When Americans lose their job because it goes overseas due to trade deals, the victims can receive Trade Adjustment Assistance, a program that is supposed to help young and old find new jobs. Nice work if you can get it.
Some Democrat lawmakers and virtually all Repubs have praised this billion dollar effort since NAFTA began moving work to Mexico.
In 2008, Kara M. Reynolds of American University conducted a study that clearly showed workers who receive trade assistance did no better than regular laid off workers. Also, her study found that workers laid off from trade deals like the TPP on average make 30% less at their new jobs.
Almost 80% of the Senate (78-20) just voted for a measure that would cite foreign nations for manipulating the value of their currency, although the enforcement of any penalties was not and will not be addressed. But the real purpose of the vote was to give Democrats license to vote for Fast Track authority without seeming to be enemies of the middle class worker and the small businesses of the United States. The illusion will probably stick, as many hail this “bipartisan” action as the way to markedly reduce unfair trade practices – particularly by China.
Even the Washington Post, owned by Amazon’s CEO, explained: “… economists say such manipulation is no longer prevalent and that the longtime poster child of currency manipulation — China — has gradually stopped doing it.” So much for reality, when politicians have a chance to curry favor with big multinational benefactors for campaign cash and future lush (two martini lunch, anyone?) private sector jobs.
UPDATE: 2016 North American Trilateral Commission list now available here.
Have you ever wondered who were the members of the Trilateral Commission, a group which has been in the forefront of world control conspiracy theories for decades? Corporate heads, government officials in trade and commerce, columnists and publishers are included, along with NGO chiefs. One question is whether public acclaim leads to membership in the commission, or does commission membership lead to opportunities unavailable to the average Joe? Regardless of the answer, the commission’s networking possibilities and possible paths to collusion are vast.
Banks and investors own, plan to foreclose or auction, thousands of houses in Baltimore. Most are decrepit, but many are valued up to nearly a million dollars. But if you don’t have the cash, do you really think a mortgage company will finance your purchase here?