Showing posts with label tariffs. Show all posts
Showing posts with label tariffs. Show all posts

Friday, January 16, 2026

VIDEO: Straight from the horse's mouth... or some other orifice

This week Marx Carney, Prime Minister of All Canuckistan [except maybe Alberta! Ed.] and a leading member of the Davos gang, went cap in hand to Communist China to beg for relief from punishing on Canola and other Canadian exports.

By agreeing to lower tariffs on Chinese sparky cars from 100% to 15% -- another nail in the coffin of Ontario's auto industry -- he got the Chinese to agree to start importing Canola (formerly known as rape🞿) again.

Mr Carnage was overjoyed, as is apparent in this video clip, seen across the Great No-longer-white North yesterday evening.


Did you catch that play? Yes, folks, it's another milestone on the road to the New World Order, of which Mr Carnage is one of the apostles. Very unusual, though, for one of George Soros' acolytes to say that part out loud!


🞿 Before political correctness, Canola oil was known as rapeseed oil So much rape was grown around the prairie town of Tisdale SK that it was known, back in the day, as "The Land of Rape and Honey". Really.

Sunday, October 26, 2025

Former POTUS favours reciprocity vs tariffs and protectionism

On 5 September 1901, William McKinley, 25th President of the United States of America, was in Buffalo NY, speaking at the Pan-American Exposition. The Republican president surprised many by shifting his stance on tariffs to favor reciprocity -- a system of mutual exchange with other nations. 

Lest the current POTUS challenge the summary that follows, or accuse Walt of making the whole thing up, we have a transcript of his speech, from the University of Virginia Miller Center.

President McKinley argued that the United States, as a manufacturing powerhouse, needed to export its surplus goods and, in turn, should be willing to import foreign products that could benefit its own industries and labour force. 

This speech marked a significant change from his earlier protectionist policies, which had been known as the McKinley Tariff.  He proposed a policy where the US of A would lower tariffs on certain foreign goods in exchange for other countries reducing their tariffs on American products.

President McKinley recognized that the nation's growing production capacity required foreign markets to absorb its excess goods, as it could not rely on domestic consumption alone. And he stated that this system of receiprocity would be mutually beneficial, enabling America to sell more abroad and make domestic purchases that would create greater demand for American labour. 

The speech signalled that the era of pure protectionism was ending, so the United States needed to engage in "friendly trade relations" to avoid commercial wars and reprisal. The high tariffs of 1890 had led to price increases for consumers and were blamed for Republican losses in the 1890 mid-term elections. 

President McKinley was never able to implement his new reciprocity policy, owing to his having been assassinated the following day by Leon Czolgosz, a young anarchist, who shot him at close range. The President died eight days later, to be replaced by Theodore Roosevelt.

VIDEO: The Canadian ad featuring President Reagan that President Trump doesn't want Americans to believe

Dear American readers, How do you feel about all the tariffs which President Trump has slapped on America's trade partners, particularly Canada? Are they making America stronger? More prosperous? Great again? Is the price which you personally are paying for protectionism worth it? 

President Trump is in a snit because the government of Ontario put together a TV spot, using clips from a speech televised in 1987, in which the last conservative president to occupy the White House says that tariffs are not helpful but hurtful to the American people. Check this out.


Yesterday, while en route to gabfests with assorted Asian leaders in Malaysia and South Korea, POTUS said that, because of the ad, which he called "fake", he's ending all talks with Canada over the ad. But wait (as Vince Offer used to say), there's more. "Because of their serious misrepresentation of the facts, and hostile act," he told the meeja on Air Force One, "I am increasing the Tariff on Canada by 10% over and above what they are paying now."

What did you see in the ad that could have triggered the Donald's ire? To me, it sounds as if President Reagan is in favour of free trade, and against tariffs, which he called "an outdated notion." Did I not hear correctly?

What's the point of getting even tougher on America's biggest trading partner? With Canada already under a US base tariff rate of 35%, the impact of President Trump’s latest gut-punch isn't immediately clear. 

The 35% rate doesn't apply to most Canadian goods because of an exemption for products and shipments made within the rules of the US-Mexico-Canada Agreement (USMCA). Steel and aluminum products aren't covered by that waiver, and Canadian-made cars and trucks are only partially eligible for exemption from the 25% tariffs on most foreign autos. 

