1. THE FOLLOWING TABULATION IS BY WHICH I PROVED THE CLINTON, BUSH, OBAMA ECONOMIC POLICIES ARE WRONG, WHICH I EMAILED A COPY TO THE BUSH ADMINISTRATION IN 2002 ( 5762 H.C.), 41 HEBRAIST ERA.

 

                     THE CLINTON, BUSH, OBAMA ADMINISTRATIONS WRONG ECONOMIC POLICIES

The problem with free trade policy is that third world countries' industries operating in

Countries in which Labor cost is cheap and there is lesser governmental

regulation, will be able to produce and sell goods at a cheaper cost than any

western Country industry and compel the western Industries to close its operation

 

HERE IS THE EXAMPLE OF THE BREAKDOWN OF THE FREE TRADE EFFECT

THIRD WORLD INDUSTRY                                                             WESTERN INDUSTRY

Direct Labor cost /day $ 4.00 ...........................................................8/hr X 8 = $ 64.00

Direct Machine cost Per 12 garments $ 2.00........................................... $2.00

Output of labor /day 12 garments............................................... .....12 garments

Indirect cost $ 3.00 /12 garments .........................................................$.25 /12 garments

Direct material cost 0.66 7 X 12 garments= $8.01.................................$ 8.01 /12 garments

 

Distribution, shipping costs $4.00 / 12 garments ...................................$4.00/ 12 garments

Fixed costs $ 1.00 /12 garments .........................................................$ 2.00 / 12 garments

TOTAL COST $ 22.01 / 12 garments ...................................................$105.01 / 12 gar ments

UNIT COST OF A GARMENT $1.83 ...........................................................$8.75

SELLING COST $4.83 ...........................................................................$ 11.00

GROSS PROFIT/ GARMENT $ 3.00 ( 163.93%)............................. ..............$ 2.25 (25.71%)

DEMAND FOR THE PRODUCT = VERY HIGH ...........................ALMOST NO DEMAND FOR THE PRODUCT

As we see it here, the third world industry is taking the market of the United States domestic industry and there by will compel the domestic industry to shut down its domestic operation and go overseas and operate in another country, because it can’t compete operating in the United States.Thus, the employees will be terminated and will be obligated to find a minimum wage paying jobs which is in reality a loss of their previous life while they were working for $8.00 /hr job at the garment factory. Thus, its effect has obligated them to live in a lesser standard of life they were using to live in while they were working for the garment factory. Secondly, all the employees may not get a job for a while and they want unemployment compensation from the government and unemployment rises high. Thirdly, the government couldn’t get enough revenue and will be unable to pay for the required government spending programs.

                                  LETS SEE THE BREAK DOWN OF IT.

While the garment industry was operating, it has 2000 employees and the government makes the following revenues.

1) Income tax from Employees, 20% of their monthly income which is $8.00/hr X 8 hr /day X 40 hours = $ 640.00 X 20% income tax = $ 128.00/ per two weeks = $256.00/month X 2000 employees = $ 512,000.00/ month X 12 = $ 6,144,000.00

 

2) Distributor's sales tax from the garment industry = $ 11.00 X .08% = $0.88 /garment. If 200,000 garments sold in the United States, $0.88 X 200,000 = $ 176,000.00 government revenue

3) Retailers may sell $ 13.00 per garment and will be charged $ 13.00 X 8 %= $ 1.04 per garment. If 200,000 garments are sold, 200,000 X 1.04 = $ 208,000.00 government revenue as sales tax from the retailers.

Total government revenue obtained as the result of the garment industry:

1) Income tax $ 6, 144,000.00

2) Distributor sales tax from the industry $176,000.00

3) sales tax from retailers $208,000.00

TOTAL GOVT. REVENUE $ 6,528,000.00

When the products are imported, the government gets $ 208,000.00 from the domestic retailers sales tax and the loss is $6,320,000.00 It is not all, the terminated employees when the business is shut down, demand a payment of unemployment for 6 months. The cost will be $8.00 X 160 hours /month less 20% state and federal government taxes = $1024.00 X 6months X 2000 = $12,288,000.00 Now the government's total loss is $6,320,000 + 12,288,000 unemployment insurance payment - $18,608,000.00 /year. It is not all, when the terminated employees don't get good amount paying jobs they will work for a minimum wage. But because it will not generate them enough income to support the house hold, they will request food stamp, cash benefits from the government as well. Also, these unemployed persons couldn't afford to pay for their mortgage of their houses, car loans. So, they will file for bankruptcy and the financial industry which had provided the loan, mortgages will lose money and lay off employees in order to survive or file for bankruptcy because there is no money left in the financial organizations because the money is given for mortgage and car loans which are not paid back. If a financial organization files for bankruptcy, the investors will lose their money too. Thus, the total loss of the country as well as the government is a very very great loss and the cause of it is free trade with third world countries.  Also, if the Chinese currency is indeed undervalued, it has to be fixed to the appropriate currency value or else, it will kill our domestic industry by beating it in cheap price.

