I’ve probably had too many beers tonight to properly write about this. And, I will write about this on more than one occasion.
But, for tonight, let me state this clearly and unambiguously. The closing of the Ex-Im bank is horribly un-American.
For those who do not know, the charter for the Export/Import bank was not renewed. It expired last night. It is a governmental agency which facilitated loans which allow some of our businesses to sell to foreign entities. There are 59 other nations which have a similar governmental bank, operating to do the same thing the Ex/Im bank does.
Don’t get me wrong, I’m all for shutting it down. But, before one does, one must set in place a vehicle to supplant it through the private sector. This was not done.
People have become so wedded to ideology that they’ve failed to know or understand why such ideology is preferable. The goal isn’t free trade, the goal is to do what makes the people more prosperous! Free trade is simply the vehicle to make it happen.
Here’s a story about this issue …. and I’ll post a couple of excerpts ….
…. Boeing employs about 80,000 people in Washington state, nearly 15,000 in Missouri and 8,000 in South Carolina. Executives at Boeing and General Electric Co. have warned that without credit support from Ex-Im, they could be forced to move production overseas to compete with foreign rivals that enjoy similar backing from their home governments….
…. Boeing customers are among the biggest recipients of Ex-Im Bank loan guarantees. In the most recent fiscal year ended Sept. 30, 2014, the bank helped Boeing sell 61 widebody planes to foreign airlines by guaranteeing more than $7 billion in loans.
Currently, the Ex-Im bank is servicing about $100 billion in loans.
But, let me tell you about the “Boeing” employees. I work in a plant of about 200 workers. We’re just one plant of many working for the same company. I do something only 2 other people in the world do. I work with them. The thing we do …. we don’t sell our product to Boeing. But, the people we sell our product to, sells our product to Boeing. But, many, most people in this plant work and make products which end up at Boeing. The 100,000 + Boeing employees only scratches the surface of the workers who may be effected by the failure to renew the charter of the Ex-Im bank.
The company I work for also contracts with entities such as Airbus, which has an equivalent to the Ex-Im bank to support them.
Free trade only works when everyone is playing by the same set of rules. I’m a firm believer in free trade. It works, always. But, it is only free trade when everyone is trading by the same set of rules and standards.
I’m all for ending the Ex-Im bank. But, before one does that, one must set in place a structure which allows for a private entity to supplant it!!!! There is none in the US!!!!!!! Imbeciles!
Will one pop up? Maybe …. probably not. By the time one could, we’ve already lost. We’re talking about a bank capable of being on the scale of adding $100 billion in serviceable loans!!!! What dumbass believes some private entity can suddenly pop up and do what the Ex-Im bank is doing? Is it that people don’t believe Boeing should be selling to foreign nations? Or that I should work for France rather than the US? What special sort of stupid doesn’t understand that it’s better that my work product should stay at home rather than export the wealth I created to Europe? …………
Note!!!!! Okay, I understand the way I worded this may be confusing to some people. Please allow me to expound ……
I work for a company, in which Boeing is the ultimate beneficiary. What I do and the pay I make is agreeable (barely) to me. It provides for me and mine. Other people, American workers, handle what I did and it provides for them and theirs. And then, they send it on to Boeing employees, and what they do with it allows for them and theirs to be provided for. Isn’t that nice?
But, without the Ex/Im bank, if I still retain a job, it is likely the ultimate beneficiary of my work product will probably be France and the Eurozone ….. isn’t that nice? I mean, as an American?
I despise globalists. I despise people wedded to an ideology without thought. You can’t, or, rather, you shouldn’t simply yank the floor out from underneath the people you’re supposedly trying to help. Dumbasses!