Posted on 06/28/2015 12:24:57 PM PDT by Lorianne
The Trans Pacific Partnership, or Obamatrade as it's known to opponents, might be bad news for America's beleaguered manufacturing workers.
It's hard to come to any other conclusion after reading a recent working paper from the FEDERAL RESERVE that studied the effects of liberalizing trade with China in the past decade. The authors conclude that the U.S. lost 1 million factory jobs in just eight years through 2007.
The Trans Pacific Partnership could mean more of the same. By far the likeliest outcome will be "another trade-related disaster for U.S. domestic manufacturing," says Alan Tonelson, an international trade and manufacturing expert with more than three decades in the field.
(Excerpt) Read more at thestreet.com ...
Isn’t re-training for laid off American workers part of this bill? What will be left to do?
That is assuming there are 1 million jobs left here now.
even the Federal Reserve’s own analysts believe that we will likely lose many manufacturing jobs as a result of the TPP.
Probably true but at least they will be able to print even more worthless currency so I guess the bureau of engraving and printing will be hiring.
What I heard is that many generic drugs might no longer be available. The bill prevents us from access and we get to pay more for prescriptions.
Nice.
Great, we are really cooking now...
The Vietnamese are looking forward to TPP:
More firms are likely head here after the passage of the TPP, they said, because it will reduce tariffs on Vietnamese exports to the US to near zero.
US firms move footwear factories to Vietnam ahead of TPP
Many of those US footwear firms are probably moving from China to Vietnam for even cheaper labor, but no doubt many US firms still located in the US will take advantage of this even greater incentive to move to TPP nations in Asia.
“What will be left to do?”
A while back there was a lot of money spent to train laid off people for “green” jobs. The problem is, there are no green jobs. I expect more of the same, fantasy greenness.
Ah,but your missing the point
New Nike Jordan’s cost $15
Retail $300
Savings passed on to the consumer,wait,what?
Can’t be, all the Free trade advocates tell me that it creates more jobs than it destroys...
It does,they just don’t say in which countries :)
BUZZZZZZ..... a little late for that glaring noisy concept..
It should be called GOP Trade, as the RINO’s and fake conservatives
are the ones who carried the water on this job killing bill.
Whoa, all that joblessness we had from 2000 to 2007 was caused by trade with Chain? Lucky for us it stopped in '07 and we got a worker's paradise from 2008 to now. We sure can't have that TPP making things they way they were....
Wait a second, that doesn't make any sense. What are we missing here?
“That is assuming there are 1 million jobs left here now.”
There are except for the fact of 30 million ‘immigrant’ workers getting a full ride and I don’t know how many H1b visa termites replacing Americans.
No doubt in my mind. Worse it will take millions of IT jobs too. Lots of high paying jobs will go to 3rd world immigrnants as the borders disappear. But you need to worry for the kids. This place is going to be hollowd out like a deer corpse along the road.
No it is not. That was the TAA which they dropped.
I agree. The authors are being generous thinking that only factory jobs will disappear. Any job that can be done on the computer is at risk and that includes engineering, IT, medical record keeping, accounting, legal research ... on and on.
Pay foreign workers to produce and pay generous welfare benefits to citizens not to...
It worked for hundreds of years for Rome- until it didn’t.
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