Turkish cotton farmers are angry at U.S. government subsidies so American farmers
can under sell Turkish farmers on the open market.
Re-Distribution of the Wealth - The U.S. government takes money from all taxpayers to subsidize the favored and well connected few
When your local Subway sandwich shop or shoe store is having a hard time the government (correctly) does nothing to help them. That is called free enterprise. You rise or fall based on your business ability.
But if you are big business and pay off the political whores in Congress, then suddenly countless millions of dollars of other people's tax money is re-distributed and is now available to grow your business with low interest loans, "special" tax rates, subsidies or bailouts.
The farmers of Turkey are not happy about endless U.S. tax money funding their competitors.
Turkish farmers are asking the Turkish government to come up with a financial scheme to protect the local agricultural sector from unfair competition from U.S. GSM loans as part of the government’s incentive package, which is currently on the table.
The GSM 102 and 103 loan programs, run by the U.S. Department of Agriculture’s Commodity Credit Corporation (CCC), aim to increase exports of American agricultural products, such as wheat, cotton, soybeans, sunflower oil, corn and peanuts reports Hurriyet News.
The loans have terms up to three years, and provide many advantages for importers due to their low interest rates. The U.S. has allotted $425 million in GSM loans for 2012, which is very high considering that since 1999 the total loan amount has been $1.6 billion.
“No Turkish institution can provide such favorable financing conditions, so naturally importers prefer American products,” said Bertan Balçık, executive board president of the Söke Chamber of Commerce. Söke, located in the Aegean province of Aydın, is one of Turkey’s leading cotton-producing towns.
“For years GSM loans have created a bad situation for Turkey, and they are the reason Turkish agriculture is less competitive internationally,” said Barış Kocagöz, president of the National Cotton Council.
(Hürriyet Daily News)
|Everyone from illegal aliens to labor unions to farmers to insurance companies to|
multi-national corporations are all sucking furiously on the public teat.