Stock Trading and Other Things

Will Senator Obama's opposition to free trade plunge the world into a Great Depression?

http://afp.google.com/article/ALeqM5ggHxjYOjEMGJcNQGflXNdwx4Sckw
AFP
Miliband to urge US to stand firm on free trade: report
3 days ago
LONDON (AFP) — {British Labour} Foreign Secretary David Miliband
"American internationalism has been a feature of all periods of global progress," he told the business daily before heading to the United States where he will meet advisers to Hillary Clinton and Barack Obama, among others.
"It's absolutely clear that the world needs an America that's engaged with the global trading system in a very fundamental, very committed way. The problem is not too much trade, the problem is too little trade.
"That is our position as a British government, and it will be articulated clearly and consistently."
NAFTA, created under Bill Clinton in 1994, created the largest trading bloc in the world by eliminating import tariffs on goods circulating among partners Canada, the United States and Mexico.
The foreign secretary's stance comes after criticisms from Canada and the EU's trade commissioner Peter Mandelson, who attacked US presidential hopefuls -- but not by name -- for appearing to want to disengage from globalisation.



"It's a mirage and they know it and it's very irresponsible, in my view, to pretend to people that we can disengage from international trade, we can create barriers around our economy and be surprised when people retaliate by doing the same," he told BBC television earlier this month.



"Where's that going to lead us? It's going to lead us into a vicious spiral of 'beggar thy neighbour' policies which will take us decades back in terms of trade growth and rising living standards that we've seen in the world."

Public Comments

1. Believe me, after Bush, there's only one way to go: up.

2. The world? I think not. The U.S. is losing its footing as a major player in the financial world.

3. Free Trade is anti-union. Therefore Un-American.

4. Free Trade is what WILL plunge the US into its next depression.
70% service economy, doesn't make for a real stable economy.

the lesson all people should learn from NAFTA is, you can't turn a communist nation into a capitalist one by free-trade. All they do is suck all your companies out of your country lured by cheap labor, resulting in what happens when communisim meets capitalism = fascism. If it is stopped soon, it won't be able to be stopped.

5. This question isn't really worth answering. NAFTA was a big mistake; however, it had good intentions but backfired miserably. An ideal trade system would allow Americans overseas and foreign companies here, but they don't want to come here, but our businesses want to go there.

Many overseas companies we do business with use forced labor, sweatshops, etc. to produce their products at cheaper prices. We, as Americans, shouldn't support these companies, nor should we buy their products. If companies want to do business in the US, where the consumer money of the world is, then they need to do business by our rules whether they are foreign or domestic companies.

The reason so many companies leave America is because there are no restrictions on them doing business here from foreign soil, so the foreign nations laws attract their greed.

Obama proposes to offer tax incentives for companies who keep their base of operations and manufacturing facilities in America and is proposing legislation that will disenfranchise businesses who procure goods through means inconsistent with American values.

You have to look at the overall picture.

6. baby, were already heading there. You know two major American trucking companies have went under. Roadway is not paying non-union workers health benefits anymore, or even retirement benefits for non-union workers. Just wait and see when Airline companies are going to go under one after another, retail stores are going to close, and you arnt going to afford buying bread. Soon.

7. No. Free trade is a one way ticket to globalization. Democrats believe in fair trade, which is exactly what the name implies.

8. thats been done...the game now is fix it.
British bankers, and the Fed. as well as world bank and IMF are driving the bus....we are only along for the ride and the view....and that's not looking good ...the Fed is a private for profit corporation as Hamilton envisioned and Jefferson opposed,....."If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies."
"We are completely saddled and bridled, and the bank is so firmly mounted on us that we must go where they ill guide.
The dominion which the banking institutions have obtained over the minds of our citizens...must be broken, or it will break us." Thomas Jefferson

9. No. There will be no "Great Depression", but there will be a shift in world financial control.

Corporations working out of America, with financial ties to China, North Korea, Saudi Arabia, India, Venezuela, Mexico, and other foreign countries have determined that America will no longer be an "economic" force in the world.

The United States has become a political and financial "eunuch".