3 July 2008
Economic Foundation Crumbling
Posted by Joy Bischoff under: World Economy .
Many people believe that the U.S. began to slip in the world economy because of the loan bubble but the truth is, free-trade started the slide. It was never even handed and in order to pull hesitant countries into the free-trade family, our negotiators were willing to sell America down the river. According to this article, we are also the victims of inept negotiators. The business of handling electronic money floating through the atmosphere cannot long sustain a nation. Manufacturing and farming will always be the foundation of real stability. Thanks to Peter Anderson for sending this along.
Free-Trade Chaos: Adios to U.S. Manufacturing
By Richard McCormack
Manufacturing & Technology News
Politicians Don’t Understand: Textile Maker Copland Industries Says Multinationals Are Killing The U.S. Economy
The federal government no longer represents the interest of U.S. manufacturing companies and their workers, instead siding with the Communist Chinese government that is putting hundreds of thousands of Americans out of good paying jobs, according to James Copland, chairman of Copland Industries/Copland Fabrics of Burlington, N.C. “The U.S. government’s policy is creating millions of jobs all right, but it is creating them in the People’s Republic of China and Vietnam at the expense of hardworking Americans here at home,” Copland told a congressional hearing. “Our country should be ashamed — totally ashamed - of what our government has done to working people in America.”
The U.S. government recognized problems with the communist Soviet Union, “but for some reason it fails to see it with China,” Copland told a hearing of the House Science Committee’s subcommittee on oversight and investigations on May 22. U.S. government free trade and manufacturing policies are the reason for the current economic slump and the gloomy attitude Americans have about their economic prospects. U.S. manufacturing “is in the midst of a crisis unprecedented since the Great Depression,” Copland said.
“Deeply flawed U.S. trade policy toward domestic manufacturing is the single most important root cause of the illness. Every American deserves the right to provide for his family, to own a home and to educate his kids, but our flawed manufacturing and trade policies are taking this away,” Copland told members of Congress. “Our Constitutional preamble says ‘a government of the people, by the people and for the people.’ We have forgotten about the words ‘for the people.’ “. . .
“We have got to start paying attention to what we are doing with these trade agreements. We have to get some people who know what they are doing with these trade agreements. We are being out negotiated. We better start paying attention to what we are doing because let me tell you something, we are exporting the wealth of this country as fast as we can export it. It is going offshore. We are going to pay one tremendous price in this country.”
7 Comments so far...
Benjamin Says:
3 July 2008 at 10:13 am.
So between inept negotiators and those who are cozying up to their buddies in China etc., then you add the politicians who want one world government, we have a recipe for disaster. Then when the credit bubble collapsed, we were left without the stability of a manufacturing base and had even started importing a lot of our food. And no one could see a problem coming?
Mac Says:
3 July 2008 at 10:20 am.
Actually I think a lot of people including economic experts saw the problem coming but not a lot of people listened to them. My guess would be that happened for three reasons. First, the MSM had slanted reporting. Second, the big boys were making lots of money and didn’t want anyone rocking the boat so they would mock the people who were saying the truth. Third, politically correct multi-culturalism spouted by the liberals and free trade by the conservatives and we’re screwed.
Jan W. Says:
3 July 2008 at 2:15 pm.
If I think about this to much it makes me sick. Whenever somebody wants to do something about this and speaks up then everybody screams that they are a protectionist and they shut them up. Aren’t we suppose to protect our families and communities? Why shouldn’t we protect our country from being ruined by losing millions of jobs so we can feed our families? Every other country understands this but ours.
Cavetrollhead Says:
4 July 2008 at 1:07 am.
Well before you blame the MSM, Mac, recall that Michael Medved, Rush Limbaugh, and many other conservatives have been touting free market ethics all the while jobs are going overseas. My whole family has echoed them and takes these conservative talk show hosts’ reasoning as almost gospel.
I have argued all along that exporting jobs is dangerous. Sending jobs to China and India? They have most of the worlds population. They are bottomless pits for jobs, but when does their prosperity come back to US companies? Not for a great while. Are the Chinese spending a lot on American made goods? I doubt it, but tell me if I am wrong. I suspect the Chinese government is making a concerted effort to keep the advantage tilted toward them. And I will bet the same for India. They can drain us for years and years still without returning there business to US made goods. But they have the rest of the world to trade with. They don’t rely on our prosperity- but we are banking on theirs in the hope they will spend their money here? FAT CHANCE!!!!
“We have forgotten about the words ‘for the people.’”- That punctuates the situation.
Hank Says:
4 July 2008 at 1:35 am.
That is straight thinking there Cave. For the people…something that they aren’t remembering at all lately. I like ole Rush but I don’t agree with him on free trade. He spouts the party line even though the majority of the party no longer agrees with it.
THINKING Says:
4 July 2008 at 12:00 pm.
I read and study alot , maybe it is time to make a few comments.
FREE TRADE. send manufacturing overseas or to Mexico?
…think about it
No child labor laws
No unions
No minimun wage
No enviromental controls
No workmens compensation
No unemployment No social security tax
No overtime
No Osha
Etc, Etc
Remember the moto from the past? As General Motors goes, so goes the nation.
GM stocks were at 1954 prices this week.
Saddened Says:
4 July 2008 at 2:19 pm.
Thinking, welcome aboard. Your thinking seems to be very clear but scary too. I was watching the news last night about GM and I had the same thought. Good list of reasons for free trade. Lots of reasons for a company to do it. Too bad our government makes it so easy.
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