Marx Carnage, the prime minister of Canuckistan, has been engaged in protracted talks with the US of A to lower the levies and has already lowered his elbow to knee-level. [I assume Canuck readers will get that one. Ed.] After speaking to Mr Carnage, Ontario Premier Doug Ford said the province will pause its ad campaign tomorrow, now that the ads have been seen by millions of Americans, including President Trump, when they interrupted the World Series.

But the damage has been done. The clash has reignited uncertainty between two partners that exchanged $900 billion in goods and services last year and have closely interwoven supply chains for major industries. IMHO, the ongoing trade war benefits no-one, no-one. Let the man who authored The Art of the Deal get on with some sesrious deal-making.

Wednesday, April 16, 2025

Canadians no longer welcome American tourists. Sorry!

Poor Len Canayen reports that the booing of the Star-spangled Banner at hockey games held in Canada has abated. This is due to ritualized announcements before the fat lady sings [Wut? Cheralyn Toca "fat"? Hardly! Ed.] urging the fans to forget about "the current unpleasantness" and show some respect for the game and those who play it, no matter what sweaters they wear. 

Nevertheless, visiting Americans, whether hockey players or tourists, are noticing a distinct cooling in Canucks' attitudes to their guests. Seems the frostbacks don't like being insulted by the Donald, with all his "51st state" bullshit. And there's always been that kind of smugness about being better educated and less parochial than the average American. You know, the kind you see on Judge Judy.

Our suspicions that they really just want Americans to come to their country to "Keep Canada green! Bring US dollars!" were confirmed when Len passed along this leaked copy of a memorandum from the Canadian Chamber of Commerce, which instructs Canucks in how to "get even" with the Yankee invaders while still taking their greenbacks.

Eleven ways for Canadians to annoy Americans 

1. Talk really slowly, enunciating every syllable. 
2. Refer to the United States as "the eleventh province". 
3. Frisk them for weapons. 

4. Intentionally mispronounce rapper Jay-Z's name "Jay-Zed". 
5. Flash your all-inclusive Free Health Card. 
6. "Maple syrup or grits? Yeah there's a tough choice." 

7. Tell them they couldn't possibly be American; they're not obese enough. 
8. When in conversation, ask them to repeat themselves, saying, "I'm sorry ,I just can't understand your accent". 
9. "The next 'Bachelor' is Canadian. Now you'll see how a real man deals with the ladies". 
10. "New York? Where is that exactly?"

11. When they commend your politeness, tell them to fuck off. 

It's possible this document might be bogus, or that Len has already started celebrating the Habs' gaining entry into the NHL playoffs for the first time in years, but, dear American readers, if you visit Canada this summer, don't expect an unequivocal welcome.

Monday, April 7, 2025

Early casualties of the trade wars

"You realize, of course, this means war!" I didn't expect to hear this threat uttered again, outside of Warner Bros. cartoons, but now American and Canadian politicians are shouting this at each other, and it appears they are in earnest. 

Americans should be thankful that President Trump has not yet led them into a shooting war against their ever-so-nice northern neighbours -- notice the Canadian spelling -- for the last time Yankees tried to make Canada a state, look what happened.

Walt has lost his photos taken during the War of 1812 -- the only war the US of A lost until Vietnam. This was taken during a re-enactment of the Battle of Fort Erie.


You can't see the American soldiers because they're inside the fort, which they had occupied for a time. The British, aided by Canadian militias and Indians [it was OK to call them that, then. Ed.] were trying to take the fort back, and eventually did so. 

You can see Old Fort Erie today, just five miles or so northwest of the World's Longest Formerly Defended Border (TM). From there you can see Buffalo... if you want to. 

I mention this because plans for re-enactments of this and other battles of the War of 1812 and even the Revolutionary War are being cancelled on both sides of the border, because of the Trump Tariffs. 

Canadian re-enactors don't want to spend their hard-come-by US dollars where they're not welcome, and won't put up with the surliness of the CBP. Americans are afraid they won't be able to bring their guns across the border, and that on their return the US border guards will tear their bags to shreds looking for mary-jew-anna and beavertails. 

