Worldwide "free trade" has been reduced by 50 percent. We are looking at "system failure" on a grand scale, that has no equivalent in history. All the king's horses and all the king's men cannot put it together again. You can give Wall Street all the money in the world, and we are still looking at a major Depression, possibly bigger than 1929. This recession has nothing to do with a crisis in consumer confidence. It is about outsourced jobs and industries and the destruction of Western markets. Western markets are supported by the disposable income created by those outsourced jobs. No jobs and no market. Western consumers no longer have the income to support our inter connected globalized economy. Since these jobs and industries were sent to low wage countries, they cannot support globalized "free trade." Any repairs of this "system" are only temporary, because failure of one part can bring down the whole "structure." Creating dispersed national markets is the only cure for this failed system, but "free trade" has to really crash before people start thinking again. The Democratic and Republican parties will crash with "free trade," so we need to look at alternative parties!
Pervis James Casey
May 14 2009 - 5:43pm