US trade gap a sign of growing economy: Snow

[Robert Oak]

"The trade gap reflects two things: that our economy is growing at a fast pace and we are growing faster than our trading partners," Snow told reporters.

http://story.news.yahoo.com/news?tmpl=story&cid=1519&ncid=749&e=6&u=/afp/20050112/bs_afp/useconomytradesnow

This guy is psychotic! I posted this story for it's a great example
of Repuke propaganda....there is NO WAY we're growing faster than
anybody with a trade deficit like that, it's the opposite, but
these guys are so brazen, any bad news and they come out and just lie
and turn it to something else.

If Rome was burning around them they would claim it was only the glow of God people were seeing.

[Spazito]

1. ROFL! Man, where does this guy live??? His alternate reality....

is beyond belief!

[wildmanj]

2. growing

what a crock of shit

[zbdent]

3. I'd say that it's a sign of the weaker dollar

imported goods cost more; exported goods are pulling in less.

Now, when the dollar is strong, we get dumped on.

[Tansy_Gold]

13. Not only do imported goods cost more, but

we have to buy them because we no longer make anything ourselves!


what a fucking moron. oops, he's a puke. so i repeat myself.




Tansy Gold

[AllyCat]

4. War is peace, diseased is healthy,

poor is rich...what's the problem?

[Ganja Ninja]

5. It's a sign of a growing economy in China.

He's just got his countries mixed up.

[Bush_Eats_Beef]

6. Snow said the following in June 2004:

http://www.treas.gov/press/releases/js1709.htm



FROM THE OFFICE OF PUBLIC AFFAIRS

June 3, 2004
JS-1709

The Honorable John W. Snow
Secretary of the Treasury
Prepared Opening Remarks
Roundtable with Small Business Leaders at Copy Systems, Inc
Little Rock, Arkansas
June 3, 2004

It’s great to be here in Arkansas, and great to be here at Copy Systems. Mary Jane, thank you for hosting this roundtable and thanks to all of you here today for the work you do, as business owners, to create jobs for the people of Arkansas.

I hope that all of your businesses are doing better today than a year ago; I know our economy overall certainly is, and that we have your hard work to thank for that.

Each of you are one of nearly 200,000 business taxpayers here in Arkansas who can use your tax savings from the President’s tax cuts to invest in new equipment, hire additional workers, and increase pay.

There is a reason why the President’s tax cuts focused on helping your businesses – because we understand that its businesses like yours that create jobs, and that is the President’s top economic priority.

The President and I share a passion for small business – we know that it’s what makes our economy so dynamic, innovative and productive. We appreciate how important the entrepreneurial spirit is to this great country.

We’re also keenly aware of the challenges you face. I imagine that today we’ll talk about the cost of health care, taxes, regulations and abusive lawsuits. These are all a drag on your business, and a disincentive for growth and job creation.

It’s clear that only with great freedom can the entrepreneurial spirit thrive. That’s why the President and I are so strongly in favor of tax cuts. We know we’ve got to lift the burden of taxes, regulations, health care costs and abusive lawsuits from your shoulders whenever possible – because what’s good for you and your business is good for our economy.

We’ve seen it work with the President’s tax cuts – when the burden was lightened, our economy began to soar.

Just a few weeks ago, I had a discussion with my counterpart from the UK, Chancellor Gordon Brown, and a group of British and American business owners on the subject of entrepreneurship. We asked them: what makes entrepreneurship work and what can government do to ensure it is welcomed and encouraged?

The conclusion we came to will not be a surprise to you: the best thing government can do for small business and entrepreneurship is to get out of the way! We took some taxes out of your way, and I’m delighted to say that it worked; our economy is firing on all cylinders right now. We’re experiencing very strong growth – the best in 20 years – and 1.1 million jobs have been created over the past eight months.

Here in Arkansas, jobs having been coming back for one year now, since last June. Your unemployment rate has been trending downward, but we’re not satisfied. Arkansans need jobs; we need to lower that rate even further.

Manufacturing jobs are very important to this state, and those jobs were hardest hit during our time of economic recession. We’ve seen modest gains in that area on a national basis since we’ve been in economic recovery, with 21,000 new manufacturing jobs created in April – the third straight month of job creation. While we still are not satisfied with the rate of recovery in the manufacturing industry, the signs are pointing in a positive direction.

I remain optimistic for Arkansans who are looking for work today. There is no doubt that our economy is doing very well, and job creation does follow economic growth. It’s never fast enough for any of us, but it does come.

In addition to the strong GDP growth that I mentioned earlier, we also see indications that business spending has rebounded. Business and consumer confidence are up, and there are signs that labor market is also beginning to create better-paying jobs. Our housing industry is extremely strong, with homeownership at an all-time high, and this is something to be very proud of, as a nation.

