An act by Wall Street Senator Ron Wyden tells us much about the backroom deals between congress, the white house, major corporate players and others of the 1 percent during the last six months. All of this was predicted on the pages of this blog.
Wyden who pretends to represent the people of Oregon on social issues, and who represents Wall Street and, mostly out-of-state, corporations on all economic issues, once stood against the secrecy and lack of transparency in the on-going negotiations of the Trans Pacific Partnership (TPP), the biggest free trade treaty of all time. That means it’s also the biggest income redistribution scam of all time, and it will also usurp many local and state laws. Like Nafta, these laws will be challenged in secret tribunals presided over by corporate lawyers who will be called judges. You won’t get to be there.
Wyden expressed worry about Internet freedom and the TPP last year. Curtailing such freedoms would prove a disaster for many of his actual constituents; Google, Microsoft, Goldman Sachs and many other corporations. Of course, keeping these stock prices high is in harmony with the desires of executives from such notorious income redistribution corporations as Goldman Sachs, JP Morgan and numerous hedge funds, which are also represented by Wyden against the interests of the people of Oregon.
During the spring of 2013, Senator Wyden announced that he was against fast track for the TPP. Fast track is defined by Wikipedia as, “The fast track negotiating authority (also called trade promotion authority or TPA, since 2002) for trade agreements is the authority of the President of the United States to negotiate international agreements that the Congress can approve or disapprove but cannot amend or filibuster.”
It’s likely the TPP will never be approved by congress if every congressman and senator demands changes to the terms of the agreements. That’s because many Americans would not be happy that their jobs will be shipped overseas because of the treaties, and they’d call their congress person and let them know this.
A few days ago, Wyden announced that he supported fast track for the TPP. This suggests that behind closed doors, entirely in secret, the senator who once deplored the secrecy of the negotiations behind the TPP, negotiated an even more secret deal with President Obama that will make the corporations mentioned above happy should the treaty become law.
In other words, Wyden’s announced support for fast track means the 1 percent have formed ranks behind the treaty in order to redistribute more income and political power from the 99 to the 1 percent.
Wyden knows this treaty will wipe out a couple hundred thousand jobs in the US textile industry alone; and that it will put half a million or more people in Central America’s textile mills out of work.
That’s because Vietnam is going to be part of the TPP. Vietnam has lower wages and worse working conditions than what is found in Central America. Central America’s textile mills will migrate to Vietnam. The mills in Central America receive their tread, yarn and fabric from United States textile mills, and this supports about 200,000 US jobs. However, Vietnamese mills get their yarn, thread and fabric from China. The wages there are considerably lower than in the US. So the US jobs will migrate to China. When that happens, the difference between the old higher wages of the US (and Central American workers) and the new, cheaper workers of China (and Vietnam) will go into the pockets of the 1 percent via higher corporate profits, dividends and share prices. The losers of the 99 percent might get unemployment benefits, if they happen to live in the US.
These textile jobs, and the jobs that will also be lost in other industries, allow people to pay taxes. The loss of these jobs means that financial support for schools, fire, police, road maintenance, the social safety nets and other government services, will diminish. The quality of life for the 99 percent will further diminish. K-12 classrooms will become more crowded, pension benefits will ebb, fees for the use of parks will go up, college tuition and fees will soar even more, public employees will have less money to spend; and all of this will depress demand for goods and services even more, which will in turn place downward pressure on private sector wages.
The TPP will also send hundreds of the thousands, perhaps millions, of Latin Americans scurrying into the United States illegally in search of work, pushing down wages here, and putting greater financial pressures on social services, just like Nafta did.
These examples are just a tiny tip of the economic tsunami that’s going to sweep hundreds of billions of dollars every year out of the pockets of hard working Central Americans and United States citizens and into the already fat wallets of the 1 percent.
All of us of the 99 percent, in both North and South America, as well as all over the Pacific Rim, are in this together. We’ll sink even more if the TPP becomes law. Should that happen, the 1 percent will simply have more of our money to rig the economic game against us by corrupting government even more than it is. Oh, and by the way, we can’t forget that the Dow Jones will climb higher, since the money that will be redistributed from the 99 to the 1 percent via the TPP will be used in part to bid up the price of corporate stocks and bonds. Wall Street likes that. Therefore, so does Wyden.
The apex of corruption is Ron Wyden. He knows everything and more of what’s written in this story. He doesn’t care. He represents only one thing: organized big money. That’s why he’s a study in total depravity.
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