So fuggedabadit. Too bad, sez Walt.

Friday, April 4, 2025

Walt is sick


Ed. here. Walt has been violently ill since 1600 EDT on Wednesday. I have put him to bed with a pitcher of Ma Nifkins' jellied gin and am hopeful that he will be able to write again by the beginning of the week.

Thursday, March 6, 2025

Is economic suicide President Trump's wish for the US of A?


Apparently Walt is not the only one who thinks that President Trump is sailing the USS America into waters which are not only uncharted but downright dangerous. As I wrote earlier today (scroll down to previous post), picking fights with your friends -- with whom you have a free trade agreement, remember -- is certainly not a proven way to make your country better, let alone great.

Recommended reading: "You Can’t Make America Great Again With Tariffs", by Ian Haworth, The Patriot Post, 5/3/25. Key excerpts:

"...for some unfathomable reason, Trump is risking his own legacy by pushing through an entirely unnecessary and counterproductive strategy that hinges on tariffs, sparking a tariff trade war with multiple countries — including our ally, Canada — and causing stock markets to plummet.

"...what we need is for Donald Trump to find a way to pull us back from the brink of yet another round of voluntary economic mutilation and focus on the principles that have dragged more people out of poverty than any other political ideology in human history: free trade capitalism."

Wise words. Will the Donald listen to anyone other than Elon Musk?

VIDEO: Joe's baaaaaack!


Walt hopes President Trump sees this. Donald, please don't mistake Trudeau and the residents of the "Greater Toronto Area" for real Canadians. You're making a big mistake picking fights with these guys.

Further reading: "Trump's Canadian Tariffs Expected To Have Devastating Impact On The Curling Broom Industry", on the Babylon Bee (where else?), 4/3/25.

Tuesday, March 4, 2025

Reading the thoughts of Zelenskyy at the White House


Today, at 0001 EST, Canada and Mexico got Zelenskyed. Worse is to come, for all concerned. Lifetime pct .987.

Tuesday, February 11, 2025

VIDEO: Dr Jordan Peterson argues the case for a Trump Canada

It's been a while since we featured a video by the good doctor. Agent 6 alerted us to this one, posted on February 5th, in which Dr Peterson reads from his recent article in the National Post, wherein he outlines the case for Trump’s Canada. [Eh? Ed.] He analyses what the Donald is seemingly offering, why provinces like Alberta might just take the deal, and how the Great No-longer-white North can still align itself for a "new era of triumph".

 

What isn't clear to me, though, is what President Trump really wants. Surely it's more than decent beer -- DJT doesn't drink -- or a 51st star on Old Glory. For an alternative theory, check out the video in "Why does DJT have Canada in the cross-hairs?", WWW 3/2/25.

Monday, February 10, 2025

Save your pennies!

President Donald Trump recently announced that he has instructed Treasury Secretary Scott Bessent to have the Treasury Department stop making new pennies, explaining that it costs more than two cents to make them! 

"For far too long the United States has minted pennies which literally cost us more than 2 cents," DJT wrote in a post on Truth Social. "This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nations budget, even if it’s a penny at a time."

Actually it costs more than three cents per cent. Last month, Elon Musk’s Department of Government Efficiency (DOGE) wrote in a post on X, "The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY2023. The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation produced."

It's worth noting too that the quality of the ersatz copper cents -- they're actually zinc with a thin veneer of copper -- ain't what it used to be, just like everything else in today's America. Check out the example at left.

So full of flaws and errors are America's coins that Lincoln Memorial pennies with errors or in high grades can be rare and valuable. The one pictured is offered on eBay for a mere $25,000.

A 1986 penny with the text "In Sod We Trust" instead of "In God We Trust" is rare and sought-after. A 1986 penny missing the layer of copper cladding is rarer still. Even a cut or nick or extra piece of metal (known as a "cud") on the rim of the coin, also known as a cud can be worth hundreds of times the coin's nominal value.

Although production of new pennies has been halted, the cent has not yet been officially demonetized as it was in Canada in 2012. See "Canada doesn't make cents any more", WWW 20/12/12.

