For the first time since the Reagan presidency, the politics in Washington, D.C., are going to strangle the economic growth on both Main Street and Wall Street.
Brazil is threatening to file a lawsuit with the World Trade Organization over the ‘Buy American’ provision of the Obama stimulus bill, and China has added a ‘buy Chinese’ provision to their $586 billion stimulus bill.
The result isn’t going to be pretty, and this is the time to play defense and reduce U.S. equities.
Regards,
Tony
About Uncommon Wisdom
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Uncommon Wisdom (UWD) is published by Weiss Research, Inc. and written by Sean Brodrick, Larry Edelson, and Tony Sagami. To avoid conflicts of interest, Weiss Research and its staff do not hold positions in companies recommended in UWD, nor do we accept any compensation for such recommendations. The comments, graphs, forecasts, and indices published in UWD are based upon data whose accuracy is deemed reliable but not guaranteed. Performance returns cited are derived from our best estimates but must be considered hypothetical in as much as we do not track the actual prices investors pay or receive. Regular contributors and staff include Kristen Adams, Andrea Baumwald, John Burke, Amber Dakar, Dinesh Kalera, Red Morgan, Maryellen Murphy, Jennifer Newman-Amos, Adam Shafer, Julie Trudeau, Jill Umiker, Leslie Underwood and Michelle Zausnig.
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{ 7 comments… read them below or add one }
Thank you very much Mr Tony Sagamy for your comments about your insigts,evaluations,etc.
It shows that we have a “community organizer” for President.
Mr. Sagami: It should go without saying that we should all buy American Made. I am going to mention here just a few of the good reasons to buy only what is manufactured in America from American ingredients because here in the USA we have stronger rules for safety. Just about everithing made in China is “trash” and deadly – here are a few examples: the lead contaminated children jewelries that caused many children to become ill and some died. We imported toys painted with lead paint, again harming children. Our pets were poisoned with contaminated pet food with the ingredients coming from China. My family experience was that not only we had to put our pets to sleep but also we spent hundreds of dollars on vetenery cost. Lets not forget the hundreds of deaths and thousand of sickened people from the poisonous substitute for the “Glicerine to be used for medical production of cough sirop in several countries, which happened in 2003-2005-2007, and when the investigation went to China the Chinese government warned them that if they go to visit they will be treated as guest, but if they go to investigate they will have to make a phone call, of course we can guess whom they were going to call. Next: from the New England Journal of medecine as recent as December 2008, 10 countries had gotten the Cinese Heparin (blood thinner) contaminated with a chemical. 13 Hospitals in the United States had given their patients the contaminated heparin. Anybody reading this, if they want more info on the Heparin, go to the website MedicineNet.com and just put in heparin.
These are just the cases that I remember from the top of my head. But if you go to the internet I am pretty sure you can find more. And now Mr. Sagami when I go to the drug store or the groceries store I check where the product was made before buying it, and also fish and produce I make sure it is not from China, and after I get it home and do more resarch if the ingredients were from China I will return the item to the store if possible or it goes into the trash can.
About chinese stocks, I have a few that were suggested to buy sometime last year. They are at the bottom of the pond, I hold on to them hoping that your prediction come true and when they come up for air I will sell them. No, I am not a subscriber of your letter. I do enjoy reading the Uncommon Wisdom. PLEASE TELL EVERYBODY TO BUY AMERICAN MADE BECAUSE IT IS SAFER AND MUCH BETTER AND IN THE END MUCH CHEAPER.
Thank you.
I am sick and tired about hearing how Ronald Reagan cut taxes. He did but he didn’t. Let me explain. True enough Reagan cut taxes but Greenspan convinced congress to increase the social security with holding and don’t forget that he made the postal service return all profits to the general fund even though they were getting no subsidies. The net net that reagan accomplished was less than zero. As all republican presidents he was a bust and the worst president until George W stole that title from him.
The warlords, aka senators, did it again. Their belly button view prevailed! Why not start “buying American” with crude oil? When will these spineless jelly fish ever learn that it takes some guts to get the US into the 20th century?. You read right, I am not talking about 21st century yet for the US of A. How can you get a country forward that still measures in ounces, barrels, and inches? A country in which selling snake oil is qualification for making it big?
The US became so important because of wars, natural resources, and a strong industrial base. The latter two were wasted, i.e. given away for short term profits. Lesson: Financial industry and services do NOT create value. Instead, they eat away what was earned in better times. Happy retirement!
When the U.S. stockmarket tanked I was in China stocks and gold stocks. I thought I would be okay but I took a big hit. If you think the U.S. stockmarket is going to fall again whats to prevent the same thing from happening? I beleive China’s growth was at least 8% a year at the time and investers were supposed to move into the safety of gold. Why will it be diffent this time?
we are in for a wild 2-3 years. That includes pulling our economy out of the economic down spin, avoiding , if this is possible, a religious war fomented by Iran and its religious council, who see now an opportunity to attack Democracy or the West at a weak and disorganized time.
THey love the Israeli situation, as the Israeli’s goofed big time on handling their own P.R. for years. The Persian people may have awakened to the fact that, they the common people , are the cannon fodder their religious council expects to expend in their venture to conquer the world for their religion (?) by securing the atom bomb.
Add to this a potential trade war, highlights a period requiring constant and proper communication between all trading nations to skirt these dangerous trends.
Can these type of trends be calculated?