Buchanan: Our Hollow Prosperity

[President Camacho]

Our hollow prosperity
Posted: February 15, 2006
1:00 a.m. Eastern


Now that the U.S. trade deficit for 2005 has come in at $726 billion, the fourth straight all-time record, a question arises.

What constitutes failure for a free-trade policy? Or is there no such thing? Is free trade simply right no matter the results?

Last year, the United States ran a $202 billion trade deficit with China, the largest ever between two nations. We ran all-time record trade deficits with OPEC, the European Union, Japan, Canada and Latin America. The $50 billion deficit with Mexico was the largest since NAFTA passed and also the largest in history.

When NAFTA was up for a vote in 1993, the Clintonites and their GOP fellow-travelers said it would grow our trade surplus, raise Mexico's standard of living and reduce illegal immigration.

None of this happened. Indeed, the opposite occurred. Mexico's standard of living is lower than it was in 1993, the U.S. trade surplus has vanished, and America is being invaded. Mexico is now the primary source of narcotics entering the United States.

Again, when can we say a free-trade policy has failed?

The Bushites point proudly to 4.6 million jobs created since May 2003, a 4.7 percent unemployment rate and low inflation.

Unfortunately, conservative columnist Paul Craig Roberts and analysts Charles McMillion and Ed Rubenstein have taken a close look at the figures and discovered that the foundation of the Bush prosperity rests on rotten timber.

The entire job increase since 2001 has been in the service sector – credit intermediation, health care, social assistance, waiters, waitresses, bartenders, etc. – and state and local government.

But, from January 2001 to January 2006, the United States lost 2.9 million manufacturing jobs, 17 percent of all we had. Over the past five years, we have suffered a net loss in goods-producing jobs.

"The decline in some manufacturing sectors has more in common with a country undergoing saturation bombing than with a super-economy that is 'the envy of the world,'" writes Roberts.

Communications equipment lost 43 percent of its workforce. Semiconductors and electronic components lost 37 percent ... The workforce in computers and electronic products declined 30 percent. Electrical equipment and appliances lost 25 percent of its workforce.

How did this happen? Imports. The U.S. trade deficit in advanced technology jobs in 2005 hit an all-time high.

As for the "knowledge industry" jobs that were going to replace blue-collar jobs, it's not happening. The information sector lost 17 percent of all its jobs over the last five years.

In the same half-decade, the U.S. economy created only 70,000 net new jobs in architecture and engineering, while hundreds of thousands of American engineers remain unemployed.

If we go back to when Clinton left office, one finds that, in five years, the United States has created a net of only 1,054,000 private-sector jobs, while government added 1.1 million. But as many new private sector jobs are not full-time, McMillion reports, "the country ended 2005 with fewer private sector hours worked than it had in January 2001."

This is an economic triumph?

Had the United States not created the 1.4 million new jobs it did in health care since January 2001, we would have nearly half a million fewer private-sector jobs than when Bush first took the oath.

Ed Rubenstein of ESR Research Economic Consultants looks at the wage and employment figures and discovers why, though the Bushites were touting historic progress, 55 percent of the American people in a January poll rated the Bush economy only "fair" or "poor."

Not only was 2005's growth of 2 million jobs a gain of only 1.5 percent, anemic compared to the average 3.5 percent at this stage of other recoveries, the big jobs gains are going to immigrants.

Non-Hispanic whites, over 70 percent of the labor force, saw only a 1 percent employment increase in 2005. Hispanics, half of whom are foreign born, saw a 4.7 percent increase. As Hispanics will work for less in hospitals and hospices, and as waiters and waitresses, they are getting the new jobs.

But are not wages rising? Nope. When inflation is factored in, the Economic Policy Institute reports, "real wages fell by 0.5 percent over the last 12 months after falling 0.7 percent the previous 12 months."

If one looks at labor force participation – what share of the 227 million potential workers in America have jobs – it has fallen since 2002 for whites, blacks and Hispanics alike. Non-Hispanic whites are down to 63.4 percent, but black Americans have fallen to 57.7 percent.

