SEC Denies A Second Application To List Bitcoin Product

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

SEC denies a second application to list bitcoin product

By Trevor Hunnicutt | NEW YORK

The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.

The SEC announced in a filing its decision denying Intercontinental Exchange Inc’s NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset’s price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss.

“The Commission believes that the significant markets for bitcoin are unregulated,” the SEC said in its filing, echoing language from its decision earlier this month on the application by CBOE Holdings Inc’s Bats exchange to list The Bitcoin ETF proposed by the Winklevoss brothers. On Friday, Bats asked the SEC to review its decision not to allow that fund to trade.

“We are reviewing the SEC’s order and evaluating our next steps,” said Daniel H. Gallancy, chief executive officer of SolidX Partners Inc, a U.S. technology company that provides blockchain services. NYSE did not immediately respond to a request for comment.

Bitcoin had scaled to a record of more than $1,300 this month, higher than the price of an ounce of gold, as investors speculated that an ETF holding the digital currency could woo more people into buying the asset.

But after denial of the Winklevoss-proposed ETF, the digital currency’s price plunged as much as 18 percent. It has rebounded partially since then and was at $1,041 on Tuesday, roughly unchanged from the previous day.

Bitcoin is a virtual currency that can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government.

Yet bitcoin presents a new set of risks to investors given its limited adoption, a number of massive cybersecurity breaches affecting bitcoin owners and the lack of consistent treatment of the assets by governments.

There is one remaining bitcoin ETP proposal awaiting a verdict from the SEC. Grayscale Investments LLC’s Bitcoin Investment Trust, backed by early bitcoin advocate Barry Silbert and his Digital Currency Group, filed an application last year.

(Reporting by Trevor Hunnicutt; Additional reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Cynthia Osterman)

China Will Be The Straw That Will Stir The World’s Economic Drink?

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

HOME » BUSINESS » FINANCE

Forum hears pledge of more effort to revitalize China’s real economy

CHINA will remain committed to ensuring innovation drives development and will increase efforts to revitalize the real economy, Vice Premier Zhang Gaoli said yesterday.

“The real economy is the foundation of economic growth and we will optimize it,” Zhang said at the opening ceremony of the China Development Forum 2017 in Beijing.

China will improve its capabilities in scientific innovation and boost the development of strategic emerging sectors and modern manufacturing while transforming traditional industries with new technology and business models, he said.

The government will continue to promote entrepreneurship and the “Internet Plus” plan to meet the diverse needs of the market and Chinese companies will be encouraged to use craftsmanship to establish competitive brands that can stand the test of time.

China will further reduce costs for enterprises by streamlining administration and pushing forward tax reforms, and prevention and control of financial risks will be elevated to a higher position on the government’s agenda, Zhang said, adding that China will manage risks in bad loans, bond default, property bubbles and Internet finance to avoid systemic financial risks.

To stimulate growth and improve market vitality, China should increase supply-side structural reform, Zhang said.

Highlighting the basic tone of “seeking progress while maintaining stability,” he underscored the need for efforts to maintain growth, ensure employment and counteract risks from home and abroad.

China will forge ahead with its supply-side reform, cutting steel production capacity by around 50 million tons and coal capacity by over 150 million tons this year, he said.

The country will prioritize de-stocking unsold houses in third and fourth-tier cities as it fights speculation in the housing market, he added.

Zhang restated China’s commitment to better air, water and soil quality.

The government will speed up the reform of state-owned enterprises, make concrete mixed-ownership reforms in sectors such as power, petroleum, railways, civil aviation and telecommunications and open the market to more private investment, Zhang said.

On the close ties between China and the world economy, he stressed the need to advance globalization and fight protectionism.

“China is willing to join efforts with the international community to steer the world economy toward strong, sustainable, balanced and inclusive growth,” he said.

The country will continue to implement its opening-up strategy and advance the Belt and Road Initiative, he added.

China will host the Belt and Road Forum for International Cooperation in May. Taking part in this “new chapter in win-win cooperation” will be more than 20 heads of state and government, more than 50 leaders of international organizations, more than 100 ministerial-level officials, and more than 1,200 delegates.

