Not only has “free trade” led to the largest transfer of wealth in the history of the world, but trillions of American dollars have been lost due to the removal of tariffs, resulting in trade deficits. Additionally, “free trade” agreements are nearly impossible to enforce because they assume that every participating country will play by the same rules. This is seldom the case.
Tag Archives: NAFTA
Today is the day where millions of people celebrate Christmas. It is a time of the year where the shops close, the streets aren’t stopped with traffic, and the meals are a little tastier than usual. A time when our guard is down since we are consumed by festivities and when absolutely anything can happen. A moment when we turn a blind eye to the 2.5 million children out in the cold sleeping in the streets with parents that don’t have jobs or money. A season where we neglect to take precautions with regards to the food that we are feeding our loved ones.
For decades now, we have seen our economy struggle to recover jobs that have been lost to outsourcing. We must now come to the reality that our failed trade policies are destroying our economy.
Detroit was once a manufacturing giant—the 4th largest city in the United States, with a high employment rate and brimming with blue collar jobs. Now its unemployment rate hovers above 16 percent, and its population has shrunk so now it is only the 18th largest city. This quick erosion of the tax base has left Detroit with $18 billion in debt and no hope of recovery in sight. This caused the city of Detroit to declare bankruptcy.