So how did the Clinton’s negotiation skills work out for you?
The ulterior meaning of ‘Bill’s’ is in reference to Bill Clinton and ‘Pill’s’ is a reference to Hillary Clinton. The purpose of this series of posts is to review the results of their negotiations during their terms of office and how it has affected US Workers and our Nation. The reason I refereed ‘Pill’ to Hillary Clinton is because she is now promising to ‘cure’ the ill effects, same as a medicinal pill might, the bills created during Bill’s term as President.
Woe to thee, O land, when thy king is a child, and thy princes eat in the morning! (Ecclesiastes 10:16)
Sad is the case of a nation, when not only their king is a minor, or a foolish one; but when his tutors and guardians, or his ministers of state and counsellors, give up themselves to sensual pleasures, and neglect public affairs; and, instead of being in the council chamber, or in a court of judicature, or at their early devotions, are indulging themselves in riotous eating and drinking. (Excerpt Gils Bible Comment)
My Context of Our Time to this 3000-year-old Ecclesiastes Verse
Sad is the present public affairs of US workers and our nation’s economy as the result of foolish leadership. The result of their folly is to have given up tUS business and vital farmland assets to foreign trade partners, in order to indulge in short term personal profits at the expense of our nations posterity.
NAFTA and CHINA Trade Negotiations
Both of the above Trade Bills were priorities of Bill Clinton and were considered his successes as President. Both the bills were supported by both Democrat and Republican in Congress in spite of objections by US worker representatives for their interests.
Clinton touted the negotiations as win-win agreements for both trading nations. However, the scorecard to determine who actually are the real winners and losers is which nation has the more favorable trade surplus. The USA scorecard is currently 800 billion dollars a year in deficit trade. In other words, not only is the USA clearly holding the losing scorecard, it is the largest losing scorecard in history of trade.
I wrote a detailed series of posts titled, King Solomon, Fair Trade that I am now re-posting daily to explain in detail what I experienced firsthand in my business career of the causes and effects of deficit trade balances on the businesses and people I encountered ever since the inceptions of these two trade bills.
How Are These Trade Deals Working Out for You and Our Nation?
For example, if you are one of the estimated range from eight to thirty million displaced manufacturing and support workers who previously earned an average yearly wage of $40,000 and now earn $25,000 stocking shelves with imported manufactured product, consider this scenario,
You are enjoying buying cheaper priced imported goods, mainly electronic gadgets, TV, phone, computers or games at lesser cost than if manufactured in the USA. You may buy a new gadget on average every three to five years.
My question to you is this. Is the savings of the imported electronic gadgets been a better value or deal for you on average? For example, multiply your former $40,000 a year wages times 3 years and the total is $120,000. Multiply $25,000 times 3 years and the total is $75,000. Then ask yourself if the imported prices worth your trade off in wages?
In addition, most workers now making $25,000 a year are no longer receiving employer benefits of retirement plans, medical insurance, vacation time, etc.
For Our Nation?
Less average workers and earnings equates to less tax revenues and more need to subsidize government subsidy programs such as food stamps, rent subsidies, medical, etc.
This also affects non-displaced workers or higher average earning worker by requiring their being accessed higher taxes to subsidize lesser paid workers or government subsidies.
There is also the effect of the decrease of job opportunities to either advance in salaries or for millennials to obtain livable wage jobs both now and in the future. If a college loan was obtained, good luck paying off the loan if your degree is in a social science or business rather than a medical or technical degree.
As for Those Who Profited Most by the ‘Bills,’
Then there are of course the highest wage earners or owners of businesses or stocks ownership in businesses. Problem is only twenty percent of people own eighty percent of stocks.
I will not bring up the one percent or the 66 families in the world that own ninety percent of the worlds assets.
In My Next Post
I will explore how the ‘Clinton Bill’s’ affected the Mass Media and you.
Regards and goodwill blogging.
Nafta Trade History HERE
China Trade History HERE
Ten Years Later History HERE
Donald Trump Politifact Meter on Trade HERE