
going this
they are considering
the welfare
job holders here or there or anywhere

"surprise surprise "
as gomer pyle used to say

to count as
anything beyond
more or less useful
leggo pieces
is the usual fond delusion
of the hard working oaf
(vide the horse in
that sad sack brit's
famous fable animal farm
for a sadistic hyper example )

but for those who are

"mostly just wage geefs "
what ever happens here
noting long run will change

t'is still the case:

to be used
or not to be used
remains the question
the only question

and in this round of play
its clear

wall street will agree
to "trade away"
tons and tons more of our
great big amerikan industrial jobs

only if ....

get full access to china's
credit / capital streams

only if "they "
get to private "marketeer "
the prc's now state controled

good luck fellahs

js paine:

what a badly
untuned piano u play here

u play it well
and with wonderful vigor

but to
the shell pink
minutely haired
ear of a fully tutored ecocoo coo mind
like i possess
it jars some
and yet i agree with your politics completely
and that's what counts

here's a line of attack for you

i use when cornered
by foamy mouthed
polonians :

" i'm fairly tired of blaming our wage class for going on a five year borrowing binge "

are u ???

" if the poor wage eraning dopes
still had the social contract
operative till say 1973 ....."

" ya if they did then
maybe they'd
just pay for their goodies and trinkets
out of their higher wages "

" not as now borrow it
out of capital funds
formed from
un re-invested
corporate profits "

you gotta ask yourself

hey is it a society wide virtue
to lend back
expropriated money
to the very same expropriated ??

for that matter
is it a sin to borrow back
some of the value
u just produced ??

after all the silk hat " rule changes"
in how "we" play the great class game
around here
value produced
no longer finds itself
at the same ratio
in a geef's pay envelope


" i'm fairly tired of blaming our wage class for going on a five year borrowing binge "

are u ???

Oh, Wal-Mart America gets no grief from me for borrowing to fill the trunk with groceries, pay criminally high medical bills, clothe the kids, sign the alimony check, download some Internet porn. I wish they wouldn't blow so much at the megachurch, but what are you gonna do.

Now, across town, in the backlit addresses, McMansion America isn't exactly "borrow(ing) back/some of the value/(it) just produced." Not, anyway, through equity borrowing, even if padding the terrazzo with soft pink feet is a labor divine. Parasitically working the vein of its mortgage for bigger teevees and Humvees would be little of my concern were it not built on the premise of greater vampirism in driving up values, the better to bleed the saps below--the bubble's next marks, faced with $400k "starter" homes. Who pays for this speculative shuffle, with its skimming, flipping and promise of "home ATM" dispensing?

Pretty soon, after the mid-terms, Donks like Schumer will discover the threat to the American Dream posed by the collapsing bubble and begin pandering in earnest, making this week's currency demands on China prelude to worse mischief.

U agree, comrade pianist???

js paine:

agree completely

i love your idea of a donk home value rescue
like those Katrina kopters
rare and spectacular
golden anecdotes
like that home remake show
brought to u
not by sears
the Democratic party

to be precise what inflates here is the value of a lot
something with only
relative location and size
and yet the optimo elvis plate

best guess
in real terms
coastal area residential lots
need to come down 25-35%
very much like the dollar against south world currencies

over valued lots serve a profit purpose
of course

with the right to bankrupcy
one might call it
voluntary or moral debt peonage

how do trans nats benefit ???

the job and house holder units
offer more job hours
to corporate amerika
cause these unit's
are "experiencing"
bigger monthly debt service

sell more
of self's and loved ones' time
to drag the now heavier nut

and hey raising the rate means its got to be dragged faster too
neat stuff

biggerest debt
has two outcomes
jobholder bankrupcy
and more
and thus cheaper job hours

theres a corporate profit
sweet spot ratio
between the two
in there some where...

what a siren call that makes

as yet
its not been located
or at least
as yet
no board room consensus
on it's location

views and Rxs conflict
even diametrically so

"more easy debt"

" no no
more punative bankruptcy "

the debate lines are boldly drawn indeed

----now to put on my wonk cap
a mo -----

the quick donk new deal
way out
would be to treat
our jobster homes
like the first new deal treated family farms

" friends
these homes are amerika/s back bone
produce the nations
most sacred crops ..."

all our
task various /wage various
corporate job hours

to help
but still reward the dutiful and thrifty
we could
nationalize all residential mortgages
up to the the market value
of each and every amerikan house lot

and simultaneously
issue a stream of lot equity credits
usable against
a national George tax on ground rent (ie on lot value)

viola no more private rack rating and of course no more borrowing against lot value
and no more lot price
elvis plate /tulip manias either

our clever every reval ing
George tax
will EFFECTIVELY render all lots
of zero private value

hee hee hee
and i'll control it all
thru a bank of high speed computers

head start
the gub already owns a big chunk
thru fanny and fred


O, nicely foretold! Your grimly scathing vision is only too possible: Donks parading their New McDeal for 2008, socializing, as it were, the well-documented need for 5,000-sq foot homes, and promising to perform quadruple bypass surgery on the heart of mortgage darkness. Fanny and Fred are putting out a new financial Welcome Mat--for you!

All that remains is for Hillary McHomesaver to make her RFK-esque poverty tour shaking her head at the abundant devastation and misery. In Orange County.

Post a comment

Note also that comments with three or more links may be held for "moderation" -- a strange term to apply to the ghost in this blog's machine. Seems to be a hard-coded limitation of the blog software, unfortunately.


This page contains a single entry from the blog posted on Saturday September 9, 2006 11:45 PM.

The previous post in this blog was Nanny says: No dope, kids, and stay safe over there.

The next post in this blog is If you liked Lynndie England....

Many more can be found on the main index page or by looking through the archives.

Creative Commons License

This weblog is licensed under a Creative Commons License.
Powered by
Movable Type 3.31