Demonetisation Be Damned! The Indian Rupee Is On A Tear

(THIS ARTICLE IS COURTESY OF QUARTZ INDIA)

LOOK AT IT FLY

Demonetisation be damned! The Indian rupee is on a tear

March 17, 2017 Quartz India

It’s been a great week for the Indian rupee.

On March 16, at Rs65.41 per US dollar, the currency hit a one-year high against the greenback.

Much of the strengthening has to do with the ruling Bharatiya Janata Party’s (BJP) recent electoral wins in Uttar Pradesh and Uttarakhandand solid performances in two other states. The strong showing reflects just how well the party is positioned to sweep the next general elections in 2019 and hand Narendra Modi a second term as prime minister. Some of that magic is rubbing off on the markets.

“Since the start of the week, equity markets and the Indian rupee have rallied sharply in response to the strong performance of the main ruling party in recent state elections,” DBS Bank said in a March 16 report.

So far, the Indian currency has been the third-best performing in Asia in 2017. The rupee has gained 3.4% this year against the US dollar, only trailing the South Korean won and the Taiwanese Dollar.

Meanwhile, the US Federal Reserve’s interest rate hike on March 15—only the third since the economic crisis of 2008—hit the dollar. When the US dollar falls, capital outflows from emerging markets are restricted, thus strengthening local currencies like the Indian rupee.

The rupee’s strengthening comes after a free fall triggered by Modi’s move to demonetise 86% of the currency notes (by value) in November 2016. Initially it had been estimated that the currency ban would dent the GDP and take a toll on the economy.

In January, a Reuters poll of some 30 foreign exchange strategists had estimated that the Indian currency could see a record fall this year because of the currency ban. But India’s Central Statistical Office’s estimates show that the economy grew at 7% during the October-December 2016 quarter, and the rupee is holding strong.

One reason for the rupee’s surge is also that the macro-economic factors that influence a currency—inflation and current account deficit (CAD)—are looking good for India at the moment. While inflation is being restricted in its safe zone of sub 6%, India’s CAD (the excess of imports over exports) has also been falling.

What next

A strong rupee is good news for corporate India. Many firms hold debt in foreign currencies, so a fall in the exchange rate means their interest outgo will reduce. “Many Indian entities including short-term trade finance people remain unhedged for their offshore liability. They (companies) are likely to have gained from the rupee’s sharp rise in the last few days. At least, interest liability has reduced, adding to balance sheet gains,” Jayesh Mehta, country treasurer at Bank of America told the Economic Times.

However, the Reserve Bank of India (RBI) could soon step in to stabilise the rupee’s movement. Some reports suggest that the central bank already is buying dollars through public sector banks.

“The rupee appreciation, we feel is not sustainable and would revert to the range of Rs66-66.5 range, to begin with as the fundamentals do not warrant such unbridled enthusiasm,” a report by CARE Ratings said. “The outcome of the elections has been the main driving force. A strong rupee may not be good for our exports and the RBI is cognizant of the same.”

Toyota May Build Its First Factory In Saudi Arabia: Allowing Women To Drive Would Double Market

(THIS ARTICLE IS COURTESY OF THE SAUDI NEWS AGENCY ASHARQ AL-AWSAT)

Riyadh – Attesting to the undeniable investment attraction that is Saudi Arabia, Japan’s market giant motor corporation, Toyota, announced plans to launch its first ever production factory in the Kingdom.

Such an announcement confirms that grand-scale companies trust in Saudi economy and view it with optimistic potential.

Speaking at a Japan-held forum, Chairman of the Japanese Business Federation Sadayuki Sakakibara, explored economic and investment cooperation between the Kingdom and Japan.

Sakakibara stressed the importance of the Kingdom’s economic role for Japan and the keenness of the Japanese business sector toward the achievement of the strategic economic and developmental objectives of the Saudi-Japanese Vision 2030 that aims to bolster bilateral cooperation

Earlier, a memorandum of understanding was signed by the National Industrial Cluster Development Program (NICDP) and the Toyota Motor Corporation for the feasibility study of an industrial project to produce vehicles and parts in the Kingdom.

