Growing Hondas
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David Friedman: Growing Honda[^]
... If you still find the claim that tariffs on Japanese automobiles are a way of protecting us from the Japanese in order to keep American workers from being replaced by Japanese workers plausible, consider the following fable. Growing Hondas. There are two ways we can produce automobiles. We can build them in Detroit or we can grow them in Iowa. Everyone knows how we build automobiles. To grow automobiles, we begin by growing the raw material from which they are made--wheat. We put the wheat on ships and send the ships out into the Pacific. They come back with Hondas on them. From our standpoint, "growing Hondas" is just as much a form of production--using American farm workers instead of American auto workers--as building them. What happens on the other side of the Pacific is irrelevant; the effect would be just the same for us if there really were a gigantic machine sitting somewhere between Hawaii and Japan turning wheat into automobiles. Tariffs are indeed a way of protecting American workers--from other American workers. ...
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David Friedman: Growing Honda[^]
... If you still find the claim that tariffs on Japanese automobiles are a way of protecting us from the Japanese in order to keep American workers from being replaced by Japanese workers plausible, consider the following fable. Growing Hondas. There are two ways we can produce automobiles. We can build them in Detroit or we can grow them in Iowa. Everyone knows how we build automobiles. To grow automobiles, we begin by growing the raw material from which they are made--wheat. We put the wheat on ships and send the ships out into the Pacific. They come back with Hondas on them. From our standpoint, "growing Hondas" is just as much a form of production--using American farm workers instead of American auto workers--as building them. What happens on the other side of the Pacific is irrelevant; the effect would be just the same for us if there really were a gigantic machine sitting somewhere between Hawaii and Japan turning wheat into automobiles. Tariffs are indeed a way of protecting American workers--from other American workers. ...
Gee, so if we just grow a lot more wheat our 50 billion dollar @ year trade deficit with Japan would go away? Wow! I wonder why no-one has ever realised that. :omg: The foreign companies love to sell us junk (anything that depreciates or is consumable - oil, automobiles, television sets, etc.) for our dollars. NOT for wheat. These dollars are swapped for bonds to the joy of our so-called economists who think that this is helping to finance our national deficit. Or they buy our assets (real estate, companies, stocks, art, raw material (including wheat), etc. because they prefer to buy the store rather then its merchandise. - Every year a larger percentage of our wealth is being paid to these foreign bond holders. It will continue to grow until we adopt a strong trade policy. Every year foreign countries own more of our real assets, paid for with dollars created as Government I.O.U's.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Gee, so if we just grow a lot more wheat our 50 billion dollar @ year trade deficit with Japan would go away? Wow! I wonder why no-one has ever realised that. :omg: The foreign companies love to sell us junk (anything that depreciates or is consumable - oil, automobiles, television sets, etc.) for our dollars. NOT for wheat. These dollars are swapped for bonds to the joy of our so-called economists who think that this is helping to finance our national deficit. Or they buy our assets (real estate, companies, stocks, art, raw material (including wheat), etc. because they prefer to buy the store rather then its merchandise. - Every year a larger percentage of our wealth is being paid to these foreign bond holders. It will continue to grow until we adopt a strong trade policy. Every year foreign countries own more of our real assets, paid for with dollars created as Government I.O.U's.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
Gee, so if we just grow a lot more wheat our 50 billion dollar @ year trade deficit with Japan would go away? Wow! I wonder why no-one has ever realised that. :omg:
One is in absolute awe of your adamantine committment to exhibiting foolishness (and trollishness).
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Oakman wrote:
Gee, so if we just grow a lot more wheat our 50 billion dollar @ year trade deficit with Japan would go away? Wow! I wonder why no-one has ever realised that. :omg:
One is in absolute awe of your adamantine committment to exhibiting foolishness (and trollishness).
But no-one is in awe of yours.
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David Friedman: Growing Honda[^]
... If you still find the claim that tariffs on Japanese automobiles are a way of protecting us from the Japanese in order to keep American workers from being replaced by Japanese workers plausible, consider the following fable. Growing Hondas. There are two ways we can produce automobiles. We can build them in Detroit or we can grow them in Iowa. Everyone knows how we build automobiles. To grow automobiles, we begin by growing the raw material from which they are made--wheat. We put the wheat on ships and send the ships out into the Pacific. They come back with Hondas on them. From our standpoint, "growing Hondas" is just as much a form of production--using American farm workers instead of American auto workers--as building them. What happens on the other side of the Pacific is irrelevant; the effect would be just the same for us if there really were a gigantic machine sitting somewhere between Hawaii and Japan turning wheat into automobiles. Tariffs are indeed a way of protecting American workers--from other American workers. ...
That assumes that you are actually paying for the Hondas with wheat. In the real world, the Japanese don't really care for any more wheat, so we are paying for the Hondas with funds borrowed from them (or the Chinese) by selling treasury notes. The interest on those notes gets paid by taxing the wheat farmer, reducing his ability to plant wheat and pay his mortgage. The out of work auto worker becomes a ward of the state, which uses more of the wheat farmers taxes to buy bread for the starving auto worker. The bank siezes th wheat farmers property for non-payment of the mortgage, making everyone a ward of the debtor state, which begins printing money furiously to pay off the debt incurred to buy the hondas which no one can afford to fuel any longer. War begins as the debt issuers demand fair value for their loan...
