18 votes

Rachel Maddow uploaded a new video- "Mitt Romney admits to using Chinese slave labor at Bain."

Sickening. Spread this everywhere.

http://www.youtube.com/wa...

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scawarren's picture

Youtube account terminated ?!

Youtube account terminated ?!

Individualism-
To be nobody but yourself in a world which is doing its best, night and day, to make you everybody else means to fight the hardest battle which any human being can fight; and never stop fighting.
e.e. cummings

I'm surprised that anyone on

I'm surprised that anyone on this site would say what Romney said was sickening. I hate to agree with Romney, but he was correct.

Minimum wage laws have no place in the free market system. Imposing our wage system on other countries may encourage businesses to stay in our country, but this is hardly the small government model. It would be better to slash regulations and remove minimum wage laws here instead.

If the story Romney told was true (John Stossel has found similar things in his investigations), then why would it be so bad for these young people to work hard and save up money to take home?

Here is Ron Paul on the subject. It doesn't answer the issue completely, but it should give a good idea.
http://www.youtube.com/watch?v=y8h0oTSMFnA

Cyril's picture

Vice vs. Virtue

"The inherent vice of capitalism is the unequal sharing of blessings;

The inherent virtue of socialism is the equal sharing of MISERY."

-- W. Churchill

'Nuff said

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Just watched this link.

http://www.youtube.com/watch?v=ZDFBLAPNZIs

He doesn't say if he bought or didn't buy that company. If he did and kept it the same ... Bad Bad Mitt!!! You have some explaining to do. Terrible. Saving for marriage. Living in cells.

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Youtube removed this video & banned the the account

The person said they saved it, maybe they will get another acct. and put it back up. I guess Romney people didn't like it.

.

http://www.buzzfeed.com/nycsouthpaw/mysterious-video-appears...

Immoral funding of Military Industrial Complex by Federal Reserve and US taxation system must stop!!!! End illegal/unconstitutional wars! Preserve US currency!
http://facebook.com/NoPropagandaZone
http://twitter.com/the_chiefe71

Another link to video

http://www.youtube.com/watch?v=ZDFBLAPNZIs

"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix

Video is Gone

Censorship at it's finest. With control over all the major websites that exists now, it makes you wonder what kind of control and manipulation will take place with Obama's new executive order to give "homeland" security full control of the internet for "national security". Lying, worthless, criminal bassturds.

.

http://www.buzzfeed.com/nycsouthpaw/mysterious-video-appears...

Immoral funding of Military Industrial Complex by Federal Reserve and US taxation system must stop!!!! End illegal/unconstitutional wars! Preserve US currency!
http://facebook.com/NoPropagandaZone
http://twitter.com/the_chiefe71

Slave Wages Might Prevent Starvation

Wait a second.. Did these people in China get paid, or where they slaves?

And if Romney and his company had not paid these people the wages they got, would they have starved?

I always hear the left cry about low wages abroad, but I've never heard anyone explain what exactly slave-wages are, and what their life might be like WITHOUT those slave wages.

Just something to think about. I know this is anti-Romney propaganda but I just think we need to be able to make distinctions and not get caught up in the political b.s. game.

wow fat

this is taking justification to a whole new level.
Kind of like. "Well, all y'all know they wanted democracy, they just didnt know it, so we had to bomb em till we could force it on em."

Jackson County Georgia

War is an instrument entirely inefficient toward redressing wrong; and multiplies, instead of indemnifying losses.
Thomas Jefferson

Cyril's picture

I'd argue a true American

I'd argue a true American ideal would be to have American corporations have their workers work ON U.S. soil, first and foremost.

Option 1:
Isn't a modern civilized society one which produces a lot to sustain its own people by and for itself, thanks to the lever of technology, while still allowing for exports sold outside, to enrich its own working middle class some more (by higher salaries and corporate retirement funds, thanks to those sales) ?

Option 2:
I see nothing to be proud of in creating jobs OVERSEAS/OFF SHORE just to lower the production costs of YOUR OWN GOODS (be they for internal consumption or exports afterwards), and because the margins at home would be zero or worse.

In option 1, we can thus avoid even having to worry about the fairness/exploiting of foreigners debate, to begin with.

