Tapsearch Com EditorGlobalization and Free Trade have directly caused the global economic crisis
February 19th 2009 21:16
Bizarre Politics Reports:
The untold story behind the global economic crisis. It is all about Free Trade.
By Ray Tapajna, editor and artist at Tapsearch Com
When Free Trade acts were passed in the USA, workers who would lose their jobs and/or businesses due to Free Trade were promised help. Those who lost everything have been ignored and will not get anything while financial and investment companies are getting bailed out.
Spinning the news is Global - leads to lack of understanding of causes behind the global economic crisis
In a world of instant communications, there still is a lack of understanding.
We have debated Globalization and Free Trade with others from other lands and it is surprising what their understanding of what the USA has gone through due to Free Trade and Globalization. Now, they are finding out that the American consumer has run out of money to support Free Trade and Globalization. The Trade Deficit has broken records continuously for more than 15 years. This means the USA has bought much more than they have sold in terms of exports and imports. The Trade Deficit represent an extreme lost value not only for Americans but for all in the world. History will show that the USA spent its way to an economic crisis. Up to a year ago, others from other lands, maintained that the USA was too rich and they had to share their wealth with the rest of the world. However, this was not the case as the world is finding out. The whole world is suffering a domino affect. A working poor class in the U.S. has replaced the middle class that was supporting so called Free Trade. In addition, despite what the U.S. reports as their unemployment rate, there is vast hidden underclass living in a silent depression in America.
Free Trade and Globalization are the causes of our current economic crisis.
Tapsearcher response to the post "Winds Of Change":
The current economic crisis was directly caused by Globalization and
Free Trade. There were headlines across the country in the 1990s about
record breaking foreclosures related to bankruptcy. It was all about workers losing their jobs and bankruptcies continously breaking records. The mortgage money games were not exposed until these foreclosures got out of hand.
More than a million workers in the computer industry lost their jobs
during the late 1980s and all of the 1990s.
We witnessed about a 1000 computer dealers and system houses close down
in just three states surrounding us. Our own 1000 customer and prospect
list dwindled to virtually zero, as companies closed down due to
Globalization and Free Trade. We lost our last major company who gave up making industrial computers in the USA.
Ten years ago, there were articles in the newspapers about 47 percent
of all small business owners maxing out their credit cards to keep
their businesses afloat. These are the people who gave it all but lost. Many ended up not only declaring business bankruptcies but personal bankruptcy too because they used their personal credit cards to back up their businesses.
Another article reported that one third of all workers who were 55 or
more years old who lost their jobs, never found another one. A bulletin
in a Church read - success is reaching Social Security age without
having to declare bankruptcy. This was the real world in the USA ten years ago.
There were aslo many of articles about the need for emergency food breaking
all records. The prison population kept breaking records too. Reportedly, the U.S. has the largest prison population in the world in proportion to their population.
In the first wave of assaults by Free Trade competition started in the mid 1980s. More than
400,000 auto workers lost their jobs in the late 1980s and more than
700,000 lost their jobs related to steel production. In the 1990 and 2000s, individual states in the U.S. paid out more than $3 billion dollars to foreign auto assemblers to build their plants in their particular states
By 1992, in the pre NAFTA and GATT days, more than 2000 U.S. factories
were moved to Mexico. Many of these factories were in the Maquiladora factory program that employed impoverished workers to make goods for the American consumers. Many of these factories originally had moved to Asia and then back to Mexico. After NAFTA and Gatt trade agreements were passed in 1993-94, this number of factories moved to Mexico
doubled to more than 4000 factories. This did not stop the flood of Mexican immigrants to the USA seeking economic survival. They would not take the jobs in Mexico that did not pay enough for the sake of survival. As a result, many of these factories moved to Asia.
In the late 1980s and all of the 1990s, the U.S. suffered the most
massive dislocation of jobs in its history. This happened while
President Clinton was proclaiming prosperity. The unemployment rates were and are very questionable. They certainly can not be compared to the past. It is difficult to find out how the rates are counted but the unemployment insurance offices are not used in any count since only about 37 percent of all American workers qualify for unemployment.
There was a stimulus package in 1994-95 but it went to a foreign
country. President Clinton rushed 20 billion dollars to Mexico to save
the peso and the Mexican economy. He sent more money to them through the
international money fund too. The U.S. had to much money invested in all the factories that were moved to Mexico. This should have been a warning sign for the economic crisis that was comming. The economic crisis was forecasted my many experts back then but the U.S. Government had a deaf ear.
