John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (4436)	8/27/2001 1:45:54 PM
From: Raymond Duray	Read Replies (3) of 33421

Hi John, the Canadian Lumber dispute with the US. It does seem to fly in the face of the "free-trading" credentials of the administration. I've got a well honed nose for hypocrisy. This deal is about as smelly as our effort to impose 150% duties (if not an outright ban) on non-pasteurized cheese from France because the frogs got sniffy about accepting our frankenfood exports. I am absolutely delighted the Congress is no longer willing to rubberstamp the US trade representatives machinations with "fast track" authority. The trade reps have abused the privilege. But, John, it is crucially important to keep your eye on the big picture. Since the housing construction industry is hardly profitable, this effort on the part of the Administration to impose greater costs on the homebuilders must be viewed as hostile to the stated goal of the Administration to prop up the economy on the one leg the economic stool has left, the housing sector. If I wanted to slow down the sector, and tip the economy into hard times, I'd impose a tax on it. Like this 19.3% duty. Recession, anyone? -Ray

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