Therefore, it is wrong to have a free trade with any third world country because it causes such loss. By the same token, free trade with western countries of west Europe, Israel, Australia, Newzealand, Canada, South Korea, Japan is not a problem and it will foster healthy competition based on quality and efficiency but not of cheap labor as the third world countries  What then is the just trade policy to be pursued with third world countries? Any product of any third world country which is cheap in price because of cheap labor or undervalued currency, tariff, quota as well as surtax has to be imposed on it in order to set its price right. To learn more about it and other governance things, please visit our Hebraist Party, Our Hebraist global government

2. EVIDENCE WHICH PROVES MY ECONOMIC POLICY IS RIGHT AND THEIR ECONOMIC POLICY WRONG IS THE STOCK MARKER PERFORMANCE STATISTICS 2000-2009 IN WHICH 98% OF THE TIME NO MONEY IS MADE ON STOCK MARKET DUES TO THEIR POOR ECONOMIC POLICIES. 

NASDAQ 2000-2009 STOCK MARKET STATISTICS

DOW JONES INDUSTRIAL AVERAGE Dec31.2000-DEC.31 2009 MARKET STATISTICS 

3. MY THIRD EVIDENCE WHICH PROVES YOU THEIR ECONOMIC POLICIES ARE WRONG IS THE NUMBER OF BUSINESSES WHICH CLOSED THEIR OPERATION IN AMERICA DURING THE 2000-2009 PERIOD. ACCORDING TO ASSOCIATED PRESS REPORT, AT LEAST 13 MILLION COMPANIES HAVE GONE OUT OF BUSINESS DURING THE TIME. SEE EVIDENCE

4. MY FOURTH EVIDENCE WHICH PROVES YOU THEIR ECONOMIC POLICIES ARE WRONG IS THE NUMBER OF UNEMPLOYED PERSONS IN AMERICA WHICH REACHED 10.2 FROM 4.2 IN 1999 SEE EVIDENCE ALSO, THOSE NEWLY EMPLOYED PERSONS GET A SMALLER PAY THAN WHAT THEY WERE GETTING BEFORE. SEE EVIDENCE

5. UNITED STATES TRADE BALANCE IS NOT MAINTAINED BUT THEY CONTINUED IN VERY LARGE DEFICIT. SEE EVIDENCE1 EVIDENCE 2

6. UNITED STATES GOVERNMENT REVENUE SAVING WENT NEGATIVE SINCE 2001 SEE EVIDENCE

7. THE ECONOMIC POLICY OF THE INTERNATIONAL MONETARY FUND IS ALSO WRONG AS YOU COULD SEE THE EVIDENCE

8. THE EUROPEAN UNION MEMBER COUNTRIES ARE IN ECONOMIC PROBLEM TOO. EVIDENCE1, EVIDENCE 2 EVIDENCE3

[Whether John Mccain or Obama, non of them had promised to curb the foreign trade which is the reason for the economic problems of United States as well as the rest of the western countries. Thus, I have proved the said 751 CEOs ( the nation's top CEOs) as well as the rest who supported Obama they are wrong in their economic policies, business leadership. I have also proved the Clinton, Bush economic policies wrong since 2000 ( 5760 H.C.), 39 H.E. I am teaching about it my Hebraist white girls at http://www.hebraist.us in the title  THE CLINTON, BUSH OBAMA WRONG ECONOMIC POLICIES. I have also uploaded a video at www.youtube.com/drmekbibadgeh  stating their stimulus will not solve the economic problem unless it is accompanied by curbing the foreign trade].

Dr. Mekbib Adgeh

 

Associated Press News

December 3, 2009 ( Kislev 16, 5770)

WASHINGTON – President Barack Obama on Thursday said he'd heard many "exciting ideas and proposals" from participants at a White House sponsored jobs forum and said he hoped some could be put into action quickly. "This has been a tough year, with a lot of uncertainty," Obama said as he wrapped up a half-day brainstorming session with some of the nation's top CEOs, small business and union leaders and economists....The president said there were some ideas that could be put to work almost immediately and other ideas that will become part of legislation for Congress to consider. He listed "moving forward on an aggressive agenda for energy efficiency and weatherization" as a prime candidate for quick action.

