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Posted: 9/7/2010 3:58:17 PM EDT

http://www.businessweek.com/ap/financialnews/D9I2KT180.htm



Schumer wants warning against coffee stockpiling



By TOM MURPHY

Java drinkers rest easy. Sen. Charles Schumer has perked up to the spiraling cost of coffee beans, and he wants something done about it.

The New York Democrat has asked U.S. Trade Representative Ron Kirk to warn major coffee growers Brazil and Vietnam at an International Coffee Organization meeting later this month to not stockpile their crops, a move that could further boost bean prices that already have spiked this summer because of poor crops in some regions.

The fallout from rising prices has been brewing for months. Coffee futures spiked in June and have remained high. Coffee producers and sellers –– including Folgers and Dunkin' Donuts coffee maker J.M. Smucker Co. and the Wawa convenience store chain –– have already raised their prices. Starbucks Corp. has said it will absorb the higher cost.

Why the buzz? According to Schumer, the issue goes beyond bad crops. The senator said in a statement that Vietnam bought more than 60,000 tons of its own coffee last spring and was considering a plan to stockpile up to 200,000 tons. Meanwhile, Brazilian growers have pressured their government to consider a similar move.

Schumer said coffee exporters are acting like "the OPEC of coffee," a reference to the Organization of Petroleum Exporting Countries, which has a large influence on oil prices.

"Play by the rules, that's all we're saying," Schumer said Monday afternoon in a phone interview.

The senator noted in a letter to Kirk that Brazil and Vietnam have accounted for about 45 percent of world coffee exports over the past 10 years, and the United States is the world's largest coffee importer.

"If it was just weather, there's not much you can do, but it's beyond weather," he said in the interview. "It's people trying to manipulate the market. We want to stop that."

Kirk will review Schumer's request and discuss it with him, said Carol Guthrie, a spokeswoman for the U.S. Trade Representative.

Link Posted: 9/7/2010 4:00:35 PM EDT
schumer is such an embarrassment to America.
Link Posted: 9/7/2010 4:00:46 PM EDT
What's he gonna do if they tell him to fuck off? Write a sightly more strongly worded letter? Use foul language? Introduce a tariff and start a trade war?
Link Posted: 9/7/2010 4:01:22 PM EDT
We need to run all those cunts out of DC.
Link Posted: 9/7/2010 4:01:33 PM EDT
Peak coffee?!?!

Link Posted: 9/7/2010 4:01:37 PM EDT
Link Posted: 9/7/2010 4:03:07 PM EDT
I really wish that fucktard would pull his lip over his head and swallow...
Link Posted: 9/7/2010 4:03:59 PM EDT
Sorry ya New York dickhead, I'm already stocked up. Mostly because of people like you.
Link Posted: 9/7/2010 4:04:31 PM EDT
Originally Posted By Partisan:
schumer is such an embarrassment to America.


QFT

If I was a coffee grower in Brazil or Vietnam I'd laugh my ass off Schumer and the stooge he sent to tell me to "play by the rules". I'd laugh even harder as I wiped my ass on the letter I'd send back to him with a carefully worded rebuttal.
Link Posted: 9/7/2010 4:06:05 PM EDT
I've been drinking less and less coffee. Sooo I think I'm good.
Link Posted: 9/7/2010 4:07:14 PM EDT
[Last Edit: 9/7/2010 4:08:03 PM EDT by Snips]
Originally Posted By Aimless:
I don't drink coffee and would do a little jig if an asteroid fell on Chuckie's noggin, but I don't see what the problem is with what he did here.


He is a liberal, therefore everything he says is a lie/stupid and must be mocked. Listening to the words of the enemy is dangerous and only those with special training should attempt it. Any pertinent information will be dispersed to the people through talk show hosts.
Link Posted: 9/7/2010 4:07:48 PM EDT
wtf
Link Posted: 9/7/2010 4:09:15 PM EDT
Originally Posted By Aimless:
I don't drink coffee and would do a little jig if an asteroid fell on Chuckie's noggin, but I don't see what the problem is with what he did here.


With you on this one. Chuckie is a fuck nugget but it sounds like he is trying to stop some foreign trade monkey business. By the way I am a devout coffee drinker but this will in no way affect my vote against Chuck "Tha Fuck?" Schumer
Link Posted: 9/7/2010 4:09:21 PM EDT
"Play by the rules?" What rules? Do countries have to put their crops on the market? Is there an international anti-trust law?
Link Posted: 9/7/2010 4:09:49 PM EDT
So, he thinks that Brazil and Vietnam are trying to drive up coffie prices while they also let their competition benifit from the higher prices because they are not selling on the market?
Link Posted: 9/7/2010 4:10:11 PM EDT

Originally Posted By fxntime:
Sorry ya New York dickhead, I'm already stocked up. Mostly because of people like you.