In that piece, Walt had made a very sensible suggestion, which he now passes on to Elon Musk [who we assume reads WWW. Ed.] If the US government, ever decides to follow the lead of the frugal frostbacks, here's Walt's can't-miss cost recovery plan. 

Sell the old pennies to Zimbabwe! They use US dollars there but they have no coins because they can't afford to import any. So ship them Amereican pennies at, say, half their face value, plus S+H, plus taxes and tariffs, and they should fetch pretty close to... well, millions and millions -- way more than the expected revenue from recycling.

You're welcome, Mr Musk! No need to write a letter of thanks. A check will do nicely.

Monday, February 3, 2025

VIDEO: Why does DJT have Canada in the cross-hairs? One theory

It's the drugs, stupid! That's the thesis of Samuel Cooper, an investigative journalist and author of Willful Blindness: How a network of narcos, tycoons and CCP agents infiltrated the West. I haven't read this book -- just heard of it now, in fact -- therefore can't recommend it, but Mr Cooper certainly puts forward an interesting... and very scary hypothesis.

In this intereview with Daniela Cambone, Mr Cooper says, "There are very deep concerns that Canada is being used by China in a very sophisticated economic and truly criminal way." And that's the reason, he says, for President Trump's recent rhetoric about tariffs and Canada becoming the 51st state.

It's not a tactic to get Canada to renegotiate the trade deal with the US of A, he says, but a ploy to curb the massive illegal fentanyl trade originating from Canada. "China ships the precursors to the West Coast of Mexico and the West Coast of Canada," he says, "so Vancouver is used as a hub for these precursors." He also details how elite Chinese politicians involve Canada in illegal money laundering, while Canadian politicians turn a blind eye to it. 


In just a couple of hours, President Trump is scheduled to have a telephone conversation with Justin Trudeau, Prime Minister of All Canuckistan. Walt wonders if this is what they will talk about! Will we ever be told? Don't bet on it. 

Thanks to Agent 6 for the lead.

Tuesday, January 28, 2025

What's all this nonsense about making Canada the 51st state?

News travels slowly to this corner of the forest, especially in winter. It has just come to the attention of this dual citizen that President Trump, in a meeting with Blackie McBlackface, Emperor of Canuckistan, that the latter's country would be better off joining the Excited States of America as the 51st state. Why, he said to Junior, you could even be the first governor. Or if not you, then Wayne Gretsky.

Chief Walking Goose allowed as how the frostbacks he rules might not want to join a country where everyone has a gun for self-defence, but not everyone has health insurance coverage provided by the government. But, said the Donald, if you don't join us voluntarily, we have ways of making you see reason (read: the way I see things).

Did he mean another invasion? As President James Madison said way back in 1812, "it would only be a matter of marching." Even President Trump, who ignores history that he doesn't like, knows how that turned out. So he assured M Trudeau and his minions that he wasn't talking about an armed invasion. Goodness, no! A 25% tariff on all Canadian goods and services would do just as well, or even better.

Since he said that, Canadians of all political stripes have had their knickers* in a twist over how to respond to the threatened tariffs. Some argue for a tit-for-tat tariff. [DJT sez: "OK then. Tat!"] Others say maybe joining the US of A isn't such a bad idea. It would cure their government's terminal wokeness once and for all, without an election, let alone an assassination.

What they are forgetting is that Canada and the US of A have been arguing about, threatening, negotiating and renegotiating tariffs since before Canada was even a country. In fact, it was the threat of American tariffs against Canada that forced the assorted provinces to unite as one country (more or less), beginning in 1867. What follows is adapted from Stone Country, by George Bowering, Canada's first poet laureate, Penguin Canada 2003. 

The US war with the Confederate States of America complicated Canadian politics greatly. A lot of Canadians joined the Blue Coats to fight against the slave economy. But the British, still smarting from bad experiences with their former colonies, built warships that wound up in Grey Coat hands. 

These ships made a great nuisance of themselves in the Union shipping lanes, and when the war was all but over, President Lincoln started talking about reprisals, especially the receiving-huge-acreage kind of reprisals. Luckily this sort of talk tapered off after Lincoln's assassination, and the work was left to the feckless Fenians. 