What is going on? Hispanic immigrants are crowding out black Americans in the unskilled, semi-skilled and skilled job market. And millions of our better jobs are being lost to imports and outsourcing.

The affluent free-traders, whose wealth resides in stocks in global companies, are enriching themselves at the expense of their fellow citizens and sacrificing the American worker on the altar of the Global Economy.

None dare call it economic treason.

-----------------------------------------------

http://www.wnd.com/news/article.asp?ARTICLE_ID=48837

[Kodos]

What is going on? Hispanic immigrants are crowding out black Americans in the unskilled, semi-skilled and skilled job market. And millions of our better jobs are being lost to imports and outsourcing.

Insourcing is by far a bigger issue.

[President Camacho]

Insourcing is by far a bigger issue.
I don't know if you could prove that's quantitatively true, but yes it certainly is a big issue.

You're mainly talking about Indian/Chink engineers being employed here by US companies correct?

[Kodos]

You're mainly talking about Indian/Chink engineers being employed here by US companies correct?

In my specific sector yes, but its true across the economy. I can't bring myself to hate them they are mostly good people but there shouldn't be so many here( unless they are inventing things freelance) at a job when the american job market has rivaled Herbert Hoover.

[Westminster]

Yes, yes, yes, what a great article! So, the growth side of our private jobs market is entirely wrapped up in Healthcare Services. WoW! Where is that industry headed? Eyikes! Baby Boomers prepare yourselves for some slicing and dicing, because we need the money honey! :bbbat:

Oh boy! can you say, greedy healthcare system!!?? Want to know why? Well, there's your answer. (it's the "patriotic" thing to do) :rofl: and that ain't funny!
:whip: move along little doggies, get in that itty bitty robe and slide your behind onto the stainless steel.

http://www.youtube.com/watch?v=r2hUsUDcBiI

[Jett]

Yes, Pat B., the dirty Republican trick to keep racists voting Republican in hopes that he's a "secret Nazi" who will one day come out and slay the jews who he runs interference for.

[Westminster]

Yes, Pat B., the dirty Republican trick to keep racists voting Republican in hopes that he's a "secret Nazi" who will one day come out and slay the jews who he runs interference for.

Perhaps, Jeff Rense would be interested in this "theory."

http://www.psitalk.com/images/rense.gif

I'll tell you what though, he's got some nice Mario Lanza Cds for sale. That guy is good!

[Skirnir]

$53 trillion in unfunded liabilities, growing at $3 trillion / year.

No talk of that. However, this is sufficient indication that such promises will never be paid, or will be paid in diluted dollars.

[Jett]

Perhaps, Jeff Rense would be interested in this "theory."


Both parties are anti racist and anti nazi. Would the democrats put up with Pat Buchanan? No, because he wouldn't bring them more votes than he would cost them. The only reason they keep Pat around is to keep control of opposition that may develop without a Pat figure to keep those peoples faith (who Pat represents) in their rigged two party system.

[Jett]

Gawd, Pat is such a bore. I just skimmed his article. He's been recycling the same of formula since the 70's. I wonder if he has a computer macro he makes these articles with now.

[Westminster]

Gee whiz, Mario Lanza is such a bore. I just skimmed his song book. He's been recycling the same formula since the 50's. I wonder if he has a printing press he used to make these songs with.

Say what you will, but Mario Lanza is a wonderful singer.

http://www.youtube.com/watch?v=YDxvBNR7ciI&feature=related

[Westminster]

$53 trillion in unfunded liabilities, growing at $3 trillion / year.

No talk of that. However, this is sufficient indication that such promises will never be paid, or will be paid in diluted dollars.

The Social Security benefit estimator that comes every year always reminds us that we should anticipate a ~25% cut in benefits. The GAO announced that significant changes would need to be made to prevent Medicare from bankrupting the country.

GAO: "USA is living beyond its means"

http://www.youtube.com/watch?v=KjZBOCAgR64

[Skirnir]

Fat chance that will ever happen. Politicians, as they simply wish to get re-elected, though with a few notable exceptions, do not wish to enact painful changes, instead they pass the hurt - with interest - onto the next Congress.

