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Newsjock

(11,733 posts)
Mon Jun 15, 2015, 01:47 PM Jun 2015

Summers: Trade defeat will make world more dangerous

Source: CNBC

Failure to move forward in Congress on a 12-nation trade deal spearheaded by the United States will raise questions about American leadership and hurt the country's geopolitical standing, former U.S. Treasury Secretary Larry Summers said Monday.

"It will be a more dangerous world if the United States shows itself again unable to participate in international organizations in a full way and unwilling to support global trade agreements that it initiated," the former economic advisor to President Barack Obama told CNBC's "Squawk on the Street."

He said the United States has already failed to participate in China's Asian Infrastructure Investment Bank, which other Western economic powers have joined. It has also been unable to deliver support for increased Asian participation in the International Monetary Fund and held back the World Bank from growing, he added.

Read more: http://finance.yahoo.com/news/summers-trade-defeat-world-more-dangerous-163308104.html

63 replies = new reply since forum marked as read
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Summers: Trade defeat will make world more dangerous (Original Post) Newsjock Jun 2015 OP
out come all the familiar faces with omens of doom.the 1% isnt getting it's way so watch out Romeo.lima333 Jun 2015 #1
Wall St's Cash Cow = Larry Summers FreakinDJ Jun 2015 #12
It's a two-way street Art_from_Ark Jun 2015 #59
The only group that wiill be in danger is the ultra-wealthy capitalists. olegramps Jun 2015 #23
that's correct those with little to lose will lose little Romeo.lima333 Jun 2015 #26
He's likely right in a number of respects. Hoyt Jun 2015 #2
such as...... Romeo.lima333 Jun 2015 #27
Such as, we are the richest country in the world, telling the other countries "We have ours, screw Hoyt Jun 2015 #43
well idk that he is, i dont trust him. and he doesnt define dangerous he's just trying to scare Romeo.lima333 Jun 2015 #47
You will get to see it, at least 90 days before Congress takes it up. No it doesn't allow Hoyt Jun 2015 #48
Larry Summers Autumn Jun 2015 #3
fookin hilarious BrotherIvan Jun 2015 #32
WTF like I would believe a single word that slithered out of that creeps mouth Autumn Jun 2015 #34
The always reliable, never-wrong Larry Summers is lecturing us? arcane1 Jun 2015 #4
Surely the Communists/terrorists will win, if we allow 1%ers and our corporate masters to "lose!" villager Jun 2015 #5
The Red Menace is under the bed Art_from_Ark Jun 2015 #61
Bend over... catnhatnh Jun 2015 #6
And there it is. Fear....with a particular flavor of TPP. As we at DU groan and laugh... NRaleighLiberal Jun 2015 #7
You are correct. Off topic, but your book is great! peacebird Jun 2015 #10
Thanks! Tomatoes are more pleasant to consider than politics these days, in my view! NRaleighLiberal Jun 2015 #20
Shut up, Larry Jack Rabbit Jun 2015 #8
+1. nt bemildred Jun 2015 #16
+ another Scuba Jun 2015 #36
And another. nt truebluegreen Jun 2015 #51
Seriously Alittleliberal Jun 2015 #54
+1 more. Well said. He should have never been allowed to work beyon WS, or even there appalachiablue Jun 2015 #63
Ummm...Larry. Maybe you and yours shouldn't have pushed this to begin with. n/t Bonhomme Richard Jun 2015 #9
Maybe "more dangerous" for 1% Greedheaded Monsters, yes. ~nt 99th_Monkey Jun 2015 #11
Not hanging the banksters makes the world more dangerous. hobbit709 Jun 2015 #13
More dangerous... for the 1%. Want to join the international community, join world court on point Jun 2015 #14
for those who needed confirmation that TPP is an insidious and evil of Wall Street and corporates Man from Pickens Jun 2015 #15
+1 Well said BrotherIvan Jun 2015 #33
Summers is a weasel... gregcrawford Jun 2015 #17
Man oh man they really ARE laying on thick, aren't they? Populist_Prole Jun 2015 #18
But, wait, because ... mushroom clouds! Moliere Jun 2015 #19
They have no shame at all Art_from_Ark Jun 2015 #60
Well this should prove who the TPP really benefits AZ Progressive Jun 2015 #21
like we are being unreasonable wanting jomin41 Jun 2015 #22
This has always been the failure of this 'labor' strategy. yallerdawg Jun 2015 #24
More dangerous for thieving bank$ter/donors, like the terrorist L. $ummers. One can only hope. n/t jtuck004 Jun 2015 #25
For who, Larry? CanonRay Jun 2015 #28
Uh, what? SoapBox Jun 2015 #29
TPP=endgame TimeToEvolve Jun 2015 #30
Not having a strong middle class that makes a strong country is what screws America! cascadiance Jun 2015 #31
You just have to love Summers Logic. Wellstone ruled Jun 2015 #35
Larry Summers STFU INdemo Jun 2015 #37
From the same sack o' woe chapdrum Jun 2015 #38
hopefully more dangerous for corporate bullies diane in sf Jun 2015 #39
Larry Sumers? There's a name of good omen! Joe Chi Minh Jun 2015 #40
Bullshit! ananda Jun 2015 #41
As if we're not already imposing our will... americannightmare Jun 2015 #42
Larry Summers turbinetree Jun 2015 #44
How about this: november3rd Jun 2015 #45
The United States - unable to support global trade agreements that IT initiated asiliveandbreathe Jun 2015 #46
when Larry stops a being useful in fuxking we the peeps his value goes down elehhhhna Jun 2015 #52
Heidious sack of shit! wolfie001 Jun 2015 #49
Another contrary indicator.. sendero Jun 2015 #50
yeah but Isis is paying attention! or something. elehhhhna Jun 2015 #53
Larry Summers - The Bill Kristol of money hatrack Jun 2015 #55
ooh what's next LiberalElite Jun 2015 #56
Translation: forest444 Jun 2015 #57
FU Summers. Owl Jun 2015 #58
OMG! OMG! Art_from_Ark Jun 2015 #62
 