In 1871, the case was closed when Britain agreed that it should pay some monetary compensations. But the big new republic was a place in which business and the military were learning to butter each other's buttocks. If military annexation was not going to look all that good, there were always economic means.

In 1854 the US and British North America had signed a Reciprocity Treaty, which had proven quite handy for the businessmen on both sides, and during their big war, the US had been happy to get fish, food, minerals and wood without paying tariffs on them. But when the war was over, the US Senate began to listen to the complains of businessmen whose business was fish, coal and lumber. 

Listen, said these businessmen, we need protection from these foreign traders. Don't you remember that we just recently fought a couple of wars with them? Don't you realize that if we put up tariffs they will eventually beg for annexation so they can make a living? 

The US withdrew from the Reciprocity Treaty in 1866, whereupon some economic realists proposed the idea of a confederation of the several provinces. Said Sir John Eh Macdonald, who would become the first prime minister, "I'll drink to that!", and so the Dominion of Canada was born. 

This was the kind of thing that made Canadian schoolchildren decide that history was kind of boring. US schoolchildren, of course, never heard abut it. But over the years there have been a lot of apoplectic fits, suicides and desertions caused by the tariffs that keep showing up at the US border.

The lesson for DJT, should he deign to pay attention, is that Canadians will find a way to keep the World's Longest Undefended Border (TM) intact and still do business with the new imperial America. Most of them -- let's say 50% + 1 -- reject the idea of joining the Excited States of America, even if staying out costs them a bit more. As those arch-Canucks, Bob & Doug McKenzie, would put it:


* Note from Ed. to American readers: "Knickers" is what the Brits call ladies' underpants. Canadians call them "panties", like Americans do.

Wednesday, December 4, 2024

Canada to become 51st US state? No, eh!

President-Elect Donald Trump had a weekend visitor at Mar-a-Lago, none other than the Right Honourable Blackie McBlackface, Prime Minister of All Canuckistan. Following Junior's ceremonial kissing of POTUS's ring [Which one? Ed.], he and his entourage were offered a sumptuous state banquet of roasted crow, followed by a dessert of humble pie.


Then came the after-dinner surprise. The atmosphere was convivial, with the two leaders nibbling on crab cocktail and slurping down oysters as they discussed issues of tariffs, border security and trade deficits. But for all the superficial chumminess -- like Spike the bulldog and his little sycophant, in the old Warner Bros. cartoons -- President Trump remained focused on what he wanted from Canada.

What would that be? He's quoted as saying that "Canada has failed the U.S. border by allowing large amounts of drugs and people across the border, including illegal immigrants from over 70 different countries."

But wait, there's more.... Mr Trump reportedly became more animated when it came to the U.S. trade deficit with Canada, which he estimated to be more than $100 billion, and told the Canuck "leader" that if Canada cannot fix the border issues and trade deficit, he will levy a 25% tariff on all Canadian goods immediately on returning to office."

At that point, sources say, Junior started whining and playing the victim card. While shedding crocodile tears, he told POTUS that he just couldn't impose such a tariff "because it would kill the Canadian economy completely."

One would have thought that M Trudeau would have made some positive response, such as an offer to tighten up the World's Longest Undefended Border (TM), but he said nothing, at least not anything that could be heard, about doing anything to stop the cross-border flow of illegal aliens and drugs. He just wanted President Trump to withdraw his threat for nothing, out of concern for the well-being of Canada!

President Trump wasn't biting. "So," he said to Chief Walking Goose, "your country can't survive unless it's ripping off the U.S. to the tune of $100 billion?" If that's the case, he suggested, Canada should become become the 51st of the United (?) States of America. The very idea! Not knowing whether or not to take the President-Elect seriously, the Canuck PM and his entourage laughed nervously.

The Donald followed up with the quip that Trudeau could be governor of the new states, although, he said, "prime minister is a better title." According to Fox News, someone at the meeting, then warned Mr Trump that, as a state, Canada would be deep blue, whereupon he suggested it become "two states, a leftist one and a patriotic one." LOL?

OK, seriously... He may be smiling and laughing, but President Trump is making it clear that he is very serious about tackling the problems that beset the US of A, and intends to do everything he can to solve them. 

