Another Cog Coming Into Machinery of US Destruction: The Trans-Pacific Partnership
This trade pact is vile beyond words. If passed, it will devastate the US economy, health, well-being and workplace like nothing that has ever come before it, making Clinton’s NAFTA look benign by comparison. This may become Obama’s greatest and most hostile anti-99% accomplishment as president of the United States.
“Did you know that Barack Obama has been secretly negotiating the most important trade agreement since the formation of the World Trade Organization? Did you know that this agreement will impose very strict Internet copyright rules, ban all “Buy American” laws, give Wall Street banks much more freedom to trade risky derivatives and force even more domestic manufacturing offshore?
If you have not heard about this treaty, don’t feel bad. Obama has refused to even give Congress a copy of the draft agreement and he has banned members of Congress from attending the negotiations. The plan is to keep this treaty secret until the very last minute and then to railroad it through Congress and have it signed into law by October. The treaty is known as “the Trans-Pacific Partnership”, and the nations that are reported to be involved in the development of this treaty include the United States, Canada, Japan, South Korea, Australia, New Zealand, Chile, Peru, Brunei, Singapore, Vietnam and Malaysia. Opponents of this treaty refer to it as “the NAFTA of the Pacific”, and if it is enacted it will push the deindustrialization of America into overdrive. ”
But there may be hope Snowden’s revelations will hurl a wrench into the machine:
“Nevertheless, American citizens might still benefit from the Snowden revelations. It’s possible that his disclosures will throw a wrench in the European, and perhaps also Pacific trade talks underway. Both are hazardous to middle-class economic and even physical health.
Despite their branding, these pending pacts are not much about trade (international trade is already substantially liberalized) but about increasing the power of multinational corporations, by weakening regulation and by strengthening intellectual property protections. From a recent post:
By way of background, the Administration is taking the unusual step of trying to negotiate two major trade deals in the same timeframe. Apparently Obama wants to make sure his corporate masters get as many goodies as possible before he leaves office. The Trans-Pacific Partnership and the US-European Union “Free Trade” Agreement are both inaccurately depicted as being helpful to ordinary Americans by virtue of liberalizing trade. Instead, they have perilous little to do with trade. They are both intended to make the world more lucrative for major corporations by weakening regulations and by strengthening intellectual property laws…
These “trade” deals are Trojan horses to erode or eliminate national regulations. Baker anticipates that these deals will include sections that would limit government regulation (including at the state and local level) on fracking and could revive much of the internet surveillance that reared its ugly head in the failed SOPA.
From Public Citizen:
The draft text of the Trans-Pacific Partnership (TPP), a NAFTA-style FTA under negotiation between the United States and 10 Pacific Rim countries, contains the same limits on financial regulation as the WTO, and more. In addition, these rules would be privately enforceable by foreign financial firms that could “sue” the U.S. government in foreign tribunals, which would be empowered to order payment of unlimted sums of U.S. taxpayer money if they saw our laws as undermining such firms’ “expected profits.” Also, even as the International Monetary Fund has officially shifted from opposition to qualified endorsement of capital controls, which are used to avoid destabilizing floods of speculative money into and out of countries, the TPP would ban the use of these important regulatory tools. Despite years of pressure from former House Financial Services Committee Chair Rep. Barney Frank to permit capital controls, the Obama administration is the strongest promoter of this ban in the TPP.”