Britain's Brown Says 'Economic Hurricane' Has Swept The World, Warns Against US Protectionism

[Purveyor]

Source: Associated Press

British Prime Minister Gordon Brown said Wednesday an "economic hurricane" has swept the world and U.S. leaders shouldn't view the crisis as limited to America's borders.

In a formal address to a Joint Meeting of Congress, Brown said that protectionism ultimately makes every nation vulnerable because "a bad bank anywhere is a threat to good banks everywhere."

"No matter where it starts, an economic crisis does not stop at the water's edge," he said told members of the House and Senate gathered in the cavernous House chamber. "It ripples across the world," declared Brown, whose speech was applauded on several occasions.

His remarks came as Brown looks for a boost to his own political fortunes. In hard political times at home, he hopes to benefit from Britons' high regard for President Barack Obama and to demonstrate British leadership at a time of economic uncertainty.

He was facing a U.S. Congress deeply divided on how to solve America's economic crisis, with Republicans sparring with Obama on whether government intervention and money can salvage financial markets.

Read more: http://kdrv.com/news/national/95289

[Deja Q]

1. If other countries engage in protectionism, then will Gordon change his mind?

Or is it only the US that should not be allowed to do a thing; everyone else can do what they want and then yell at us for even thinking about doing what they are doing?

http://economictimes.indiatimes.com/News/News_By_Industry/Jobs/Expatriate_executives_making_way_for_local_hires/articleshow/4039529.cms
(Just a little article posted by another DUer. The US is merely speaking words. Other countries are already engaging in actions. Is protectionism by the US wrong at this point? Indeed, define "protectionism"...)

[corpseratemedia]

2. so perhaps its the right thing to do

we're all vulnerable now with a WTO connected globalist system, he's got it (intentionally) backwards

[Freddie Stubbs]

3. Britain's Brown warns US against protectionism

Source: Associated Press

WASHINGTON – British Prime Minister Gordon Brown said Wednesday an "economic hurricane" has swept the world and U.S. leaders shouldn't view the crisis as limited to America's borders.

In a formal address to a Joint Meeting of Congress, Brown said that U.S.-European relations were at an all-time high and that the two nations must seize on the opportunity to bring about change. He warned that protectionism ultimately makes every nation vulnerable because "a bad bank anywhere is a threat to good banks everywhere."

"No matter where it starts, an economic crisis does not stop at the water's edge," he said told lawmakers gathered in the cavernous House chamber. "It ripples across the world," declared Brown, whose speech was applauded on several occasions.

The prime minister was facing a U.S. Congress deeply divided on how to solve America's economic crisis, with Republicans sparring with President Barack Obama on whether more government intervention and money can salvage financial markets.

Read more: http://news.yahoo.com/s/ap/20090304/ap_on_go_co/us_britain

[FarCenter]

4. Did anyone ask Brown why the UK did not regulate AIG's Financial Products division

Which was located in London, along with all the rest of the post-Thatcher unregulated finanicial shenanigans that have cost us trillions.

Brown should also cough to who is getting the 10s of billions from the US Taxpayer bailout of the London-based AIG Credit Default Swaps.

Duplicitous Brits!

[AndyA]

5. News flash to the world: America can't fix everything.

We need to help ourselves, now. We've sent jobs overseas, we've bought more goods from overseas than we've exported, and now we must focus on getting ourselves well first. You are just going to have to do the best you can, because we can't fix the whole world at once.

It's time for Americans to put America first, for a change. If we'd been taking care of ourselves all along, it's likely things wouldn't be so bad for any of us right now.

[lovuian]

6. ahh duh yes protectionism

you gave us a depression and you want our jobs to go to England NO freakin way

[goforit]

7. Sorry Charlie........WE WILL Protect our own jobs.....THANKYOU

[xchrom]

8. two things -- first AIG -- second --

damn what do we have to 'prostect' -- we don't 'make' anything here any more -- so what does the notion of American Protectionsim bug you so?

that we'll undrecut our service sector and fuck up yours?

dear gordon -- try making something again -- and then we'll talk.