That's why Canadians should be happy about President Trump's little jest. Walt's many Canadian agents and friends don't want to become Americans. They just want the American Sickness -- symptoms: wokeism, DEI, division, waste and enforced mediocrity -- to be stopped at the border. 

Thanks to Blackie McBlackface, Canada already has more than enough of those things, plus the 1000s of bogus refugees who used first Trump victory as an excuse to enter Canada illegally, and are still squatting there. What Canadians want is the Trump Cure... without having to become Americans to get it.

Friday, February 15, 2019

VIDEO: Wally award for truth (and humour) in advertising

It's been some time since we awarded the coveted Wally prize for outstanding creativity in advertising. Previous winners have included TV spots for the Nissan Rogue (twice), the Bank of Nova Scotia ("Gear of a Champion") and the famous Olex caveman commercial. Click on the "TV commercials" tag at the end of this post to see others.

Truth is another matter, as we know only too well, so when an advertiser can tell the truth and make us laugh, doing so deserves recognition. Today we honour the creative people responsible for this 15-second spot for the Dairy Farmers of Canada.



That explains why Canadians would still buy home-grown [??? Ed.] milk, even if their government didn't slap a customs duty of nearly 300% on the alleged milk imported from the USA. And yes, they do sell it in plastic bags.

Tuesday, June 19, 2018

Handwriting on the wall for Justin "Mr Socks" Trudeau

Poor Len Canayen here, taking a break from my summer vacation to bring you news of omens of doom for Canadian Prime Minister Trudeau II. Earlier this month it was the convincing win of Doug Ford's Progressive Conservatives [sic] in the Ontario general election. Now (OK, last night) the federal Conservatives crushed M Trudeau's ruling Liberals in a byelection in the Québec riding of Chicoutimi-Le Fjord.

The byelection was precipitated by the resignation of rookie Liberal MP Denis Lemieux, and came just as "Mr Socks" picked a fight with American President Donald Trump over trade issues. POTUS has imposed a 10% tariff on aluminum imports and 25% on steel, claiming the security of the Paranoid States of America is put at risk by all those Canadian products coming across the border. M Trudeau called that suggestion "insulting" -- no kidding! -- and vowed to slap dollar-for-dollar tariffs on a range of US exports to Canada, starting on Canada Day, July 1st.

The riding is in Québec's Saguenay region, the heart of the province's aluminum industry. While opinion polls suggest Canadians have rallied behind Mr Dressup, the issue evidently didn't help Liberal fortunes in yesterday's byelection. Neither did hundreds of millions of dollars of pork-barrel promises.


In the first test of Conservative leader Andrew Scheer's effort to recreate the nationalist-conservative coalition that helped federal Tories dominate the province in the 1980s, his candidate, Richard Martel, captured 53% of the vote, more than 5000 votes ahead of the Liberal, who took 29%. The pinko NDP (led by a Sikh who wears a turban but not a tie) and the separatist Bloc Québécois received 8.7% and 5.7% respectively, with the Green candidate last at just 3.1 per cent of the vote.

The Liberals' handling of the impending trade war with the USA was certainly top-of-mind for the voters of Chicoutimi-Le Fjord, but un petit oiseau tells me that a close second, not mentioned by the (((controlled media))) for reasons of political correctness, was the feds' failure to turn back the 1000s of bogus "refugeees" and asylum-seekers flooding across the border at Lacolle. See "Canuck Conservatives demand Liberals stop border jumpers", WWW 24/4/18. Mr Scheer has said he'd give Québec more power over culture and immigration and has promised to crack down on the influx of "irregular refugee claimants".

M Trudeau -- or at least the handlers who pull his strings -- should pay attention. The old-stock Canadians have had more than enough of the Liberals' incessant identity politics and pandering to minorities. At the first opportunity they will boot out the liberal elites, and dat's for sure, eh!

Wednesday, June 13, 2018

Adam Smith says POTUS is wrong on tariffs and trade

Who dares to take issue with President Trump's desire to raise tariffs on steel, aluminum and a wide range of goods America imports from its friends and allies, and thus provoke a trade war? Adam Smith, that's who!