Um.. I don't think he is taking about a few bags you have stored away for preps......
Link Posted: 9/7/2010 4:10:28 PM EDT

Originally Posted By Eazy_E:
What's he gonna do if they tell him to fuck off? Write a sightly more strongly worded letter? Use foul language? Introduce a tariff and start a trade war?


Put them on double secret probation.
Link Posted: 9/7/2010 4:11:08 PM EDT
he should grow his own and quit being such a bull vagina
Link Posted: 9/7/2010 4:12:29 PM EDT
Tier 1 coffee is going up?

Danny
Link Posted: 9/7/2010 4:12:50 PM EDT


"Play by the rules, that's all we're saying," Schumer said Monday afternoon in a phone interview.


What fucking rules???
Link Posted: 9/7/2010 4:13:32 PM EDT
Originally Posted By Aimless:
I don't drink coffee and would do a little jig if an asteroid fell on Chuckie's noggin, but I don't see what the problem is with what he did here.


Because Chuckie doesn't understand the market. Instead, play the game. Spend the billions you are squandering on "projects" on buying up surplus US wheat, grains and corn at market pricing. Stockpile it and sell it to the countries that need it at a profit to the taxpayer and start paying down the deficit.

Or, just shut the hell up and quit acting like you know anything about business because you don't, you just know how to TAX them. [Schumer}
Link Posted: 9/7/2010 4:17:08 PM EDT
Originally Posted By JIP:

Originally Posted By fxntime:
Sorry ya New York dickhead, I'm already stocked up. Mostly because of people like you.

Um.. I don't think he is taking about a few bags you have stored away for preps......


Few?
Link Posted: 9/7/2010 4:20:10 PM EDT
[Last Edit: 9/7/2010 4:20:59 PM EDT by badfish274]
Originally Posted By ColtAllure:
"Play by the rules?" What rules? Do countries have to put their crops on the market? Is there an international anti-trust law?


Originally Posted By gonzo_beyondo:


"Play by the rules, that's all we're saying," Schumer said Monday afternoon in a phone interview.


What fucking rules???



http://www.wto.org/
Link Posted: 9/7/2010 4:22:25 PM EDT
Originally Posted By Aimless:
I don't drink coffee and would do a little jig if an asteroid fell on Chuckie's noggin, but I don't see what the problem is with what he did here.


He's being stupid.

1) It doesn't make sense that Brazil and Vietnam would lower sales to drive up prices when those who benifit are their competition.

2) He's saying they are stockpiling large quantities of coffie beans . . . which they already went to the trouble to harvest. They can't store these beans long without them degrading (losing taste or even rotting) and thereby losing value. Sure they may drive up prices, but YOU HAVE TO BE SELLING TO BENIFIT FROM HIGHER PRICES.

3) There really isn't anything we can do about it anyway, except engage in a trade war (short of actual war). He's just putting out empty threats. What's Chuckie gonna do? His party is looking at losing in November, few will want to jump on such a stupid bandwagon going into the election. Given the current political climate, this is stupid, stupid timing.

Link Posted: 9/7/2010 4:24:07 PM EDT
Originally Posted By Partisan:
schumer is such an embarrassment to America.


Bingo.
Link Posted: 9/7/2010 4:28:04 PM EDT
Originally Posted By fxntime:
Originally Posted By Aimless:
I don't drink coffee and would do a little jig if an asteroid fell on Chuckie's noggin, but I don't see what the problem is with what he did here.


Because Chuckie doesn't understand the market. Instead, play the game. Spend the billions you are squandering on "projects" on buying up surplus US wheat, grains and corn at market pricing. Stockpile it and sell it to the countries that need it at a profit to the taxpayer and start paying down the deficit.

Or, just shut the hell up and quit acting like you know anything about business because you don't, you just know how to TAX them. [Schumer}


Imagine if government used the free market to generate revenue instead of taxing us all to death... wow
Link Posted: 9/7/2010 4:32:38 PM EDT
Originally Posted By badfish274:
Originally Posted By ColtAllure:
"Play by the rules?" What rules? Do countries have to put their crops on the market? Is there an international anti-trust law?


