Obama Is Unlikely To Keep His Campaign Promise To Renegotiate NAFTA
Wednesday, 5. November 2008, 09:21:49
The establishment had stunning success in pushing through free trade
The prior establishment government, that is the neocon led government, together with the democrats in Congress, have "sold off" and "sold out" the US to the point where it is now a deindustrialized wasteland.
The bankers led by Trilateral Godfather David Rockefeller have had eight years of stunning success in implementing free trade under Bush via passage of NAFTA and CAFTA.
And the media has been fully supportive of the Trilateral Commission. The bankers hate a constitutional government, they want an oligarchy of elite ruling, so the best way to implement their governance has been an ongoing policy of reducing barriers to trade and transferring factories and technology to the emerging markets.
General Motors, GM, and Ford build more than half of their cars overseas, soon General Motors will be building no cars here or anywhere as it and Ford are both "walking dead" corporations. World Socialist Website author Jerry White reports zombification by debt: "One or more of Detroit’s Big Three automakers are not expected to survive the crisis. Last week, rating agency Moody’s downgraded Chrysler and GM debt for the second time in three months, as well as the debt of Ford’s lending arm, citing “the pace and severity of erosion in the U.S. automotive sector” and suggesting the companies might have difficulty remaining solvent through 2009." With the result that: "Entire cities, such as Detroit, Flint and Dayton, Ohio, have been ravaged by plant closings and mass layoffs.
The downturn has spread throughout the economy. On Tuesday, lumber and building material supplier Louisiana-Pacific, LPX, reported wider third-quarter losses, as the slumping housing market has undercut revenue. The Nashville, Tennessee-based company has closed sawmills, reduced production at other facilities and slashed hundreds of jobs. For the fourth quarter, the company anticipates that most of its mills will be down for more time than they will operate. Chief Executive Richard Frost said, “The declining activity in the housing market, in both new construction and repair and remodeling, caused lower demand for our products at very challenging price levels. Business fell off even harder in September and remains basically paralyzed as a result of the banking and financial market crisis.”
Computer maker Dell, DELL, which is now completing plans announced last year to cut 8,900 jobs or 10 percent of its workforce—announced Tuesday that it will outline a new series of cost-cutting measures. These will include a hiring freeze and offers of voluntary severance packages, as well as one to five days’ compulsory vacation without pay, according to a Wall Street Journal report."
Obama promised to renegotiate NAFTA
During his campaign Obama criticized the North American Free Trade Agreement, NAFTA, blaming it for the loss of jobs in the United States and was quoted by CNNMoney.com as promising to "Work to renegotiate NAFTA, the free trade agreement with Canada and Mexico." But he sent a senior member of his campaign team to Canada to tell officials there not to take his criticisms seriously as reported in CTV.ca News Staff in article Obama Staffer Gave Warning Of NAFTA Rhetoric.
The supply chain needs to be shortened, must be shortened and will be shortened as free trade will become obsolete by a world wide financial collapse
I believe that the US Dollar, will now fall lower into The Abyss, will all fiat wealth; that is with all currencies, DBV, debt, AGG, foreign stocks, EFA, and US stocks, VTI, and that gold will arise as the means of preserving wealth as well as become the defacto international currency; this being communicated in the chart of UUP, DBV, AGG, EFA, VTI and GLD ... UUP, DBV, AGG, EFA, VTI and GLD
While the US has recently lowered it's central bank interest rate to 1%, the bond market place has been calling interest rates higher since a credit gridlock developed 9-11-2008, as is seen in the interest rate on the 10 year US government note going higher to today's 37.65 ... $TNX
The chart of the yield curve interest rates steepened dramatically today, $TNX:$UST2Y, popped, this is highly inflationary. Richard the Resourceful Bear says: "Rising interest rates, and a steeping yield curve, are a bond killer and a gold thriller." ... $TNX:$UST2Y
The chart of the US government bond ETF, TLT, courtesy of Jack Chan from JC's Buy and Sell Signals shows consolidation; and I believe it shows that a run on US government bonds is underway ... TLT
And the supply chain will be cut from the source, that is, at the manufacturing level as US Treasuries loose their value.
The real breakdown in the supply chain, and the re-direction of the supply chain to the North American Continent, will come from the occurance of a systemic risk event, that is, an investment and economic collapse.
The breakdown is coming soon, and when it does occur, the civil security and emergency management provisions of the Security and Prosperity Partnership, the SPP, will be enforced.
The North American Competitiveness Council, the NACC, through working groups, and appointed stakeholders will oversee the factors of production, and the institutions of finance, commerce, trade and investment. The supply chain for critical homeland security needs will be rerouted to select North American Continent sites.
The supply chain for non critical supplies will simply shrivel up and consumer spending and retail buying will evaporate like water in the desert: there will be very little imported from foreign countries, and thus no need to renegotiate NAFTA.
