Posts Tagged ‘Department of Commerce’

Wilbur Ross on the New U.S. Economic Stimulus: Coronavirus

February 5, 2020

Wilbur Ross on the New U.S. Economic Stimulus: Coronavirus

Commerce Secretary, inveterate liar, and noted grifter Wilbur Ross is going viral for claiming that China’s novel coronavirus epidemic “will help to accelerate the return of jobs to North America.” Kinda like how the Black Death stimulated real estate opportunities by emptying Europe’s cities, apparently.

The comment is not just morally appalling, it demonstrates complete ignorance of 21st century manufacturing processes, just what you want in a Secretary of Commerce. Vehicles assembled in the U.S., for example, contain 40 to 50 percent imported parts and components. If China’s factories shut down due to quarantine, U.S. auto assembly lines will grind to a halt. The Rust Belt won’t save the day by sprouting new factories. the corporate billions liberated by the Trump tax cuts were supposed to fund factory development but were used for unproductive stock buybacks instead.

More:

“Wilbur Ross Says Coronavirus Could Bring Jobs Back to the U.S.,” Ana Swanson and Alan Rappeport, New York Times

“Wilbur Ross says Coronavirus could boost US jobs,” BBC News

________________________

Short link: https://wp.me/p6sb6-uoK

Image (“Wilbur Ross Official Portrait”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

Trump, In New Hissy Fit, Wants to Fire Wilbur Ross

July 15, 2019
Trump, In New Hissy Fit, Wants to Fire Wilbur Ross

Commerce Secretary Wilber Ross, official portrait.

President Trump, apparently thinking he is still on his NBC reality TV show, wants to fire Commerce Secretary and noted grifter Wilbur Ross for not successfully defending his indefensible politicization of the 2020 Census. Previously, the president had unsuccessfully sought to fire his Justice Department lawyers for the same reason.

Per ZeroHedge:

“Ross would be the 10th Senate-confirmed member of the Cabinet to leave the administration, in addition to dozens of senior officials, including five communications directors, two chiefs of staff, two national security advisers, two press secretaries, the Federal Bureau of Investigations director, the U.S. ambassador to the United Nations, the National Economic Council director, the Small Business Administrator and the Chair of the Council of Economic Advisers.”

More:

“Trump weighs ousting Commerce chief Wilbur Ross after census defeat,” Hans Nichols, Kayla Tausche, CNBC and Hallie Jackson, NBC News

“Trump Musing Again That 81-Year-Old Commerce Secretary Who Sleeps In Meetings And Mumbles On TV Might Not Be At Top Of His Game,” Thornton McEnery, Dealbreaker

________________________

Short link: https://wp.me/p6sb6-tpW

Image (“Wilbur Ross Official Portrait”) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

Add to: Facebook | Digg | Del.icio.us | Stumbleupon | Reddit | Blinklist | Twitter | Technorati | Yahoo Buzz | Newsvine

Wilbur Ross Explains It All To You

January 25, 2019

Wilbur Ross Explains It All To You

Commerce Secretary and grifter Wilbur Ross (net worth: $440 million — or maybe $2.9 billion) expressed puzzlement over why unpaid federal workers need to go to food banks during the Trump government shutdown when they could get loans. Perhaps they can use their art collections as collateral. It’s true that the Commerce Department Credit Union offers loans to unpaid federal employees — at nearly 9 percent interest. What GS-4 wouldn’t jump at that?

(more…)