Or did I miss something ?

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Oddly enough, the founders

Oddly enough, the founders were aware of the idea that foreign countries could offer much lower productions costs due to cheaper labor, more raw materials, lower regulations, etc. To keep business in America, they gave the federal government wide powers of taxation of imported goods.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

Cyril's picture

And oddly enough, they were

And oddly enough, they were right once again on the limited scope :

by giving the government power of taxations over imports they knew the elected representatives of the people could somehow protect at some minima extent the American producer/consumer markets. E.g., to buy some time to the american innovative power/entrepreneurship to catch up and overcome the production force of more brutal labor countries, should that be required.

What they didn't expect is the overall SCHEME and taxation over the SWEAT of the people that the traitors and insiders who followed them came up with.

FOR THEIR OWN PRIVATE BENEFITS AS ENSLAVERS.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

To be fair, I don't think

To be fair, I don't think they were thinking about American innovative power overcoming the production force of more brutal labor countries. They didn't really have a super-romanticized view of America...they understood that America could be "second-best" due to circumstances outside of their control.

Thomas Jefferson was a firm supporter of import taxes, for example. Not as much as Washington or Hamilton, but still...

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a

Cyril's picture

I see what you mean.

I see what you mean. I can grant you that.

Still, they were wise enough to limit a priori the political debate to the balancing between exports vs. imports tax regulations. Which is already a pretty involved and sensitive topic of its own, anyway (in terms of conflict of interests, degree of fairness, etc)

They never liked the idea of the infamy that followed, with organized theft of the fruits of labor ... at the Federal level, with a later-to-be-called IRS.

Yet, no doubt they knew the scheme : they had been running away from Kings and Tyrans doing it for centuries !

Their idea of Liberty was very new in that respect, to try something else than the centuries-old robbery by the people's ruler/or "state" !

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Interesting, so this shows at least TWO things

Interesting, so this shows at least TWO things :

1. so far, Mitt prefers TO USE ENSLAVER METHODS to subject FOREIGN WORKFORCES to make HIS PROFITS, instead OF USING CIVILIZED LABOR IN HIS OWN COUNTRY

(but hey, who can blame him ? the welfare state economy is so screwed up already, the latter option wouldn't be AS MUCH PROFITABLE FOR HIM, right ?)

2. future plans: he ends up with alluding to the fact he'd like TO IMPLEMENT THE SAME IN AMERICA, eventually (listen attentively to what he says in the last 30 seconds)

Who still thinks he may be "a nice guy" a bit clueless or politically too clumsy sometimes ?

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

The YouTube Acct Was Terminated

No,no its to keep the people

No,no its to keep the people from coming in! because theres so many ppl who wanna work here!lmao, I cant believe he's the nominee. This is a shame guys! so what now though? if we cant get dr paul elected, do we have anybody lined up for 2016? this sucks because ron paul is the truth ya'll

juan maldonado

Romney shut down businesses here to take advantage

of the low wages and slave labor in China and in the mean time reaped huge profits that he stowed away in foreign accounts tax free. Many here believe in the free market system, but how "free market" is it when we handcuff our businesses with regulations and allow unrestricted trade with totalitarian regimes? We de-industrialized America by shipping the technology, machine tooling, copy rites, market share, management and manufacturing expertise to countries that have no regard as to worker safety, environmental concerns, minimum wage laws etc? Until we can have honest and fair free trade we can't create jobs here. Notice how none of this is discussed in the debate about creating jobs?

This is romney's vision of

This is romney's vision of america. Remember his words "I am a successful businessman, I know what to do to fix america". His true colors are shining through.

Just to point out Maddow did not upload this video

The youtube account just called themselves Rachel Maddow. She said as much on her twitter feed yesterday.

Americans do not "run" the factories they "buy" in China

The people and factories are "leased out" (in a more American sense of the word).

The "evil" is that Mitt has the economic understanding of why labor is so cheap in China.

It's cheap because the Chinese gov't artificially holds their currency at a super-low level as to out "compete" with American factories.

When you buy products from China you are supporting this reality.

That's why I say our "birth-right" is a curse for other civilians in other nations -- but they don't understand the above and actually "appreciate" the factory jobs.

The latter is the saddest thing about all of it.

