The North American Free Trade Agreement (NAFTA) was created on January 1, 1994. It is an agreement between the United States, Canada, and Mexico. This particular “free trade” agreement was supposed to spur an increase in trade, exports, foreign investments, wages and standards of living. Reduced migration and reduced prices for goods were also supposed to result from NAFTA. Unfortunately, no good has actually resulted from NAFTA.
Tag Archives: Manufacturing
Our nation loses 14 manufacturing plants per day and has lost over one-third of its manufacturing jobs over the last dozen years. The United States used to be a wealthy country, not one buried in debt. We accumulated abundance through most of the twentieth century, as we were a very productive country whose wealth derived to a great extent from manufacturing. Our companies invented and produced many of the things we needed and much of what the rest of the world needed.
The United States has not had a trade surplus since 1975. Over $8 trillion has been lost through trade deficits between 2000 and 2014 alone. This is caused by “free trade” on our end and protectionism on the other. “Free trade” has essentially led to the most massive wealth transfer in the history of the world.
Our nation’s economy is a one-way ticket to running straight into the ground. Our jobs are shipped overseas due to the so called “free trade” agreements our political leaders have forced on us. Our middle class is diminishing and our trade deficit is growing by every second. Things are only getting worse.
Once the wealthiest city in America, known as the “arsenal of democracy,” Detroit was the fourth largest city in the U.S. in the 1960s, with a population of two million. Now a microcosm of everything that is wrong with the American economy, Detroit has become nothing more than a devastated landscape of urban decay with a population of about 700,000.