I don't ever expect to see a cent from Social Security, just as well as I never paid in.

[Westminster]

Fat chance that will ever happen. Politicians, as they simply wish to get re-elected, though with a few notable exceptions, do not wish to enact painful changes, instead they pass the hurt - with interest - onto the next Congress.

I don't ever expect to see a cent from Social Security, just as well as I never paid in.

In regards to Social Security, it appears that program isn't the major problem and, as I said, they've already told us that we should expect a 25% cut, if nothing is done to change anything. I thought that was relatively comforting.

The major problem seems to be Medicare. Again, I think the industry has become very greedy and hence, unscrupulous. People consume too much healthcare, but doctors and the entire medical establishment encourages that. Why?

First, people appear to be incompetent. Of course, they appear to be "educated" that way.

Second, the industry appears to encourage the most invasive and expensive treatments. You know, instead of changing your diet, the doctor RECOMMENDS you take lots of expensive prescription drugs and eventually, turn to surgery, if your condition degrades. Which of course, wouldn't be too surprising.

Third, our economic growth in the private sector, according to this article, is
coming from Healthcare. So, the government is not inclined to do anything that would hinder that "growth."

Fourth, our economy appears to be dependent on the growth in healthcare.

Fifth, it seems that the only way to change that dependency is to change our trade policy. However, Washington appears to be stuck on Free Trade.

[Westminster]

In principle, I have no problem coercing others to do their duty; you do.

[Skirnir]

Duty is merely a ruse to coercion by a third party, it is funny that one is never on the giving end of duty, only the receiving end. Contractual obligation, on the other hand, is equitable and voluntary.

It is your duty to send a few 100-gram gold bars to my mailbox in Antigua :p Who determines duty besides those who always seem to gain from its imposition?

As for free trade: typical scapegoat, though the global labour market dislocations may be playing a role. The US simply cannot compete, and if it were to stop trading, there would be shortages and rampant inflation. We should be kissing China's ass, thanking them in-between smooches that they sell us that which we are no longer capable of manufacturing due to the ever-multiplying legions of red tape and bureaucrats, not to mention insidious corporate tax rates. The vast majority youth of today are incapable of making anything other than MySpace profiles and fast food, even if given the training and opportunity to do so, and even if they were, how could they if big government smothers everything in its largesse?

[Crowley]

Both parties are anti racist and anti nazi. Would the democrats put up with Pat Buchanan? No, because he wouldn't bring them more votes than he would cost them. The only reason they keep Pat around is to keep control of opposition that may develop without a Pat figure to keep those peoples faith (who Pat represents) in their rigged two party system.


Buchanan is old school and fills a grandfathered-in slot in the commissar club. His perspective will be retired along with him.

[Westminster]

Buchanan is old school and fills a grandfathered-in slot in the commissar club. His perspective will be retired along with him.

Reality is not plastic.

[Crowley]

Party lines and deviation in the MSM are carefully controlled.

[Westminster]

Party lines and deviation in the MSM are carefully controlled.

Yes, but the effort is hopeless.

[Crowley]

Try to be coherent will you please.

[Jake Featherston]

Duty is merely a ruse to coercion by a third party, it is funny that one is never on the giving end of duty, only the receiving end. Contractual obligation, on the other hand, is equitable and voluntary.

It is your duty to send a few 100-gram gold bars to my mailbox in Antigua :p Who determines duty besides those who always seem to gain from its imposition?

I could be mistaken, but I'm pretty sure no one else on this board is interested in sophomoric, Randroid solipsism. I certainly hope not.

Embarrassingly, I must admit I was rather taken with such notions myself about 15 years ago, alas.

[Skirnir]

Do not say my member title did not give fair warning.

[Jake Featherston]

Do not say my member title did not give fair warning.

I've been just dying to use the term "Randroid" ever since you first registered, actually.

In fairness, The Fountainhead and We, the Living are good novels.

[Valthurak]

Quite a good piece of promotional material for protectionism. Is this by the same man who wrote The Unnecessary War?

