Hillary
Clinton: ‘My dream is a hemispheric common market, with open trade and open
borders’, by Robert Romano
“My dream is a hemispheric common
market, with open trade and open borders, sometime in the future with energy
that is as green and sustainable as we can get it, powering growth and
opportunity for every person in the hemisphere.”
That was Hillary Clinton in a paid speech to Brazil-based
Banco Itau in 2013, now released by WikiLeaks, saying
that her dream is the entire Western hemisphere without borders, open trade and
a single economy.
In other words, let them eat NAFTA.
She really is Marie Clintonette. Clinton’s dream is a de facto end to American
sovereignty, where capital continues to flow overseas while hundreds of
millions of people who want to move to America would be given a free pass. It
is an unbelievable statement from somebody who at that point knew she would be
running for president in 2016. A statement, not of U.S. interests, but global
interests.
In this speech, Clinton revealed
what she really thinks about the critical issue increasing U.S. participation
in trade deals once she’s talking with the corporate interests involved: “I
think we have to have a concerted plan to increase trade already under the
current circumstances… There is so much more we can do, there is a lot of low
hanging fruit but businesses on both sides have to make it a priority and it's
not for governments to do but governments can either make it easy or make it
hard and we have to resist, protectionism, other kinds of barriers to market
access and to trade and I would like to see this get much more attention and be
not just a policy for a year under president X or president Y but a consistent
one.”
Got that, Ohio, Pennsylvania and
Michigan? Clinton doesn’t think the U.S. has outsourced enough industrial
production, jobs and wealth to foreign economies. She wants to double down on
trade, end borders and finish off what’s left of the U.S. economy.
Since 2000, the year China entered
the World Trade Organization and Congress granted it permanent normal trade
relations, the U.S. has racked up more than $8.5 trillion in trade
deficits, directly subtracted from the
nation’s gross domestic product (GDP). If we had produced those goods here,
U.S. GDP would be nearly $27 trillion, instead of today’s $18.4 trillion.
Instead, the economy has not grown above an inflation-adjusted 4 percent since
2000 and not above 3 percent since 2005, the slowest economic growth since the
Great Depression.
Since that time, the U.S. has been
losing labor participation among 16 to 64 year olds, those in their prime
working years, which has declined from more than a 77 percent rate at the turn of
the century to just 72.6 percent in 2015,
accounting for more than 10 million who either left the labor force or never
entered on a net basis since then.
So was it job outsourcing?
Consider, the U.S. market share of
manufactures exports worldwide —
that is, U.S. exported manufactures as a percent of worldwide exported manufactures — peaked in 1999 at 13.48 percent, and has been declining
ever since, according to data compiled by the World Bank. In 2014, it was down
to 7.45 percent.
Going back 30 years shows that as
U.S. market share of manufacturing rose worldwide in the late 1980s and 1990s,
so too did labor participation. And that once we were losing market share, labor
participation followed closely behind.
In the meantime, countries we
supposedly have "free trade" agreements with devalue their currencies
in effect levy a major tariff on our goods and grant themselves a major
discount on their goods shipped here. That's not free trade, which is supposed
to include reciprocal tariff reductions. It’s a one-way trade war.
The Oct. 2015 World Economic Outlook from the International
Monetary Fund (IMF) study of 60 economies including China found that “A depreciation in an economy’s currency is typically
associated with lower export prices paid by foreigners and higher domestic
import prices, and these price changes, in turn, lead to a rise in exports and
a decline in imports. Reflecting these channels, a 10 percent real effective
exchange rate depreciation implies, on average, a 1.5 percent of GDP increase
in real net exports,” which much of the increase happening in the first year.
This means that the more exporters,
particularly China, have devalued their currencies in recent history — whether
through fixed exchange rates or building up foreign exchange reserves or both —
the more products they were able to export. As a result, while U.S. global
manufacturing market share has been dropping, China’s global manufactures
market share jumped from 4.67 percent in 2000 to 16.35 percent in 2014.
With Clinton, based on her 2013
comments, we could expect these trends to continue. She will not only pass the
12-nation Trans-Pacific Partnership (TPP) trade pact, but work towards global
climate treaties and work to integrate the U.S. economy with other economies.
It will result in less growth, fewer jobs per capita, fewer opportunities and
more outsourcing, more trade deals, more immigration and more cronyism selling
out to global corporate interests.
And an end to U.S. sovereignty. When
you get down to it, Clinton is not running for President of the United States.
She is selling us down the river to service a globalist agenda. The only
question is whether the rust belt states of Ohio, Pennsylvania and Michigan are
paying attention.
Robert Romano is the senior editor
of Americans for Limited Government.
No comments:
Post a Comment