 Associated Press News

December 4, 2009 (Kislev 17, 5770)

ALLENTOWN, Pa. – Even as he trumpeted a slowdown in the nation's job losses Friday, President Barack Obama put finishing touches on a proposal he'll unveil next week to "jump-start" business hiring across America.

[Unless the foreign trade is curbed there could be no significant economic progress, whatsoever solution the  "top" economists, CEOs business, labor leaders said. When it happens, they will see I Dr. Mekbib Adgeh, the High Priest of our Hebraist Party have better economic policies, generating better economy than the so-called top people of economics of Obama]

Dr. Mekbib Adgeh

12. THE WORLD ECONOMIC, BUSINESS, POLITICAL LEADERS WHO GATHERED AT DAVOS, JANUARY 2010 DIDN'T GET A SOLUTION FOR THE ECONOMIC PROBLEM YET, BUT I HAVE THE SOLUTION FOR IT SINCE 2002 ( 5762 H.C.), 41 HEBRAIST ERA. SEE EVIDENCE

Home construction sinks, building permits down

Associated Press news

By Ap Real Estate Writer June 16, 2010

WASHINGTON – Home construction plunged last month and building permits also fell, the latest signs that the construction industry won't fuel the economic recovery. Builders are scaling back now that government incentives have expired. The biggest evidence of that trend: single-family homes fell 17 percent, the largest monthly drop since January 1991. The struggle in the housing industry is a concern for the broader economy because less homes mean fewer jobs across various sectors. Overall new homes and apartments were down 10 percent in May to a seasonally adjusted annual rate of 593,000, the Commerce Department said Wednesday. April's figure was revised downward to 659,000. "The tax credit was never intended to be a permanent driver of housing activity and has simply shifted sales forward," wrote James Marple, senior U.S. economist with T.D. Bank. "Sales will almost certainly fall in the months ahead and take some steam out of housing recovery."

[It is what I said since 2008. When their stimulus cash runs out, their economy will be back to recession where it had been. And it is what is happening now!]

Dr. Mekbib Adgeh

 

Reuters News UK

2:00PM 6/29/2010

By Deborah

U.S. "President" Obama says that the U.S. economy is strengthening and that growth must be increased to boost jobs. 

Stocks skid on renewed fears of global slowdown

Stocks and interest rates tumble on fears that recovery will fade; Consumer confidence slumps

ap

6/29/2010 Associated Press

NEW YORK (AP) -- No matter where they look, investors are seeing economic trouble.

Stocks and interest rates tumbled Tuesday after signs of slowing economies from China to the U.S. spooked traders who were already uneasy about a global recovery. The Dow Jones industrial average fell about 320 points in late afternoon and dropped below 10,000 for the first time since June 10. The Dow and broader indexes fell more than 3 percent. The market began the day by following Asian and European markets lower. Asian markets fell after an index that forecasts economic activity for China was revised lower. European indexes continued the slide after Greek workers walked off the job to protest steep budget cuts

 

New jobless claims rise in sign of weak job market

July 1, 2010

By AP Economic writer

WASHINGTON – Initial claims for unemployment benefits rose for the second time in three weeks last week. The potential rise in layoffs comes as Congress remains stuck at an impasse over extending federal jobless aid. The Labor Department said Thursday that new claims for jobless benefits jumped by 13,000 to a seasonally adjusted 472,000. The four-week average, which smooths fluctuations, rose by 3,250 to 466,500, its highest level since March.

US Auto Sales, in Weak Recovery, Slow Down in June

 The Associated Press

DETROIT July 1, 2010

Car and truck sales cool in June on fears about the US economy; industry recovery uncertain. Americans' enthusiasm for new cars and trucks cooled in June on worries about the economy, signaling that the auto industry's recovery is far from certain. GM, Ford and Chrysler said sales of new cars and trucks fell between 12 and 13 percent in June from the prior month. Sales at Toyota Motor Corp. slid 14 percent. Hyundai, however, bucked the trend with a slight gain. People are holding off on big-ticket purchases because they remain anxious about unemployment and home values.

