Thursday, September 30, 2010

Apres la Lettre, U.S. Congress Declares War on Physiocrats

"First comes eating and then comes morality."
--------Bertolt Brecht

After 40 years of enabling corporatist lust for cheap
labor the US Congress has now, sated and fat, facing
an eviscerated middle class, pointed an indignant finger
at China as the "Enemy". This big lie is disproved by the
simple fact that much of the goods imported into the US
from Chinese Cargo ships are filled with goods financed by
US Corporations subletting industry in China. Over 60%
of the goods are licensed and branded by US co's like
Apple, Microsoft and various textiles. US Corporations
and Wall Street financiers are profiting immensely from
our trade imbalance with China.

To blame China for currency manipulation and imply it
marks the sole reason for the trade imbalance is Herostratean
sophistry. First of all the US itself is busy manipulating its own
currency via Quantitative Easing and artificially low interest
rates. Secondly, as noted above, the trade imbalance enriches
US corporations, hedge funds and the financiers who have lobbied
Congress fiercely and successfully to destroy industry in the
United States.

NAFTA, GATT and other Globalist measures have not created
freer trade. Instead they have systematically destroyed the value
of labor around the world while benefiting financiers. If the US
Congress was serious it would undermine Global Labor arbitrage,
penalize US Corporations exploiting labor in under-regulated
foreign labor markets and increase the wages of US workers.
This would create the inflation they so dearly claim to desire. Their
actions, sadly, lead to destabilization and a further lessening of
labor value. Trade and currency wars are a globalist form of
austerity and, throughout history, invariably lead to real wars.

Those poor Physiocrats who advocated free and fair trade are
now witnessing their ideals trashed by the fraud, cronyism and
class warfare, rentiers against labor, of Globalism's disingenuous
adherence to "Free Trade". Hysterically the Globalists contort
themselves into a farcical crusade for "Fair Trade".

Americans should see this as a comical attempt to displace blame
for disastrous economic policies endorsed and practiced by the
Oligarchs over the past four decades. They're making out quite
well with trade deficits to China. Corporate profits are robust. The
people are tired of being squeezed and Congress(and their plutocratic
backers) knows it. So they scapegoat China and make "free trade" a

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