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Old 01-15-2010
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TropicCat TropicCat is offline
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You make a good point yet when you have 2 billion people in China and India willing, ready and able to replace every American job they can, and American corporations more than willing to oblige them, what choice is there? As long as the job market is tanking, real estate goes down with it. This is a significant portion of our economy. As real estate goes down, we need more and more bank bailouts, industry bailouts... and so on. Right now our debt exceeds our GDP. This can not continue. In our race to join Mexico at the bottom of the economic ladder, the American economy is being systematically damaged and American lives along with it.

Free trade was supposed to prevent this. Instead, it's accelerating it. So I ask once again, what choice is there?

You ask how this will be implemented? That's a very good question. Ronald Reagan headed us towards this cliff, Bill Clinton put us on the precipice and George Bush pushed us over the edge.

Consider that the $36 billion American monthly trade deficit is the equivalent of 4 IBM size companies hiring and doing business in America. That's 400,000 employees x 4. Look at the unemployment numbers and you will discover that 22% of our workforce can not find a job. That's 30 million people. Economists use a 4 x multiplier to estimate service jobs created to support high paying jobs. My point is that even if we passed laws tomorrow to zero out our trade imbalance, this would create a grand total of 4 x 400,000 x 4 or only 6.4 million jobs. No where near enough to address America's unemployment issue.

This is how bad things are. Our economy has not only fallen off a cliff but politicians have attached rocket motors to accelerate it's race to the bottom of the ravine. What is being sacrificed is our middle class.

Drastic measures are necessary to save us at this point. I can only hope that somewhere in Washington there is the political will to begin the process of unraveling the issue.
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