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.
Tag Archives: Barack Obama
“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.
The United States is facing economic disaster on a scale few nations have ever experienced. Most people are unaware of the easily observable signs of this crisis, where it came from and how to stop it. While we persist in our superpower mentality, we have quietly become a second-class country in many respects.
It appears Obama’s desire for Fast Track Authority, which he wants so he can ram the Trans Pacific Partnership (TPP) and later the TTIP through Congress, has been postponed until next year. He had not only wanted to acquire Fast Track Authority, but also to get the TPP passed before the end of this year. This year both houses of Congress have rejected putting Fast Track Trade Authority to the floor for a vote and seem to have delayed it until next session.