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“Free Trade” was in the news this Memorial Day weekend. President Obama is pushing hard for “fast track” approval of his Trans-Pacific Partnership (“TPP”) Agreement, calling for a simple up or down vote without the possibility of amendments or floor debate.
The New York Times reported that Senate Majority Leader Mitch McConnell has forged a “rare alliance” with the president to push the trade legislation. Senate Finance Committee Chairman Orin Hatch has been quoted as saying, “it shows that when the president is right, we will support him.” (Never mind that Hatch has also been quoted as saying: “I don’t know fully what’s in TPP myself.”)
Dear Mr. President: With all due respect, how do you spell RED FLAG! Read More.
Our Comments : Capital Institute Blog - June 14, 2015
Just another BIG step backwards for America and more importantly its people, as at mere face value there are numerous serious and extremely negative consequences to this policy action and content.
Obvious points and concerns -
Exacerbation of the erosion of American jobs, indigenous industrial base and middle class.. With this, erosion of national competitive advantage resulting in increasing national, state and individual security risks. plus deep economic plight.
Continued dilution of democracy, constitutional powers and rights including those embedded in state and local authorities.
Excessive immigration and population leakage , putting increased pressure on social structures, wages, pensions and healthcare system creating more massive debt financing plus extreme social tensions, Then of course there are those fiscal budgets for states and cities.
Increased concentration of power with international oligarchs, banks and related military industrial complex whose goals and objectives are oriented solely towards self-interest; with no concern whatsoever for enlarging greater national principles of , by, for and with the people.
More erosion and diversion in the physical and conceptual resources needed to resolve imminent key pending issues that could be catastrophic to the country, economy and world-wide survival interests - including but not limited to ; climate change, resource depletion, degradation of bio-sphere and its diversity, wildlife extinction, toxoplasmosis containment, carbon exponents, ocean acidification and on...
Importation of disease, crime, extreme social and civil unrest from politically. socially ,culturally and economically destabilized regions and countries - who will be attracted to move their worst or best? These also create great excessive hidden and future costs for federal, state and local fiscal budgets
All of this, is just for starters off the top - there is just no way in the universe that you could "realistically" dream up positive reasons and rhetoric that creates a subjective benefit that outweighs the long list of object negative consequences associated with expanding free-trade agreements to the southern hemisphere . THEY ARE ALLLIES!!! Probably they are based on plans with immediate geopolitical or geoeconomic self-interests in mind. Not the people's long term goals.
To say the least; in my opinion, the world has changed dramatically over the past fifty years , and such economic free trade policies are not only intellectually deprived (no clear and valid metric), but they are foolhardy and archaic approaches that place longer-term national and individual security and economic interests in unprecedented jeopardy.
So sad, and this is just the "very short and prompt story "on this extremely misguided and incoherent legislation