Reminds me of Harriet Tubman's famous quote: "I freed a thousand slaves I could have freed a thousand more if only they knew they were slaves."

Ron Paul is the modern Harriet Tubman

ugh

"It's cheap because the Chinese gov't artificially holds their currency at a super-low level as to out "compete" with American factories."

My response to this false claim:

Do you have any clue? Do you not know that China has had their currency pegged to the US dollar, so their currency was not debased any more than the US dollar? In fact, recently they've been letting their currency appreciate (relative to the US $), so the US dollar is actually being debased more than the Chinese currency.

Look at this chart. It shows that until part way through 2005 the Chinese had a very strict peg to the US dollar. After that you can see the number of Yuan per US $ going down -- that means you can buy the same number of US $ with less Yuan, which means the US $ is being debased faster than the Yuan. If you traded in your US $ for Chinese Yuan back in 2005, you would already have about +27% in "profit" due to US $ debasement.

Yes -- I did know they pegged their currency to the US Dollar

In 1994 the Yuan was actually debased by 30%.

Yes they've allowed it to rise since then, but according to Jim Rodgers, "you have to have inflation before you can have hyper-inflation."

If America has has lost (according to Ron Paul) 96 cents to the dollar and China pegged it's currency to the dollar, well duh!!

You just rudely made my point -- thanks I guess.

<sigh>

"In 1994 the Yuan was actually debased by 30%."

Which has pretty much zero impact on the current monetary situation. (Or would you claim that FDR's debasement of the US $ by 40% in one day back in the 1930s is still providing America with "unfair competitive advantage"?) Debasement is something that has to be done fairly regularly or soon after the last such debasement it stops having any impact. It's been a long time since China was debasing relative to the US $.

Your claim was "the Chinese gov't artificially holds their currency at a super-low level". "holds", as in present-tense, as in false.

Furthermore, "super-low level" doesn't even make sense. It does not matter what the exchange rate between yuan and the US $ is. All that matters is how it changes over time. (Or are you going to argue that Japan has a really "unfair advantage" because it takes about 79 yen to buy one US $?)

Do you know who agrees with your "super-low level" talk? The likes of Ben Bernanke and Paul Krugman. [sarc]That's some really good company you keep.[/sarc] (And I like how you quote Jim Rogers to try to make your case -- Jim Rogers has said on numerous occasions that Bernanke is wrong about everything.)

"Yes they've allowed it to rise since then, but according to Jim Rogers, "you have to have inflation before you can have hyper-inflation."

What kind of non sequitur is that? I thought you were trying to make a point about "unfair advantage", now you're off on a hyper-inflation tangent? And even if that wasn't an off-topic tangent, it would still be bizarre to bring up when the US has had more inflation than China for about 7 years now, and for the decade before that had the exact same level of inflation. You do realize Jim Rogers was not saying there would be inflation, and then for a decade or two there wouldn't be any inflation, and then out of no where hyper-inflation strikes, don't you?

"If America has has lost (according to Ron Paul) 96 cents to the dollar and China pegged it's currency to the dollar, well duh!!"

1. Your original claim was that China is getting some kind of competitive advantage due to debasement, but lock-step debasement of both Chinese Yuan and US $ would provide no such advantage.
2. Your attempt at ??? (at logic? I can't even tell what you're trying to do here) is a fail due to timing. The US $ lost that much since 1913, but the current Chinese currency (renminbi) didn't even exist until 1948. [sarc]But I'm sure the Chinese civil war and the take over by the communists was all just a ploy to drive inflationary monetary policy and obtain "unfair export competitiveness".[/sarc]

"You just rudely made my point -- thanks I guess."

You are seriously confused. And the thanks should be for me setting you straight (though, I'm not holding my breath for success on that front).

Jim Rogers is the one I'm quoting (actually)

Yes I think FDR's debasement of US $ has a net effect on our current situation -- not because I'm a trained Economist, but because this is RP's assessment and many of the Economist down at Mises Institute assessment.

Yes Bernake and Krugman agree -- There are over-lapping areas of agreement in the world; only a child deals in absolutes.

Mises Economist and Krugman agree that there is a housing bubble, where they disagree is that Krugman says "not enough" central planning is too blame.

