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
Romeo.lima333
(1,127 posts)freedom isn't free.
FreakinDJ
(17,644 posts)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)American investors will also be able to be paid off with foreign workers' taxes.
olegramps
(8,200 posts)Romeo.lima333
(1,127 posts)Hoyt
(54,770 posts)Romeo.lima333
(1,127 posts)Hoyt
(54,770 posts)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)"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)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)and just in case
BrotherIvan
(9,126 posts)LOL
Autumn
(45,120 posts)Fuck him and his ilk.
arcane1
(38,613 posts)Worse, lecturing us with vague nonsense about "Larry Summers"?
People still listen to this hack?
villager
(26,001 posts)I'm a-skairt!
Art_from_Ark
(27,247 posts)and the boogeyman is in the closet!
catnhatnh
(8,976 posts)...or the violence begins...
NRaleighLiberal
(60,024 posts)the uninformed public shake in their boots. We are so, so screwed.
This is like a particularly bad parody of The Usual Suspects
peacebird
(14,195 posts)NRaleighLiberal
(60,024 posts)Jack Rabbit
(45,984 posts)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.
bemildred
(90,061 posts)Scuba
(53,475 posts)truebluegreen
(9,033 posts)Alittleliberal
(528 posts)Go away already Summers. No one wants to hear from you.
appalachiablue
(41,182 posts)actually. Arrogant buffoon-
Bonhomme Richard
(9,000 posts)99th_Monkey
(19,326 posts)hobbit709
(41,694 posts)on point
(2,506 posts)support the UN more
Man from Pickens
(1,713 posts)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)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)... 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)Infuriating, but then again therapeutic in a way; I love seeing a plutocrat scorned.
Moliere
(285 posts)These people have no shame.
Art_from_Ark
(27,247 posts)Neither do their shills.
AZ Progressive
(3,411 posts)About Larry Summers:
From wikipedia: https://en.wikipedia.org/wiki/Lawrence_Summers
Robert Rubin was of course a Goldman Sachs executive
jomin41
(559 posts)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)Sure, Democrats would be held accountable. Since trade is complicated, and hard to explain.
From link:
"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)CanonRay
(14,119 posts)The .01%ers? I don't trust Larry Summers as far as I can throw him.
SoapBox
(18,791 posts)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.
TimeToEvolve
(303 posts)a certain memo comes to mind when L. Summers is mentioned..
cascadiance
(19,537 posts)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)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.
INdemo
(6,994 posts)chapdrum
(930 posts)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.
diane in sf
(3,919 posts)Joe Chi Minh
(15,229 posts)ananda
(28,881 posts)Shut up, Summers!
americannightmare
(322 posts)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)"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)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)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....
elehhhhna
(32,076 posts)wolfie001
(2,279 posts)This nasty fuck is held in high regard in Democratic circles? Makes me want to puke!
sendero
(28,552 posts).. if Summers likes it, it MUST be a total piece of crap.
elehhhhna
(32,076 posts)hatrack
(59,593 posts).
LiberalElite
(14,691 posts)Lions and Tigers and Bears?!?!??!!??? (hat tip to Wizard of Oz)
forest444
(5,902 posts)"Nice economy you've got there. Shame if anything should happen to it."
Owl
(3,644 posts)Art_from_Ark
(27,247 posts)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!!!!!!