The Panama FTA is one of three trade agreements up for debate and passage later this month. The agreement is supported by the business community and opposed by the AFL-CIO, and will be scored by unions. The Panama government itself wants this agreement desperately, and has complained about all of its lobbying spending in DC ($6.2 million).
Panama is too small as an economy to really impact jobs in the United States, the real value of the FTA is strategic and has to do with American geopolitical aims. For the business community, Panama is a great place to hide their money.
Panama is the second largest tax haven in the world, according to a secret State Department memo released by Wikileaks.
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This week, I’ll be covering the free trade agreements pushed by the politicians..
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The key question we have to face as a country is how we want to govern ourselves. From World War II until NAFTA, our trading policies were based on geopolitical needs and what would increase prosperity for America. Since NAFTA, however, the mantra of free trade has been warped to generate rights for international capital and nothing else. The agreements Congress and the President are pushing continue this unfortunate trend. What unfettered capital wants is to avoid taxes, regulations, or any state power whatsoever. And that’s what this Panama deal is really about.
http://www.dylanratigan.com/2011/07/19/trading-our-future-tax-cheating-and-the-panama-free-trade-agreement/
Ratigan has a show on MSNBC. It's such a pleasure to watch, it's so rare to hear the truth on teevee. On today's show, Ratigan and the panel discussed "free trade." It was one truth bomb after another, starting with how Obama is pushing all these free trade deals that during the campaign he promised to block. I forget the details, but according to one of the guests on the show the Obama campaign has been bought off by business interests.
It was all very informative, I didn't know it but our first free trade deal was with Israel. Every free trade deal since then, including NAFTA, has cost us jobs. Now Obama and Repubs are pushing three more NAFTA-style deals: Panama, Colombia, and South Korea.
I know I'm beating a dead horse on this issue, but as the country goes to hell in a handbasket some people might at least like to know why. It's not all about peak oil.. globalism and offshoring and too much immigration are to blame for the terminal jobs crisis, the broken middle class, wages that haven't risen in many years, and next up is gutting of Social Security and Medicare.
I've posted this graph before but it's worth repeating:
There will never be Change You Can Believe In. Ratigan is awesome for asking the questions nobody else will, but the Establishment is firmly globalist and will never pull back. And so that's why jobs will continue to bleed away, that's why tax revenues will continue to fall, that's why we're going bankrupt and the US will eventually collapse into devaluations and hyperinflation just as every other nation does after too many years of trade deficits.
EDIT:
Video of Ratigan's "Trading Our Future" special:
http://www.dylanratigan.com/2011/07/20/trading-our-future/