Remember your Rothbard:

Once an inflationary boom is launched, a recession is not only inevitable but is also the only way of correcting the distortions of the boom and returning the economy to health.

Here's where your analysis falls apart -- I'm might be simplifying things (too much so for your exacting disposition but understandably so for a blog and a short "point") when I say "super-low".

The net effect of China's debasement 20+ years ago is their real estate bubble (according to Jim Rogers) today -- it is their inflation and ours (in "real" price terms).

Also, they have grown industries that would not have grown or developed under their old system nor would they have developed in a "free-market"

In China Q1 rose 23.5% (in nominal terms) compared to the same period the previous year. This is a nominal "come-down" from 2011 when property investment rose 27.9%, or 2010, when it rose 33.2%.

Remember I said "nominal"

Year-on-year sales in Q1, for all real estate, was down -14.6%. The decline was even steeper, -17.5%, in residential property, is 80% of the market.

Office sales were down -10.2%, while growth in “commercial” (i.e., retail) property sales, which saw a boom in 2011, decelerated to +10.5%.

Land acquisition fell by 29.5% annually in Q2, following a drop of 3.9% in Q1, while newly started construction reduced by 14.5% annually, down from a 5.2% decline during the same period.

Developers (with 70% leverage ratios) claimed a 23.5% investment growth coming from? This is that "false-economy" b.s we faced, essentially they rushed to complete whatever projects were already in their pipeline, in order to put those units onto the market and raise cash. Completions (measured in floor space) were up 39.3% in Q1,

Floor space "for sale" was up 35.5%. compared to last year (Mar 2011) while the floor space of residential units “for sale” grew 47.4%.

This does not count for "off market" tricks used in China all the time to "massage" GDP numbers. At the end of 2011, total floor space “under construction” was roughly 4.6 times the floor space sold that year.

This is the "prisoners dilemma": rush to complete, in hopes of cashing out.

The scary thing for China is demand -- they are building the wrong kinds of buildings. The PBOC discovered only 14.1% of Chinese consumers wanted to buy a house in Q2.

Here's my point that Q2 Demand was the lowest it's been since 1999, sound familiar with what I said before?

According to PBOC in Q2 62.9% said they still consider prices to be too high.

Rush to Completion Glut is the name of the Chinese Real Estate Market.
Land sales fell, revenues in April (RMB 27 billion) were down -54.7% compared to April last year (RMB 60 billion), and -47.0% compared to March (RMB 51 billion).

If that's not enough for you then no that foreign investors are pulling back from China’s property sector. Foreign funding for property development was down -91.4% in March and -80.8% in April, compared to the same months last year.

Do people here believe in the free market?

Why are we attacking from the left on this issue? If indeed our ideas are bullet proof then step back for a second and ask yourself what many here have already exposed about this hit job.

Were people forced to work here? Why were citizens lining up for jobs? Sounds like volunteerism to me.

Are people literally enslaved by this system or are they moving up? (there are a lot of low paying jobs, wage slaves, and the working poor but then there is having no hope and being owned; never getting out of your current situation to something better)

What is your motivation for spreading this? Do you care about winning on principle or do you believe this will score some political points for Dr. Paul.

Sounds to me like the same attacks levied by Newt Gingrich and the Marxists in Occupy Wall Street (just saying).

Now the Lord is that Spirit: and where the Spirit of the Lord is, there is liberty.
www.yaliberty.org - Young Americans for Liberty
www.ivaw.org/operation-recovery - Stop Deploying Traumatized Troops

do you actually believe that

do you actually believe that the fences were there to keep people out. I have some ocean front property for sale in arizona.

Oh I'm sorry

I didn't realize that Mitt Romney said that the fences were there to keep people in. I thought he was in a very private setting and was being candid about the fences not keeping people in.

What about thieves? Are business not allowed to fence off their property to protect it?

Let's speculate on the content of this video instead of being intellectually honest. Those evil corporations have also gotten to me so I will spare you that speculative thought.

Now the Lord is that Spirit: and where the Spirit of the Lord is, there is liberty.
www.yaliberty.org - Young Americans for Liberty
www.ivaw.org/operation-recovery - Stop Deploying Traumatized Troops