“The study would take into account the evaluation of development of a local supply base using materials produced by major Saudi companies like Sabic, Maaden, Petro Rabigh, and other major industrial companies in the Kingdom,” the official Saudi state news agency reported.

It further aims to enhance the development and attraction of a Saudi workforce and put in place the adequate training programs.

Abdul Latif Jameel, as a local distributor for Toyota, will be also taking part in the joint feasibility study.

Toyota remains the leader in Saudi and other Gulf Cooperation Council (GCC) car markets with more than 500,000 units sold in the GCC in 2016, according to SPA.

Moreover, on the third day of the fourth leg of a seven-nation Asian tour, the king attended the Saudi-Japanese Vision 2030 business forum aimed at strengthening bilateral ties.

King Salman was received at the forum by Minister of Economy and Planning Adel Fakeih and Japanese Minister of Economy, Trade and Industry Hiroshige Seko.

Turk President Er- Dog’ The Dictator Dares To Threaten EU Countries About Democratic Values?

(THIS ARTICLE IS COURTESY OF REUTERS NEWS AGENCY)

By Ercan Gurses and Humeyra Pamuk | ANKARA/ISTANBUL

Turkish President Tayyip Erdogan on Tuesday warned the Netherlands that he could take further steps in a deepening diplomatic row, while a government spokesman in Ankara said economic sanctions could be coming.

Incensed by Dutch and German government bans on his ministers from speaking to rallies of overseas Turks, Erdogan also accused German Chancellor Angela Merkel of siding with the Netherlands in the fight between the NATO allies.

Turkey suspended high-level diplomatic relations with the Netherlands on Monday, banning the Dutch ambassador from the country and preventing diplomatic flights from landing in Turkey or using its airspace.

Those steps were taken after Erdogan branded the Netherlands “Nazi remnants” at the weekend for muzzling his ministers.

“The cabinet took action yesterday but there are many other things that could be done against the Netherlands,” Erdogan said in a speech broadcast live on television.

“We will show those who think they can get away with an apology that they are making a mistake,” said Erdogan, who is campaigning for an April 16 referendum on boosting his powers and has been looking to the large number of Turks living in Europe to help secure victory.

Deputy Prime Minister Numan Kurtulmus later told broadcaster CNN Turk that economic sanctions could be in the works.

“Pressure will continue against the Netherlands until they make up for what they did. We’ve started with the political, diplomatic sanctions, and economic sanctions may follow,” he said.

Erdogan has threatened to take the Netherlands to the European Court of Human Rights over the ban on his ministers, which both the Dutch and Germans have imposed citing fears of unrest.

Dutch police used dogs and water cannon on Sunday to disperse hundreds of protesters waving Turkish flags outside the consulate in Rotterdam. Some protesters threw bottles and stones and several demonstrators were beaten by police with batons, a Reuters witness said. Mounted police officers charged the crowd.

SAARLAND, BELGIAN BANS

The small western German state of Saarland said on Tuesday it would ban political campaigning by foreign politicians.

“Internal Turkish conflicts have no place in Germany. Election appearances which put at risk domestic peace in our country must be banned,” State Premier Annegret Kramp-Karrenbauer said in a statement.

“The atmosphere that has been created by Nazi comparisons and insults must not be allowed to escalate,” she said.

The Belgian city of Antwerp said it would not allow a politician from the nationalist MHP party to speak at an event, although Ali Guler was still set to appear on Sunday at a Turkish restaurant in Genk, in the east of the country.

While Turkish law forbids election campaigning abroad and in diplomatic missions, ministers are circumventing the ban by holding what they say are cultural events with Turkish citizens.

Erdogan has said that those who oppose the referendum, are aligning themselves with terrorists. He has also accused European states, including Germany, of harboring terrorism, an allegation they deny.

SHARP WORDS FOR MERKEL

EU states are also unhappy with what they see as an increasingly authoritarian tone from Turkey and the spat is likely to further dim Ankara’s prospects of EU membership.