The prior establishment government, that is the neocon led government, together with the democrats in Congress, have "sold off" and "sold out" the US to the point where it is now a deindustrialized wasteland.
The bankers led by Trilateral Godfather David Rockefeller have had eight years of stunning success in implementing free trade under Bush via passage of NAFTA and CAFTA.
And the media has been fully supportive of the Trilateral Commission. The bankers hate a constitutional government, they want an oligarchy of elite ruling, so the best way to implement their governance has been an ongoing policy of reducing barriers to trade and transferring factories and technology to the emerging markets.
General Motors, GM, and Ford build more than half of their cars overseas, soon General Motors will be building no cars here or anywhere as it and Ford are both "walking dead" corporations. World Socialist Website author Jerry White reports zombification by debt: "One or more of Detroit’s Big Three automakers are not expected to survive the crisis. Last week, rating agency Moody’s downgraded Chrysler and GM debt for the second time in three months, as well as the debt of Ford’s lending arm, citing “the pace and severity of erosion in the U.S. automotive sector” and suggesting the companies might have difficulty remaining solvent through 2009." With the result that: "Entire cities, such as Detroit, Flint and Dayton, Ohio, have been ravaged by plant closings and mass layoffs.
The downturn has spread throughout the economy. On Tuesday, lumber and building material supplier Louisiana-Pacific, LPX, reported wider third-quarter losses, as the slumping housing market has undercut revenue. The Nashville, Tennessee-based company has closed sawmills, reduced production at other facilities and slashed hundreds of jobs. For the fourth quarter, the company anticipates that most of its mills will be down for more time than they will operate. Chief Executive Richard Frost said, “The declining activity in the housing market, in both new construction and repair and remodeling, caused lower demand for our products at very challenging price levels. Business fell off even harder in September and remains basically paralyzed as a result of the banking and financial market crisis.”
Computer maker Dell, DELL, which is now completing plans announced last year to cut 8,900 jobs or 10 percent of its workforce—announced Tuesday that it will outline a new series of cost-cutting measures. These will include a hiring freeze and offers of voluntary severance packages, as well as one to five days’ compulsory vacation without pay, according to a Wall Street Journal report."
Obama promised to renegotiate NAFTA
During his campaign Obama criticized the North American Free Trade Agreement, NAFTA, blaming it for the loss of jobs in the United States and was quoted by CNNMoney.com as promising to "Work to renegotiate NAFTA, the free trade agreement with Canada and Mexico." But he sent a senior member of his campaign team to Canada to tell officials there not to take his criticisms seriously as reported in CTV.ca News Staff in article Obama Staffer Gave Warning Of NAFTA Rhetoric.
The supply chain needs to be shortened, must be shortened and will be shortened as free trade will become obsolete by a world wide financial collapse
I believe that the US Dollar, will now fall lower into The Abyss, will all fiat wealth; that is with all currencies, DBV, debt, AGG, foreign stocks, EFA, and US stocks, VTI, and that gold will arise as the means of preserving wealth as well as become the defacto international currency; this being communicated in the chart of UUP, DBV, AGG, EFA, VTI and GLD ... UUP, DBV, AGG, EFA, VTI and GLD
While the US has recently lowered it's central bank interest rate to 1%, the bond market place has been calling interest rates higher since a credit gridlock developed 9-11-2008, as is seen in the interest rate on the 10 year US government note going higher to today's 37.65 ... $TNX
The chart of the yield curve interest rates steepened dramatically today, $TNX:$UST2Y, popped, this is highly inflationary. Richard the Resourceful Bear says: "Rising interest rates, and a steeping yield curve, are a bond killer and a gold thriller." ... $TNX:$UST2Y
The chart of the US government bond ETF, TLT, courtesy of Jack Chan from JC's Buy and Sell Signals shows consolidation; and I believe it shows that a run on US government bonds is underway ... TLT
And the supply chain will be cut from the source, that is, at the manufacturing level as US Treasuries loose their value.
The real breakdown in the supply chain, and the re-direction of the supply chain to the North American Continent, will come from the occurance of a systemic risk event, that is, an investment and economic collapse.
The breakdown is coming soon, and when it does occur, the civil security and emergency management provisions of the Security and Prosperity Partnership, the SPP, will be enforced.
The North American Competitiveness Council, the NACC, through working groups, and appointed stakeholders will oversee the factors of production, and the institutions of finance, commerce, trade and investment. The supply chain for critical homeland security needs will be rerouted to select North American Continent sites.
The supply chain for non critical supplies will simply shrivel up and consumer spending and retail buying will evaporate like water in the desert: there will be very little imported from foreign countries, and thus no need to renegotiate NAFTA.
WIDGETIZE