Nabisco Corporation is the maker of Oreo cookies. Nabisco’s CEO has decided the best way to increase corporate profits is to lower wages. So she has authorized the shipping of 600 jobs in Chicago to lower wage Mexico. The difference between the old higher US wages, and the new lower Mexican wages, will go straight into the pockets of mostly rich shareholders and, of course, Rosenfeld’s wallet, as well. This will be achieved via rising Nabisco profits, surging share prices, and soaring dividends. The losers of those jobs will be lucky to get unemployment insurance for a while, until they get a new, lower paying job, if they’re lucky.
This scenario has been replayed over and over again, ever since NAFTA was enacted. NAFTA has redistributed trillions of dollars from the 99 to the 1 percent over and over again. The 1 percent used to steal only 8 percent of all income created in the United States. Now they’re robbing the rest of us blind, and this Oreo cookie (loaded with GMOs by the way) debacle is just one minor example of how income redistribution scams like NAFTA have played out.
President Obama and his henchmen, such as Wall Street Senator’s Mitch McConnell, Ron Wyden and Orrin Hatch, is pressing to resume negotiations on the Trans-Pacific Partnership, the largest income redistribution scam of all time. It’s falsely being labeled as a free trade agreement.