Liberty on Tap since 1984
In his speech to accept the Democratic nomination, President Obama said his policies would create a million new manufacturing jobs if he is reelected.
It took a bit of digging to find a legitimate reference to the incident noted below, which was not reported on the major networks, and only in passing on Fox News. It demonstrates how the ideology of the President and Washington Democrats are crushing the economy. The reference was found in a published article by James R.Hagerty in the Wall Street Journal on June 20, 2010, U.S.Ex-Im Bank Reconsiders India Coal.
In 2010, the US Import-Export bank denied loan guarantees, which a Milwaukee firm needed to manufacture mining equipment to India. This effectively scuttled $600M in sales and up to 1000 jobs. The reason was that the equipment would be used to mine coal, which India uses to generate 50% of its electricity (In the US, the figure is closer to 80%) along with carbon dioxide emissions. The bank later backed off, just in time for a visit from the President, following loud complaints from both Democrats and Republicans in Wisconsin. span style="color: #0000ff;">http://online.wsj.com/article/SB10001424052748704334604575338791530...>
I suspect that the President claimed another 1000 jobs saved due to his belated action.
This leaves in question: Just what sort of manufacturing is acceptable to the President? You can't build Boeing jets in South Carolina because the Seattle unions object. Yet despite Obama and his union thugs, Boeing prevailed in a non-union state. Aviation history was made on April 27 of this year when the first Boeing South Carolina-built 787 Dreamliner rolled out of the North Charleston production facility. www.youtube.com/watch?v=ILGtXWpfMLE span style="color: #0000ff;">http://www.youtube.com/watch?v=ILGtXWpfMLE>
You can't build guitars, because they use "endangered" woods, imported with full permission from the Indian government, but adjudged illegal by a US agency as they interpret foreign law. To make this point, you send in twenty or so US Marshals, armed to the teeth, to shut down the factory, confiscate goods, and arrest the clerk responsible for managing the inventory of these woods.
As reported on Aug. 7 of this year, "Nashville-based Gibson agreed to pay a $300,000 penalty, forfeit claims to about $262,000 worth of wood seized by the federal agents in an armed 2011 raid and contribute $50,000 to the National Fish and Wildlife Foundation to promote the conservation of protected tree species.' This is not a confession of guilt, rather an economic decision, faced with the deep (public) pockets of the government prosecutors.
According to Gibson's CEO Henry Juszkiewicz, "We felt compelled to settle as the costs of proving our case at trial would have cost millions of dollars and taken a very long time to resolve. This allows us to get back to the business of making guitars." http:// /span>http://reason.com/blog/2012/08/07/gibson-guitar-settles-federal-cas...> reason.com/blog/2012/08/07/gibson-guitar-settles-federal-case-that span style="color: #0000ff;">http://reason.com/blog/2012/08/07/gibson-guitar-settles-federal-cas...>
You can't compete with China making solar panels, who can make them for 1/3rd the cost. Solyndra-manufactured solar panel was heralded by President Obama. Nearly half a billion of taxpayer dollars was pumped into Solyndra to 'create thousands of jobs,' only to result in the bankruptcy of Solyndra, the loss of taxpayer dollars, and jobs. Along with Solyndra five other U.S. solar panel makers went bankrupt, and at least six other American solar manufacturing companies suffered layoff and plant shutdowns over the past two years.
Cheaper-imported Chinese solar panels drove the domestic makers out of business in a practice calling dumping, not because the Chinese have an edge in labor or material costs, but because of Obama's failure to counter China's mercantilist trade policies. www.humanevents.com/2012/02/24/chinas-trade-war-bankrupted-solyndra/ span style="color: #0000ff;">http://www.humanevents.com/2012/02/24/chinas-trade-war-bankrupted-s...>
Of course, you can't build and export coal mining equipment, because that might result in "global warming"!
Might the money received through the trade of mining equipment override this nation's own distaste for coal by alarmists and the Obama administration, where stringent EPA regulations emission standards are mandated that even so-called clean-burning coal plants will not be able to meet even when in installing coal scrubbers, etc.?
Or might it be that those who manufacture mining equipment are not be duped by what has become the biggest hoax every played on the American people, that CO2 emission are causing man-made global? Although there are many published articles stating the same, "Anthropogenic Global Warming is the biggest hoax in Science," was published on 8/12/2012. www span style="color: #0000ff;">http://www.leagueofreason.co.uk/viewtopic.php?f=48&t=9777> .leagueofreason.co.uk/viewtopic.php?f=48&t=9777 span style="color: #0000ff;">http://www.leagueofreason.co.uk/viewtopic.php?f=48&t=9777>
China is the largest coal producer in the world, with about 45% of the world's total annual production, but 90% of the coal mining equipment used in China is produced domestically. In technology Chinese companies are still far behind in mining equipment production. In 2008 China was starting up a new coal powered generating facility every two weeks.
As a consequence, China is also the world's largest emitter of greenhouse gases (GHGs), responsible for over 20% of annual CO2 emissions from burning fossil fuels. Eighty percent of these emissions come from coal, and can be measured in the air over our western states. As such China welcomes foreign participation in the clean-coal sector, including investing in newer, cleaner technologies. http://www.gpo.gov/fdsys/pkg/FR-2011-06-07/pdf/2011-13921.pdf span style="color: #0000ff;">http://www.gpo.gov/fdsys/pkg/FR-2011-06-07/pdf/2011-13921.pdf>
That doesn't leave much in reserve, considering the current cults of "global warming," "green energy" and "social justice". Perhaps Obama's thought process and his dreams forecast a huge increase in the production of asphalt, in the Keynesian hope that dollars planted under roadbeds will sprout into money trees and rescue the economy. (Bottom-up economics exemplified.)?
On the bright side, Smith & Wesson reported a 22% increase in sales, in part because the President's anti-gun ideology combined with inaction on his part in fear of the electoral consequences. The president can rightly be dubbed as the top salesman of the year for Smith & Wesson. http://www.rttnews.com/1960960/smith-wesson-q1-profit-up-raises-fy1...
Smith & Wesson is a shining example of what can happen once the White House gets out of the way.
There's still time for change with Mitt Romney as president, as one who believe in free enterprise and not government to build the economy and create jobs.