Professor Morrisey:: UNTIL THE TRADE DEFICIT is resolved and

[OHdem10]

the GAS PRICES are lowered, we will continue to have
HIGH UNEMPLOYMENT. He says we have a structural problem
in our economy. The old cut taxes remedy is not going
to solve the problem. We must get our Trad Policies
right and until we do, we will continue to move along
with very high unemployment rates.

Professor Morrisey appears on almost all of the Cable
Networks including Business Channels.

From time to time I have posted this Unemployment Crisis
is due to Globalization and the USA mismanaging its
Trade Policy. The Chickens have come home to roost.
BTW, the Republicans are pressing Obama to sign 3 more
Trade Policies.
The GOP want to give their buddys (Transantionals) the
opportunity to send more jobs out of the country in
search of cheapest labor. (Oops, I forgot the DLC
is complicit in this.

[xchrom]

1. NAFTA Renegotiation Must Wait, Obama Says

http://www.washingtonpost.com/wp-dyn/content/story/2009/02/19/ST2009021903268.html?sid=ST2009021903268

OTTAWA, Feb. 19 -- President Obama warned on Thursday against a "strong impulse" toward protectionism while the world suffers a global economic recession and said his election-year promise to renegotiate the North American Free Trade Agreement on behalf of unions and environmentalists will have to wait.

Obama made the comments as he stood with Canadian Prime Minister Stephen Harper during his first trip abroad as president. The two pledged cooperation on efforts to stimulate the economy, fight terrorism in Afghanistan and develop clean energy technology.

In a joint news conference, Obama said he wants to find a way to keep his campaign pledge to toughen labor and environmental standards -- and told Harper so -- but stressed that nothing should disrupt the free flow of trade between neighbors.

"Now is a time where we've got to be very careful about any signals of protectionism," the president said. "Because, as the economy of the world contracts, I think there's going to be a strong impulse on the part of constituencies in all countries to see if we -- they can engage in beggar-thy-neighbor policies."

[OHdem10]

2. He also said we must bring the Wars to an end.

Three things must done.
Resolve the TRADE DEFICIT.
Get Gas Prices down.
End the Wars.

Until these are accomplish we contine to wobble along.

[OHdem10]

3. Using the Republican Talking Point---If you are not for Nafta, you

are a protectionist--is getting old.

Good Management of Trade Policy with some oversight
is not protectionist. There was no management. FREE TRADE
was permitted to become unregulated trade.

What about some FAIR TRADE??? Oh my, Wall Street will
yell at me and the Republicans will have seizures.

[xchrom]

4. ...

:spray: indeed.

[xchrom]

5. Off Shoring Ruined Incomes and Jobs for Most Americans

http://economicpopulist.org/content/shoring-ruined-incomes-and-jobs-most-americans

By paul craig roberts
walmart1-Optimized.jpg

The free trade theory set out by David Ricardo at the beginning of the 19th century is merely a special case, not a general theory.

These are discouraging times, but once in a blue moon a bit of hope appears. I am pleased to report on the bit of hope delivered in March of 2011 by Michael Spence, a Nobel prize-winning economist, assisted by Sandile Hlatshwayo, a researcher at New York University. The two economists have taken a careful empirical look at jobs off-shoring and concluded that it has ruined the income and employment prospects for most Americans. (Image: fisserman)

To add to the amazement, their research report, "The Evolving Structure of the American Economy and the Employment Challenge,"was published by the very establishment Council on Foreign Relations.

For a decade I have warned that US corporations, pressed by Wall Street and large retailers such as Wal-Mart, to move offshore their production for US consumer markets, were simultaneously moving offshore US GDP, US tax base, US consumer income, and irreplaceable career opportunities for American citizens.