Tag Archives: Trade

Remember those 13 American colonies of Britain? Get ready for 50 American “colonies” under China

50 more stars?

The American Revolutionary War was really all about trade and the exploitation of colonies across the world by the British Empire. Nobody wanted to live under foreign subjugation, and you can’t blame them.

Today, we face a trade war with China that could set us back 214 years to colony status.

The British were the worst in trade with colonies. They even allowed a government-chartered corporation to build an army of 28,000 to rule India, so that nation’s conquered poor would supply cheap raw goods to Britain.

The London mills then turned cotton, for example, into expensive cloth, sold for top dollar. The people in India never shared in the wealth their country generated until freedom in 1947.

Another example of Britain’s avarice was the slave trade. While some 300,000 Africans were shipped to the American South, some 2.6 million were sent by the British to the Caribbean to harvest sugar. By the Civil War the 300,000 in America had grown in population to 3 million, but 2.3 million Caribbean slaves had died off, leaving just 300,000 survivors. Hell Britannia! Continue reading →

Trump card is the minimum wage. My bet: he just lost any chance of winning the Republican Presidential nomination

serfIn the Middle Ages an average duke or earl’s property was about 38,000 acres, and the “little people” grew the food and paid taxes to these aristocrats of yore, and the humble were called serfs and lived like dogs to support the castles for the very few.

The present crony capitalism is different. Our aristocrats elect public officials, set prices by corporations, and there are no serfs, just the “working class.”

Today’s lords and masters also make the dukes of old look like the pikers that defended them. Donald Trump, for example, boasts about $9 billion in wealth. That wouldn’t just buy him 39,000 acres, but at $10,000 an acre, he could acquire 900,000 acres or 1,400 square miles – enough to fit all New York City’s boroughs inside – four times – and still have 200 square miles remaining for golf courses and towers. At that size, Trump’s land could hold 40 million inhabitants at NYC density.

Asked if he is in favor of raising the minimum wage this week:

trumpDONALD TRUMP: I can’t be, Neil (Cavuto). And the reason I can’t be is [that] we are a country that is being beaten on every front economically, militarily. There is nothing that we do now to win. We don’t win anymore. Our taxes are too high. I’ve come up with a tax plan that many, many people like very much. It’s going to be a tremendous plan. I think it will make our country and our economy very dynamic. But, taxes too high, wages too high, we’re not going to be able to compete against the world. I hate to say it, but we have to leave it the way it is. People have to go out, they have to work really hard and have to get into that upper stratosphere. We can not do this if we are going to compete with the rest of the world. We just can’t do it. – most recent Republican debate

Donald Trump has a mixed bag of economic solutions, many bereft of the international Continue reading →

Useless Trade Assistance to be funded by cuts to Medicare

tpp

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.

Continue reading →

China has destroyed our factories and jobs because of its unfair import VAT policy, not just currency manipulation

BL-US-china-tradeAlmost 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.

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