[Kriger]

Quite a good piece of promotional material for protectionism. Is this by the same man who wrote The Unnecessary War?

Yes, this would be the same Patrick Buchanan.

[Westminster]

Try to be coherent will you please.

Well, you see it was. The attempt to exert that kind of control is hopeless, because reality is not plastic. So, your assumption that Pat Buchanan's "perspective will be retired with him," appears to be, erroneous.

[Westminster]

Duty is merely a ruse to coercion by a third party, it is funny that one is never on the giving end of duty, only the receiving end. Contractual obligation, on the other hand, is equitable and voluntary.

It is your duty to send a few 100-gram gold bars to my mailbox in Antigua :p Who determines duty besides those who always seem to gain from its imposition?

Ultimately, duty comes from God, in particular, His Law. His Law has been revealed and we have a duty to obey it, because we have a duty to obey Him, because He is Sovereign over All. This, of course, is the essential principle behind Western Civilization, which of course, would include The U.S.A.

Still, it is apparent that we have "strayed." However, this is, "the way home." Remember the phrases, "One Nation Under God" and "In God We Trust." They have an origin.

http://itsmypulp.files.wordpress.com/2006/12/are-you-my-mother.jpg

[Curious Guinevere]

You're mainly talking about Indian/Chink engineers being employed here by US companies correct?

In my specific sector yes, but its true across the economy. I can't bring myself to hate them they are mostly good people but there shouldn't be so many here( unless they are inventing things freelance) at a job when the american job market has rivaled Herbert Hoover.

Problem is, America's educational system is such a mess these days that if we had to depend exclusively on Americans, we'd have to leave a lot of important engineering and other technical jobs unfilled. A lot of American universities actually have remedial reading programs these days! I'm guessing that in India or southeast Asia, if you told a university "You should have a special program to help your students who don't know how to read at the university level," they'd laugh you right out of their offices.

[Crowley]

Problem is, America's educational system is such a mess these days that if we had to depend exclusively on Americans, we'd have to leave a lot of important engineering and other technical jobs unfilled. A lot of American universities actually have remedial reading programs these days! I'm guessing that in India or southeast Asia, if you told a university "You should have a special program to help your students who don't know how to read at the university level," they'd laugh you right out of their offices.

This all has to do with niggers. In case you didn't know. I mean there are certainly illiterate Whites who take these remedial college sections, but they were originally thought up as something for freshman niggers to take while creating debt. The end result is we have high schools were teachers can't pass basic literacy exams.

[Curious Guinevere]

This all has to do with niggers. In case you didn't know. I mean there are certainly illiterate Whites who take these remedial college sections, but they were originally thought up as something for freshman niggers to take while creating debt. The end result is we have high schools were teachers can't pass basic literacy exams.

Whoever's responsible, the fact is America can't provide its own scientific workers in sufficient amounts, so our choices are either import foreign workers, or let our technology fall behind the rest of the world.

And white parents share a lot of blame; if you look up the phenomenon of "helicopter parents" (who spoil their little darlings as children and then hover over them as adults, even to the point of accompanying their children on job interviews), these are mostly middle-class white parents.

White, black -- our country as a whole is turning into a huge mess, and I think trying to fix the problem would make a lot more sense that trying to assign blame. Problem is, Americans as a whole have become spoiled: people want to get jobs as scientists without doing the hard work necessary to learn all the appropriate skills, kids right out of college expect to get high-paying CEO jobs rather than start at the bottom and work their way up ... we're ALL in big trouble.

[Kodos]

Problem is, America's educational system is such a mess these days that if we had to depend exclusively on Americans, we'd have to leave a lot of important engineering and other technical jobs unfilled. A lot of American universities actually have remedial reading programs these days!

Cures and treatments for sickenesses are often bad tasting and painful, kicking them out would FORCE systematic change for the better. I tend to disagree that there aren't enough Americans with the engineering capability needed.

[Crowley]

Whoever's responsible, the fact is America can't provide its own scientific workers in sufficient amounts, so our choices are either import foreign workers, or let our technology fall behind the rest of the world.