Surprisingly , Of all things, a second " stimulus package" came via the Y2k crisis.
Alan Greenspan talks about the billions spent on fixing the problem in his book The Age of Turbulence but does not make the connection on how these billions - if not trillion- of dollars artificially stimulated the American economy.. Billions if not trillions poured into the economy, as governments and companies spent billions to fix the problem.
The Y2k crisis was caused by more than a million workers losing their
jobs in the computer industry in the 1990s. There were not enough workers left in the
industry to support proper systems and housekeeping. Many companies spent
money they did not have on the problem and subsequently, this proved to be fatal more many
businesses.
The Y2k stimulus , also hid the scams of all the Dot Com companies that were enjoying
success by manipulating stock values. However this played out with
the fall of most of these companies which was followed by a stock market crash in
2000.
I have records of the massive job cuts and company closing down in just
1998. The numbers are massive. 250,000 lost their jobs in the high tech
industries alone. We provided a list of the many companies that closed down and jobs that were lost in 1998 alone here at Bizarre Politics and at Tapart News and Art that Talks We also have several computer storage compatibility lists that show hundreds of computer companies that closed down in the USA since 1990.
The unemployment rate in the USA is questionable. Nothing matches up with the realities on the streets of USA. There is no way to compare it with the unemployment reporting from the past. Only 37 percent of all workers in the U.S. qualify for unemployment insurance. They are
able to work at one job long enough or make enough moneyin any given period to qualify.
This means there that more than 60 percent of all American workers are
missing in action or living in some kind of economic limbo. No one talks about the homeless population as being related to the economy and there are reports that many of the working poor are homeless.
Hurricane Katrina in New Orleans exposed a massive underclass living in
a silent depression. They did not have enough money to escape the storm. This underclass is spread across the entire USA with rural poverty hidden from view and the statistics.
A vast working poor class replaced the middle class in the USA. It was
the middle class that was supporting the consumerism -Free Trade and
imports - that was needed for Globalization and Free Trade existence.
Eventually, the working poor found it difficult to afford even the
cheaper imports. This exposed the money products that were not able to keep up with the game any longer.
The U.S government and Free Trader Globalists hid all of these dynamics
by concentrating on making money on money instead of making things. It
was a house of cards and it tumbled. Its impact caused a domino affect
across the globe.
When Free Trade acts were passed in the USA, workers who would lose their jobs and/or businesses due to Free Trade were promised help. Those who lost everything have been ignored and will not get anything while financial and investment companies are getting bailed out.
Spinning the news is Global - leads to lack of understanding of causes behind the global economic crisis
In a world of instant communications, there still is a lack of understanding.
We have debated Globalization and Free Trade with others from other lands and it is surprising what their understanding of what the USA has gone through due to Free Trade and Globalization. Now, they are finding out that the American consumer has run out of money to support Free Trade and Globalization. The Trade Deficit has broken records continuously for more than 15 years. This means the USA has bought much more than they have sold in terms of exports and imports. The Trade Deficit represent an extreme lost value not only for Americans but for all in the world. History will show that the USA spent its way to an economic crisis. Up to a year ago, others from other lands, maintained that the USA was too rich and they had to share their wealth with the rest of the world. However, this was not the case as the world is finding out. The whole world is suffering a domino affect. A working poor class in the U.S. has replaced the middle class that was supporting so called Free Trade. In addition, despite what the U.S. reports as their unemployment rate, there is vast hidden underclass living in a silent depression in America.
Free Trade and Globalization are the causes of our current economic crisis.
Tapsearcher response to the post "Winds Of Change":
The current economic crisis was directly caused by Globalization and
Free Trade. There were headlines across the country in the 1990s about
record breaking foreclosures related to bankruptcy. It was all about workers losing their jobs and bankruptcies continously breaking records. The mortgage money games were not exposed until these foreclosures got out of hand.
More than a million workers in the computer industry lost their jobs
during the late 1980s and all of the 1990s.
We witnessed about a 1000 computer dealers and system houses close down
in just three states surrounding us. Our own 1000 customer and prospect
list dwindled to virtually zero, as companies closed down due to
Globalization and Free Trade. We lost our last major company who gave up making industrial computers in the USA.
Ten years ago, there were articles in the newspapers about 47 percent
of all small business owners maxing out their credit cards to keep
their businesses afloat. These are the people who gave it all but lost. Many ended up not only declaring business bankruptcies but personal bankruptcy too because they used their personal credit cards to back up their businesses.
