Daily Kos

America: The Going Out Of Business Sale

Sat Feb 25, 2006 at 11:28:30 PM PDT

This past week, we've seen an uproar over a UAE Company, Dubai Ports World, buying out P&O, a British company, which owns parts of as many as 23 ports in the US.

There have been questions brought up as to why the Bush Crime Family is allowing our ports be bought by a Kingdom which partook in the financing of Al Qaida and the attacks on this country on September 11, 2001.

...more below!

Although I'm not horribly bothered that the fear factor these bandits who run our government have used so effectively to win elections, is being used against them on this ports deal; I just think a much larger issue is being missed here by Democrats and Progressives.

Why are these ports even being sold to any foreign corporations, or corporations in general?

The Bush government can only pay for about 70% of it's daily expenditures. That means roughly 30% of what it takes to keep the government running is borrowed money. It's debt. A debt that other countries are buying.

But what are these countries doing with our debt? They are using it to buy up American assets. What good is a government note, when you can trade that in for actual assets, with higher returns?

A little mentioned fact is that Communist China owns a shit load of our US ports also. Hell, China is a country that has actually threatened to use nuclear weapons against us.

This country is going broke, and we are liquidating our assets to pay off debt. We can't continue to run our government on borrowed money. We definitely can't continue selling off our assets to pay down parts of our debt.

National Security is a concern when it comes to this DP World port deal. The security of our nation's assets is at stake. On top of that, American tax payers are footing the bill for security on these foreign owned ports, while these multinational corporations take those profits back home. They avoid expenditures and reap rewards.

I would argue that US Ports should be a part of the commons. If "we the people" are paying for their security, then we the people should be the beneficiaries of that investment, not foreign countries and kingdoms.

Security concerns are just the tip of the iceberg when it comes to this port deal. The fact that our budget deficit is so out of control, and that so many countries own such a large portion of our debt, is the real crime that is occurring here. They have all of these US "Markers," and they are calling them in on the things that this country needs to maintain it's sovereignty.

The budget crisis coupled with the trade deficit, is the true national security breach to worry about. We can't continue to privatize the entire country, and then sell off the country to pay for our overspending.

This is the real issue when it comes to the port deals. Progressives and Democrats have a phenomenal opportunity right now, with the majority of the country in agreement that this port deal is bad, to not play so much on the fears that have been instilled on the American public, but rather to focus this argument on a variety of conservative policies that have deteriorated the standard of living for the majority of working class Americans.

Free trade = good paying jobs gone over seas.

Tax cuts for the rich = enormous debt for the country.

Privatization = US assets being sold to foreign companies.

Ownership society = Other countries reaping rewards of our investments.

Conservative Economics = Debt for our children, grandchildren, and their children.

This port deal has the attention of the masses. It just needs to be used to attack the entire conservative agenda.

This my friends, should be the battle plan going into the '06 and '08 elections.

Poll

Should Our Ports Be Sold To Any Country?

3%2 votes
8%5 votes
87%49 votes
0%0 votes
0%0 votes

| 56 votes | Vote | Results

Tags: budget deficit, debt, free trade, ports, conservative agenda (all tags) :: Previous Tag Versions

Permalink | 28 comments

  •  Tips... (4.00 / 8)

    should be part of the commons too.

    Viewing the world through my Kos tinted lenses.

    by The 1n Only Leoni on Sat Feb 25, 2006 at 11:28:31 PM PDT

  •  You nailed it - this is THE CRUX. (4.00 / 3)

    Thank you, thank you, thank you!
    Well done, well said, recommended.

    "In all chaos there is a cosmos, in all disorder, a secret order." Carl Jung

    by Unduna on Sat Feb 25, 2006 at 11:45:41 PM PDT

  •  USA is an empty husk (4.00 / 2)

    sold off to benefit the already rich at the expense of the rest of the nation.

    There is but one way to save ourselves from the coming crisis and that is to revolt against corporate rule.

    Deny them our labor and don't pay their ursurous debts. Then 'nationalize' everything and start all over again after we slam our borders shut.

    All economies are local.

    Brilliant post, recommend!

    Parties divide, movements unite.

    by Gegner on Sat Feb 25, 2006 at 11:46:12 PM PDT

    •  We do need an awakening... (none / 1)

      followed by a revolt against the corrupting powers that be.

      When it boils down to what truly matters, 80% of we the people, agree on the above. Red, Blue and Purple.

      It's only the very few economic royalists that hate democracy and forward this corporatist conservative agenda.

      Viewing the world through my Kos tinted lenses.

      by The 1n Only Leoni on Sun Feb 26, 2006 at 12:12:06 AM PDT

      [ Parent ]

    •  Yes (none / 1)

      Let the Coast Guard protect them. Our servicemen and women can do the job better than any  corporation or terrorist supporting government. Libertarians be damned.

