U.S. trade and investment agreements have almost always resulted in growing trade deficits and job losses. Under the 1993 North American Free Trade Agreement, growing trade deficits with Mexico cost 682,900 U.S. jobs as of 2010, and U.S.-Mexico trade deficits and job displacement have increased since then. President Obama promised that the U.S.-Korea Free…
The Congressional U.S.-China Economic and Security Review Commission has one job: to provide a realistic view of the relationship, unfiltered by diplomatic niceties. While some of its assessments may be overstated, it always contains important information, and this year’s report is especially sobering. [November 27, 2014 | Wall Street Journal Opinion] The bipartisan commission…
UNITED NATIONS – Now that President Obama has started his executive amnesty program to legalize five million low-wage workers, the White House and GOP leaders are discussing what essentially amounts to a jobs program that will benefit them. [by Curtis Ellis | December 3, 2014 | wnd.com] Obama met Wednesday with Sen. Mitch McConnell,…
Innovation is a central driver of growth. As a result, an increasing number of countries are seeking to become innovation leaders. Unfortunately, the methods that many choose are grounded in “innovation mercantilism”: a strategy that sees technology-based exports as the key to success while relying on distortive and protectionist tactics to achieve that goal. [Reposted…
The AFL-CIO is hosting a press briefing next Wednesday at 11:00 a.m. in the Murray Green Room on the topic of “What the TPP Negotiators Should Be Discussing Behind Closed Doors (But Aren’t)”. Speakers will provide a hard hitting critique of what is missing from the discussions that would be required to make this an agreement that works for…
The Obama administration is negotiating a huge trade deal. The President promises CEOs he will go against his own party to push its passage. To get this done the corporations are pushing Congress to pass something called Fast Track — a process that essentially pre-approves trade agreements before Congress even reads the agreements for the…
The economy added 321,000 jobs in November—a dramatic jump from October. Overall the economy is creating many more jobs, but the outlook remains guarded. [By Peter Morici | December 5, 2014] Unemployment stayed constant at 5.8 percent because the jobs count is based on the survey of employers, whereas unemployment is based on a direct…
NEW YORK – The recent decision by the Bank of Japan to increase the scope of its quantitative easing is a signal that another round of currency wars may be under way. The BOJ’s effort to weaken the yen is a beggar-thy-neighbor approach that is inducing policy reactions throughout Asia and around the world.…
In a speech to the Business Roundtable, President Obama reiterated his commitment to Fast Track trade authority and to stupid trade and global governance deals like the TPP. Obama, McConnell and Boehner all favor these trade deals. The professional opinion-havers in the media and on the Hill say they can cooperate on these mercantilism appeasement…
Hang on to your hats, America. And throw away that big, fat styrofoam finger while you’re about it. [by Brett Arends | December 4, 2014 | Market Watch] There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The…