[Algorem]

9. English guys are still telling us what to do?

[cobalt1999]

10. Notice how all these countries are worried the U.S. will start buying & making our own products.

I'm all for trade up until we are at a break even point, no trade deficits. Someone wants to sell us their products, fine, as long as they buy some of ours.

We can't keep supporting the world alone.

[Brimon]

11. Thanks for your kind words

of support.We Brits will be sure to remember them when we bury our Iraq & Afganistan war dead, you know the guys that are fighting up alongside your troops.Dipshits.

It is when times are difficult you find out who your true friends are obviously,if the comments on this thread & the anti British sentiment elsewhere on the board are typical of how mainstreet America feels about the U.K. then I have been sadly wrong about the so called "special relationship".Or do "special relationships" only matter when you need a poodle like Blair to legitimise illegal wars?

[EFerrari]

12. You seem to be mixing up several different things. Our troops

gave their lives to people like Bush and Blair -- to the class that benefits from these illegal wars.

The American people didn't benefit one iota from it. On the contrary, it cost us so much Bush didn't even want to include it in his budgets.

[Brimon]

14. That was not my point.

My point is that, irrespective of Governmental decisions, it is common or garden British troops who are laying down their lives & I am sure they would appreciate the fuck right off comments here.Furthermore I never suggested for a minute that American people benefited from it,I was merely pointing out that America will use us,Great Britain, when they need us &, judging by the comments on here today, discard us when they don't.

[EFerrari]

20. Right. And my point is that Bush and his cronies use ALL OF US

when they need to and discard us when they don't.

[cobalt1999]

13. So, Britain only joined the war in order to get paid?

You are nothing but paid mercenaries, is that what you are saying?

Friends help each other out, they don't usually go around charging each other. Maybe that's a U.S. thing, maybe in Britain, friends expect & demand payments for favors.

[Brimon]

16. cobalt

No we have in the past & will no doubt ion the future fought alongside & supported the U.S. is it too much to expect some loyalty in return?

According to you "Friends help each other out", I must say the comments on here regarding the British really bears your belief out.

[cobalt1999]

17. ...and the U.S. has fought alongside & supported Briton in the past too

Historically & militarily, this has always been a two way street.

Let me ask you this though. If you, personally, were struggling with finances, would you ask a friend who is also struggling just as badly for money? It's one thing if you have a friend who is doing well, but someone in the same situation as yourself or even worse than yourself?

Would you do that? Would you drag up every favor you ever did for them in order to get money they don't have? Would you?

[Butch350]

15. Heads up chap....

I am an american who appreciates the sacrifice your BRAVE and COURAGEOUS soldiers have shared with ours!!! And the economy
is a WORLD problem now more than ever!!

[Brimon]

18. Friendship

No I wouldn't be as insensitive as to ask him for money,knowing we were both in the same position, but I would look for ways of mutually helping one another based on our longterm friendship. Likewise I wouldn't shut up shop on him like is being advocated here.

[cobalt1999]

19. You realize that Britain has an almost $7 Billion trade SURPLUS with the U.S.

How about finding a way to reduce that to a more equitable number as a way "of mutually helping one another based on our long term friendship"?

I can't speak for some of the "shut up shop" attitudes, but expecting things to stay as they are isn't fair either.

I don't see you admitting Britain has benefited to the tune of $6-7 Billion each year and offering to reduce that as part of a "friendship".

Britain is in better shape than the U.S., their currency is stronger, they have a trade surplus with the U.S., so in the spirit of friendship, who should be helping whom?

[NM Independent]

22. Oh, can it "dipshit:"

Because we don't want to have trade deficits we're protectionists?

Oh, and don't you dare complain about the handful of war dead that the brits have accumulated. Do you have any idea how many thousands upon thousands of our guys died to pull you and the rest of Europe out of Hitler's grasp? Yeah, short memory, much?

We don't take kindly to brits telling us what to do, EVER! Our nation was founded on giving you guys the finger for doing just that. What the hell do you expect.

[anonymous171]

21. Protectionism is only bad when America does it.