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View Diary: President Obama wants Wall Street's money, but he needs working America's votes (274 comments)

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  •  they can try. (1+ / 0-)
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    Wolf10

    Several factors will stop them, though.

    First, the global economy is completely interlocked, and no country stands alone--or even can.  Everything we have in the US that weighs more than ten pounds, came from somewhere else. The constant flood of things we get from overseas makes our entire 21st century life possible--without it, our current economic lifestyle would be completely impossible. We'd live like North Korea.

    Second, nations are now so tightly connected into a global whole that having a single country withdraw from it can no more easily be done than California or New York can withdraw from the United States. The economic and political ties are now so close that it's virtually impossible to break them.

    And third, any effort by any country to withdraw from the global economic structure would provoke the instant and venomous opposition of all its global industries and multinational companies. If the US were to try to withdraw from WTO, for instance, every Fortune 500 company located here would instantly use every available weapon to stop it. And I don't think I need to remind everyone who dominates our governmental processes.  So it simply will not ever happen. Indeed, when Obama innocently (and naively) tried to insert a "buy American" provision into the stimulus bill, it brought instant opposition from virtually every American corporation--they didn't WANT a "buy American" policy, and they ultimately were successful in defeating it.

    The very idea of "national economies" is an outdated outmoded relic of 20th century thinking.  There are no more national economies. The world economy is no longer made up of nation-states---it's made up of huge multinational corporations that are larger, richer and more powerful than any national government, and who belong to no nation, owe loyalty to no country, and are controlled by no state.

    The 20th century world of independent national economies is gone. We can no more return to it than we can return to an agrarian pastoral economy or a hunter/gatherer society.

    Please note that I am merely describing reality--I'm not agreeing with it.  Reality is what it is, though--whether I like it or not.

    •  Are the UK and Germany not members? (0+ / 0-)

      Because both of those nations inserted language in their stimulus bills requiring domestic suppliers and production.

      I suppose the WTO punished them severely?  No, Obama never tried to insert Buy American provisions in the US stimulus bill.  Had he been wise enough to do so, he would not have been punished by the WTO.

      And if US corporations don't like buy American, they should go elsewhere.  They bitched and complained during WWII about having to switch to defense production.  FDR told them to STFU and they survived.

      Its not a bright President who allows US corporations to bully him or believes their threats.

      "My father always told me that all businessmen were sons of bitches, but I never believed it until now." - JFK during the 1962 Steel Crisis

      by Betty Pinson on Sun Jun 26, 2011 at 09:39:43 PM PDT

      [ Parent ]

      •  (sigh) (0+ / 0-)
        No, Obama never tried to insert Buy American provisions in the US stimulus bill.  

        Please come back when you know what you're talking about:

        “SEC. 1605. USE OF AMERICAN IRON, STEEL AND MANUFACTURED GOODS.

        (a) None of the funds appropriated or otherwise made available by this Act may be used for a project for the construction, alteration, maintenance or repair of a public building or public work unless all of the iron, steel and manufactured goods used in the project are produced in the United States.

        (b) Subsection (a) shall not apply in any case or category of cases in which the head of the federal department or agency involved finds that—

        (1) applying subsection (a) would be inconsistent with the public interest;

        (2) iron, steel and the relevant manufactured goods are not produced in the United States in sufficient and reasonably available quantities and of a satisfactory quality; or

        (3) inclusion of iron, steel and manufactured goods produced in the United States will increase the cost of the overall project by more than 25%.

        (c) If the head of a federal department or agency determines that it is necessary to waive the application of subsection (a) based on a finding under subsection (b), the head of the department or agency shall publish in the Federal Register a detailed written justification as to why the provision is being waived.

        (d) This section shall be applied in a manner consistent with United States obligations under international agreements.”

        That last section was introduced at the behest of the American corporations, who objected to anything that would undermine the WTO agreements.

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