EU foreign policy chief Federica Mogherini and EU enlargement commissioner Johannes Hahn called on Turkey to moderate its language and avoid further escalating the dispute.

Erdogan renewed his attack on Merkel after she criticized his “Nazi remnants” jibe against the Dutch.

“The countries that have embraced this thuggery have lost all their credibility. The Chancellor of Germany has come out and said she supported the Netherlands. We know that you are no different from them,” Erdogan said.

Dutch Prime Minister Mark Rutte said the Turkish sanctions, while “not too bad”, were inappropriate as the Dutch had more to be angry about.

Ankara’s foreign ministry said the European Union was exercising democratic values selectively.

“It is very grave for the EU to hide behind member country solidarity and stand by the Netherlands, which has clearly violated human rights and European values,” it said.

(Additional reporting by Tuvan Gumrukcu, Ece Toksabay and Tulay Karadeniz in Ankara, Daren Butler in Istanbul; Toby Sterling in Amsterdam; Madeline Chambers in Berlin and Robert-Jan Bartunek in Brussels; Writing by David Dolan; Editing by Jon Boyle and Toby Davis)

South Korea Actively Considering Filing A Complaint With The WTO Against China

(THIS ARTICLE IS COURTESY OF REUTERS NEWS) 

South Korea’s government will consider filing a complaint to the World Trade Organization against what they described as China’s trade retaliation after Seoul agreed to deploy a U.S. anti-missile system, the ruling party said on Tuesday.

Beijing is widely believed in South Korea to be retaliating against some of its companies and cancelling performances by Korean artists after South Korea’s decision to deploy the Terminal High Altitude Area Defense (THAAD) system.

“We will actively consider whether China’s action is in violation of the South Korea-China free trade deal, while stepping up efforts to minimize damage on South Korean industries,” Lee Hyun-jae, chairman of the Liberty Korea Party’s policy committee, said after meeting senior government officials.

China rejected applications by some Korean carriers, including Jeju Air (089590.KS), to add charter flights between the two countries in March, Yonhap News Agency said on Tuesday, in what is seen as China’s latest retaliation against South Korean firms. Their applications for charter flights to China were rejected for January and February, with no reason given, Yonhap said.

The Chinese government last week ordered tour operators in China to stop selling trips to South Korea, days after the Seoul government secured land for the THAAD system from Lotte Group.

Lee said on Tuesday the government had since agreed to provide an additional 50 billion won ($43.3 million) worth of “special loans” to tourism companies that are experiencing business difficulties.

Chinese authorities have also closed nearly two dozen of Lotte Group’s retail stores following inspections, Lotte said on Monday.

China objects to the THAAD deployment, saying its territory is the target of the system’s far-reaching radar. South Korea and the United States have said the missile system is aimed only at curbing North Korean provocations.

(Reporting by Daewoung Kim and Hyunjoo Jin, Additional reporting by Joyce Lee; Writing by Hyunjoo Jin; Editing by Paul Tait)

Public Transportation Nice, Côte d’Azur French Riviera

Source: Public Transportation Nice, Côte d’Azur French Riviera    THIS ARTICLE IS FROM THE BLOG SITE OF MS. PENNEY VANDERBILT—PLEASE CHECK OUT HER SITE IF YOU LIKE TRAINS AND OR TRAVEL OR ARE A FAN OF TRANSPORTATION LOGISTICS.

This Is How President Trump Is Going To Commit Treason Against The Working Class Who Voted For Him

 

First I would like to say to the readers of this article that I hope that I am wrong on this issue, but I don’t think that I am going to be wrong about President Trump and his agenda. As most of the people here in the States know, it was the white working class male voters who helped a whole lot in getting Mr. Trump elected last November. I just said working class though I almost said ‘middle-class’, the reason for saying working class instead is because as almost all of us know, the middle class has been sinking into the lower middle class arena for several decades now.  Our American financial society used to always be considered to be labeled into mainly three classes, you had the rich folks who tended to own the businesses where the middle class/working class earned their income while hoping to be able to have a decent life style. Then you had the working poor who were busting their behinds each day in menial jobs who were just trying to survive at all. These folks tend to be less educated and could only find minimum wage type jobs.