      A small group of thoughtful people could change the world. Indeed, it's the only thing that ever has. - Margaret Mead

      by Tux on Sun Feb 26, 2006 at 12:44:33 AM PDT

      [ Parent ]

  •  Yep... (none / 1)

    I'm wondering what existing reasons there might be for the Dems not to hit hard on this issue; are there any? I can understand (though not support) their less-than-united effort not to rock the campaign financing issue too much...they have their own elections to worry about. But this? Is there any reason why they shouldn't take 'em out on this one?

    Great diary...thanks.

  •  How dare you?! (none / 1)

    Her Holiness Ayn Rand will judge you and condemn your soul to Social Hell to converse with Karl Marx for eternity! The Great Scriptures can free you from such torment thus read and act faithfully to those that mastered such divine wisdom. Otherwise, the Commie Man will take your guns and Bibles.

    A small group of thoughtful people could change the world. Indeed, it's the only thing that ever has. - Margaret Mead

    by Tux on Sun Feb 26, 2006 at 12:43:15 AM PDT

    •  Ayn Rand... (none / 0)

      Ayn Rand and her followers I have much respect for. They are the only group of conservative thinkers that don't hide behind bull shit and disguises, when they argue their objectivist point of view.

      They will flatly tell you they don't support democracy. They feel that outside of police, military, and courts (which enforce contracts), that government should have no other role in governing.

      For Ayn Rand and her loyalists, it's all about utopian regulation free market that will correct itself and darwinistically reward those who work hardest to achieve.

      But at least they are upfront. The entire conservative movement is rooted in the teaching of Ayn Rand.

      Viewing the world through my Kos tinted lenses.

      by The 1n Only Leoni on Sun Feb 26, 2006 at 01:05:23 AM PDT

      [ Parent ]

      •  utopias are dangerous (4.00 / 3)

        The Rand cult seems nutty to me.

        It's odd that right wing Christian conservatives are in a coalition with extreme atheists like the objectivists. Jesus certainly didn't preach that greed is good.

        •  The right wing Christian's (none / 1)

          are being taken for a long ride. These two factions meet in the middle with their "Father knows best" approach to governance.

          The religious folk want "the man" to regulate behavior. Corporatists look at "Daddy" as being the unregulated free market, where the stern father types will rise to the top.

          The religious right has been sold on the idea that you deserve what you get. If you're impoverished, then you made the decisions that led you to be that way. God's way would have brought you the comfort you seek.

          It's a pretty twisted form of Corparishtian/Christaration. (If either of these words get legs, I want creds!)

          Viewing the world through my Kos tinted lenses.

          by The 1n Only Leoni on Sun Feb 26, 2006 at 01:26:53 AM PDT

          [ Parent ]

  •  Not simple (4.00 / 2)

    I share a lot of the same concerns, but this deal isn't that simple. One of the other things that may ride on this deal is a huge aircraft order placed by the UAE (same guy who owns Dubai Ports, I think) with Boeing ($10B) and GE($2B) for something like 42 777s with a possible addl 20 777s over the next 3or 4 years. That also represents a lot of American jobs.

    I honestly don't know what position I'd take on it. On the one hand, I think the security concerns are real and deserve careful review. I'm also not that thrilled with Boeing (even though I live in WA and am a former stockholder), given their theft of a competitor's information, shady dealings with the Air Force on tanker leasing, and other stuff. But, one more time, a lot of Boeing employess may suffer if the UAE retaliates by switching the order to Airbus, as well as the impact on the trade deficit.

    Trading off potential security concerns and things like US ownership vs. the potential loss of US jobs and exports is a difficult thing to analyze.

    Just another example of how the Bush administration can really fuck things up.

    I have my fears, but they do not have me - Peter Gabriel

    by badger on Sun Feb 26, 2006 at 12:44:48 AM PDT

    •  Yup. Tricky, tricky, tricky. (none / 1)

      But the discussion is here, it needs to happen in a conscious, controlled fashion, and it could be productive as hell.  We'll see.

      "In all chaos there is a cosmos, in all disorder, a secret order." Carl Jung

      by Unduna on Sun Feb 26, 2006 at 12:59:19 AM PDT

      [ Parent ]

    •  The business of America is business... (none / 0)

      case closed, until one of the terminals that is managed by DPW or any other foriegn entity is the port of entry for a real WMD.

      All logic, reason, and pragmatism go out the window then. Hypernationalism will become the order of the day, week, month, year, decade, and century.

      Boeing will soon diversify into the same work that Lockheed Martin and other military contractors; their real expertise is in managing large projects. Building planes just happens to be what they have done historically.