Romeo.lima333

(1,127 posts)
1. out come all the familiar faces with omens of doom.the 1% isnt getting it's way so watch out
Mon Jun 15, 2015, 01:47 PM
Jun 2015

freedom isn't free.

 

FreakinDJ

(17,644 posts)
12. Wall St's Cash Cow = Larry Summers
Mon Jun 15, 2015, 02:02 PM
Jun 2015

Don't buy the faulty mortgages and sell them back to the people like FDR did in the 1930s

Pay off all the Foreign Investors with American Worker's taxes

Art_from_Ark

(27,247 posts)
59. It's a two-way street
Tue Jun 16, 2015, 01:36 AM
Jun 2015

American investors will also be able to be paid off with foreign workers' taxes.

 

Hoyt

(54,770 posts)
43. Such as, we are the richest country in the world, telling the other countries "We have ours, screw
Mon Jun 15, 2015, 04:00 PM
Jun 2015

Last edited Mon Jun 15, 2015, 04:39 PM - Edit history (1)

you." Compared to a lot of these countries, even folks on the low end here are the 1%ers.

We can't fulfill our commitments to the world. We need to counter China and India, or things won't get a bit better here in the USA. And, quiet frankly, it's a global world, and we better learn how to participate as if we are all in this together.

Why the heck do you think he's wrong?

 

Romeo.lima333

(1,127 posts)
47. well idk that he is, i dont trust him. and he doesnt define dangerous he's just trying to scare
Mon Jun 15, 2015, 04:34 PM
Jun 2015

"We can't fulfill our commitments to the world. We need to counter China and India, or things won't get a bit better here in the USA. And, quit frankly, it's a global world, and we better learn how to participate as if we are all in this together. "

this may be the case but there's nothing saying that the tpp will do this and surely there is more than one solution. perhaps one that doesn't involve mostly lobbyists and corporations, domestic and foreign, who tell our president not to tell anyone about the details.
we've done a few of these and im sure the wealthy make out but what I see from where I am is that they depress wages, export jobs, allow other countries to use child labor and rape the environment. potus says there is language to address those issues but I don't trust our government to enforce them
it's a global world but I don't want it run by corporations and this deal allows corporations to sue the u.s. over what it perceives to be unfair advantages.

of course we don't know what's really in it because we , the serfs living under the edict , aren't allowed to see it - in it's entirety

 

Hoyt

(54,770 posts)
48. You will get to see it, at least 90 days before Congress takes it up. No it doesn't allow
Mon Jun 15, 2015, 04:42 PM
Jun 2015

foreign companies to sue the USA over what it perceives as "unfair advantages." The rest of your post is mostly wrong too.

Autumn

(45,120 posts)
34. WTF like I would believe a single word that slithered out of that creeps mouth
Mon Jun 15, 2015, 02:55 PM
Jun 2015

Fuck him and his ilk.

 

arcane1

(38,613 posts)
4. The always reliable, never-wrong Larry Summers is lecturing us?
Mon Jun 15, 2015, 01:51 PM
Jun 2015

Worse, lecturing us with vague nonsense about "Larry Summers"?

