John Stossel: The Stupidity of "Buy American"

[AGRP]

I agree.

I wish I could find the Rockwell article on this, but his site doesn't have a search function. Essentially, buying cheaper products forces others to cut costs. He had an article about the death of major auto companies because of the Chinese car. China is free to produce cars without government regulations, thus they can provide a car at a much lower cost than all other companies that bow down to those government regulations. Don't blame free trade (low prices). Blame governments for forcing costly and burdensome regulations upon companies that raise prices. Blame companies who are not efficient.

 

[Pauls' Revere]

In a free market individuals are free choose which products they deem hold value for them. If I choose to purchase a product which is cheaper than another so be it. Quality of product is also a huge factor which will drive purchases. Would you rather make 10 purchases for something that continually breaks or buy it once and have last a lifetime. This is what differentiates one product and indeed one market from another. We all know about the quality in Japan six sigma Toyota plants and the reknown German engineering in thier cars. Should I "buy American" based on nationalism? suppose I can but it's up to the individual if they deem they should. Besides, they so called American cars you buy are put together with parts made around the world ask your local dealer if the Chrysler on the lot is made with 100% manufactuered and assembled in the USA, bet they say no.


"Anyone who argues that buy American creates jobs ought to be shot"- My Economics Professor

 

[Kregisen]

How many dollars have we printed up and exported, do you think price inflation has really kept up even near with the amount of our monetary base inflation?

I don't know, how many?

 

[Anti Federalist]

I guess I didn't know someone had to be perfect in order to agree with them on something? You're trying to tell me that the quote "The heart of conservatism is libertarianism" is true ONLY if Reagan was a good president? Is this the kind of logic people use?

Reagan also skyrocketed the deficits. Are you going to accuse me of liking deficits and the war on drugs too? Perhaps truth is truth no matter which mouth it comes out of.

Exactly my point, a truth can come from anywhere.

It doesn't take more degrees than a thermometer to observe and report a truth.

 

[Anti Federalist]

"Anyone who argues that buy American creates jobs ought to be shot"- My Economics Professor

Does that include American made education services as well?

Is your professor tenured?

If China offered online courses in Economics for a third of the price and half the time, I'd wager a year's pay that your Economics professor would be screaming blue murder.

 

[Southron]

What if I perceive American products to be higher quality than certain foreign products, which is often the case? Should I buy lesser quality foreign products just to subsidize their rice meals?

 

[heavenlyboy34]

Does that include American made education services as well?

Is your professor tenured?

If China offered online courses in Economics for a third of the price and half the time, I'd wager a year's pay that your Economics professor would be screaming blue murder.

It won't be long, bro. It's already possible to get a BA online before graduating high school.

 

[Anti Federalist]

What if I perceive American products to be higher quality than certain foreign products, which is often the case? Should I buy lesser quality foreign products just to subsidize their rice meals?

In my line of work there are chains, binders, cargo hooks and other equipment that must be American made.

It's documented and accounted for and logged.

Chinese made counterparts are strictly prohibited due to some high profile failures that got a couple of men killed.

 

[Anti Federalist]

It won't be long, bro. It's already possible to get a BA online before graduating high school.

You know, it was long before the days of having 'tubes and MP3s of radio shows, so I don't have a copy, but I remember, jeez, must be 15 years ago now, getting through on the Limbaugh show and having this exact same discussion with Walter Williams, who was subbing that day.

 

[heavenlyboy34]

You know, it was long before the days of having 'tubes and MP3s of radio shows, so I don't have a copy, but I remember, jeez, must be 15 years ago now, getting through on the Limbaugh show and having this exact same discussion with Walter Williams, who was subbing that day.

Srsly? Neat! Williams generally has some solid, logical opinions on this sort of subject. What did he have to say?

 

[Southron]

In my line of work there are chains, binders, cargo hooks and other equipment that must be American made.

It's documented and accounted for and logged.

Chinese made counterparts are strictly prohibited due to some high profile failures that got a couple of men killed.

I can definitely understand that. I'm partial to quality American tools myself. I really like Wright tools. Even their steel is forged here.

 

[Anti Federalist]

Srsly? Neat! Williams generally has some solid, logical opinions on this sort of subject. What did he have to say?

He was talking about the same thing, how buying American was foolish and trade and so on, IIRC it was right after NAFTA passage.