It’s clear that American families and small businesses like yours have benefited from the lowered burden of taxation brought about by President Bush’s tax cuts. The natural strength and resilience of our free-market economy has proven itself once again. The President's tax cuts provided the relief and the stimulus that American consumers and job-creators needed.

As a result, people are finding jobs and seeing their paychecks increase, and that kind of security is the President's top economic priority

When we lift the weights that hold it down, our economy soars. That’s why the most important thing we can do going forward is to keep it unencumbered by making the President’s tax cuts permanent.

We can’t stop our progress now – the working people of Arkansas need this growth to continue, because we need the jobs it will create.

Thank you for having me here today and thank you for the work you do to make our economy the strongest in the world. I look forward to hearing from you.

[Robert Oak]

15. somebody needs to go the these states

& give econ 101 to them in plain english.

Snow is obviously the master of snow...

they're sending their jobs overseas PLUS bringing in illegal immigrants to work below minimum wage into their state...double whammy, yet
these people voted for these guy in droves.

They don't have a clue about economics, taxes or anything so these
lies just land softly like "Snow Flakes" covering up the ugly truth.

[Occulus]

30. One must wonder....

I performed abysmally in the one econ class I took, and I know these policies are bad. It... almost... makes me think that these policies are being put in place a-purpose.

[Career Prole]

7. "we are growing faster than our trading partners," Snow told reporters."

Another warning to the Europeans!
Snow went on a tour of Europe telling all comers that the problem with the American dollar was that European leaders weren't "growing their economies" fast enough and he specifically mentioned labor and pensions.

Snow intends to let the dollar fall until Europe pledges to squeeze its workers like we squeeze ours.
He is trying to spread the disease. He wants the whole world to be "China-fied".

[mojavekid]

36. Spot on Career Prole

* is working the Europeans very hard on that point. Let's hope they can hold out until * is taken down.

[Career Prole]

38. I hope they stand up better than we did.

Hey...and welcome to DU! :hi:

[GOPBasher]

8. The deficit is also a sign of a good economy.

And so are the exploding education and health care costs. :eyes:

[ProfessorGAC]

9. Sigh!

A theoretical mistake of massive proportion. This guy has polaroids of someone to have gotten this job. My dog knows more about economics than this buffoon.
The Professor

[Demeter]

10. That's Growth Through the Looking Glass, Friends

The Newspeak of 1984: Deficits are Growth, Poverty is Growth, Unemployment is Growth, etc, etc.

[FormerDittoHead]

11. Why NOT peddle this BS? The MSM doesn't call them on it...

...or even entertain an 'alternative' perspective most of the time.

The "fairness" of the media today (when it's even TRYING) is to give "equal coverage", giving this BS the same respect and time as the truth, rather than "fair" coverage, which would *start* by ridiculing this ignoramus and then HAMMERING how STUPID it is.

So, if they can get away with it, why NOT say the black is white and pigs live in trees?

Dr. Ryder, where are you? (my college eco professor)...

[ashmanonar]

28. i don't even understand "equal time provisions"...

unless it's opinion, then they can spout all the bs they want...but news is supposed to be ACCURATE and TRUE...not equally balanced with someone's version of the truth...

equal time is a crock of shit.

[FormerDittoHead]

35. "Equal Time" went out with Reagan, however...

To acknowledge we know what we're all talking about, they don't have to give "equal time" as they used to have to, but instead, they use it as a tool for giving the IMPRESSION of being "balanced"...

Your conclusion is absolutely correct.

[ashmanonar]

37. yea

i forgot about equal time going under during reagan's terms...

but you're right, they do use it as a tool or technique to fool people into thinking they're "balanced".

[74dodgedart]

12. If we aren't producing anything that anyone is buying, how are we growing

If we are producing less than we are buying form overseaes (hence a trade deficit) how does that equate to a growing economy ?

[djack23]

14. It is unsustainable

It is simply unsustainable to contine with such a huge trade deficit. The growing trade deficit coupled with a growing budget deficit will mean a declining dollar for years to come.

David

[Cocoa]

16. it shows the Chinese manufacturers are desperate

as we head toward elections, or whatever.

[Nordmadr]

17. Wow

I would fire his ass if he was a salesman. Let me see, our trade deficit grows and it is because our economy is GROWING? Maybe we are just putting ourselves MORE in debt because we still need the goods that we don't happen to produced anymore? The only reason this situation continues, for the time being, to work, is because we buy all of our goods from the Asian countries that foot the bill on our debt. If they stop propping us up, the ywill go down the tubes too. That's a nice Catch: 22 if I ever heard of one.

