Buy American

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Oct 20, 2009 1:30 pm

As financial advisors, we can help educate our clients.

 
To rebuild America, I advocate:
 
1. Voting the socialist bums out (of course).
2. Promoting free trade, capitalism, less government.
 
At the same time, I hope more Americans choose to buy less stuff (stuff here costs more, and the dollar is declining) - and more things that are made in America.
 
Better food, better entertainment, better stuff - because it's made in America.
 
I'm just wondering if anyone else feels strongly that we can be pro capitalism, pro free trade, anti union, anti big government, and pro made in America. Why not?
 
Eliminate corporate taxes, cut payroll taxes, cut government, encourage investment in America and buy American.
Oct 20, 2009 2:14 pm

Start making american products better..

Oct 20, 2009 2:15 pm

The auto industry is a great example.. People who didnt' graduate highschool making $90K a year doing nothing(They didn't even put the parts on at the end, the computer did) and still no quality american cars.

Oct 20, 2009 3:13 pm

It's a global world now.  Tough to put the cap back on the bottle.

 
You ever look at how much international business most "U.S." companies do?  I am all for capitalism, free-trade, anti-big government, etc.  But I think the days of "Buy American" are over.  When I found out 10 eyars ago that my "American Made" Saturn car had an engine built by Honda, I knew it was time to throw in the towel.  So where do you think all the money goes when you buy a "Japanese Made" Honda?  Most of it goes to the Ohio (or wherever the plant is) in the form of wages, taxes, construction jobs (for the buildings, grounds, etc.), U.S. dealer commissions, etc.  Parts are sourced from all over the world.  Yes, some profits float back overseas to Japan, but they probably have the least economic benefit of all the major players in the sale of a Japanese made car in the U.S.
Oct 20, 2009 3:40 pm

The products we do make here are made well.  It's the products that an American company has built in India, Taiwan, or some third world country because Rajeesh is willing to work for $3 a day vs $20 an hour that are the problem.  Get rid of the unions and start making this country manufacturing friendly and maybe, just maybe we can get back to the Buy American days.  Until then, as long as stuff can be made cheaper in China than the US, we'll continue to buy stuff that doesn't say Made in the USA. 

Oct 20, 2009 3:42 pm

Rajeesh -

Oct 20, 2009 4:00 pm

That's why I say unions are a problem, and the president is corrupt. Not that I care who is president, what I mean is, our strategy is corrupted by Obama.

 
For example, those (non union) "Japanese" cars made in the South use American labor and one could argue have been subsidized by the Japanese, in the sense Honda or whoever has not been making money.
 
In other words, where is the leadership? Unions suck, yet the large cap stocks that we are buying for our clients are sucking up to Obama; America is turning fascist, in the sense that it's unions, governments, corporations vs. everybody else.
 
There is not one rep here who doesn't know what I mean when I say, " Where is MY pension?".
 
The reason the market is doing well is basically because the dollar is becoming worthless.
 
And imports are largely a function of big blue chip companies. Do you really have to build cars in big factories? Do we need fifteen kinds of toothpaste?
 
The only way we'll create wealth in America going forward is through small business (less than 500 employees). The only people who understand this point are - us.
 
It would be fun to create a "socially responsible" equivalent ETF or managed fund - " The Registered Representatives Buy America Fund". Only cool companies need apply - Harley? - no corrupt fascist  BS allowed. I'd take Honda over some of these liberal blue chip high tech American CEOs.
 
What we need is a tangible product. Maybe it exists already and I don't see it.
 
http://www.milyunair.com/
Oct 20, 2009 7:06 pm

They will eventually say that, because that is what happens with capitalism everyone thinks they are entitled. The problem with the global spread of capitalism is eventually it will fail(Karl Marx said that "communism is what happens when capitalism fails on a massive scale").



The purpose of 15 toothpastes is because capitalism and low barrier to entry.(Econ 101).

Oct 20, 2009 7:16 pm

If AMERICAN MADE products were actually stocked in stores I would buy them, even at a premium.  It's just not possible to find them.


American cars are very well made and have been for the last 10 years ... however I will never support the union.  Ever.  They are a political group and until they discontinue their affiliation for the democratic party I will not purchase a product to support them.