Mr Smith was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era. He is best known for two classic works: An Inquiry into the Nature and Causes of the Wealth of Nations (1776) and The Theory of Moral Sentiments (1759). The former, usually abbreviated to The Wealth of Nations, is considered his magnum opus and the first modern work of economics.

Adam Smith was a classical liberal -- the good kind -- and a firm believer in free trade. In The Wealth of Nations, he argues for three foundations of modern economics, viz.:
  1. pursuit of self-interest - It's OK to look out for Number One
  2. division of labour - It's folly to have everyone build his own house when different people can be employed to dig the foundation, do the framing and put the roof on
  3. freedom of trade - I give you something you want, and I get something I want, which goes back to the first principle. 
The Wealth of Nations is a huge book -- huge in its impact on political thought and, unfortunately, huge in size -- over 900 pages even in an abridged edition. Everyone who fancies himself [or herself! Ed.] a thinker refers to Adam Smith, but few actually quote him because few have read this literally magnum opus. P.J. O'Rourke has done so, or skimmed through it at least, and has produced a remarkably slim "Best of Adam Smith" book called On the Wealth of Nations (Douglas & McIntyre, 2007), from which I've drawn this passage (from Book 4 of the original work). The words of Adam Smith, himself, are shown in italics.

Smith disdained trade retaliation: "Those workmen...who suffered by our neighbours' prohibition will not be benefited by ours. On the contrary, they and almost all the other classes of our citizens will thereby be obliged to pay dearer than before for certain goods."

And Smith gave the lie to claims that tariffs protect working stiffs: "To lay a new tax upon them...and because they already pay too dear for the necessaries of life, to make them likewise pay too dear for the greater part of other commodities, is certainly a most absurd way of making amends."

As for all our money going overseas, Smith had shown in book 2 of Wealth why this doesn't harm an economy: "we must not imagine that it is sent abroad for nothing." And Smith was referring to gold bullion. Gold always has some value.... The American money that the Chinese are getting is fiat currency that could turn into wastepaper at any time.

By holding dollars and dollar-denominated securities, China is buying our debt. Smith had declared, "A man must be perfectly crazy who...does not employ all the stock which he commands, whether it be his own or borrowed." If Americans think they're using all the capital they can get their hands on "in the way that they judge most advantageous to themselves," they'd be crazy not to be in debt.

As I pointed out in "MAGA to MAAA - Walt explains President Trump's 'trade war' strategy", WWW 1/6/18, Making America Great Again doesn't necessarily involve Making America Alone Again. Reverting to the protectionism of a hundred years ago will almost certainly be counter-productive. If POTUS persists in making war on America's allies (no matter how irritating their leaders may be), it will not end well. Lifetime pct .986.

Monday, June 11, 2018

Parsing the G7 summit: triumph for Trump or Trudeau or just chaos?

Six of the G7 leaders who met at Charlevoix, Québec, this weekend thought it was a good meeting. As everyone who reads Dilbert knows, if the point of the meeting is to get together around a table (preferably at a luxury resort) and have a good yak, a meeting which doesn't end in mayhem is "good", even though nothing is actually accomplished.

POTUS seems to be obsessed with accomplishing something, so he doesn't agree that the meeting was a success. He came late and withdrew early [Huh? Ed.] thus avoiding most of Canuck Prime Minister "Junior" Trudeau's agenda for the gabfest. Saving the whales, keeping the earth from burning up and improving the miserable lives of girl children don't interest Mr Trump very much. He wanted to talk business -- trade and tariffs -- but the Euroweenies and Canuck Liberals aren't interested in those things. See "MAGA to MAAA - Walt explains President Trump's 'trade war' strategy", WWW 1/6/18.

Reuters got an excellent picture which sums up the tenor of the talks. Six friends and a stranger, but when the stranger is the leader of the most powerful nation on earth, what difference does it make? What this picture really needs, though, is a caption. There are already hundreds of memes floating around in cyberspace, but I thought I'd add a couple more.



Note from Ed.:
OK, it's Monday morning so we have to make allowances, but honestly, I think Walt's captions are kind of lame. Surely some of our readers can do better? E-mail your suggestions to me at the usual address and we'll post a couple of good ones... if there are any.