He was saying that if an Economist opened up shop down the road from him and charged less money it would behoove him to be be more efficient and match or beat his prices or offer more in service.

I made the case that I have been making all along, that it would be fine if it was down the street, because both of you would have the same or relatively the same, overhead costs. But to compete with that same economist from India, let's say, where the overhead costs are wildly different would never work. I think I said something like it would be like trying to win a baseball game, when everybody else on the field is playing football.

He actually tended to agree and said that the solution to that was to lower our restrictions to doing business.

I then made the prison analogy in less than a minute and that was the end of the call.

Keep in mind this was before I had a firm understanding of how the money supply and Fed tied into this.

Speaking of NAFTA, can anybody argue that this has been anything but a dismal failure.

Not just on our end, but for the millions and millions of poor Mexicans who had their economy ripped out from under them and had no choice but to flee north for whatever work they could find, leaving behind a failed narco-state.

 

[silverhandorder]

You know comparative advantage works even if the other person is better at making everything... There is still a degrees to which that person is more efficient. So you could do what he is the least efficient at doing. This way both benefit.

 

[jmdrake]

I didnt see any posts talking about voluntary choices by consumers. This thread reached 19 pages because it's obviously talking about the government stepping in....why would you think libertarians would argue over whether or not consumers have buying choices?

If someone wants to foolishly spend their money that encourages ineffiency that decreases wealth, that's their perogative.

Did you even read the freaking FIRST POST IN THE THREAD? It is all about dumbass John Stossell trashing the voluntary "buy America" movement. You don't have to read the entire thread to talk intelligently about it, but you should at least read the first post.

 

[AFPVet]

Did you even read the freaking FIRST POST IN THE THREAD? It is all about dumbass John Stossell trashing the voluntary "buy America" movement. You don't have to read the entire thread to talk intelligently about it, but you should at least read the first post.

Thank you. I also pointed out five good reasons why you should buy American. This isn't rocket science folks, if you buy American, you are helping our economy! We just need to do something about the unions, corruption, and regulations which are pushing companies overseas.

 

[Anti Federalist]

Not true at all. We invade countries that do not have US installed puppet dictators that whore their people out to the US corporations as slave labor. If anything, if those countries had protectionism they would reduce poverty and kick out out the imperialist US and EU corporations. But when they do that, they get invaded by the US because the US corps want cheap slave labor overseas.

The free trade notion that "when goods fail to cross the border, soldiers will" is just flat out wrong.

We've been invading and occupying and overthrowing our trading partners for over a hundred years now.

It was invading China, and Haiti and Central America and hundred other places for American corporate interests a hundred years ago that prompted Smedley Butler to, rightly, declare that "War is Racket".

 

[LayZayFaire]

I say we encourage China to "buy Chinese" and India to "buy Indian". I also want to condemn US companies that export products to China and India.

In fact, Kenya wouldn't be so damn poor if they would just be more protectionist. If they want modern medicines and modern medical equipment, they had better make it themselves than allow their own country to be bankrupted by countries that can make those things much cheaper and more efficiently.

 

[Cutlerzzz]

dumbass John Stossell

Yeah, that guy is an idiot.

 

[nobody's_hero]

I say we encourage China to "buy Chinese" and India to "buy Indian". I also want to condemn US companies that export products to China and India.

In fact, Kenya wouldn't be so damn poor if they would just be more protectionist. If they want modern medicines and modern medical equipment, they had better make it themselves than allow their own country to be bankrupted by countries that can make those things much cheaper and more efficiently.

China is booming, they're already 'buying Chinese' because their government has some of the highest tariffs in the world. Contrary to the free traders' hypotheses, the world did not end for China when their government enacted tariffs. Their upswing is just beginning. As for condeming U.S. companies that export products to China or India, well, you'd have to find some first.

And Kenyans might actually be better off if they did things themselves. I'm not familiar with the specifics, but if they've been sitting around waiting for someone to produce goods cheaper than they can, it's no wonder why they're stuck in poverty.

Are we going to wait around for someone else to build stuff until we reach Kenya's poverty levels? Is that the goal? Can I at least die first?

 

[low preference guy]

Contrary to the free traders' hypotheses, the world did not end for China when their government enacted tariffs.

It's news to me that free traders say tariffs will "end the world". We just say that it is better to have free trade, just like it is better to have no minimum wage than a minimum wage. Nice straw man.