A fair trade relationship between countries is something to be desired. Each country can take advantage of its relative strengths and both countries grow economically. An unfair trade relationship, however, can be as destructive as the fair one is healthy, and can lead to the decline of a civilization. This latter case is precisely the malaise afflicting America. Just look at our relationship with China as an illustration.
Tag Archives: Wall Street
This article originally appeared on OpEdNews.com.
Back in 2005, I wrote an extensive series of articles on Wal-Mart and how one corporate giant was outsourcing anything and everything that American industry wouldn’t provide to them for resale at the prices they demanded. I opined that their actions were in essence “a national security risk” as we outsourced our light and heavy industry to other countries – especially to countries that were not necessarily “friends” of the United States. In fact, I wrote about the dangers of outsourcing before “WakeUpWalMart.com” even came into existence. I insisted that “the best price wasn’t always the best deal,” especially as to how it would eventually impact our own economy – and even more importantly, the impact on our national security. The article was titled “Wal-Mart – And the Destruction of our Economy.”-
Readers ask if the financial crisis is over, if the recovery is for real and, if not, what are Americans’ prospects. The short answer is that the financial crisis is not over, the recovery is not real, and the U.S. faces a far worse crisis than the financial one. Here is the situation as I understand it:
Sen. Bernie Sanders proposed a constitutional amendment today that would overturn Citizens United and make it clear that corporations are not people.
SECTION 1. The rights protected by the Constitution of the United States are the rights of natural persons and do not extend to for-profit corporations, limited liability companies, or other private entities established for business purposes or to promote business interests under the laws of any state, the United States, or any foreign state.
SECTION 2. Such corporate and other private entities established under law are subject to regulation by the people through the legislative process so long as such regulations are consistent with the powers of Congress and the States and do not limit the freedom of the press.
SECTION 3. Such corporate and other private entities shall be prohibited from making contributions or expenditures in any election of any candidate for public office or the vote upon any ballot measure submitted to the people.
SECTION 4. Congress and the States shall have the power to regulate and set limits on all election contributions and expenditures, including a candidate’s own spending, and to authorize the establishment of political committees to receive, spend, and publicly disclose the sources of those contributions and expenditures.
In a statement Sen. Sanders said, “There comes a time when an issue is so important that the only way to address it is by a constitutional amendment.” Sanders said of the effort to override the court decision that he labeled “a complete undermining of democracy.”
The following article is from RobertReich.org.
Wall Street is its own worst enemy. It should have welcomed new financial regulation as a means of restoring public trust. Instead, it’s busily shredding new regulations and making the public more distrustful than ever.