The Elusive Hoover !

By: Bill Olive Sr.

In the 1992 Presidential Campaign, Ross Perot warned all Americans that the North American Free Trade Agreement (NAFTA) would be like a 'Giant Sucking Sound' going south to cheap labor markets. Unfortunately, the majority of citizens and two big top Presidential Candidates; Bill Clinton and George HW Bush didn't see it that way. Apparently, neither did the lame stream media since most of these disinformation Guru's towed the line for these two clowns.

Since most Americans are more apt to follow the sheep-herding, talking-heads of the media, it's no surprise to some that Mr. Perot was only credited with the size of his ears and charts during his run for office.

I don't know the numbers on how many jokes were made of Mr. Perot during those years, but I can only imagine that the advertisers must have made a fortune while citizens flocked to their boob tubes popcorn in hand, for the next joke at the expense of Mr.Perot and his big, 'eerie' charts.

In my humble opinion, as well as many others now understand that Mr. Perot was correct in his assesment concerning 'Free' Trade.(use loosely). The charts that Mr. Perot used as his visual aid in order to drive his point home with the citizens that NAFTA would be a job-killing plan that the other two candidate clowns refused to understand, or even consider. According to Billy and Georgie, Opening up free trade was supposed to be very good for Americans! NOT!

Let's take a look at what this job killing, ticking time bomb has done to the US citizens since the fuse was lit.

Steve Hansen who is an international business and industrial consultant, who is also a frequent commentator for seekingalpha.com has compiled quite a bit of data on the effects of free trade and how it has contributed to the destruction of jobs here in America.With the data that Mr. Hansen compiled, which I will bullet point below, he wrote the following:

Note: Some quick facts using unadjusted data:

USA Trade Deficit Exports 1.3 million Jobs

*Through November 2010 according to U.S. Census, the USA has manufactured $4.55 trillion of goods in 2010.

*Total employment in the manufacturing industry is 11,660,000 according to the BLS. This means that for every $1,000,000 of production in 2010, 2.56 people were employed.

*Through November 2010 according to US Census data, the USA has exported $0.8 trillion of manufactured goods - or 17.5% of manufacturing.

*The total import of manufactured goods through November 2010 is a little more than $1.3 trillion making the manufactured goods trade gap more than $0.5 trillion.

*The manufacturing trade gap of $500,000,000,000 ($0.5 trillion) times 2.56 people per $1 million of manufacturing equals approximately 1.3 million jobs.

I should also note that Mr. Hansen's data was compiled using figures from the U.S. Census and the Bureau of Labor Statistics, as well as other sources that compile this data. He believes that he also understates the data since he didn't factor in the amount of jobs lost in the service industry Mr. Hansen estimates that there are two service jobs lost for every manufacturing job lost. He believes that the real figure is more like 5 Million jobs lost due to the NAFTA and other world trade inbalances! He also goes on to state that the 5 million jobs lost were more then the full-time jobs lost in 'The Great Recession'! "And this is only for 11 months of one year!!!"

I decided to check out the data from usdebtclock.org that i just looked at this evening to see how this number compared to the numbers that Mr. Hansen calculated 8 months ago.

Trade Numbers:

US Total Trade Deficit: $709,836,958,135 ($150,000 per minute)

US Trade Deficit(China only): $348,098,790,352 ($60,000 per minute)

WOW! I wonder what congress and the president think about these numbers? I bet I know how China and the other foreigners feel about these figures...Cha Ching!

Just the other day, I believe it was yesterday, I heard Judge;Andrew Napolitano make the following statements:

**We have exported 5.5 Million Jobs. For a loss of $100B tax revenue per year.

**China has a 25% Import Tariff compared to the US inport Tariff of 2.5%

** The current US trade deficit with China is over 466 Billion.

Interesting! China charges a 25% import tariff and we only charge a 2.5% import Tariff? Anyone in their right mind would see that these differences are killing US jobs! Wonder why US businesses are flocking to foreign countries to set up shop?

The Judge also stated the following:

**China owns over a trillion $$$ of our debt.

Based on all this data. Well, I'd have to say the following:

If it walks like a Peking Duck, sounds like a Peking Duck, smells like a Peking Duck, It must be a Hoover (made in china)!

I think it's time for these clowns, sporting Chinese clown outfits, working in Chinese big top tents, to make an exit stage left from D.C before the people finally catch on. And yes, they can leave the elephant dung behind for cleanup since it may be the last job remaining in America before the citizens do catch on!


Sources:

http://www.econintersect.com/b2evolution/blog2.php/2011/01/21/usa-trade-deficit-exports-1-3-million-jobs

http://www.econintersect.com/wordpress/?p=5769

http://www.usdeptclock.org

US Treasury

Federal Reserve ( Private central banksters)