Since China has received most favored nation status in terms of trade, US corporations have sent nearly 3.2 million good producing American jobs there. Then the CEOs of those corporations have had the corporations export their products from China to the United States, which has resulted in an massive trade deficit with China.
The corporate news media doesn’t want you to know that the biggest trade deficit the US has is with US corporations that have exported or created jobs overseas that would all be in the USA in the absence of these income redistribution treaties Wall Street Senator Ron Wyden erroneously calls free trade treaties. The largest trade deficit, therefore, is not with China.
Actually, the senator is not the dumb little boy he pretends to be in public forums. He knows these are income redistribution treaties, he just likes to feign ignorance, so as to appear to the folks he’s supposed to represent that he really represents Wall Street interests at the expense of the 99 percent.
Anyway, the difference in pay between the former higher paying 3.2 million jobs in the USA and the new 3.2 million lower paying jobs in China goes into the pockets of the 1 percent via higher profits, rising share prices and surging dividends.
This redistribution of income goes on year after year after year for so long as those jobs exist, which is why the stock markets are at an all time high. The rich have taken their ill gotten gains and bid up corporate share prices.
They’ve also taken great chunks of that money and bid up of the price of politicians, such as President Obama, and Wall Street Senators Ron Wyden and Mitch McConnell. That’s precisely why all three of these folks support the Trans Pacific Partnership, the largest income redistribution treaty of all time.
A total lack of transparency over the so-called free trade treaty’s components and some emerging details have created unlikely allies on the issue. Details from negotiations have been leaked against the wishes the president.
From these documents, which can be found on Wikileaks, we know the secretive Trans-Pacific Partnership will grant investors of the 0.01 percent special privileges to challenge labeling and health and safety local laws and regulations of the 99 percent; which will effectively eliminate your votes on local and state levels for and against such things (which most people call voter suppression, but in this case it should be called voter elimination), outsource millions of jobs, offer new monopolies for Big Pharma to raise medicine prices they charge you (which redistributes income from the 99 to the 1 percent), limit food safety standards (which redistributes and transforms your health into the profits of the 1 percent), and block financial regulations aimed at preventing the next financial crisis (which will make it easier for Wall Street to redistribute your income and wealth to the 1 percent). It will also kill the remainder of the US textile industry, destroy millions of jobs in Latin America, drive millions of undocumented immigrants into the United States, and depress wages in both North and South America, all to the benefit of the 1 percent, and all at the expense of the 99 percent. And we can’t forget that it will increase the already massive US trade deficit with other nations, which is supposed to be a bad thing. In other words, this scam is the largest income redistribution treaty of all time from the 99 to the 1 percent.
Sounds like a great deal for the 1 percent. And we barely know any of the details.
This is called political corruption to the highest degree.
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