Tuesday, January 27, 2009

Financial Institutions in disarray, how much of Timothy Geithner is "Old World?"

The astounding reality of the Obama Presidency is that 'he gets it.' He knows that all the factories that once manufactured 'made in the USA' were vital to the tax base of the country. Barak knows that returning jobs to Americans is more than important to 'making money' it is a matter of supporting a tax base that provides for National Security.

One of the stark realities to the American Landscape is the loss of 'small town' manufacturing jobs. The ONE prime example is the loss of American made pottery, dinnerware, etc. There are dearly few manufacturing companies for something as simple and elegant as dinnerware left in the USA and below is a husband and wife success story.

What is occurring instead, and in the case of Pfaltzgraff, everything is NOW made in China. Over the years there was a 'segment' of their manufacturing that always 'outsourced' but there was always those items consistently "Made in the USA." I don't know about anyone else, but, even when American 'distributors' demand a 'certain' quality of product to sell to the American public, imports are far less desirable and in the instance of pottery can contain lead and glazings that are unsafe.

When American products are met with government standards that are enforced as well as legisltated, we have products of longevity and safety. Today, the Pfaltzgraff stamped with "Made in the USA" is an heirloom item and should be considered valuable beyond its' 'Yard Sale' price.

It is up to us, the people of this country to look beyond the 'discount' way of life we have been living and strive to return manufacturing to our towns and cities. American made pottery is only one example. We should be asking ourselves, "How much of what we purchase actually is "Made in the USA?"


In 2003, husband and wife team, Robin Petravic and Catherine Bailey purchased Heath Ceramics. Their shared mission was to revitalize the company by placing a strong emphasis on design, while preserving Edith Heath’s handcrafted techniques and design legacy. Today, classic designs, as well as new ones are made with the highest level of craftsmanship - ensuring the lasting quality and aesthetic of each of our products. (click here)


THE PFALTZGRAFF FLEMINGTON OUTLET RETAIL STORE ~ NOW CLOSED

How important is Wall Street? In actuality, not very. It is why I truly didn't care if there was a recovery at that level or not. Wall Street is about 'sameness' and maintaining the status quo to insure profits and income, not about 'change.'

The 'real economy' of the USA lies in its ability to collect taxes. Those taxes can be corporate taxes, which when and if increased won't hurt any recovery.

Why?

Because the reduction in their tax burden received for so long under Bush/Cheney was disproportionate to the responsibility they hold to the people of the USA. Under Bush; as noted with 'the extreme' Halliburton; companies' tax burdens were cut to the bone while 'supplemented' with all kinds of 'imagineering' to supposedly support R&D and expansion of an economy.

The opposite was true. Besides being willing to 'con' the American people at the pleasure of their wrongfully elected President, Halliburton did nothing to improve the American economy and now their headquarters are in Dubai. Quite frankly, good riddens.

Halliburton agrees to pay $560 million in KBR bribery case (click here)
By BRETT CLANTONCopyright 2009 Houston Chronicle
Jan. 26, 2009, 11:53PM

Nearly two years after cutting ties with KBR, Halliburton Co. said Monday it has one more big bill to pay before it is free and clear of its former subsidiary.
The oil field services giant said it has agreed to shell out nearly $560 million to settle federal bribery allegations against KBR, making it the second-biggest Foreign Corrupt Practices Act settlement deal ever.
Though the deal still faces final approval by the Justice Department, Halliburton said it had already set aside more than $300 million to deal with the matter, a cost that proved to be a drag on its fourth-quarter profit, which the company also reported Monday....


In the coroporate world, the less of a tax burden the companies carried the easier it is for any CEO to satisfy stockholders and the profit margins were far more reliable. When corporations have to carry their full responsibility including paying taxes to the USA Treasury they will expand their business, employ more people and produce more product.


So much for Bush/Reagan economics. The question is how much of the Geithner Treasury will reflect 'Wall Street' indulgences rather than "Main Street" bolstering? I firmly believe that when the manufacturing sector of the USA is 'on track' Wall Street takes care of itself. There is no reason to fixate on corporations IF we as Americans support local economies where we work. Keeping automakers in business is an important sector for the USA, in my opinion the auto manufacturing sector is as much a Homeland Security issue as passenger inspections to airlines. The sector has served the county well when war machines need a 'quick start-up.'