[w4rma]

18. Insane. (nt)

[TahitiNut]

19. In one way, this could make sense for the "ownership base."

Domestic corporations off-shore their labor but narrowly privatize their profits. In effect, this converts "American" business to brokerage (middleman) operations. When foreign interests "buy" American goods, the dollars flow into the coffers of the brokerages and, after extracting huge 'profits.' flow immediately to some cheap labor country with whom oligarchical agreements exist. Thus, a huge portion of the 'trade' on the credit side is offset by off-shoring. The domestic spending on goods and services is clear: our domestic production capacity has been obliterated, leaving domestic consumers with nowhere to go except off-shore. The "top 1%" wallow in their own slice of the pie, while the "bottom 90%" get screwed.

Snow only knows the "top 1%" ... and that's all he cares about.

[tom_paine]

20. The Orwellian Lunacy of the Busheviks who rule us is astonishing

Joe Stalin himself couldn't have said it better.

"I am bleeding in several places, making me the VICTOR of the fight."

:crazy: :silly:

[Redstone]

22. Hey, why not?

War is Peace.

Lies are Truth.

Move along now, people, nothing more to see here.

Redstone

[durablend]

21. "US trade gap a sign of growing bullsh*t from Snow"

More like it?

[warrens]

23. This is the mark of the Bushies

They lie with a straight face and have no shame at all. The rising deficit is a result of overdependence on imported products after we trashed our domestic industries. WestPoint Stevens just laid off a stack o workers, because we are pretty much out of the textile industry, meaning all those towels and sheets and stuff you buy are made overseas. They used to be made in the Carolinas and Georgia. About the only significant U.S. mfr. left is Dundee.

We import now not because prices are lower, but because there is no domestic source.

[MGKrebs]

24. "only the glow of God"? :chuckle:

[Massachusetts]

25. A True Indication

The BAGS under his eyes are a true indication that Snow Job stays up late at night thinking this gibberish up.:bounce: :silly: :crazy:

[LynnTheDem]

26. You MUST be kidding...! It's a real article...my gawd! LOL!!!

I thought this was satire, LOL!!!

[Sandpiper]

27. And War is Peace, Slavery is Freedom, and Ignorance is Strength

Thank you Comrade Snow for clarifying the economic situation for us.

And remember everyone, we have always been at war with Eurasia!

[brokensymmetry]

29. Growing into oblivion.

I wonder what happens to a people who produce...nothing.

Try to buy something - anything! - that is made in the U.S.A.

We are, more and more, Eloi in a world filled with Morlocks. And the Morlocks are hungry.

[Nordmadr]

34. Just curious

I checked all of the tags for the clothes I was wearing...none U.S. made.

[brokensymmetry]

48. Wait for the new WTO rules to go into place.

The textile industry in the U.S. will die.

And, in 2007, the first Chinese cars will enter the U.S. Supposedly, they'll have the quality of a Lexus for 30% less. So, say goodbye to GM, Ford, and Chrysler.

So that means that those companies won't be able to cover their pension obligations. Which will then be dumped on the Pension Benefit Guarantee Corp. Which will fail...requiring taxpayer bailout...

Ah, yes, the joy of outsourcing. Bankrupting ourselves one purchase at a time. Or, if one prefers, one can call it death by a million cuts.

[WannaJumpMyScooter]

31. Well, condiser that he is probably working for the Chinese

then the statement makes sense.

[Pallas180]

32. My Gawd - this guy Snow fell down Alice In Wonderland's rabbit

hole - up is down and down is up.

Growing deficit is sign of a good economy?

They actually think everybody outside of Washington DC is stupid.

They adhere to Goebbel's motto. The bigger the lie and the more often
repeated, the more it will be believed.

[PittPoliSci]

33. in other news: Crack no longer harmful to humans

[Megahurtz]

39. What a liar!

Yeah right! Maybe in HIS bank!:puke:

[naderzenithnow]

40. Yet another catastrophic success?

[74dodgedart]

41. And High Credit Card bill = Sign of financial success

[OhioChick]

42. Thought this was a joke, at first......

Whose economy is he talking about???

[sweetheart]

43. My dog crapped in the yard... evidence of the economy growing

The dog crap represents food made by industry and the growing
consumption of dog food, job creation and housing for people involved
with pets.

;-)

Its no accident they call it a "snow job".

[SemperEadem]

44. Don't we have a record deficit right now in trade?

China's cleaning our clock...

[Vidar]

45. "What was 4 is 3. What was 3 is 2 . What was 2 is 1.

What was 1 is nothing. Now one more time for those of us on drugs"

[pinniped]

46. These assclowns have been smoking crack since day 1.

I hope they print this shit in my morning paper so I can save it in my archives.

[NuttyFluffers]

47. it is classic, isn't it?

perhaps i can inscribe it on a gigantic 3 ton marble block and drop it on fools who voted for bush twice and then tell me the economy isn't so hot.

...... reality so far oustrips fiction here it's beyond comprehension.