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Discussion Starter #1 (Edited)
Interesting to look back at some footage and hear Ross Perot predict exactly what would happen if free trade deals with developing countries were implemented.

http://www.youtube.com/watch?v=Rkgx1C_S6ls

In 1985 the US had a trade imbalance with China of 6 Million dollars for the whole year. In August of 2010 the trade imbalance was 28 Billion dollars for the one month.

As Mr. Perot correctly observed, trade imbalances would continue until equilibrium was achieved. That is when the foreign countries raised their wages to 6 dollars per hour and the US wages fell to 6 dollars an hour. Then the playing field would be level.

It is estimated that 42,000 factories have left the US or closed down. Countless small business have been forced to close. And it isn't just the unskilled who have suffered job losses. Millions of IT workers have seen their work transferred overseas to Mumbai or other places. In some hospitals there is no need for Radiologists anymore. The technology is available to send xrays to India and have them diagnosed there in real time. Teachers are in danger of being replaced by software designers in China and India, as online education becomes more accepted and popular.

There are 8 million unemployed in the US. One in five Americans is either unemployed or working part time hours. There are 43 Million Americans on food stamps. Millions are losing all unemployment benefits each month, while those working are afraid to ask for a raise.

If the west continues to along the path of these kinds of free trade deals, at the bequest of multi-national corporations, then small business will continue to decline, high unemployment will remain high, and wages will stagnate.

Ross Perot was so right..............to bad he was ignored.

Until we see action from our politicians, and I am thinking tearing up free trade agreements and implementing tarifs on goods, our economy which is so closely tied to the US is in grave danger.
 

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The biggest danger in the US is the decline of their education system and their schools. They are in desperate need of rebuilding America starting with their schools and focusing on education to get them ahead in the future creating jobs and so on. Of course instead they waste countless dollars bailing out banks and doing very little to help America move forward.

On free trade I think there should be standards met that countries have to achieve in order to trade freely. In some countries I suppose the bar can be set low, but then they have to progress upward to higher and higher standards until they reach the standard.
 

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The biggest danger in the US is the decline of their education system and their schools. They are in desperate need of rebuilding America starting with their schools and focusing on education to get them ahead in the future creating jobs and so on. Of course instead they waste countless dollars bailing out banks and doing very little to help America move forward.
That is an excellent point.
Their social system is falling apart, esp. K-12 education.
 

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US is a corporate empire and the corporations would never agree to protection against countries using near-slave labor (like China). Most likely, US labor will become (much) cheaper over time.
That's why is not a good idea to actually work. It's much better to just accumulate and deploy capital (i.e. indirectly exploiting cheap labor).
 

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That's why is not a good idea to actually work. It's much better to just accumulate and deploy capital (i.e. indirectly exploiting cheap labor).
Aha, but the million dollar question is how do you accumulate in the first place.
Kind of like Marx's theory of primitive accumulation.
You read the 4 volumes of Das Kapital and say yeah, this makes sense, I could agree with this...but wait, how did they get the capital in the first place

Oh page 473 of 475 in Volume 4 of 4 explains that...it's called primitive accumulation.
 

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Aha, but the million dollar question is how do you accumulate in the first place.
option 1 (the easiest one): inherit it.
option 2: be a wage slave and invest your wage in the stock/bond/commodities markets until you have accumulated enough to be able to actually stop being a wage slave. In this phase, don't buy the crap that corporations push (otherwise you may remain a wage slave for most of your life).
option 3 (the hardest): try to open your own company and have other people directly working for you. However this is the more riskier option, as most likely you'll have to compete against the big sharks - the big corporations.
I think most people in this forum are of type (2).
 
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