Fix the fake free trade deals or continue the destruction of the US economy.

[Elwood P Dowd]

http://tradealert.us/news_item.asp?NID=3532161

THE BUFFALO NEWS

U. S. must balance trade to end recession, financial crisis
By Jack Davis
SPECIAL TO THE NEWS

Updated: 12/07/08 7:32 AM

Even the most optimistic among us must now realize that the United States is in a recession. But if we all had good-paying jobs, we would not be in a recession.

We have lost 4 million manufacturing jobs since October 2002. There are now more than 10 million Americans out of work. The recession and financial crisis have been caused by the transfer of our jobs and our wealth to foreign countries. First we lost our jobs, and then our wealth.

Trade deficits kill domestic jobs. Our trade deficit is now $2 billion a day. Two billion dollars a day in imports is $730 billion a year. Today, $1 billion of manufactured imports equals 13,000 jobs lost — therefore, 9 million jobs lost.

Over the past 20 years, our trade deficit totals about $5 trillion. Not coincidentally, our government also owes foreign countries $5 trillion.

<snip>

Free trade is just another economist theory that has been a failure in practice: the NAFTA, CAFTA and WTO agreements have destroyed mining, farming and manufacturing and have transferred our wealth-producing capacity to foreign countries.

Robert Cassidy, the chief U. S. trade negotiator who negotiated China’s entry into the World Trade Organization, now says the deal has not worked to the benefit of the U. S. economy and its workers.

Warren Buffett, chief executive officer of Berkshire Hathaway, believes that over the long term, running large and persistent trade imbalances will be problematic for the United States.

Both Buffett and Cassidy are right. And the cold, hard facts now make it plain to see for everyone. The job losses are now no longer just in manufacturing. Managers, bankers, stock brokers, insurance agents — all types of jobs in retail and wholesale are gone. More than 10 million workers are out of jobs, more are under-employed and it will only get worse.

<snip>

[OhioChick]

1. The economy will continue it's downward spiral until

We revisit NAFTA, CAFTA, and WTO agreements, as well as the outsourcing/offshoring/onshoring of technology jobs.

Until then....expect this turmoil to continue.

K&R

[SammyWinstonJack]

2. K&R!

[blue_onyx]

3. YES!! I completely agree

This country has been sucked in by the free market BS even though it has hurt average Americans. Other countries use tariffs and trade restrictions for a reason. During our last Governor's election, the former CEO of Amway (the GOP nominee) was criticized for sending jobs to China. His excuse was that China required companies to locate in their country in order to sell there. Even China, who's economy is based on making products and shipping them to other countries, has taken trade policies that benefits their country. Our country needs FAIR trade policies that are in the best interest of our country, US companies, and US citizens.

[mrreowwr_kittty]

4. K and R. I expect the Free Trade Apologists will be along any minute now. nt

[OHdem10]

5. Thank you for posting this. It is imperative that this message

be front and center continuously.

We cannot continuously have 3/4 of American People lose jobs while
others lose amount of salary received and expect them to buy all
these imported goods. Look at the jobs described above --almost
all retail related in someway.

These Americans who call for a strong National Defense had better
think long and hard---Outsourcing will destroy our ability to
defend our nation. A country requires a strong mfg base to be secure.
Do you really think China, etc will provide us with war fighting equipment
should we GOD Forbid end up in a war???

[Billy Burnett]

6. This is a war.

Just as in WW2 the allied forces bombed the German manufacturing infrastructure to destroy it and bringing the regime down, the US manufacturing infrastructure is being destroyed by other means.

[OhioChick]

8. As is the tech industry.... n/t

[HughBeaumont]

7. End the Bushonomic Friedmanist cancer.

Don't let ANYone fool you. This was ALL by design.

One country making the stuff you used to make is KILLING us.

Manufacturing, industrial and liveable wage jobs cannot be replaced by the service sector. Anyone who thinks it can is talking all that jazz . . .

Opportunities and options for American citizens are dwindling, not increasing.

"SUCK IT UP! Who told you life was easy? SUCK IT UP! Pull yourself up by those bootstraps! There's nothing wrong with being a shelf stacker! Swallow that pride! You have a family to feed! If your lot in life is not to your liking, it's because YOU DIDN'T WORK HARD ENOUGH!!!

Creating a two class society - the "have it alls" and the "ain't got shits" - FOR LIFE.

You know what's awesome? Democrats who support Republican economic policies and insist they're correct. That's what's awesome!

And some possible solutions . . . acknowledging that it's a problem would be a good start.

[Azlady]

9. Kick & Recommend!!!!!

[mrreowwr_kittty]

10. Trade with other nations = Good. Massive trade imbalances = Bad.

A few days ago I was in a raging flamewar with some Free Trade advocates who were accusing people who wanted to protect American manufacturing and jobs of everything from not caring about the Third World to outright racism.

[Elwood P Dowd]

11. They are usually all over this board.

They simply do not care how many millions lose their jobs, and it doesn't bother them one bit that the foreign workers who take the jobs from U.S. workers are paid slave wages and treated like pure shit. They believe the corporate propaganda they have read about these flawed free trade deals, and nothing will change their minds. Anyone who opposes them is an "ist" - racist, isolationist, protectionist, nationalist, etc. They have all the corporate/republican talking points down but know little or nothing about the actual agreements, and they have no clue as to the amount of economic hardship these agreements have created both in the U.S. and abroad.

[mrreowwr_kittty]

12. What's really exasperating:

They embrace economic policies that depend completely upon unending growth and consumption, while at the same time chastising the West for its consumption habits.

[Greyhound]

16. Just as with health care here. Everybody loses except those for whom the system

was designed to benefit.

Put another way, follow the money.
:kick:

[sarcasmo]

13. Kick, to stop the further destruction of this once great Country.

[leftofthedial]

14. absolutely. any economic policy MUST include tariff reform.

we need balanced tariffs that restore competitive pricing for American products sold domestically.

right now, repuke-DLC trade policy gives foreign manufacturers a minimum 25% price advantage over Americans.

[OhioChick]

15. You're absolutely right. n/t

[Elwood P Dowd]

17. Our trading partners zap U.S. products with a small tariff, large VAT (up to 30%),

and numerous non-tariff trade barriers. They subsidize their own manufactures and reimburse them for VATs. It's possible for the price difference to be close to 50%.