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Washington's War against America's Middle Class
This article was originally written in 2013 as a followup to the material I first wrote about pertaining to US trade policy in my banned 2006 book, America's Financial Apocalypse. This book was not only the ONLY book in the world to have accuractely forecast nearly every major event related to the blow up of the real estate bubble and stock market, but also detailed numerous wide ranging topics that promised to adversely impact the US if not corrected, including the nation's healthcare system, soaring college costs, pension underfundedness, Social Security and of course, US trade policy.
See Also:
Free Trade And The Suicide Of A Superpower (Part 1)
Free Trade And The Suicide Of A Superpower (Part 2)
Free Trade And The Jewish Mafia
Ford As A Crystal Ball For America
Washington's War Against America's Middle Class
Video: Educating A Libertarian Hack From Harvard
7 Myths About US-China Trade and Investment
The Dirty Secret about Hedonics & Globalization
Thailand, Globalization and Real Estate Economics
America. What Went Wrong? (Part 1)
America. What Went Wrong? (Part 2)
America's Second Great Depression
The Death of Labor Unions in America
I have been discussing the adverse impact of U.S. trade policy on America’s working and middle-class for several years now. I began this discussion in America’s Financial Apocalypse.
As many of you are aware by now, over the previous two decades, with the inspiration of lobbyist bribes and other goodies, Washington intentionally designed system of unfair trade.
This mechanism forms a vital element of the globalization strategy laid forth decades ago by the ruling class of the advanced world. Over the past two decades, globalization accelerated due to remarkable technological innovations in transportation and telecommunications.
Bought and paid for by industry lobbyists, Washington passed laws that enable corporate giants to have valid excuses for sending jobs overseas. In some cases, Washington passed laws that have actually encouraged corporate migration overseas, such as Bush’s Jobs Creation Act of 2004, which designated corporate profits earned on foreign soil as tax-free.
Today, we are witnessing three decades of cumulative effects of misguided trade policy as well as a complete disregard for American workers. While corporate America continues to enjoy record profits and profit margins, tens of millions of Americans remain out of work.
As we have mentioned in the past, the big secret no one in the media is talking about is that in fact, corporate America is hiring. They just aren’t hiring in the U.S. Moreover, corporations are sitting on more than $2 trillion of cash, refusing to invest it into U.S.-based operations.
Meanwhile, most large U.S. corporations continue to shuttle billions of dollars of investment capital into Asia and Latin America for new facilities. This is not only preposterous. We argue that it is criminal, for it poses an economic risk. Anything that poses as an economic risk is thought to also pose as a national security risk.
Between 1980 and 2007, the U.S. experienced a shift in employment from medium–skill to low-and high-skill jobs. In other words, mid-skill level jobs were being replaced with low– and high-skill jobs. Generally speaking, low-, middle– and high-skill jobs are correlated with low, middle and high incomes.
Between 1993 and 2006, other advanced nations such as Japan and the UK also experienced a loss of middle-skill jobs.
Where did these middle-skill job losses come from?
According to data from Acemoglu and Autor (2010), middle-skill jobs were shed most from industries with high productivity levels and high productivity growth to industries with lower productivity levels and growth. Many of these middle-skill job losses and industry transfers occurred from within the manufacturing sector.
When it comes to the U.S. economy, Washington answers only to industry lobbyists.
This explains why energy costs are excessive.
This explains why no one is in prison for the securities fraud that caused the global collapse.
This explains why healthcare bills lead the nation as the number one cause of bankruptcy.
This explains why jobs continue to be sent overseas.
When it comes to domestic and foreign policy, Washington answers only to the Israeli lobby, AIPAC. AIPAC exerts control over U.S. foreign and domestic policy.
This explains why the Americans have lost their freedoms, why Christianity is being destroyed, why the family unit no longer exists.
It also explains why the U.S. is racking up massive national debt in order to send troops into the Middle East to slaughter innocent people. Meanwhile, millions of Americans are homeless and on the verge of suicide. Tens of millions of additional Americans have lost all hope for the nation they once thought offered freedom and opportunity.