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Old 02-13-2009, 09:35 AM   #1
Yar-El
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U.S. Government Is Not Allowed to Buy American

U.S. Government Is Not Allowed to Buy American
CNBC Article - G7 Powers Head to Rome as Crisis Rages

Quote:
G7 finance ministers headed to Rome to discuss the global economic crisis on Friday with a warning from Germany that the world could be plunged back into the dark days of the 1930s if governments resorted to protectionism.

The G7 industrialized economic powers, all in recession, are under pressure to prove they can work together to stop the rot rather than engaging in a battle of "beggar-thy-neighbor," and Berlin made it clear the latter was an increasingly real risk.

"We will have to do everything to ensure history does not repeat itself," German Finance Minister Peer Steinbrueck told parliament a few hours ahead of the Rome meeting. "Right now, I think Germany has a huge interest in ensuring, at international meetings, that the world does not make the same mistakes it made in the 1930s."

He cited the "buy American" clause in an economic stimulus package the U.S. Congress is due to vote on just as the finance ministers of the G7 powers -- the United States, Japan, Germany, Britain, France, Italy and Canada -- meet over dinner in Rome.
For those of you who follow this stuff, pay attention to this particular article. Bill Clinton was responsible for this whole mess by signing the Wolrd Trade Agreement in the early 1990s. There is a legal clause that says The United States cannot buy United States produced goods and services. I will try to find the agreement for you as proof. We can be legally sued by other nations.

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FOUND IT!
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MSNBC Article - Obama on 'Buy American' collision course?
President signals opposition to Democratic measure in stimulus bills

Quote:
President Barack Obama has signaled opposition to “Buy American” provisions in economic stimulus legislation now before Congress, a decision that could put him on a collision course with congressional Democrats and labor unions.

Both the $819 billion stimulus bill passed by the House last week and the Senate version being debated now, which has an estimated price tag of more than $900 billion, would require that infrastructure projects carried out under the program use U.S.-made iron and steel. The current version of the Senate bill would go further, requiring that all manufactured goods used in the projects be U.S.-made.
Quote:
But Obama signaled in an interview Tuesday that he may seek to have the Buy American requirements deleted before the legislation reaches his desk.

Asked by ABC News anchor Charles Gibson about the provision, Obama replied, “I don’t want provisions that are going to be a violation of World Trade Organization agreements or in other ways signal protectionism. I think that would be a mistake right now. That is a potential source of trade wars that we can't afford at a time when trade is sinking all across the globe.”
This should get people mad. We are not allowed to invest in United States products and services due to the WTO agreements. America cannot buy American. How do you stimulate the US economy by not investing in the US economy?

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WSJ Article - Obama Risks Flap on 'Buy American'

Quote:
EU officials said Tuesday that the trade bloc would likely file a complaint at the World Trade Organization if the U.S. stimulus plan contains language strongly favoring U.S. suppliers. The problem, these officials said, is that a clause forcing Washington to favor U.S. goods, as some lawmakers would like, might violate agreements within the WTO that limit discrimination in government spending.

"We would have to look at our all options, including a WTO case, if 'Buy American' passes," an EU official said.
Its a Democrat and Republican problem. They both sold us down the tube. Too bad Obama didn't stick to his guns. He would have won some people over.

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WTO Article - Lamy: “Trade is part of the solution to the global economic crisis”

Quote:
To help WTO members have a better and real-time idea of global trends in international trade and trade policy developments, we have set up a radar tracking trade and trade-related measures taken in the context of the current crisis. Up until last Monday the radar picture showed that most WTO members appear to have successfully kept domestic protectionist pressures under control. In the meantime, a new spot has appeared with the “Buy America” provision in the draft US stimulus package to be considered by the US Senate this week.

Protection, yes; isolationism, no. Governments must provide answers to the social unrest which is brewing behind the massive job losses. This is the time to activate social safety nets, not only in rich countries because there are also poor in rich societies. But also, and in particular, in the poorer countries who do not have the means to weather the storm. The stimulus packages that have been adopted need to provide answers to those who are being left behind in this crisis.

And it is in this context that we all risk seeing trade and the WTO lumped together with the elements of the Washington consensus which many believe to have failed. With de-regulation and privatisations. And it is now that we risk throwing the baby out with the bath water.
Trade is the solution? We can't Buy American and try to stabilize ourselves? Do we live in the freeworld?

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MSNBC Article - Wall Street warily watches Washington, G-7
Investors hoping G-7 finance ministers find a way out of the morass

Quote:
Investors also turned their gaze towards the Group of Seven gathering in Rome on Friday, expectant that economic leaders from the United States, Canada, Japan and other major industrialized nations will come up with some clear, specific ways to repair the global financial system at a meeting this weekend.

The G-7 will discuss new rules for financial markets, as well as concerns about protectionist measures in stimulus plans. Big breakthroughs might be more likely, though, at the broader, 20-country summit in April.
I guess there are people above the President's head. Does the President have a say, or is he just a figure head sitting home? G7 is going to tell you what you can invest in. It won't be American. Is anyone else ready for a Revolution?

Last edited by Yar-El; 02-13-2009 at 10:20 AM.
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