Trans-Pacific Partnership and "Fast Track"

Global Governance

[The Battle Over the Trans-Pacific Partnership and "Fast Track" Gets Hot By Dean Baker] "President Obama must be having trouble getting the votes for fast-track authority since the administration is now pulling out all the stops to push the deal. This has included a press call where he apparently got testy over the charge by critics that the Trans-Pacific Partnership (TPP) is a secret trade deal.

Obama insisted the deal is not secret, but googling "TPP" will not get you a copy of the text. Apparently President Obama is using a different definition of "secret" than the ordinary English usage.

But that wasn't the only fun in the last week. The administration got 13 former Democratic governors to sign a letter boasting about the jobs generated by the growth of exports. The letter noted that exports had added "$760 billion to our economy between 2009 and 2014 - one-third of our total growth." It neglected to mention that imports had grown even faster, diverting $890 billion in demand away from the domestic economy to foreign economies.

Contrary to what the governors were claiming in their letter, trade was a net negative to the tune of more than $130 billion over this five year period. Instead of adding jobs, the growing trade deficit was drag on growth, slowing job creation and putting downward pressure on wages. The growth in the trade deficit over this period has the same impact on the economy as if people pulled $130 billion out of their paychecks each year and stuffed it under their mattress.

Secretary of State John Kerry also got into the act with a speech that talked about the importance of the world economy. He told his audience that most of the growth in the future will be outside of the United States and that we will be missing huge markets if we don't have an open economy.

This is true, but it has about as much relevance to the TPP and fast track as an analysis of the Washington Wizards' playoff prospects. The United States already has almost $4 trillion in trade annually (at 23 percent of GDP). This figure has been rising rapidly. It will continue to rise rapidly whether or not Congress approves the TPP. The fact that trade is good has nothing to do with whether Congress should approve the TPP.

This is a lesson that was apparently also lost on Harvard economist Greg Mankiw. In a New York Times column last week Mankiw argued for the congressional approval on fast-track authority based on the claim that all economists agree that free trade is good.

In fact, not all economists agree that all reductions in trade barriers are good. But more importantly, the TPP is not primarily about reducing trade barriers. The TPP is essentially a pact in which the Obama administration invited industry representatives to get together a wish list and see what they could impose on the other parties to the deal.

Since formal trade barriers are already low, very little time was spent on cutting tariffs or ending quotas. Most of the deal is about imposing a business-friendly regulatory structure. The rules in the TPP can be used to challenge any consumer, labor or environmental regulation approved at the state, local or federal level. The enforcement powers will rest with an extra-judicial dispute settlement mechanism that will impose penalties that are not subject to appeal.

On this issue President Obama's assurance that the TPP will not challenge financial regulation or other types of regulation are worthless. He has no idea what sort of people will be appointed to these tribunals in future years. The tribunals are not bound by or even the precedent of rulings from other tribunals. Does President Obama really want us to believe that he knows a President Bush or President Walker won't appoint people who will use the tribunals to undermine environmental and labor regulations?

The absurdity of conflating the TPP with "free trade" is brought out by the fact that its biggest impact may well be from increasing the strength of patent protection, especially in the case of prescription drugs. Patents are government-granted monopolies. They are the opposite of free trade. The TPP will make them stronger and longer raising drug prices. This increase in protectionism is a drag on growth and will slow job creation..." Full text: The Battle Over the Trans-Pacific Partnership and "Fast Track" Gets Hot Re 13:17


One World Government/Religion
Nationalism vs. Globalism/Global Right to Migrate

Obama warns of anti-globalization sentiment in both parties

Extreme secrecy eroding support for Obama's trade pact 

Denmark proposes retailers no longer obligated to accept cash   

Top Dem Warns: Global 'Tribunal' Could Junk U.S. Laws

Gun restrictions?

Microchip implants tracked by GPS 'not far off'  

RePublicans move to rescue Obamatrade 

Response to comment [from a Christian]: "Lowering wages is a large part of the goal. Of course, as with anything wall street wants that's bad for the American people, the republican party is in favor of the TPP. Obama has been bought like the rest of them...."

"So many people think it's a few families that decide everything....We will be on a pathway of destroying capitalism...We must defend capitalism and defend the free market." ~ Laura Ingraham

The Bitter Backdrop to 2016

"...Our only real hope here is that the GOP joins senate democrats and vote against this mess."

Our only hope is Jesus (Rev. 20:1–10).

Senate strikes deal on Obamatrade

Kerry Calls for More Internet Laws; Global System  

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Senate Republicans Give Obama New Powers Details Remain 'Classified'

Boehner Praises 'Classified' Obamatrade

Obamatrade may welcome China to global pact

Obamatrade: Global Access to Citizens' Data

Wikileaks posts largest leak of trade negotiations in history Lk 12:2-3

Deal makes it easier to 'censor and snoop on your communications'

Sessions to Obama: Why Are You Keeping Obamatrade’s New Global Governance Secret?

Sessions to Obama: Why Are You Keeping Obamatrade’s New Global Governance Secret?

Lynch Expands Global Prosecution Powers
...Courts becoming international law-enforcement arenas

World Elite Gather to Plot Future  

Obamatrade: Secret Immigration Powers for President

Ryan Snaps: You'll Read Obamatrade After we Pass It!  

Would Give Immigration Powers To 'Unelected Corporations And Foreign Governments'  

Pope Issues Dire Climate Warning
Calls for New Global Authority
What happens when an entire country becomes infested with demons?  

Three Booted From GOP Whip Team as Leaders Crack Down

Obamatrade resurrected by RePublicans
...Could encompass up to 90% of world GDP
Schlafly: Creates 'global governance superstructure'

Pope urges revolution to save Earth, fix 'perverse' economy   

Vid: 24 Times Hillary Supported TPP as Secretary of State  

RePublican-Led Congress Hands Obama Major Win on Trade  

Response to comment [from a Christian]: ""Gotta pass it to find out what's in it!" Who said that recently? Hint: not Pelosi, this time."


"Give the little lady a cigar. Oh, she has one already."

That would be Demi Moore.

"...Can you believe he actually said it? I can."

"The RePublicans do the same things that the Dumbocrats do. They just do it a little slower." ~ Bob Enyart

Pope wraps Ecuador leg of South America trip after calling for new ecological, economic order

Obama challenges public to read entire trade deal

More workers forced to train foreign replacements  

National Review: ‘Right-Wing’ Site Breitbart Forces Cruz to Reject ‘Obamatrade’

Ohio lost 112,500 jobs to trade with TPP countries  

Transatlantic Trade and Investment Partnership 

Full Text of TPP Finally Revealed   

Emails show TPP ‘collusion’ between big banks & Obama Administration 

Backlash: EU and US in race to salvage TTIP  

Can Moscow save Europe? Beating the TTIP is becoming Russia’s #1 geopolitical task  

Singapore PM: Rejecting TPP Means War, Shifting Alliances in Pacific More Certain  

Obama puts Congress on notice: TPP is coming  

Liberals rally to sink Obamatrade  

White House says it sees a path to approval of TPP  

Leaked Memo: Soros Eyed Stronger Internet Regulation in TPP Negotiations Am 8:5

Soros Foundation Eyed Stronger Internet Regulation in TPP Negotiations Am 8:5


Takeover of Internet, Internet Kill Switch

Obama Trade Rep Says Congress Has Votes To Pass TPP  

Donald Trump: US to quit TPP on first day in office  

Merkel on a collision course with Trump: Angela is 'not happy' over TPP trade deal  

Trans-Pacific Partnership and "Fast Track"