 

I was born in 1956 in a small  town in southwest Virginia to parents who never had the chance to go to college and were factory workers their whole lives. I learned early on that these factories only paid the minimum wage, what they had to by law. During the early 1960’s this wage was $1.25 per hour and this is what they both made. These factories only paid overtime because they were forced to by law but they did not have to give any benefits to their employees like insurance of any kind, or holiday pay, and they did not. Some politicians, mostly just Republicans, who argue that the people making the minimum wage are only teenagers and kids who are in school working part-time. People who live in the real world know that this argument is total BS. If these politicians lived in the real world they would also know that many millions of Americans work for companies that only pay between 10-50 cents per hour above whatever the minimum wage is at the time. Simply put almost all companies only pay their employees as much as they are forced to pay by law. The reason is simple and this reason is honest and true, the less you as an employer pay out in expenses the higher the profit amount that goes to the CEO’s and to the stockholders. This is just like in politics, the two parties want all of the credit on good bills and they are not willing to share in the glory. With companies the top end wants higher profits so that they can get bigger paychecks, the Stock Market then reinforces this theology of greed. Throughout human history it has been true that the people who are physically making the products receive the lowest income. Any pie is only finite, they are only just so large, their pieces are just capable of being so big, the trouble is when it comes to business everyone is wanting a bigger slice of that pie and the only way to achieve this is to take away from others who are in that pie pan with them.

 

For 14 years I lived in the Morristown Tennessee area so I am going to use Berkline as an example of greed and of not caring anything about the ‘working class’. When I moved there I went to change over my car plates and driver’s license as the law requires. I went there on a Monday morning shortly after they opened for business. When I came into the building there were two rather long lines of young Hispanic folks already there so I just fell into the back of a line. A lady that worked inside noticed me and she came out and got me and took me inside. When I asked her about the two lines of folks she told me that they were only there to get a state I.D. so that they could go to work, they weren’t there to do the same things I was there for. While doing the paperwork for me she told me her story about Berkline. She said she had worked there for 14 years and was only making about 25 cents above the  minimum wage. She said that one Monday morning as she was at her job station waiting for the ‘get to work’ buzzer to sound that her foreman came up to her with a very young Hispanic male who couldn’t even speak English and told her that this was her replacement that she was fired. You see, the company was busing in Mexican folks to take the local folks jobs. Think about it for a moment, you as a company fire your experienced workers who are barely making the minimum wage for people who have no experience, why would you do that? The answer is simple, the new hires were being paid less than the minimum wage and they knew that these folks would work hard and that they were afraid to complain about the work or the working conditions. Berkline was the largest employer in Morristown at that time and they basically fired almost all of the local workers. This situation lasted for a few years then the company decided it was cheaper to quit shipping workers up there from Mexico and just close the Morristown factory and move their operation to Mexico, so they did. The local economy lost hundreds of jobs at it really hurt the local economy. Now this type of issue is a big part of what Mr. Trump’s campaign rhetoric was about, punishing companies who do and or have done this type of thing. By the way, Berkline is the company that makes Lazy Boy furniture.

 

Now to the meat of this article. As we all know Mr. Trump is very pro business and I do not have any problem with this fact. Yet even though he says he will bring the “good” jobs back to America and he is/was talking about manufacturing jobs, as he has often said the “we” here in America don’t make anything any more. This sounds great and I hope he can do it. He also talks about lowering the business income tax down to about 15% and I do not have a problem with that either, as long as all the loopholes are eliminated so that they are actually paying that 15%.  Mr. Trump has a history of bashing Union workers and their Unions because they make too much money. He has recently bashed the Auto Industries and then he bashed the workers and their Union at the Carrier Air Conditioner factory in Indianapolis Indiana for the same thing. He very obviously believes that Union workers are lazy and overpaid. Mr. Trump has also spoken out several times about the minimum wage being to high as he has said ‘companies can’t afford it’. So here is what I believe Mr. Trumps ideology is about ‘bringing the good jobs’ back to this Country. His policies may help to bring jobs here to the States and they may well be industrial manufacturing type of jobs. But, here is my concern, let’s say a new steel mill opens back up in Bethlehem PA and they hire 500 workers to fill those open jobs, at $5.00 per hour with no benefits of any kind. Would this be a ‘good’ job for the employees? If he is able to get rid of the minimum wage and overtime laws (which he has also said he favors because of the expense to the company’s) Americans  will find themselves working ‘menial’ jobs like sales clerks and at burger joints like McDonald’s for two or three dollars per hour.