Oct 20, 2009 9:09 pm
Milyunair:

That's why I say unions are a problem, and the president is corrupt. Not that I care who is president, what I mean is, our strategy is corrupted by Obama.



For example, those (non union) "Japanese" cars made in the South use American labor and one could argue have been subsidized by the Japanese, in the sense Honda or whoever has not been making money.



In other words, where is the leadership? Unions suck, yet the large cap stocks that we are buying for our clients are sucking up to Obama; America is turning fascist, in the sense that it's unions, governments, corporations vs. everybody else.



There is not one rep here who doesn't know what I mean when I say, " Where is MY pension?".



The reason the market is doing well is basically because the dollar is becoming worthless.



And imports are largely a function of big blue chip companies. Do you really have to build cars in big factories? Do we need fifteen kinds of toothpaste?



The only way we'll create wealth in America going forward is through small business (less than 500 employees). The only people who understand this point are - us.



It would be fun to create a "socially responsible" equivalent ETF or managed fund - " The Registered Representatives Buy America Fund". Only cool companies need apply - Harley? - no corrupt fascist BS allowed. I'd take Honda over some of these liberal blue chip high tech American CEOs.



What we need is a tangible product. Maybe it exists already and I don't see it.



http://www.milyunair.com/





There is a "Buy American fund". It's managed by John Lott, a disgraced economist who writes for FoxNews.



Oct 20, 2009 10:19 pm

Lets say I gank uh Ford -- Its assembled in Mexico or Canada

On da other hand, if I gank uh Honda, its assembled in South Carolina

Which iz mo' American?

Ya'll is mad stupid.

Oct 21, 2009 10:45 am
voltmoie:

If AMERICAN MADE products were actually stocked in stores I would buy them, even at a premium. It's just not possible to find them.



American cars are very well made and have been for the last 10 years ... however I will never support the union. Ever. They are a political group and until they discontinue their affiliation for the democratic party I will not purchase a product to support them.





So you don't watch professional sports, build you own houses, and grow your own food??? All unions.. oh and homeschool your kids??

Oct 21, 2009 10:46 am
voltmoie:

If AMERICAN MADE products were actually stocked in stores I would buy them, even at a premium. It's just not possible to find them.



American cars are very well made and have been for the last 10 years ... however I will never support the union. Ever. They are a political group and until they discontinue their affiliation for the democratic party I will not purchase a product to support them.





So if their affiliation was with the republican party it would be ok?

Oct 21, 2009 11:16 am

Who said I'm republican? 

 
My kid is too young for school.
 
I hire mexicans to build my homes.
 
Buy my food from hippies.
 
and only watch soccer and cricket.
 
Any more questions?   Also, while those other unions are probably democratic the UAW is an arm of the democratic party.  Just like Acorn.
Oct 21, 2009 11:19 am
voltmoie:

Who said I'm republican? 

 
My kid is too young for school.
 
I hire mexicans to build my homes.
 
Buy my food from hippies.
 
and only watch soccer and cricket.
 
Any more questions?   Also, while those other unions are probably democratic the UAW is an arm of the democratic party.  Just like Acorn.
 
 
 
I hate hippies.
Oct 21, 2009 5:14 pm
Squash1:

The auto industry is a great example.. People who didnt' graduate highschool making $90K a year doing nothing(They didn't even put the parts on at the end, the computer did) and still no quality american cars.

 
Sq, not trying to pick a fight, but there is a lot of prejudice in this post. First, as i've posted several times on this board my American made SUV has been a much better vehicle than has been one of my other vehicles, a Japanese made sedan. It's also better than at least one of the german made cars I've owned over the past ten years. Additionally, two other American made sedans in the fleet are every bit as good as any Japanese car i've ever owned. And i've owned about ten of those. So, the "still no quality in american cars" comment is a baseless perception, not a reality. This is confirmed by the head of Honda USA in his recent comments in that there is no longer a quality gap between Honda's cars and American cars. For that reason he says, Honda must find a new way to compete.  Additionally, he admits that the fuel saving technology on the current crop of American cars surpasses that offered by Honda. Honda will shorten its product cycle to get more competitive cars to market sooner than expected.
 
Doesn't sound like Americans cars have no quailty.
 