And white parents share a lot of blame; if you look up the phenomenon of "helicopter parents" (who spoil their little darlings as children and then hover over them as adults, even to the point of accompanying their children on job interviews), these are mostly middle-class white parents.

White, black -- our country as a whole is turning into a huge mess, and I think trying to fix the problem would make a lot more sense that trying to assign blame. Problem is, Americans as a whole have become spoiled: people want to get jobs as scientists without doing the hard work necessary to learn all the appropriate skills, kids right out of college expect to get high-paying CEO jobs rather than start at the bottom and work their way up ... we're ALL in big trouble.


You are absolutely right that there are many spoiled White kids out there, but that is a different subject altogether. I was discussing the subject of remedial English courses at the college level and sharing the observation that it was part of the general affirmative action agenda of multiculturalism. So far as the tech sector goes, you sound a little breathless. If we still had a small family farming sector and an industrial sector in an economy where usury and deficit financing wasn't out of control, maybe we wouldn't need be so concerned with turning out massive numbers of eggheads, and could get by just fine with a modest number of them.

[Skirnir]

Problem is, America's educational system is such a mess these days that if we had to depend exclusively on Americans, we'd have to leave a lot of important engineering and other technical jobs unfilled. A lot of American universities actually have remedial reading programs these days!

Cures and treatments for sickenesses are often bad tasting and painful, kicking them out would FORCE systematic change for the better. I tend to disagree that there aren't enough Americans with the engineering capability needed.

If one insists on using the blunt instrument, implement it gradually so it will not come as a systemic shock, otherwise business will follow workers elsewhere.

On the other hand, I would hope to be emigrated under the same program once visas are in order; it is very easy to lose a passport. It is hard to go straight to Brunei without a transfer in Hong Kong, and who doesn't like free airfare?

[Crowley]

If one insists on using the blunt instrument, implement it gradually so it will not come as a systemic shock, otherwise business will follow workers elsewhere.

On the other hand, I would hope to be emigrated under the same program once visas are in order. It is hard to go straight to Brunei without a transfer in Hong Kong, and who doesn't like free airfare?

To Brunei? You will learn first hand what true homesickness is all about. Don't burn your bridges.

[Skirnir]

To Brunei? You will learn first hand what true homesickness is all about. Don't burn your bridges.

I'm already homesick i.e. sick of the homeland. Besides, business is business; it is imprudent to let such considerations get in the way of acting in one's self interest. The ship is sinking, as made clear by the article, and I do not have a lifeboat, things are tenuous enough since it is taking lone enough (the transfer agreement had 1-year bottleneck due to pre-reqs) to blow up the inflatable mattress.

[Crowley]

I'm already homesick i.e. sick of the homeland. Besides, business is business; it is imprudent to let such considerations get in the way of acting in one's self interest. The ship is sinking, as made clear by the article, and I do not have a lifeboat, things are tenuous enough since it is taking lone enough (the transfer agreement had 1-year bottleneck due to pre-reqs) to blow up the inflatable mattress.

You will wake up yourself in Brunei too, but have fun as it sounds like an adventure.

[Westminster]

I'm already homesick i.e. sick of the homeland. Besides, business is business; it is imprudent to let such considerations get in the way of acting in one's self interest. The ship is sinking, as made clear by the article, and I do not have a lifeboat, things are tenuous enough since it is taking lone enough (the transfer agreement had 1-year bottleneck due to pre-reqs) to blow up the inflatable mattress.

Oh America is not in that bad of a way. :rofl: Sure, we may see a general decline in prosperity for the general public and our National power, but America will still be a rich country and the most powerful country on Earth. At least, as long as you'll need to worry about.

[Skirnir]

This statement reflects well the dissonance of our views:

You speak of the wealth of the country. I speak of my own wealth.

What good is it even if a country gains money if I forego profit?

[Westminster]

This statement reflects well the dissonance of our views:

You speak of the wealth of the country. I speak of my own wealth.

What good is it even if a country gains money if I forego profit?

Actually, it appears that it reflects a "misunderstanding."