Tapsearch Com EditorU.S. fires taxpayers
June 7th 2009 19:00
By Ray Tapajna based on an article by Chuck Harder - Tapart News and Art that Talks
Why would anyone on earth want to blow their economic life away like this.
The United States of America bails out the financial community after moving its factories outside the U.S. The U.S. Federal Government sponsored the moving of factories outside the U.S starting in 1956. This temporary program never ended and eventually they called it Free Trade. It now has turned into economic suicide with the powerful elite now led by President Obama ignoring it all. This comes after President Bush had America concentrating on his pre-emptive wars. Globalization and Free Trade have failed.
What is this thing called Free Trade?
In the 1970s. Henry Kissinger traveled the globe and in the Middle-East secured the profits from petro-dollars with the oild sheiks. The New York bankers were enjoying tons of money from the Middle East and then "loaned" the money to "Third-world" countries. ( A must read book about this process is The Confessions of an Economic Hit Man by John - See Confessions for History
While the international rich elite played the game of financial betrayal, the peasant classes in Mexico and Latin American were caught in a ringer. Industrial projects failed and the massive debt taken on by these nations could not be repaid. Mexico alone defaulted on over $100 billion owed to New York Banks, and the Middle East sheiks wanted their money back.
Meetings to rescue Mexico and get the banks paid, were held in New York in 1987. An investigative article titled , "Sweat Equity" indicated the most favored scheme was to industrialize Mexico into a low-cost, export producing giant. In this way, Mexico could pay the debt painlessly from new income producing business. There was no consideration of what this would do to the American working middle class. This class was chosen as the source to provide the wealth through the consumption of cheaper imports.
We all know now what happened. It was the greatest betrayal of workers in hsitory. The big banks, Wall Street and the stock market loved it. The stock market thrived on workers getting fired instead of hired. They labeled it as an increase in productivity but it was really a vast devaluation of workers. A new working poor class was created and it was obvious that the game would play itself out where even the cheaper imports were no longer affordable. Workers were "commoditized". Workers were put on a world trading block to compete with one another down to the lowest levels of wage slave and even child labor.
The NAFTA trade agreement sealed the deal that was going on for years. President Clinton let the world know that, "The store is open." in pushing the passing of NAFTA and GATT trade agreements which were not really based on trade but on portable factories ready to be moved again and again for the sake of the cheapest labor. USA workers could not compete with 59 cents an hour workers in places like Mexico and even less than that in other lands.
Soon after getting NAFTA passed, President Clinton had to rush billions of dollars more to shore up the peso and the Mexican economy. The first stimulus package went to a foreign nation.
The international "ponzi" scheme has run its course. Consumers in the U.S. shopped their way out of their jobs. They were also taxpayers. The entitlements and benefits that were built up for years faded away. President Obama comes with his stimulus packages and mortgages the coming generations to launch all the so called stimulus programs. However, the money went to bail out the financial communities and not the workers who lost their jobs.
In the last stimulus package, Federal Reserve Chairman Ben Bernanke told Congress that the best way to stimulate the economy is to buy domestically produced goods. He actually spoke global economic heresy. Now our economy based on making money on money is burning out and you would think everyone would take in what Bernanke said. It is actually an admission that Free Trade has failed and there are no more factories left to be moved.
Even if the bail out of the U.S auto industry does come about, there will only be a small fraction of workers left working. The steel industry once had 700,000 workers and the new steel companies have only a few thousand workers left. Nothing is adding up.
The largest employers in many major cities are government or medical related enterprised that are all dependent on taxpayers. Private sector production union workers not add up to only about 15 percent of all union members. Public sector union workers total about 50 percent. The rest are in the retail service sector with many workers at places like Wal-Mart need government assistance to survive. The prison population keeps breaking records.
It's a no win situation!
Only God knows what is coming next as President Obama stimulus packages will only delay the process with more money pouring down the drain.
Why would anyone on earth want to blow their economic life away like this.
The United States of America bails out the financial community after moving its factories outside the U.S. The U.S. Federal Government sponsored the moving of factories outside the U.S starting in 1956. This temporary program never ended and eventually they called it Free Trade. It now has turned into economic suicide with the powerful elite now led by President Obama ignoring it all. This comes after President Bush had America concentrating on his pre-emptive wars. Globalization and Free Trade have failed.
What is this thing called Free Trade?
In the 1970s. Henry Kissinger traveled the globe and in the Middle-East secured the profits from petro-dollars with the oild sheiks. The New York bankers were enjoying tons of money from the Middle East and then "loaned" the money to "Third-world" countries. ( A must read book about this process is The Confessions of an Economic Hit Man by John - See Confessions for History
While the international rich elite played the game of financial betrayal, the peasant classes in Mexico and Latin American were caught in a ringer. Industrial projects failed and the massive debt taken on by these nations could not be repaid. Mexico alone defaulted on over $100 billion owed to New York Banks, and the Middle East sheiks wanted their money back.
Meetings to rescue Mexico and get the banks paid, were held in New York in 1987. An investigative article titled , "Sweat Equity" indicated the most favored scheme was to industrialize Mexico into a low-cost, export producing giant. In this way, Mexico could pay the debt painlessly from new income producing business. There was no consideration of what this would do to the American working middle class. This class was chosen as the source to provide the wealth through the consumption of cheaper imports.
We all know now what happened. It was the greatest betrayal of workers in hsitory. The big banks, Wall Street and the stock market loved it. The stock market thrived on workers getting fired instead of hired. They labeled it as an increase in productivity but it was really a vast devaluation of workers. A new working poor class was created and it was obvious that the game would play itself out where even the cheaper imports were no longer affordable. Workers were "commoditized". Workers were put on a world trading block to compete with one another down to the lowest levels of wage slave and even child labor.
The NAFTA trade agreement sealed the deal that was going on for years. President Clinton let the world know that, "The store is open." in pushing the passing of NAFTA and GATT trade agreements which were not really based on trade but on portable factories ready to be moved again and again for the sake of the cheapest labor. USA workers could not compete with 59 cents an hour workers in places like Mexico and even less than that in other lands.
Soon after getting NAFTA passed, President Clinton had to rush billions of dollars more to shore up the peso and the Mexican economy. The first stimulus package went to a foreign nation.
The international "ponzi" scheme has run its course. Consumers in the U.S. shopped their way out of their jobs. They were also taxpayers. The entitlements and benefits that were built up for years faded away. President Obama comes with his stimulus packages and mortgages the coming generations to launch all the so called stimulus programs. However, the money went to bail out the financial communities and not the workers who lost their jobs.
In the last stimulus package, Federal Reserve Chairman Ben Bernanke told Congress that the best way to stimulate the economy is to buy domestically produced goods. He actually spoke global economic heresy. Now our economy based on making money on money is burning out and you would think everyone would take in what Bernanke said. It is actually an admission that Free Trade has failed and there are no more factories left to be moved.
Even if the bail out of the U.S auto industry does come about, there will only be a small fraction of workers left working. The steel industry once had 700,000 workers and the new steel companies have only a few thousand workers left. Nothing is adding up.
The largest employers in many major cities are government or medical related enterprised that are all dependent on taxpayers. Private sector production union workers not add up to only about 15 percent of all union members. Public sector union workers total about 50 percent. The rest are in the retail service sector with many workers at places like Wal-Mart need government assistance to survive. The prison population keeps breaking records.
It's a no win situation!
Only God knows what is coming next as President Obama stimulus packages will only delay the process with more money pouring down the drain.
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