After you read the facts below there is only one conclusion, we need a leader who is not from either of the two main political parties. This person would stand up with the people, be from the people and most importantly, for the people to end the lie of free trade.
Facts:
According to the IMF, China is now the number one world economy in terms of purchasing power. The Chinese worker may make less money on a hourly or yearly basis, but can buy more for their dollar as compared to anywhere else. We outsourced both our jobs and factories to them and as a result, consider the following.
*China leads the world in exports.
*this category to me is a negative, however it is listed as a positive. Chinese companies have more total debt than US or anyone. The thinking must be if you can borrow more, you can invest more, but I see this as a house built on sand.
*The US sold to China $121b in trade. China sold to us, $440b. This is how you develop a national deficit. By the way our leading component to China was Trash for recycling while they sold us computer equipment. This trade imbalance is what I have been writing about as our structural economic problem. We don't protect workers or industries while China and everyone else does.
*China is the world leader in manufactured goods.
*China is the largest new car market.
*China has the most foreign currency reserves.
*China imports the most gold, while at the same time is the worlds largest gold producer. By the way, they are looking to control this commodity.
*In addition, China produces more doctoral degrees in engineering than the US.
*China has the fastest train and best high speed rail network.
*It spends on infrastructure too. It uses more cement than the entire world combined.
*Under alternative energy, China is the number one producer of wind and solar power which was another American invention like the television to which neither political parties encouraged or defended.
Sadly, Robert Fogel of the University of Chicago projects that the Chinese economy will be 3x larger than the US by 2040. We can trace our decline from the anti-union movement with the biggest effects coming from trade agreements like NAFTA. Here is a quick recap of the so-called partnership.
*845,000 workers receive assistance under the Trade Agreement because they lost their jobs or factories were relocated. Of course, this adds to our national deficit.
*this trickles down and around to other jobs, so the total effect is closer to two million lost jobs except those people don't get assistance.
*our illegals grew faster after the agreement. See TWO-WAY STREET
*the year before the agreement we had a trade surplus with Mexico. Last year a trade deficit of $177b. Please note that Canada is included in that figure.
*Since the GM bailout, 70% of GMs cars have been built outside the US, mainly in Mexico.
*Since 2001 the US has lost more than 56,000 manufacturing facilities. Those were good paying jobs and the recovery gave us this job line, "Would you like fries with that?"
Sadly, back in 1950, 80%of ALL men had a job in the US. Today, 59%. This helps to explain why one in five kids are in poverty and 47 million collect food stamps. According to Alan Binder of Princeton, 40 million more jobs will be lost in the next 20 years. Knowing these results Obama is still pushing for the Trans-Pacific Partnership. A Republican will do the same thing, just call it something else.
By the way these deals are a
Two-Way Street
They bring a currency inflation to the other nation because we do subsidize certain industries like agriculture. I'm not against help to any industry or anything that helps workers. I'm just saying that these deals hurt ordinary workers everywhere. In Mexico corn farmers were put out of business and jobs were lost. This led to our illegals. See how things are connected. Mexican citizens suffered 38% devaluation in their purchasing power. The same effects happened with CAFTA too. Our government policies of so-called free trade ends up giving all of us the SHAFTa!
Maybe we cannot protect every job category or industry, but we need to turn the pendulum back to at least, protect what is left of our manufacturing and good quality jobs. Manufacturing is down to under 9% and shrinking. If we could just cut our trade imbalance by a half, we could create 5 million jobs to which means less kids on poverty with a hope for a future. Blame both political parties. We need a new voice, one that will represent the people and end the root cause of all evil - money. This leads to the culprit of our lost in purchasing power and standard of living-the FED. End the Fed!
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