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Oakman wrote:
Gee, so if we just grow a lot more wheat our 50 billion dollar @ year trade deficit with Japan would go away? Wow! I wonder why no-one has ever realised that. :omg:
One is in absolute awe of your adamantine committment to exhibiting foolishness (and trollishness).
Ilíon wrote:
One is in absolute awe of your adamantine committment to exhibiting foolishness (and trollishness).
So you can't find anything factually wrong with what I wrote, eh? I didn't think you would. You really need to start thinking through what is being said in some of these asinine links you insist on posting.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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That assumes that you are actually paying for the Hondas with wheat. In the real world, the Japanese don't really care for any more wheat, so we are paying for the Hondas with funds borrowed from them (or the Chinese) by selling treasury notes. The interest on those notes gets paid by taxing the wheat farmer, reducing his ability to plant wheat and pay his mortgage. The out of work auto worker becomes a ward of the state, which uses more of the wheat farmers taxes to buy bread for the starving auto worker. The bank siezes th wheat farmers property for non-payment of the mortgage, making everyone a ward of the debtor state, which begins printing money furiously to pay off the debt incurred to buy the hondas which no one can afford to fuel any longer. War begins as the debt issuers demand fair value for their loan...
Rob Graham wrote:
War begins as the debt issuers demand fair value for their loan...
And the U.S. once again puts its vast industrial machine on a war footing. . .oops.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Rob Graham wrote:
War begins as the debt issuers demand fair value for their loan...
And the U.S. once again puts its vast industrial machine on a war footing. . .oops.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
The good news is that I don't think they'll want their property all radioactive and crispy.
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The good news is that I don't think they'll want their property all radioactive and crispy.
Rob Graham wrote:
The good news is that I don't think they'll want their property all radioactive and crispy.
Nor their new peasants, either. Unfortunately, we've been so busy balancing our budget on the backs of our military, that nuclear is the only kind of war we are equipped to engage in against a real foe.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Rob Graham wrote:
The good news is that I don't think they'll want their property all radioactive and crispy.
Nor their new peasants, either. Unfortunately, we've been so busy balancing our budget on the backs of our military, that nuclear is the only kind of war we are equipped to engage in against a real foe.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Well, we'll always have Stan, Mike and kmg in the hills watching our back...S'pose they'll have enough ammo?
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Well, we'll always have Stan, Mike and kmg in the hills watching our back...S'pose they'll have enough ammo?
Rob Graham wrote:
Well, we'll always have Stan, Mike and kmg in the hills watching our back...S'pose they'll have enough ammo?
Enough for every toe on both feet.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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But no-one is in awe of yours.
Rob Graham wrote:
But no-one is in awe of yours.
I think there are probably a few overly sympathetic folks out there who would take a look at Ilion and go...awwwwwww, poor thing. :laugh:
"Republicans are the party that says government doesn't work and then they get elected and prove it." -- P.J. O'Rourke
I'm a proud denizen of the Real Soapbox[^]
ACCEPT NO SUBSTITUTES!!! -
David Friedman: Growing Honda[^]
... If you still find the claim that tariffs on Japanese automobiles are a way of protecting us from the Japanese in order to keep American workers from being replaced by Japanese workers plausible, consider the following fable. Growing Hondas. There are two ways we can produce automobiles. We can build them in Detroit or we can grow them in Iowa. Everyone knows how we build automobiles. To grow automobiles, we begin by growing the raw material from which they are made--wheat. We put the wheat on ships and send the ships out into the Pacific. They come back with Hondas on them. From our standpoint, "growing Hondas" is just as much a form of production--using American farm workers instead of American auto workers--as building them. What happens on the other side of the Pacific is irrelevant; the effect would be just the same for us if there really were a gigantic machine sitting somewhere between Hawaii and Japan turning wheat into automobiles. Tariffs are indeed a way of protecting American workers--from other American workers. ...
Well, at least you and David have something in common. You are both well qualified to talk about boatloads. :)
Chris Meech I am Canadian. [heard in a local bar] In theory there is no difference between theory and practice. In practice there is. [Yogi Berra]
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That assumes that you are actually paying for the Hondas with wheat. In the real world, the Japanese don't really care for any more wheat, so we are paying for the Hondas with funds borrowed from them (or the Chinese) by selling treasury notes. The interest on those notes gets paid by taxing the wheat farmer, reducing his ability to plant wheat and pay his mortgage. The out of work auto worker becomes a ward of the state, which uses more of the wheat farmers taxes to buy bread for the starving auto worker. The bank siezes th wheat farmers property for non-payment of the mortgage, making everyone a ward of the debtor state, which begins printing money furiously to pay off the debt incurred to buy the hondas which no one can afford to fuel any longer. War begins as the debt issuers demand fair value for their loan...
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Rob Graham wrote:
That assumes that you are actually paying for the Hondas with wheat.
You don't pay attention, do you? ... or think critically.
Are Ad-Hominem attacks the totality of your ability to debate? If you can't find an argument of substance, you should just STFU, but being incompetent, and infantile, you can only attack the debater. What a low, slimy being you are.
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Are Ad-Hominem attacks the totality of your ability to debate? If you can't find an argument of substance, you should just STFU, but being incompetent, and infantile, you can only attack the debater. What a low, slimy being you are.