BBC NEWS

US retail sales fall for a second month

 Consumer spending accounts for two thirds of the US economy

US retail sales fell again in June, hit by a drop in sales of petrol, cars and building materials. The Commerce Department said total retail sales fell by 0.5% in June, following a downwardly revised 1.1% fall in May. Compared with June last year, sales were 4.8% higher. Consumer spending accounts for two-thirds of the US economy, and the weak figures come on top of disappointing home sales and factory activity data. Much of the weakness came from a fall in car sales and a drop in petrol prices. Excluding these two criteria, sales would have risen by a slight 0.1% in June. Markets had expected sales, excluding cars, to be flat and there is expected to be muted market response. Takings at sporting goods, hobby and book stores fell 1.4% in June, compared with a 0.3% rise in May. However, purchases at electronics and appliance stores were up by 1.3% and clothing sales rose 0.6%.

Obama signs emergency bill to halt teacher layoffs

August 10, 2010

WASHINGTON – Summoned back from summer break, the House on Tuesday pushed through an emergency $26 billion jobs bill that Democrats said would save 300,000 teachers, police and others from election-year layoffs. President Barack Obama signed it into law.

SEATTLE – A campaigning President Barack Obama said Tuesday it will take a few years to dig the nation out of the recession, warning impatient voters that any candidate promising faster results "is just looking for your vote." The president's economic outlook, coming in the heat of a divisive midterm campaign stretch, reflected his tricky political reality. 

Associated Press

Published August 18, 2010

COLUMBUS, Ohio -- President Obama... His message was familiar: The economy needs more work but it's getting better. 

"A lot of it is like recovering from an illness," the president said. "You get a little bit stronger each day." 

Obama says economy not growing fast enough

REUTERS

August 29, 2010

By Caren 

WASHINGTON (Reuters) – President Barack Obama said on Sunday the U.S. economy was expanding, but not quickly enough, and there was no "magic bullet" that will fix its problems. Obama said in an NBC interview that the batch of grim economic data over the past few weeks was something his administration had anticipated. Gloomy reports on gross domestic product and housing have raised fears the fragile economy could slip back into a recession or face a lengthy period of growth that is too slow to make much of a dent in the 9.5 percent unemployment rate. [Now, August 29, 2010 Obamas conceded defeat. I can boom United States economy again.] Dr. Mekbib Adgeh

CNN NEWS

Obama promises new jobs initiatives, slams GOP

September 3, 2010

.Obama said.. the economy is moving in the right direction... we just have to speed it up. [ IT IS ANOTHER DISINFORMATION. IT IS WRONG ECONOMIC POLICY]

Barack Obama announces $50bn infrastructure plan

BBC NEWS

President Barack Obama has called for a new comprehensive infrastructure plan as part of efforts to to jump-start the spluttering US economy. The plan will invest about $50bn (£32.5bn) in roads, railways and airports as well as high-speed rail and the creation of an infrastructure bank. US infrastructure has long been considered underfunded and receives poor grades from government agencies. The move comes amid signs that the US economy is faltering.

Obama: U.S. can't afford to extend tax cuts for rich

Reuters

PARMA, Ohio | Wed Sep 8, 2010 5:36pm EDT

John Boehner, the Republican leader in the House of Representatives, called for a two-year freeze on all current U.S. tax rates and proposed the government cut spending for next year to 2008 levels, before the controversial federal bailouts and Obama's $814 billion stimulus plan. Obama rejected that call but said his administration was ready to extend tax cuts for families making less than $250,000 a year. Obama proposed accelerating $200 billion in business tax write-offs, which the White House says would eventually cost $30 billion; an infrastructure spending boost of at least $50 billion; and increasing and permanently extending a research and development tax credit costing $100 billion over 10 years. Treasury Secretary Timothy Geithner told CNBC he believed there was support in Congress for the proposals and said the country was recovering slowly from a "savage" recession. Economists said the new plans could provide a modest burst of activity in a slow-growth economy. The risk is that they would only pull forward investments, which would do little to alter a sluggish growth trajectory and spur hiring to alleviate the 9.6 percent unemployment rate. The White House says the eventual cost of accelerating the $200 billion in tax write-offs would be $30 billion, because businesses would eventually deduct the depreciation of their equipment, bringing the total value of the different programs to $180 billion, or more, over time.

 

WASHINGTON – President Barack Obama announced a pay freeze for 2 million federal employees Monday and warned the American public that the move is the first of many difficult decisions that must be made to slash the nation's mounting deficits. "The hard truth is that getting this deficit under control is going to require some broad sacrifice, and that sacrifice must be shared by the employees of the federal government," Obama said. The two-year freeze would apply to all civilian federal employees, including those working at the Department of Defense, but would not affect military personnel. The freeze is expected to save more than $5 billion in savings over two years, $28 billion over five years and more than $60 billion over 10 years, White House officials said.