      But Bush truly has given everyone a tough row to hoe.

      People in Eurasia on the brink of oppression: I hope it's gonna be alright... Pet Shop Boys: Introspective

      by rgilly on Sun Feb 26, 2006 at 05:00:38 AM PDT

      [ Parent ]

  •  My theory was (none / 1)

    that in return for not cashing out their stock and T-Bill portfolios, this was a sort of a barter deal where no money actually changed hands. In fact, that's the point of it, isn't it? Worthless paper buys cash-flow: amortization period? Centuries, yes, but cash now is better than jam tomorrow.

    Bob Dylan's pocketful of mumbles leaps to mind as a metaphor for what you-all have been buying.

    I then came to wonder what Chinese, erm, investors would get in return for making an effort to keep Mr Mickey MacMarket on an even keel.

    QED. Most will prefer the Euro.

    Thank you for your Diary.

  •  Not just the ports (none / 1)

    It's not just the 21 NOT 6 ports. Here locally the Indiana Toll Road is going to be leased for 75 years to a foreign company, that was the brain child of Mitch "The President asked me to run for Governor" Daniels.  

    What else is up for sale that we don't know about?  

    DITCH MITCH-Republican "Bush Buddy" Governor of Indiana

    by libnewsie on Sun Feb 26, 2006 at 01:57:47 AM PDT

    •  say what? (4.00 / 2)

      "the Indiana Toll Road is going to be leased for 75 years to a foreign company"...
      Really? IS this happening all over?
      I thought road tolls were to pay for road improvements for us all, not just for someone to get rich off of... Geez- I musta been naive or something. yikes. hmmm. found a place where they were discussing this
      The Indiana Toll Road might get sold as part of a massive liquidation of state assets, Gov.-elect Mitch Daniels said Monday.
      "There is no plan" for selling the road, he said, but there might be one in the future.
      Selling the 157-mile highway and/or other assets could raise money for construction at the Port of Indiana in Portage and Gary/Chicago International Airport, he said.

      Wow- too late- it's a done deal with a Spanish/ Australian Consortium as the mystery buyer...according to Bloomberg:
      Governor Daniels of Indiana plans to use the $3.85 billion that he expects to receive from Australia's Macquarie Infrastructure Group and Cintra Concesiones de Infraestructuras de Transporte SA of Madrid, to improve and expand the state's highways. In theory, the state could do anything with the money.

      Thanks, libnewsie- I like to learn somethin' new everyday!

       

      "...yet didn't Mr Windrip speak beautifully about pure language, church attendance, low taxation, and the American flag?" Don't Let It Happen Here

      by nhwriter on Sun Feb 26, 2006 at 03:53:24 AM PDT

      [ Parent ]

      •  That's what I'm wondering (none / 0)

        That's what I'm wondering...IS IT going on everywhere or is this just a coincidence?  Are there other local deals going on that we just don't know about?

        DITCH MITCH-Republican "Bush Buddy" Governor of Indiana

        by libnewsie on Sun Feb 26, 2006 at 04:43:00 PM PDT

        [ Parent ]

      •  Do Anything with the money (none / 0)

        "In theory, the state could do anything with the money."  I've already heard talk from Republicans that the money could be used for "property tax relief".  Kind of like the give away the treasury deal that Bush did on a national scale.  

        DITCH MITCH-Republican "Bush Buddy" Governor of Indiana

        by libnewsie on Sun Feb 26, 2006 at 04:48:58 PM PDT

        [ Parent ]

  •  here's a crazy thought (none / 1)

    rather than sell the ports to DWP, have the US Government buy them, then issue tax cuts in the form of shares ikn the new US World Ports.  Hey, if Bush is going to give the country away, maybe it makes more sense to give it away to Americans?

    I am being facetious, but this might make clearer the copsts of the Bush tax cuts

    Those who can, do. Those who can do more, TEACH! If impeachment is off the table, so is democracy

    by teacherken on Sun Feb 26, 2006 at 06:01:47 AM PDT

  •  Missed your diary when it was "live" (none / 0)

    and found my way here from your comment on another story.

    But you're right of course.  An article in the Sunday Chicago Tribune correctly noted in its subhead that anxiety over outsourcing was driving a lot of the concern about ports.  Anyone who works in an offshorable business, as I do will hear that very reaction from his or her coworkers.

    Of course the Trib derides this as backward looking protectionism, but what else is new.  And, unfortunately, we'll face a terrific battle in trying to get the Democratic party, still too-beholden to corporate largesse to make this point.  Indeed, many hear at Daily Kos, including Kos himself, will describe themselves as free traders.

    Still, you're right to make the effort.  "Free Trade" must be pulled down from its pedestal before we get anywhere on this.

Permalink | 28 comments