LETTER: NAFTA died ugly death it deserved
To the Editor:
For over 25 years, NAFTA stood relatively unchallenged, standing almost as a universal law, whose very existence was built into the fabric of evolution of society. 4.5 million manufacturing jobs in the USA have been lost since its implementation, having been replaced with low paying "service sector" jobs that are ultimately non-productive for the nation as a whole. While Mexico gained factory jobs, they did so by becoming slave market producers. In all three countries, the real fruits of NAFTA can be seen by the explosions of child poverty, crime, opioid/drug epidemics and suicide.
Thankfully, as of March 4, 2018, that sacred cow has come to die the ugly death that it deserved. Following through on what many thought was merely "opportunist campaign rhetoric," U.S. President Donald Trump announced that he would invoke a 25 percent tariff on foreign aluminium and 10 percent tariff on steel breaking sacred dogmas at the foundation of Globalization.
Blasphemy! Screamed the establishment technocrats and Wall Street bankers. Everyone knows that under the NAFTA/WTO dictated world order, nation states are not supposed to play a role in shaping the character of their economies as they did in the primitive ages past! The invisible hand of the markets is supposed to self regulate the world and create wealth and creative growth only on the condition that nations remain impotent to regulate the banks, deploy credit or use national banks.
What is important though often left out of this entire circus show, is that NAFTA, like the WTO and Trans-Atlantic financial system of which they are components, were never legitimate in the first place, as they arose from an intention to dismantle the institutions of sovereign nation states while enslaving the mass of the targeted populations. Delusional arguments defending these failed mechanisms were best nipped in the bud now, before ever greater damage can be permitted to unfold. Time is of the essence. President Trump, who knows that the invisible hand has been stealing from all nations' vitality for decades, also knows Glass-Steagall must be reinstated to make America great again.