Obama's free trade sleight of hand

[Enrique]

http://www.huffingtonpost.com/tim-robertson/obamas-free-trade-sleight_b_993403.html

(...)

Here comes the switch. Beyond the talking points of these FTAs are a broad swath of new rights to multinational corporations that make the idea of corporate personhood seem quaint. The deals allow corporations to challenge public interest laws in international tribunals,with domestic courts powerless to stop them. Anything from minimum wages and clean water regulations to anti-teen smoking initiatives and recycling rules are vulnerable.

Additionally, they would further deregulate financial services -- a startling giveaway to the same firms that just wrecked our economy -- provide for price hikes on name-brand drugs, streamline exploitation of rural resources, and challenge such popular initiatives as local hiring preferences and "Make it in America" laws. The list goes on.

But just so we don't catch on to the true costs of "free trade," there's even misdirection. In his September jobs speech, Obama mentions none of this, instead evoking images of Kias and Hyundais prowling American streets and implying that the Korea FTA will somehow lead to "Fords and Chevys and Chryslers" garnering a similar market share in Korea. A nice thought, but misguided considering Koreans prefer smaller, cheaper, more fuel-efficient, Korean-made autos, and no FTA can change that.

The government's own U.S. International Trade Commission agrees. Even after Obama negotiated weakened efficiency standards for U.S. auto exports to Korea, the agency projects a several hundred million dollar increase in the U.S. trade deficit in autos and auto parts due to the Korea FTA. To borrow the president's metaphor, the deal will actually lead to more Kias in the U.S. compared to U.S. autos in Korea, resulting in greater job loss.

Of course, that's the big reveal. Abracadabra. These deals cost jobs.

(...)

[teddy51]

1. I think we are hooped no mater which way we turn. It would seem that one is

almost as bad as the other come Nov 2012. Where do we turn for change from the Rich, and Big business?

[Pirate Smile]

2. That's ridiculous.

[teddy51]

4. And why would you see my post as ridiculous? n/t

[Autumn]

3. I think the word hosed comes to mind

:-(

[Honeycombe8]

5. I suspect this is an overly dismal, simplistic, one-sided view. Even so...

I suspect that there is some truth to this. And this makes me very sad. And very ticked off.

Is it complete, now? Do the corporations run everything, now? Have they reached their goal? Their shining city on the hill?

[FrenchieCat]

6. I am not for these Trade deals, even if they are slightly improved,

and I have written the White House articulating this several times. I just wrote again.