Originally Posted By gonzo_beyondo:


"Play by the rules, that's all we're saying," Schumer said Monday afternoon in a phone interview.


What fucking rules???



http://www.wto.org/


Ever notice that we are the only ones who follow those "rules"?

And...we don't really follow those rules, either.

Link Posted: 9/7/2010 4:35:30 PM EDT
[Last Edit: 9/7/2010 4:35:42 PM EDT by badfish274]
Originally Posted By Cpt_Kirks:
Ever notice that we are the only ones who follow those "rules"?

And...we don't really follow those rules, either.



Those rules have led to the greatest expansion in the level of trade in the history of man, and the accompanying prosperity is real and quantifiable.

The number of examples of the rules being followed greatly exceed the instances where they are not.
Link Posted: 9/7/2010 4:40:21 PM EDT
Originally Posted By badfish274:
Those rules have led to the greatest expansion in the level of trade in the history of man, and the accompanying prosperity is real and quantifiable.

The number of examples of the rules being followed greatly exceed the instances where they are not.


I'm inclined to credit the USN and capitalism and technology, and the WTO not so much.
Link Posted: 9/7/2010 4:41:56 PM EDT
Coffee is a good item to stock in a SHTF scenario.

I don't drink it, but it WILL be worth much more when the SHTF.
Link Posted: 9/7/2010 4:42:35 PM EDT
Originally Posted By DonS:
Originally Posted By badfish274:
Those rules have led to the greatest expansion in the level of trade in the history of man, and the accompanying prosperity is real and quantifiable.

The number of examples of the rules being followed greatly exceed the instances where they are not.


I'm inclined to credit the USN and capitalism and technology, and the WTO not so much.


The WTO's tariff reductions are the very essence of capitalism. Adam Smith and David Ricardo are it's intellectual forefathers.
Link Posted: 9/7/2010 4:43:45 PM EDT
Got my 200 lbs. of Colombian Supremo put up at $2.40 a pound, biatches.

Since when does Schmuckmer give a shit about playing fair.


Link Posted: 9/7/2010 4:46:11 PM EDT
Up his ass with broken glass.
Link Posted: 9/7/2010 4:47:13 PM EDT
Originally Posted By Aimless:
I don't drink coffee and would do a little jig if an asteroid fell on Chuckie's noggin, but I don't see what the problem is with what he did here.


If he was breathin' when he did it, I see the problem.
Link Posted: 9/7/2010 4:53:17 PM EDT
Originally Posted By badfish274:
Originally Posted By Cpt_Kirks:
Ever notice that we are the only ones who follow those "rules"?

And...we don't really follow those rules, either.



Those rules have led to the greatest expansion in the level of trade in the history of man, and the accompanying prosperity is real and quantifiable.

The number of examples of the rules being followed greatly exceed the instances where they are not.


I would like to know who is prospering? I can tell you one thing, it ain't us.
Link Posted: 9/7/2010 4:55:53 PM EDT
Originally Posted By Schadenfreuda:
Coffee is a good item to stock in a SHTF scenario.

I don't drink it, but it WILL be worth much more when the SHTF.

Actually, the shelf life of roasted coffee is not ver ygood even in air-tight containers.

You need to store un-roasted and un-ground beans. And then be able to skillfully roast them after the world turns to shit.
Link Posted: 9/7/2010 5:09:06 PM EDT
Assault coffee has no sporting purpose.
Link Posted: 9/7/2010 5:29:14 PM EDT
I bet Schmuck thought there would be a shortage of Arabica beans after 9/11.
Link Posted: 9/7/2010 5:33:17 PM EDT
[Last Edit: 9/7/2010 5:33:40 PM EDT by WGPKlaus]
Originally Posted By Airwolf:

http://www.businessweek.com/ap/financialnews/D9I2KT180.htm



Schumer wants warning against coffee stockpiling



By TOM MURPHY

Java drinkers rest easy. Sen. Charles Schumer has perked up to the spiraling cost of coffee beans, and he wants something done about it.

The New York Democrat has asked U.S. Trade Representative Ron Kirk to warn major coffee growers Brazil and Vietnam at an International Coffee Organization meeting later this month to not stockpile their crops, a move that could further boost bean prices that already have spiked this summer because of poor crops in some regions.

