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By Michael | The Economic Collapse
Either way this election turns out, American jobs are going to continue to get slaughtered by the millions. During this campaign, Mitt Romney and Barack Obama have both attempted to portray each other as the “outsourcer in chief“.
Unfortunately, they are both right. Barack Obama and Mitt Romney have both participated in the outsourcing of American jobs, and both are openly admitting to the American people that they favor the emerging one world economic system which will continue to destroy millions of American jobs.
In fact, they argue with each other about which of them will be more aggressive in pursuing more “free trade” agreements over the next four years. Unfortunately, the “free trade” agreements that the U.S. government enters into are never “fair trade” agreements.
As a result, over the past decade we have lost tens of thousands of businesses, millions of jobs and trillions of dollars of national wealth. This year alone, we will buy about half a trillion dollars more stuff from the rest of the world than they will buy from us.
This trade deficit will be about 7 times larger than the trade deficit of any other nation on earth. Our economy will continue to bleed jobs at a horrifying pace, but Obama and Romney insist that the answer to our problems is even more “free trade”. What makes all of this even more dreadful is that most Americans continue to fall for this nonsense.
It doesn’t take a genius to figure out that merging our labor pool with the labor pools of nations where it is legal to pay slave labor wages was going to kill American jobs and drive down wages for the jobs that remain in the United States.
Why should some giant predator corporation pay you 15 dollars an hour plus benefits when they can pay a worker on the other side of the planet a dollar an hour with no benefits to do the same job?
During the second presidential debate, when Obama was asked why high tech products such as the iPhone could not be made here in the United States, Obama openly admitted that there are some jobs that aren’t ever going to come back.
But why does that have to be so?
Why can’t those jobs come back to America?
It seems to me that if you cracked down on nations that are cheating such as China, imposed a system of common sense tariffs and cut the corporate tax rate to a level more consistent with the rest of the world that you could get a lot of those jobs flooding back in by the end of next year.
But Obama is so blinded by his faith in the emerging one world economy that such measures are unimaginable to him.
In recent years, the Obama administration has entered into new “free trade” agreements with Panama, South Korea and Colombia. In addition, the Obama administration is making the Trans-Pacific Partnership (“the NAFTA of the Pacific“) a very high priority.
Considering what a nightmare the first NAFTA was, do we really need another one?
The Trans-Pacific Partnership is a treaty that would essentially ban all “Buy American” laws. It is being touted as one of the most comprehensive “free trade” agreements in history, and it would open up the door for millions more good jobs to be shipped out of the country.
The workers of America simply cannot afford another four years of Barack Obama.
In fact, the Obama administration has actually spent billions of taxpayer dollars to create jobs in other countries. The following is from a pro-Republican website…
Over his four years in office, Obama promised that he would focus on creating “jobs that pay well and can’t be outsourced.” However, as he racked up trillions in new debt, billions of dollars did go to create jobs that were outsourced or spent overseas. Whether it is electric cars made in Finland or solar panels in Mexico, taxpayers would be astonished to learn that their hard earned money went abroad for jobs that weren’t created in the United States.
You can get all the details right here. Needless to say, the Obama administration has been an absolute disaster on these issues.
So would Romney be an improvement when it comes to trade?
That is very doubtful.
The truth is that Mitt Romney was involved in outsourcing jobs while he was at Bain Capital. The following is from a recent article posted on Forbes.com…
David Corn of Mother Jones reports that “according to government documents . . . Romney, when he was in charge of Bain [Capital], invested heavily in a Chinese manufacturing company that depended on US outsourcing for its profits—and that explicitly stated that such outsourcing was crucial to its success.”
This didn’t happen after 1999, when Mitt Romney says he left Bain Capital to run the Salt Lake City Olympics (Corn was one of the first reporters to raise questions, now gaining wide exposure, of whether Romney really left Bain then), but the year before. On April 17, 1998, Brookside Capital Partners Fund, a Bain Capital affiliate of which Romney was the sole shareholder, sole director, president, and chief executive, invested an estimated $14.2 million in Global-Tech, an appliance maker in Dongguan, China. Global-Tech made products for American companies like Sunbeam, Hamilton Beach, Mr. Coffee, and Proctor-Silex. In September 1998 Global-Tech’s CEO announced that the company was postponing a factory expansion because Sunbeam was slowing its rate of outsourcing, and said, “Although it appears that customers such as Sunbeam are not outsourcing their manufacturing as quickly as we had anticipated, we still believe that the long-term trend toward outsourcing will continue.”
Since Romney left, Bain Capital has become even more aggressive with outsourcing jobs. In fact, Bain Capital has been forcing American workers to train their Chinese replacements even in the midst of this campaign. Aren’t they concerned that they are making their former boss look bad? The following is from an article written by an American worker that is having his job shipped to China by Bain Capital…
On Monday, November 5th Bain Capital is outsourcing my job to China. On Tuesday, November 6th I’m casting my vote against Mitt Romney.
Yes, I blame Mitt Romney for the loss of my job. Here’s why.
I’ve worked at the same factory in Freeport, Ill. for thirty-three years, making sensors and controls for the auto industry. It’s tough work, but it pays a living wage with health benefits that folks can count on, and it fuels our town’s economy and tax base.
That’s been changing since Bain Capital came to town. Two years ago, our factory was sold to Sensata Technologies, a company created by Bain Capital, and they told us that by December 2012, all 170 of our jobs would be shipped to China. They even made us train our Chinese replacements.
Layoff notices have been sent out, and some folks have already been laid off. Where there was once lots of people and energy and life, now there’s only the discoloration on the floor where the machinery used to be. It’s depressing. They’re not just dismantling the equipment and the plant; they’re dismantling our community.
All of this outsourcing is killing America.
Back in 1950, the population of this country was less than half of what it is now, and yet there were more Americans working in manufacturing back in 1950 than there are today.
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