U.S. image may take a hit from failed ports deal, economists say

[ECH1969]

The decision by Dubai Ports World to divest its U.S. holdings may have defused a potentially explosive clash between President Bush and members of his own party.

But it is also likely to keep the heat on a simmering belief abroad that U.S. markets can sometimes be more trouble than they're worth, economists and experts on foreign trade said Thursday.

"People are making decisions to invest elsewhere than in the U.S.," said Rachel Bronson, a Mideast expert at the Council on Foreign Relations.

"The U.S. is dependent on foreign investment," said Ben Carliner, of the Economic Strategy Institute. "This sends out a worrying message and foreign investors are going to hear it."

http://www.ledger-enquirer.com/mld/ledgerenquirer/news/nation/14060626.htm

[bpilgrim]

1. GLOBALIZATION's Slippery Slope - they're scared to death, bet...

more...
http://GlobalFreePress.com

peace

[babylonsister]

2. US image-how low can it go, and now it's our fault?

:eyes: I don't think so!

[skylarmae]

6. I concur -

putting 'our own house in order' should take priority and trump everything else.

[stevietheman]

3. One word: Propaganda

This is what's known as an attempt to trick the American people into giving all of America's assets away to the "free market".

The reality is that our market is already extremely open to the world. Duh. Just look at the trade deficits.

Not. buying. the. propaganda.

[Just Me]

8. Since when did fucking "economists" invest in human rights or interests?!?

Damn straight I'm not "buying" this latest "perception management" crap!!!

How many times are people going to CONSUME this crap before they get the freakin' OBVIOUS: money-grubbing corporacrats EXPLOIT people's desire for "freedom" and "liberty" and "democracy" and "opportunity" and "justice" to funnel human resources into the hands of the heartless few.

[Lost-in-FL]

4. Well...

:nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :banghead: :banghead:

[physioex]

5. Well....

It would be a nice start if they sent back all the outsource IT jobs......

[Nostradammit]

7. Yeah, we had a sterling image until the Ports World ruckus

Fucking Hell, the bullshit is just getting deeper and stinkier!

[Just Me]

9. LMFAO!!!!

:rofl:

Ohhhh,...yeah,....torture, aggressive warring, suspension of civil rights, violation of oathes, domestic spying, overt propaganda, conspiratorial revenge against truth revealers, mismanagement of tens of billions of national treasure, secret gulags, domestic spying, no-bid contracts to cronies, secret meetings on national energy, major contributions to increasing global warming (with the label, "Clear Skies"), dramatic increase in poverty, severe underfunding of education, huge tax benefits to the super-rich, LYING about WMDs and circumstances in Iraq, HIDING soldiers' injuries and deaths,....

Fuck! I'm naming the corruption and crimes off the top of my head. Imagine if we actually THOUGHT, together, about all the freakin' abuses by this administration!!!!!

[Wilms]

10. Thank You. n/t

[Nostradammit]

13. All perfectly understandable measures-

BUT NOT ALLOWING FOREIGN TAKEOVER OF YOUR PORT SECURITY?????!!!

THAT'S DISGUSTING!

AND RACIST, TO BOOT!



Fuckin' 'ell.

[fshrink]

14. Uh... You forgot election-rigging. Twice.

[EuroObserver]

16. Don't forget contaminating the world with Depleted Uranium either:

See here: http://www.globalresearch.ca/index.php?context=viewArticle&code=SHR20060302&articleId=2057

[GoddessOfGuinness]

11. I beg to differ...

The only image that will suffer is that of an America which blindly follows its nitwit leader wherever he tells it to go...and he usually tells it to go straight to hell.

[lovuian]

12. Economists have been kissing Bush's and Dubai's butts for

quite awhile!!!

[Voltaire99]

15. The desperation is just beginning.

Buried in this propaganda piece is a surprisingly clear passage:

Austin Goolsbee, a University of Chicago Graduate School of Business economist, explained that foreign investment in American assets and securities is funding the yawning U.S. trade deficit and propping up the dollar. Without this investment it would impossible for American consumers to spend more than they save and that trend, in the face of anemic job growth and business spending, is largely responsible for the robust U.S. economic growth over the past several years.

"We're spending high and saving low," he said. "It has to come from somewhere."

Right. But why should it?

When Americans are being told to sell their port security in order to help fuel higher home borrowing and further credit card binges, you know the tipping point is in sight.

Cheap foreign investment is drying up. The housing bubble is leaking (crazily in some places, see: http://thehousingbubbleblog.com), and it will take down both jobs growth and the equity borrowing addiction.

And even as the funny money is disappearing, some supernaturally big debts are coming due.

[ShockediSay]

17. ...for the corporate lobbyMob n/t

[NYC]

19. Tax cuts for the rich and permawar are expensive.

We shouldn't have run up the debt.

[ConcernedCanuk]

18. United States compared to a banana republic - !!!!

.
.
.

From a related article:

Dubai to sell stake in U.S. ports

/snip/

"It demonstrates to other countries that the United States is not a reliable place for investment when politics are involved," said Rep. Jim Kolbe, R-Ariz., chairman of the House Appropriations foreign operations subcommittee.

He added that, in his view, the United States "looks a little bit like a banana republic" in its handling of the controversy.

[salin]

20. er... Mr. Carliner...

misidentification of the problem, perhaps? As you state: "The U.S. is dependent on foreign investment," ... yes - and THAT is the problem (huge deficit spending - which makes the US MORE and MORE dependent upon foreign investment) - it is a much bigger problem that the hit the US image may take from the failed Ports Deal.

[Brooklyn Michael]

21. Yes, because our international image was so GOOD before...

5+ years of telling the world "Ehhh, go cram it with walnuts, bucko" was making us SO popular...:eyes:

[David__77]

22. This is absolutely true. It's very bad for US leadership of globalization

I have no problem with that. I don't want the US to be leading the global economy. I prefer a perfectly sovereign agglomeration of national economies. But I really must say that if Clinton were president, this deal would have happened, with Democratic support (with a minority of exceptions). The 90s were the heyday of neoliberal globalization. If we are lucky, Democrats will assist the downfall of neoliberal economics by forcing the GOP to retrench for the world economy to some extent. Then Europe and others will emerge and a multipolar world order will come into being all the sooner.