The fallout from rising prices has been brewing for months. Coffee futures spiked in June and have remained high. Coffee producers and sellers –– including Folgers and Dunkin' Donuts coffee maker J.M. Smucker Co. and the Wawa convenience store chain –– have already raised their prices. Starbucks Corp. has said it will absorb the higher cost.

Why the buzz? According to Schumer, the issue goes beyond bad crops. The senator said in a statement that Vietnam bought more than 60,000 tons of its own coffee last spring and was considering a plan to stockpile up to 200,000 tons. Meanwhile, Brazilian growers have pressured their government to consider a similar move.

Schumer said coffee exporters are acting like "the OPEC of coffee," a reference to the Organization of Petroleum Exporting Countries, which has a large influence on oil prices.

"Play by the rules, that's all we're saying," Schumer said Monday afternoon in a phone interview.

The senator noted in a letter to Kirk that Brazil and Vietnam have accounted for about 45 percent of world coffee exports over the past 10 years, and the United States is the world's largest coffee importer.

"If it was just weather, there's not much you can do, but it's beyond weather," he said in the interview. "It's people trying to manipulate the market. We want to stop that."

Kirk will review Schumer's request and discuss it with him, said Carol Guthrie, a spokeswoman for the U.S. Trade Representative.



and I'd like something done about asshole, fuckstick Senators and Congress critters wasting the taxpayers dollars on coffee bean hoarding and professional athletes who 'roid up!


FUCK CHUCK
Link Posted: 9/7/2010 5:39:48 PM EDT
Link Posted: 9/7/2010 5:51:47 PM EDT
Schumer: Schondeh von der Goyim.
Link Posted: 9/7/2010 6:00:56 PM EDT
Anything Schumer's for, I'm against.
Link Posted: 9/7/2010 6:05:53 PM EDT
Well,at least he's found something meaningless to meddle with. Lets not bother him while he's busy ranting against third world coffee grower trade practices. It's better than him spending 100% of his time meddling in American affairs.

I'll drink Earl Grey and Coke if he messes up the coffee market.

Link Posted: 9/7/2010 6:06:39 PM EDT
His seat is up for grabs in November. New York State residents need to get to the voting booth on Primary Day, and then again in November. I know I'm probably pissing in the wind, but if we could fire Sc(h)umer, it would be epic.

Gary Berntsen and Jay Townsend are vying for the Republican line against him.
Link Posted: 9/7/2010 6:07:07 PM EDT
Link Posted: 9/7/2010 6:09:36 PM EDT

Where do they find these people
Link Posted: 9/7/2010 6:09:47 PM EDT
Does Schumer take his coffee black?

'Cause the US spends around $150MM annually in domestic milk subsidies to keep the prices artificially high.

Link Posted: 9/7/2010 6:13:26 PM EDT
Link Posted: 9/7/2010 6:16:25 PM EDT
Originally Posted By Aimless:

Originally Posted By mongo001:
Anything Schumer's for, I'm against.

Keeping in mind my previous post-a factory in my area went tit's up after a decline in production and employee numbers over a period of decades. What did the useless NY Repub party accomplish (NY's R party is not like the formerly organized and aggressive national party), nothing. It all fell through in the end, but Schumer scared up some investors and got it going again, Like I said it fell flat on its face, but he tried and I would bet got 0 votes out of it.

It is silly to assume because someone is evil and is your enemy that everything they do is therefore evil and should be opposed.


Maybe the useless NY Repub party recognized the failing enterprise for what it was?

So he found some sucker money and convinced them to throw more money away - a waste of their capital and his time - not exactly a ringing endorsement of his judgment or leadership... and you know somebody got something out of it along the way.
Link Posted: 9/7/2010 6:18:25 PM EDT
Originally Posted By Aimless:

Originally Posted By mongo001:
Anything Schumer's for, I'm against.

Keeping in mind my previous post-a factory in my area went tit's up after a decline in production and employee numbers over a period of decades. What did the useless NY Repub party accomplish (NY's R party is not like the formerly organized and aggressive national party), nothing. It all fell through in the end, but Schumer scared up some investors and got it going again, Like I said it fell flat on its face, but he tried and I would bet got 0 votes out of it.

It is silly to assume because someone is evil and is your enemy that everything they do is therefore evil and should be opposed.


He's the devil. You can clearly see the horns on his forehead in this picture.

Link Posted: 9/7/2010 6:25:57 PM EDT
Yeah, I'll bet Mr.Charles really cares what that round-eye has to say. I can see the Save the Starbucks t-shirts now.
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