Today’s Edition of Free Market Nonsense

Let’s take today to focus on bullshit related to the FREE MARKET.

First, remember that the business press takes it as a matter of faith that there is a free market and that it is the best and strongest force in the world. Both ideas are total bullshit, which makes the nonsense you read in the business press that much more interesting.

Take One: Obama and Korea. We tried to get the Koreans to agree to some sort of arrangement relating to importing US autos into Korea. Naturally Korea, an exporting nation, politely told us to fuck off, and they’re happy to continue protecting their domestic auto market. So much for the freedom to import into the Korean market.

Take Two: The Japanese continue to massively subsidize their rice farmers. Hmmm, rice production is part of their national heritage and they don’t want to open it up to imports and see the market decimated. Shocking.

Take Three: Germany says the US is engaged in currency manipulation by engaging in quantitative easing. An exporting power, Germany will describe ANYTHING the US does to boost exports as either protectionism or currency manipulation. So much for one of our leading economic “partners.”

Take Four: Just a reminder…the US and the EU were both found guilty of subsidizing Boeing and Airbus, respectively. Shockingly, each political entity thought it was a good idea to spend some money to protect a high value-added manufacturing segment that generates thousands of jobs. The good news according to Boeing: Airbus was MORE protected.

The next time someone says there is such a thing as global free trade, smack them. There isn’t. And there never will be.