Global trade pacts are destroying our country
With financial crises in Europe highlighted by demonstrations and riots, it’s obvious the current global trade agreements are not working there, either. If our decline continues, U.S. national credibility is bound to be questioned.
Why do we allow other countries to undercut our industries with unfair trade practices while permitting them to protect their manufacturers? Why did we forsake the successful New Deal system and the industrial capability that saved the free world, for one that constantly needs massive exotic borrowing and stimulus to stay afloat?
The supply-side system, which benefits the few and doesn’t produce enough revenue to support our economy and government, is not providing the standard of living previous generations had. No longer able to manufacture for ourselves and not being on the gold standard while mounting trillions in debt, what happens when the system collapses and foreign suppliers no longer value our currency? How can we defend ourselves against a future aggressor we encourage by handing over our wealth and technology while weakening ourselves in the process?
Many are unaware of the long-standing, close political association of President Ronald Reagan and Rep. Jack Kemp, which pre-empted Kemp’s representing Buffalo’s industrial district in favor of their trade scheme. Their bargaining efforts in the Screen Actors Guild and the AFL Players Association, respectively, proved a bonanza for themselves and their colleagues; a privilege they regarded as exclusionary for ordinary Americans.
Making icons of Reagan and Kemp and treating their institutionalized supply-side trade and economic policy as unassailable is making the United States a laughingstock among our Japanese and Chinese trading partners. This lack of common sense without attention to performance, versus a disproportionate premium on media glitz and fabrication, is a perilous ride before the fall.
Louis L. Boehm