Another article reported that one third of all workers who were 55 or
more years old who lost their jobs, never found another one. A bulletin
in a Church read - success is reaching Social Security age without
having to declare bankruptcy. This was the real world in the USA ten years ago.
There were aslo many of articles about the need for emergency food breaking
all records. The prison population kept breaking records too. Reportedly, the U.S. has the largest prison population in the world in proportion to their population.
In the first wave of assaults by Free Trade competition started in the mid 1980s. More than
400,000 auto workers lost their jobs in the late 1980s and more than
700,000 lost their jobs related to steel production. In the 1990 and 2000s, individual states in the U.S. paid out more than $3 billion dollars to foreign auto assemblers to build their plants in their particular states
By 1992, in the pre NAFTA and GATT days, more than 2000 U.S. factories
were moved to Mexico. Many of these factories were in the Maquiladora factory program that employed impoverished workers to make goods for the American consumers. Many of these factories originally had moved to Asia and then back to Mexico. After NAFTA and Gatt trade agreements were passed in 1993-94, this number of factories moved to Mexico
doubled to more than 4000 factories. This did not stop the flood of Mexican immigrants to the USA seeking economic survival. They would not take the jobs in Mexico that did not pay enough for the sake of survival. As a result, many of these factories moved to Asia.
In the late 1980s and all of the 1990s, the U.S. suffered the most
massive dislocation of jobs in its history. This happened while
President Clinton was proclaiming prosperity. The unemployment rates were and are very questionable. They certainly can not be compared to the past. It is difficult to find out how the rates are counted but the unemployment insurance offices are not used in any count since only about 37 percent of all American workers qualify for unemployment.
There was a stimulus package in 1994-95 but it went to a foreign
country. President Clinton rushed 20 billion dollars to Mexico to save
the peso and the Mexican economy. He sent more money to them through the
international money fund too. The U.S. had to much money invested in all the factories that were moved to Mexico. This should have been a warning sign for the economic crisis that was comming. The economic crisis was forecasted my many experts back then but the U.S. Government had a deaf ear.
Surprisingly , Of all things, a second " stimulus package" came via the Y2k crisis.
Alan Greenspan talks about the billions spent on fixing the problem in his book The Age of Turbulence but does not make the connection on how these billions - if not trillion- of dollars artificially stimulated the American economy.. Billions if not trillions poured into the economy, as governments and companies spent billions to fix the problem.
The Y2k crisis was caused by more than a million workers losing their
jobs in the computer industry in the 1990s. There were not enough workers left in the
industry to support proper systems and housekeeping. Many companies spent
money they did not have on the problem and subsequently, this proved to be fatal more many
businesses.
The Y2k stimulus , also hid the scams of all the Dot Com companies that were enjoying
success by manipulating stock values. However this played out with
the fall of most of these companies which was followed by a stock market crash in
2000.
I have records of the massive job cuts and company closing down in just
1998. The numbers are massive. 250,000 lost their jobs in the high tech
industries alone. We provided a list of the many companies that closed down and jobs that were lost in 1998 alone here at Bizarre Politics and at Tapart News and Art that Talks We also have several computer storage compatibility lists that show hundreds of computer companies that closed down in the USA since 1990.
The unemployment rate in the USA is questionable. Nothing matches up with the realities on the streets of USA. There is no way to compare it with the unemployment reporting from the past. Only 37 percent of all workers in the U.S. qualify for unemployment insurance. They are
able to work at one job long enough or make enough moneyin any given period to qualify.
This means there that more than 60 percent of all American workers are
missing in action or living in some kind of economic limbo. No one talks about the homeless population as being related to the economy and there are reports that many of the working poor are homeless.
Hurricane Katrina in New Orleans exposed a massive underclass living in
a silent depression. They did not have enough money to escape the storm. This underclass is spread across the entire USA with rural poverty hidden from view and the statistics.
A vast working poor class replaced the middle class in the USA. It was
the middle class that was supporting the consumerism -Free Trade and
imports - that was needed for Globalization and Free Trade existence.
Eventually, the working poor found it difficult to afford even the
cheaper imports. This exposed the money products that were not able to keep up with the game any longer.
The U.S government and Free Trader Globalists hid all of these dynamics
by concentrating on making money on money instead of making things. It
was a house of cards and it tumbled. Its impact caused a domino affect
across the globe.
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