 

Before you say that this can’t happen, that Mr. Trump would never do something like this I want you to consider two pieces of facts. 1) Think about it , all of Mr. Trump’s businesses  products he has them made in third-world countries. The reason is very simple, higher profits for him personally. He has his products made in countries where there is no EPA laws to worry about, no minimum wage laws so the sweat shops can employ children and women at a dollar per day wages, no overtime pay laws, no benefits, no OSHA laws to protect the workers. He has spent his whole adult life preying on the poorest of the poor for his own personal benefit, do you really think he has all of a sudden changed, really? 2) When a company leaves the States and moves to (for example) Thailand or Malaysia or China they made the move to bring down their costs, if your company is on the Stock Market this is a great move for your stockholders. But who loses when this is done, folks it is the working class people here in the States. Now for the purpose of an illustration let us take cars as an example or shirts or shoes. The company closes their factory in let’s say Michigan and moved their production to Mexico for the purpose of cutting the company’s cost per unit. Have you ever seen the price of that product lowered for the consumer? The company’s aren’t going to move back to the States unless it is financially profitable for them to do so. I honestly believe that Mr. Trump’s intentions are to make himself and his billionaire buddies the recipients of a cash windfall at the expense of the people physically doing the work. You may get a new job because of Mr. Trump’s policies but if it is a $3.00 per hour job but the cost of living doesn’t drop with the wages there are going to be a lot more homeless and starving people right here in the States. Are you really naive enough to believe Mr. Trump gives a damn about you or your family? Like I said at the beginning of this article, I hope that I am wrong about these issues but I seriously doubt  that I am wrong on this.

China Says Trade War With The U.S. Is Not An Option

(THIS ARTICLE IS COURTESY OF THE SHANGHAI DAILY NEWS)

A potential trade war should not be used as an “option” to spoil Chinese-American relations as the two countries are able to resolve bilateral trade disputes through dialogue, Commerce Minister Gao Hucheng said yesterday.

China and the United States, the world’s largest traders, should work together to promote trade and investment, said Gao, speaking at a briefing in Beijing.

A good relationship between the two countries not only benefits both sides but helps global economic growth and recovery amid a still weak momentum, Gao said.

US President Donald Trump pledged during his election campaign to raise import duties on Chinese goods to 40 percent but he has yet to take formal action. He also said he would declare China an “exchange rate manipulator.”

However, in a phone conversation earlier this month to Chinese President Xi Jinping, Trump said that the United States was ready to work with China to take bilateral ties to new historic heights.

Gao said yesterday China would not comment too much on what the US president said during his election campaign, but would focus on the new American government’s attitude toward trade with China.

“As a consensus reached between leaders of the two countries, cooperation was the only right choice for China and the US,” Gao said.

Whatever changes in the US policy toward China, the trade relations between the two nations will eventually return to “the track of mutual benefits and win-win,” he said.

China is now America’s largest trading partner and its third largest export destination after Canada and Mexico, according to a report from the US-China Business Council.

China’s direct investment in America hit a record high of US$45 billion in 2016, a threefold increase on 2015.

Robust bilateral trade and investment have supported some 2.6 million jobs in the US, according to the report.

“A trade war should not become an option,” Gao said. “If the two sides fight, both will be hurt.”

The US last year replaced China as the world’s largest trader as China’s foreign trade declined.

Gao yesterday said China would not seek a “blind expansion in exports‚“ as it could undermine the country’s resources and environment.

China would instead gain new grounds through improved standards, techniques, brands and services.