People still listen to this hack?

 

villager

(26,001 posts)
5. Surely the Communists/terrorists will win, if we allow 1%ers and our corporate masters to "lose!"
Mon Jun 15, 2015, 01:53 PM
Jun 2015

I'm a-skairt!

NRaleighLiberal

(60,024 posts)
7. And there it is. Fear....with a particular flavor of TPP. As we at DU groan and laugh...
Mon Jun 15, 2015, 01:55 PM
Jun 2015

the uninformed public shake in their boots. We are so, so screwed.

This is like a particularly bad parody of The Usual Suspects

Jack Rabbit

(45,984 posts)
8. Shut up, Larry
Mon Jun 15, 2015, 01:56 PM
Jun 2015

Your views on trade and development are to be taken no more seriously than your views on a woman's capacity to learn math or science.

Free trade has made a fine mess of things. Just crawl back into your hole on Wall Street and STFU.

appalachiablue

(41,182 posts)
63. +1 more. Well said. He should have never been allowed to work beyon WS, or even there
Tue Jun 16, 2015, 10:42 AM
Jun 2015

actually. Arrogant buffoon-

on point

(2,506 posts)
14. More dangerous... for the 1%. Want to join the international community, join world court
Mon Jun 15, 2015, 02:04 PM
Jun 2015

support the UN more

 

Man from Pickens

(1,713 posts)
15. for those who needed confirmation that TPP is an insidious and evil of Wall Street and corporates
Mon Jun 15, 2015, 02:08 PM
Jun 2015

you couldn't have asked for a clearer sign

by this point in time everyone should be well aware that when Larry Summers steps into the picture someone is about to get robbed, and it's probably you

BrotherIvan

(9,126 posts)
33. +1 Well said
Mon Jun 15, 2015, 02:54 PM
Jun 2015

Republicans like it
Paul Ryan lurves it
and Larry Summers wants to hug it

WTF else do we really need to know?

gregcrawford

(2,382 posts)
17. Summers is a weasel...
Mon Jun 15, 2015, 02:12 PM
Jun 2015

... who spews such indefensible bullshit just to hear his head rattle. Guess he never got the memo that no one capable of critical thought affords him a molecule of credibility.

Populist_Prole

(5,364 posts)
18. Man oh man they really ARE laying on thick, aren't they?
Mon Jun 15, 2015, 02:17 PM
Jun 2015

Infuriating, but then again therapeutic in a way; I love seeing a plutocrat scorned.

AZ Progressive

(3,411 posts)
21. Well this should prove who the TPP really benefits
Mon Jun 15, 2015, 02:23 PM
Jun 2015

About Larry Summers:

From wikipedia: https://en.wikipedia.org/wiki/Lawrence_Summers

In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the Post-Soviet states, and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act.



Robert Rubin was of course a Goldman Sachs executive

jomin41

(559 posts)
22. like we are being unreasonable wanting
Mon Jun 15, 2015, 02:24 PM
Jun 2015

to see what's in the bag. What's in the bag, Larry? WE just want to know what you're hiding. YOU just want us to "sign before reading". Everything else is b.s.

yallerdawg

(16,104 posts)
24. This has always been the failure of this 'labor' strategy.
Mon Jun 15, 2015, 02:25 PM
Jun 2015

Sure, Democrats would be held accountable. Since trade is complicated, and hard to explain.

From link:

Asked why Obama has not been able to get labor groups on board, Summers said the United States has not done what it needs to do as a country to help working people get by. Labor is wary of foreign trade because the right to organize and basic social protections are diminished, income inequality is on the rise, and job growth has been held back by lack of infrastructure investment, he said.

"There is every reason for organized labor to be unhappy," Summers said. "The problem is that this is the wrong hostage for them to take."

Global trade will increase with or without the Trans-Pacific Partnership, and defeating the deal is not a strategy that will protect the middle class, he said. Instead, labor should focus on increasing the minimum wage, expanding family leave, improving universal health care and making higher education more affordable, he said.

But getting absolutely nothing is so much safer and easier.

Number one priority - got to get reelected!
 

jtuck004

(15,882 posts)
25. More dangerous for thieving bank$ter/donors, like the terrorist L. $ummers. One can only hope. n/t
Mon Jun 15, 2015, 02:26 PM
Jun 2015

SoapBox

(18,791 posts)
29. Uh, what?
Mon Jun 15, 2015, 02:41 PM
Jun 2015

Ah....I see...it's the old, time tested

BOO!

Hey Larry...let all of America see what's in this veiled 12 nation (I never knew a number) "pact" and we'll think about safety.

Other than that...STFU.

