Ah yes, another email example. Just like with my reply to the NH Rebellion email missive (here), I got one (actually, I’ve gotten a whole SLEW of them) from a group that wishes to keep the Export-Import alive (or in reality, back from the dead as its authorization has already passed) has not been returned. The email is after the jump but for some reason, I guess they didn’t like this sent back to them:
Without Ex-Im, Boeing Still Managed to Sell 300 Planes to China.
A little fisking here with a couple of shout-outs where they contradict their own message:
Good afternoon,
Over the weekend, editorial boards and business leaders from across the country continued to call for the immediate reauthorization of the Export-Import (Ex-Im) Bank in order to limit the negative impacts being felt by U.S. exporters. Below, find highlights of how job creators from Illinois, Ohio, and South Carolina are crying out for Congress to renew Ex-Im now.
Right; these are people who are willing to have the American taxpayers subsidize their businesses.
Learn more about the negative consequences of the Ex-Im lapse on small businesses nationwide through this infographic.
So, how did Boeing, the Ex-Im’s biggest company fare without it (see above the jump)? And if they can sell those billions of dollars of aircraft (and I would imagine, all the folks that work to make them), was it really necessary to have Ex-Im?
~Jared
I also noted this:
Chicago Sun Times Editorial Board: Ex-Im “Helps U.S. Businesses Export Their Products, Which Means More American Jobs.” “By providing financing for transactions that commercial lenders won’t or can’t touch, the bank helps U.S. businesses export their products, which means more American jobs. It doesn’t cost taxpayers anything — in fact it earned a $675 million profit last year and more than $7 billion over the past two decades. Here in Illinois, it’s helped 322 businesses export $5 billion worth of goods over the last six years.” (Editorial Board, “Save Export-Import Bank – And U.S. Jobs,” Chicago Sun Times, 9/27/15)
Umm, the usual question is always where is this function of the Federal Government enumerated? And is it the function of Government to make a profit? And if it is making a profit, it shows that there is indeed a market sector in which private actors can do the same. So, why not just spin off Ex-Im as its own private entity? If it is THAT good and the marketplace THAT profitable, why should government have to be involved?
Oh, it went on like this but the message was clear – Crony Capitalism pays. And obviously, pays well. And once again, we see companies that cannot seemingly succeed without the help of Government – like Obama’s “Life of Julia” campaign vignette – government must be relied upon for your business.
So what does that say about that marketplace? And what does it say about the value add of the services / products that could not go through a private bank?
Well, again, if Boeing was still able to sell 300 planes…
