“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.
Tag Archives: Barack Obama
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.
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.