Just like NAFTA, just like China's entry into the World Trade Organization (WTO), free traders swore that the Korean deal would shower jobs and economic prosperity down on America. It didn't happen. Actually, the exact opposite did.
The Economic Policy Institute found that currency manipulation is the most important cause of America's massive trade deficits with TPP countries. Trade deficits mean products are shipped to the United States rather than made in the United States. The math is simple.
Smisek's failed leadership at United Airlines illustrates exactly how this CEO self-dealing scheme works to the advantage of wealthy executives and shareholders while damaging workers, communities, customers and corporations.
Instead of picnicking, Steelworkers in six states will spend this Labor Day picketing the gates of a dozen Allegheny Technologies Inc. (ATI) specialty mills. These 2,200 Steelworkers are not on strike. They never even took a strike vote to threaten a walkout. ATI locked them out of their jobs.
Don't look now, but we should soon have the 30-hour work week as the standard, instead of the 40-hour work week last enshrined during FDR's New Deal. Why, when Americans now work more hours than any other developed country?
"Raising the minimum wage is one simple and long-overdue step toward rebalancing the social contract so that the private and public sectors are more equal participants in improving living standards for American workers."
The death of the American steel industry is fine with the likes of the Wall Street Journal, Forbes and the Cato Institute. They say Americans should thank foreign states that violate international trade laws by subsidizing their steel industries.
Without significant changes, TPP will just be another American factory shuttering, dream shattering trade deal. Of course, the corporations that stand to profit support the current TPP scheme, as they did the other job-destroying trade deals. And so do corporate politicians.
The rich snicker as the vast majority of Americans are so distracted they don't focus on record corporate profits, on record low corporate tax payments or on lobbyists buying tax breaks for corporations and loopholes for offshore accounts.
Yet another report is out showing how the trade deficit is costing us millions of jobs and hurting our economy. This is a real problem that is hurting people, hurting communities, hurting our tax base and hurting our ability to make a living in the future.
We can no longer tolerate such a diversion of wealth that has weakened our economic and social fabric so much that we have fallen behind the rest of the developed world in education, health care, aging infrastructure, and even environmental protection.
At a time of dwindling union membership, at a time when labor union participation is so small as to be nearly negligible, state legislatures across the country are taking up right-to-work (for less) laws that will further decimate union ranks.