 

cascadiance

(19,537 posts)
31. Not having a strong middle class that makes a strong country is what screws America!
Mon Jun 15, 2015, 02:48 PM
Jun 2015

And the CROOKS at the top are the ones that are the ones that are screwing us in the world standing.

They deserve to be prosecuted, sent to prison, and put in solitary there for the rest of their lives!!

Angola 3 treatment for the real crooks and killers of all life on earth by diverting us from combatting climate change!

 

Wellstone ruled

(34,661 posts)
35. You just have to love Summers Logic.
Mon Jun 15, 2015, 02:55 PM
Jun 2015

Remember a comment from old Larry about his distaste of the Labor Unions,something to the line of,if you think you need a Union,then your a lazy bum. This turd is 100% anti worker,and don't let him even try to fool you. What a Dirtbag.

 

chapdrum

(930 posts)
38. From the same sack o' woe
Mon Jun 15, 2015, 03:11 PM
Jun 2015

who, as president of the World Bank, told conferees on landfill concerns, that Africa should be considered as a dumping ground because it's "underpolluted."
Having this freak as an initial Obama team player was a bad sign for what has followed.

americannightmare

(322 posts)
42. As if we're not already imposing our will...
Mon Jun 15, 2015, 03:59 PM
Jun 2015

all over the planet. These "trade" agreements only formalize things. If they don't get their way through bogus negotiation, they'll just up the ante in rape and pillage...

turbinetree

(24,726 posts)
44. Larry Summers
Mon Jun 15, 2015, 04:05 PM
Jun 2015

"It will be a more dangerous world if the United States shows itself again unable to participate in international organizations in a full way and unwilling to support global trade agreements that it initiated," the former economic advisor to President Barack Obama told CNBC's "Squawk on the Street."

Lets take a closer look at the above remarks from a corporatists and we will go back and start at Ronald Reagan (and please note this a bi-partisan effort sell job) -------------and Larry Summers was in the oval office doing what at the time----------selling greed and now he's selling fear----------that is absolutely outrageous-----------maybe he should go up into the Taconite / Iron Ore mines in MN and see what dumping is doing to the mines up there, and just maybe he should ask if your going to build a product out of steel------------would you not like to have that product coming from your own country--------------call me a protectionist-----------I don't care---------because I am:

http://www.ontheissues.org/Celeb/Ronald_Reagan_Free_Trade.htm

http://www.ontheissues.org/Celeb/Jimmy_Carter_Free_Trade.htm

http://www.ontheissues.org/Celeb/George_Bush_Sr__Free_Trade.htm

http://www.ontheissues.org/Celeb/Bill_Clinton_Free_Trade.htm

http://www.ontheissues.org/Celeb/George_W__Bush_Free_Trade.htm







 

november3rd

(1,113 posts)
45. How about this:
Mon Jun 15, 2015, 04:15 PM
Jun 2015

Instead of Fast track and the up or down vote on a giant trade deal that screws the American people, we thank Congress for looking out for our interests for once, and encourage them to submit the trade deal for amendments one chapter at a time.

Summers is all worried about our "leadership" of the world.

Our government couldn't even lead a Pledge of Allegiance to the Flag.

Who are we fooling? America has never been and never has supposed to have been about "leading the world" in military or economic affairs. We're supposed to provide our citizens with a refuge from the corruption and special interest influence of the rest of the world.


asiliveandbreathe

(8,203 posts)
46. The United States - unable to support global trade agreements that IT initiated
Mon Jun 15, 2015, 04:25 PM
Jun 2015

NO larry - corporations initiated IT and we the American people have had enough -

Does Larry have knowledge of the working parts of the TPP? - nobody else does....

larry you had your day screwing the US and the American people...take a hike!

From a WOMAN who learned math and science....

wolfie001

(2,279 posts)
49. Heidious sack of shit!
Mon Jun 15, 2015, 05:54 PM
Jun 2015

This nasty fuck is held in high regard in Democratic circles? Makes me want to puke!

Art_from_Ark

(27,247 posts)
62. OMG! OMG!
Tue Jun 16, 2015, 07:50 AM
Jun 2015

If we don't pass the TPP right freaking NOW, my stock portfolio will suffer, I mean, the 12 TPP countries will go to war with each other!!!!! I mean, if multinational corporations can't run the show in these countries I mean, CHINA!!!!! They're building port facilities in Colombo, SriLanka DONCHA KNOW???!!! How the hell are we gonna contain Red Freaking Communist China if we don't pass the TPP?????? China MUST be stopped, goddammit, even if it means total corporate takeover of all 12 TPP countries!!!!!!

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