Geo-TH,In said: (quoted from post at 12:55:03 02/28/15) B&D
I don't think many understand we live in a global
economy. What is good for Canada is also good for
US. If a US company fails, there is a ripple
effect, other countries feel it too. Same with
world banks. The economy in one country can pull
others down. So what if US auto has invested in
Canada. US companies invest in any market they
think they can make money. So what?
Before the Olympics, China was buying US scrap
and we were loving the prices we were getting.
China is in a down turn, similar to our housing
bubble.
Everything is connected one way or another. No
pipelines, we use tankers to ship, them train
wrecks.
China is in a down turn. The outlook isn't as sunny over there as it was a few years ago. Maybe it's the pollution that's blocking out the sun, or maybe it's because they're only expected to have around 7% economic growth this year.
We should be so lucky to have a single year or even a single quarter with 7% growth in the US. It's been a looooong time since we've seen that figure. 4Q of 2014 we fell to a limp growth rate of 2.2% (seasonally adjusted annual rate). Combine that with a labor participation rate of around 63% and a $40 billion dollar trade deficit with the world each month. Let the almost meidocre times roll.
The current low price of our scrap steel might have a little to do with China's economy, but it has much more to do with a few massive iron ore companies flooding the market with (incredibly cheap) iron ore in an effort to destroy and purchase their smaller-sized competition for pennies on the dollar. Many other commodities used in steel making are at much lower prices then they've been in a while, too. China simply doesn't need our old garbage right now, unless they can get it for nothing. Our west coast dock issues are another added hassle. China doesn't need our junk when they can get (at least some of the) raw materials that will end up making the same goods at a lower price elsewhere.
I'm all for the Canadians having good jobs. I'm all for the US having good jobs. I've had no problems with Canadian goods or services that I can recall. I don't have any issues with Canadians building parts for, or assembling a vehicle I drive. I sure don't have any problems with the Canadian people.
Legal deception on parts and manufacture of a vehicle is still deception.
AG
This post was edited by AG in IN at 08:11:52 02/28/15 2 times.
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