Trans-Pacific Free Trade Agreement – Out of the public eye, trade ministers and corporate lobbyists are pressing for a NAFTA-style deal that would encourage off-shoring of US jobs and drive down wages
Joseph Palermo: The “conservatives” and “Tea Partiers” are quite convincing at playing the aggrieved victims, but what, exactly, do they have to be “aggrieved” about?
Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.
Robert Reich: President Obama must not be seduced into believing — and must not allow the public to be similarly seduced into thinking — that the well-being of American business is synonymous with the well-being of Americans.
Robert Reich: Isolationism and nationalism are the handmaidens of an economically anxious and frustrated middle class. That was the lesson we learned 80 years ago, but forgot.
Robert Reich: Trade can’t possibly be a source of new American jobs. To the contrary, it reduces overall demand in the United States.
Robert Reich: We’re unlikely to see a repeat of the disastrous Smoot-Hawley tariffs that worsened and lengthened the Great Depression. But you can forget trade-opening agreements. In Toronto last week, the G-20 leaders dropped their 2009 pledge to finish the Doha round this year. In the U.S., agreements with South Korea, Panama, and Columbia are languishing.