Will Obama cancel Free Trade Agreements?

According to an article which has just been published in the Telegraph(UK), Obama and the Democrats are likely to wage an economic war against free trade:

Revenge of the Left across the world

Whatever the exact result of the US elections tomorrow, we must assume that the whole governing machinery of Washington and the state capitols will soon be hostile to laissez-faire thinking.

By Ambrose Evans-Pritchard
Last Updated: 3:39PM GMT 03 Nov 2008

It is not just that the Democrats will win a crushing victory in both houses of Congress, perhaps reaching the 60-seat Senate threshold that lets them steam-roll legislation. It is also that the incoming class of 2008 is of a new creed. Many no longer believe – or actively reject – the free trade and free market catechisms.

As commentator Markos Moulitsas put it in Newsweek: "The big question is, will Democrats nationwide simply 'win' the night–or will they deliver an electoral drubbing so thorough that it signals the utter rejection of conservative ideology and kills the notion that America is a 'center-right' country?" he said.

No matter that statist policies were responsible for this global crisis in the first place. It was Western governments that set interest rates too low for too long, encouraging us all to abuse credit.

It was Eastern governments that held down their currencies to pursue mercantilist trade advantage, thereby accumulating vast foreign reserves that had to be recycled. Hence the bond bubble. This is the deformed creature known as Bretton Woods II. Protectionist Democrats are right to complain that the game is rigged. Free trade? Laugh on.

But at this point I have given up hoping that we will draw the right conclusions from this crisis. The universal verdict is that capitalism has run amok.

In any case the damage caused as credit retrenchment squeezes real industry is likely to be so great that Barack Obama may have to pursue unthinkable policies, just as Franklin Roosevelt had to ditch campaign orthodoxies and go truly radical after his landslide victory in 1932. Indeed, Mr Obama – if he wins – may have to start by nationalizing the US car industry.

www.telegraph.co.uk...

As a Canadian I can only hope that he does cancel the free trade agreements. Then you will actually have to pony up for our goods.

It is rather ironic that several months ago, in a world-wide poll, it was reported that Barack Obama was the heavy favorite of the world, in the US elections.
It seems that now that his election is all but certain, the world may get what it asked for, IN A WAY. They wanted Obama to win, which he probably will, but in the process, he is likely to enact protectionist measures, which will further harm the European and World economies. As one of my friends on ATS says in his signature, "Be careful of what you ask for, you just may get it."

Originally posted by ProfEmeritus
It is rather ironic that several months ago, in a world-wide poll, it was reported that Barack Obama was the heavy favorite of the world, in the US elections.
It seems that now that his election is all but certain, the world may get what it asked for, IN A WAY. They wanted Obama to win, which he probably will, but in the process, he is likely to enact protectionist measures, which will further harm the European and World economies. As one of my friends on ATS says in his signature, "Be careful of what you ask for, you just may get it."

IF he were to actually repeal a lot of the globalization measure such as the Free Trade Agreements it would actually help most of the other countries and the smaller businesses. When you study these agreements it is the huge corporations that benefit not the small guy.

However that being said. Obama is part of the CFR and well lead us to the same results as McCain would, except Obama has a lot more personality and is easier to swallow. Meaning he will at least use lube. If Obama actually does some good for the people and helps to curb the NWO agenda I would more than surprised however not unappreciative.

As in all other cases in our greedy world... follow the money. There is a reason Obama has raised so much money for his campaign. The rulers of the world would not let Obama win if he wasn't under their thumb already.

While I don't believe what it comes from the mouth of politicians on campaign I wish it was true.

As the Free trade agreements is killing America.

General Electric endorses Obama for President. A company that has outsourced thousands of jobs out of the country. GE has more factories slated for closure or sale at the beginning of 2009. I would bet that the Free Trade Agreements will be even extended to Africa where General Electric's revenue is growing leaps and bounds.

[edit on 3-11-2008 by TamtammyMacx]

reply to post by TamtammyMacx


GE also owns outright or has options on 80% of all the 'Green tech' out there. Thats why they are pushing the global climate change reteric so unabashedly. They have options on most of the property that can supply wind generation, Solar panel tech and coal fired generation either directly or by proxy.

Zindo
PS read a copy of their stock prospectus at your local library. Most larger ones have them!


[edit on 11/3/2008 by ZindoDoone]