Footnote: After his abrupt departure from the meeting, POTUS lobbed a grenade at the assembled globalists and progressives (especially "Mr Socks") by walking back his agreement to a group statement on trade, complaining that he had been blindsided by M Trudeau's criticism of his tariff threats at the summit-ending news conference. As he flew from Canada to Singapore Saturday night, POTUS vented his wrath on Twitter. Among other things, he called Junior "weak" and "dishonest", something Canucks have known since shortly after he took office, but nevertheless found a tad insulting, eh.

Friday, June 1, 2018

MAGA to MAAA - Walt explains President Trump's "trade war" strategy

The (((controlled media))) in the USA, Canada and western Europe are aghast at the American government's announcement, yesterday, that punishing tariffs against imported steel, aluminum and other products would go into effect today.

The importation of such good from coutries such as Canada and Mexico, the administration says, constitutes a threat to national security. Mr Dressup, the Acting Prime Minister of Canada, calls that claim "absurd", and for once he is right. But that doesn't mean President Trump is wrong to fire the first shot in what could become a global trade war. Walt will explain.

Next weekend Canada is due to hose ["host", shurely! Ed.] the G-7 summit, a meeting of the leaders of the world's seven most economically important countries, including Japan, Germany, France, Britain, Canada, and the USA. [That's only six. Ed.] [I can't remember the seventh. Would you believe Italy? Walt] A few years ago they were trying to bring Russia into the circle, to make it G-8, but President Putin wasn't having any. Now the libtards on the "At Issue" segment of the CBC national news are suggesting that the coming meeting will really be the G-6+1, since (they say) President Trump has clearly signalled his intention of "taking the USA out of the world community". That is not absurd. Walt will explain.

The "world community" is a pretty sick community. With the possible exception of Japan and the certain exception of the red half of the Paranoid States of America, the G-7 is infected with four fatal diseases, which are killing western, Christian (?) civilization, slowly but surely. The diseases, which are now not epidemic but endemic, are:
Globalism - aka one-worldism; the rich must give their wealth to the poor
Multiculturalism - all races and cultures are equally good, but the white race is not so good as the others
Secularism - denying religion and the need for religion; making man into god
Relativism - the notion that all cultures, are civilizations are of equal value

We could add liberalism and "progressivism", which are the creeds of all right-thinking people in western Europe and North America, according to the elites and opinion-makers who know (better than you and I) what's wrong with the world -- racism, colonialism, white supremacy, yada yada yada -- and what must be done to fix it. What's that, you ask? Why, the establishment of a one-world government, of course, so that the Disunited Nations can rule us all. Political rock stars like Canada's Trudeau II are practically wetting themselves in anticipation of being chosen Benevolent Dictator of the Brave New World.

"Join us! Join us!", the one-worlders say to the only country which stands apart from the movement to make us all one big happy family. That country is the USA. The Prez nearly succeeded in eradicating American exceptionalism and surrendering the country to the feckless foreigners. Truly, Americans dodged a bullet by rejecting Barry's anointed successor, the one who would carry on his "legacy". Under President Trump, America stands alone against the suicide of the west, and a good thing too!

It's not easy to read POTUS' mind [Reminder: Comments are moderated! Ed.] but my take on the imposition of tariffs against America's "allies" -- like the French surrender-monkeys -- is that it's just part of a bigger vision, which is... wait for it... to take the USA out of the so-called "world community". However timidly, Britiain is backing out of the European Union. Why can't America leave the G-7, the World Trade Organization, the UN, and any other international organization which exists chiefly to subjugate the USA and "redistribute" American wealth to the shithole countries of the world? If that's President Trump's real goal, Walt says GO FOR IT! Make America Great Again is a good idea. Make America Alone Again is even better!

Further reading:

Burnham, James: The Suicide of the West: an essay on the meaning and destiny of liberalism - 2nd ed. - Encounter Books, 2014
Murray, Douglas: The Strange Death of Europe: Immigration, Identity, Islam - Bloomsbury Continuum, 2017 - see "Douglas Murray explains the lie of multiculturalism", WWW 24/9/17 - includes video
Steyn, Mark: America Alone: The End of the World as We Know It - Regnery Publishing, 2006 - see "Muslim journalist admits Mark Steyn was right", WWW 22/6/16