Addressing China’s tightening inspection on outbound investment since late last year, Gao said measures were being taken to control irrational and blind outbound investment, where companies made huge investment into high risk areas and fields unrelated to their core businesses.

The commerce minister said the government would guide companies to make more prudent and rational outbound investment while improving rules to facilitate outbound investment and protect the rights of investors.

There Is No Reason That Mexico Should Pay For America’s Border Wall

 

Why is it that President Trump or anyone else for that matter thinks that Mexico should pay for a new border wall with the U.S.? Mr. Trump says that Mexico is disrespecting the U.S. because of a yearly trade deficit of about 60 billion dollars. Mr. Trump also said today that we have trade deficits with far more countries than we have surpluses with and how that is going to change. This evening on the CBS Evening News with Scott Pelley they showed a stat on the screen that said the truth is that we have a trade surplus with 132 Nations and a deficit with 102 which equals 234. There is a problem with this stat though, counting Taiwan there are only 196 Nations on Earth! So, how do ‘we the people’ believe anything that comes out of D.C. or from the major news outlets?

 

Now, regarding that 60 billion dollar deficit with Mexico. If this figure happens to be correct and Mr. Trump actually wants to equal out the numbers there is a simple way to do it. Mr. Trump the last couple of days has been talking about putting a 20% tariff on the imports from Mexico to pay for this border wall. I guess that he does not realize that Mexico could and most likely would retaliate by putting tariffs on imports from the U.S., so, this kind of open-ended policy would only cause there to be more paperwork and more animosity with our third biggest trading partner. If Mr. Trump wants to use a more fine line policy toward Mexican imports he could simply go after the U.S. companies who have already moved to Mexico for the much lower wages and non-existent EPA. Tonight on the CBS Evening News they said that the biggest dollar item that we import from Mexico is vehicles, cars, pickups and the such. During his campaign Mr. Trump said several times that he would put a 35% tariff on companies who moved their jobs off shore then sells the products back in the U.S.. Simply put that tariff on all these U.S. companies  and if he wants to, pay for the wall with that money.

 

I personally have no issue with a company like Ford or GM building factories in other countries for the purpose of selling their products in that country. It only makes good business sense to make a product in Mexico, India, China for the purpose of cutting through the red tape and the cost of shipping. This is how and why here in the U.S. car makers from all over the world have factories here. Think about it for a moment please, Subaru, BMW, Mercedes, Volvo and many more have built factories here and employ many thousands of U.S. workers, so it is only fair that U.S. companies can do the same thing. But if you take jobs away from your own countrymen you should not be financially rewarded for your treason.

 

I have been all over the U.S. Mexican border many times, I know all of this land, I have been to all of the Border Crossings many times. One of the issues I have considered many times during the years when I would be down in the border areas is exactly how and where you would put any such a wall. When you are wanting to put a very heavy wall next to a large waterway where you are going to really need to put it about twenty feet below the surface to keep people from digging under it you are going to run into the fact that the ground will have a wet base to it especially in that sandy ground, then you have a wall at least twenty feet tall, this wall will not be solid because the ground would not be secure enough. Another issue is that the wall will be a horrible eye sore that blocks out the beauty of this area. Also, how many crossing points would we build in? Think about all of the people of the region on our side of the border who go to the Rio Grande for relaxation and for their vacations, that would put an end to the vacation industries in the regions thus hurting many communities costing jobs and cutting tax revenues for the towns along the border.

 

Now, let’s take this issue to a personal level. Let us say that you and I both own a home and that we are next door neighbors. Now let’s say that I don’t like your kids or dogs coming onto my property so I decide I want to build a high fence to keep them out. First I am going to have to put this fence on my own side of our border, I can’t make you build a separation fence on your property, I have to build it on mine. Can you think of a reason that any Court of Law would tell you that you would have to build this fence on your land or that you were obligated to pay for it? Personally I can’t think of any such reasons, can you? Now back to a national level, why in the heck should Mexico have to pay a single penny of the cost of such a wall? If Mexico decided to build a wall on their side of the Border, why should you and I have to pay the cost of it?