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.
Tag Archives: Trade Deficit
Usually, anything with the term “free” on it has a positive connotation: free cookies, free appetizer, free purse with the purchase of any item over $45, this salad dressing is fat free. However, using the example of “fat free,”when we ran some studies on supposed “fat free,” we found nasty results. Fat free use to be this great, healthy thing for our bodies and it turned out being the total opposite. Now that people have been burned by “fat free,” they are buying less and less of it. The same issue has been going on with “free trade.” At first, it was great! It was this new idea of trade without tariffs or duties and that benefited any partnering country. However, after indulging 20 years in “free trade,” we realize how bad it really is for America.
President Obama promised 5 million green jobs during his presidential campaign in 2008. Not only did he fall short by a long way, but in fact we’ve lost hundreds of manufacturing companies, with thousands of employees laid off. During his 2012 re-election campaign, President Obama promised jobs again, this time promising 1 million manufacturing jobs which he has yet to come close to fulfilling. He has only added a little over 189,000 manufacturing jobs. With so little being made in the United States compared to decades ago, we must now, more than ever, join together and buy American made products.
For almost two decades the U.S. has been living with the results of joining the World Trade Organization (WTO). The WTO is a self-serving and undemocratic organization that operates outside of our control. The U.S. Constitution states that all treaties made under the authority of the United States become supreme law of the land (Article VI). When our government signed the WTO treaty, unbeknownst to most Americans — including our legislators — our sovereignty was given away.
“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.