Thursday, July 17, 2014

Aviation Week on the Ex-Im bank

According to Aviation Week, the Ex-Im bank makes a small profit each year.  Their loan default rate is 0.211%  (which is pretty good considering they are making loans to overseas borrowers who are usually immune to American courts)  So, Ex-Im  facilitates $30 billion a year in exports and costs the tax payer nothing.  What's not to like?
  And, all the other countries in the world operate their own versions of Ex-Im.  If we stop doing it, they will keep on with it.  And sales that might have come to American companies, and kept American workers employed will go to our overseas competitors. 
   As you might imagine, Aviation Week is something of an industry mouthpiece.  On the other hand, they are quite reliable when it comes to facts.  I've been reading them for 40 years and they are straighter than the mainstream media ever was. 

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