As for 90k a year workers without a HS diploma doing nothing, again a very prejudiced POV. The days of Rivithead are long passed. 
 
As for the rip on lack of education, don't confuse that with work ethic or intelligence.
 
A story:
 
25 years ago a poor Immgrant went to a church in NYC to apply for a job as a janitor. When he was handed an application he looked at it and said he didn't know how to read or write. The church administrator said he would fill it out if the man could sign it. The man said he didn't know how to write his name. The administrator, frustrated, told him he couldn't help him and sent him away.
 
Time went on. The immigrant went on to find a job as a brik layer. he worked hard and after few years he started his own crew. He got jobs as a subcontrator. He worked hard and it paid off. 20 years later he had built one of the largst masonry companies in the tri-state area. he was a millionaire many times over. He had learned to read and write.
 
Still, he liked to test the people he was dealing with. And so it was that he found himself in the sixith floor office of a law firm to complete his latest deal. The lawyer handed him a pen and asked him to sign the contract. He stood up and asked the lawyer to follow him to the window. he pointed out the window and said "Do you see that church down there? If I could sign my name i'd be the janitor in that church!" With that he gaged the lawyer's stunned reaction, winked at his lawyer,and smiled.
 
Don't judge a book by its cover. how many times do we need to learn that lesson?
 
And by the way, the head, as in the top, the highest, etc etc, doc in charge of John Hopkins Hospital oncology department, an immigrant and one time high school drop out.
Oct 21, 2009 5:59 pm

There goes your chance to intern with Bond Guy, Squash.  I've just moved up the rankings...

Oct 21, 2009 6:19 pm

Here is my recommendation.

Buy the best stuff at the best price, and stop f***ing with the free market.

If we can't manufacture it here and maintain our quality of life, then we should come up with new, innovative ideas that we can introduce to the world and make more money. We are spoiled lazy into thinking that just because we are the center of the financial world now, then that should entitle us to be lazy capitalists.

 Just so it's said, those new ideas should not be new ways to leverage the same unit of currency 30 times until everyone involved gets blown up when it turns south.

Now I'm done...

Oct 21, 2009 6:27 pm

Interesting ... the economics of a college eduacation may change in the coming years.


College graduates earn, on average, twice what non graduates earn over their lifetime. But that's just an average. Seems like science, medicine, math and other growth areas of the economy could justify the investment in college.
 
I think it's pretty clear that the corruption of both union and shareholders (profit max on SUVs, for example) - brought Detroit to its knees. Not sure it's a question of quality so much as a question of profitability or viability. We'll see if the bailout fixes the problem.
 
It seems the situation we're in now is the combination of many things - boomers spending instead of saving, being soft on their kids, borrowing to buy cool stuff from China, the corruption of big government, corporate governance ( how many vote on their mutual fund prospectus?) and of course the unions.
 
All of this points to small business as being the answer. Cut government, cut taxes, don't buy union products if they are expensive. Most of the economy is small business, that's where the job creation happens.
 
That's why I say, buy more local beer and food to support American products. You could probably convert an old car to electric if you had the time and knowledge.
 
Time to realize that none of us here - right or left - need to support or apologize for the status quo. If more workers leave large companies and government for small business - we can capture the retirement plan rollovers, too. This is still the occupation of the future, and the best job.
 
 
Oct 21, 2009 6:36 pm

Sometimes, I believe that is the policy of the administration. A devalued dollar will take care of just about everything. That's why this particular health care legislation is so important.

 
1. Portability.
2. Unionize one of the only growing parts of the economy and create good government jobs, that bring the percentage of government as percentage of GDP to over 50%. (To consolidate political power.)
3. Other than that, everyone is pretty much on their own.
 
We can just devalue our way out of half of our debt. The market is up because of improved corporate earnings? I think it's a grab for "real" assets.
 
Watch interest rates increase, inflation kick in, unemployment stay high for a while. Bond Guy is going to be pitching very high quality debt with very short duration, and we are going to be hearing many, many more BS speeches from the administration about the need to help the common man.
 
What the common man need is less people in his pockets, watch him slowly figure it out, help him and you can both build wealth at the expense of the WRP. (Wealth Redistribution Party.)
 
http://www.milyunair.com/