In 1974, Fast Track Trade Authority—an unconstitutional way to negotiate trade—was invented. It was at this time that the great decline of the United States began, and it is no mere coincidence. It has been granted, off and on, to presidents ever since, and it never fails to lead to disastrous trade bills.
Tag Archives: Barack Obama
Although we escaped the dangerous threat presented by Fast Track last year, the proposed unilateral trade authority for President Obama is coming around for a second pass in 2015. Obama is seeking the authority to bypass Congress and pass certain “free trade” deals that he has been working on in secret. One of them is the Transatlantic Trade and Investment Partnership (TTIP) which we know very little about, but thanks to Wikileaks, the chapters we do know about show that this agreement to disastrous for America.
“Free trade” has essentially led to the most massive wealth transfer in the history of the world. The United States has not witnessed a trade surplus since 1975, and since then trillions of dollars have been lost through trade deficits caused by “free trade” on our end and protectionism on the other. The most significant flaw with all of our “free trade” agreements is that they are impossible to enforce, and because of this competition is impossible. “Free trade” depends on the premise that all countries will play by the same rules. However, in the real world, assuring that this occurs is incredibly expensive, time-consuming and inefficient to contest.
The U.S. Chamber of Commerce is the largest supporter of the Trans-Pacific Partnership (TPP). This group represents large multinational corporations, many of which are registered as American, but a large percentage of their businesses and profits reside in foreign countries. These large multinational corporations have no concern for what is in the best interest of our citizens or our economy. They are only concerned about making more profits. If they are not satisfied with their profits, the TPP would allow them to sue our government to change our laws and increase their profits.