I must admit, I’ve been struck speechless by the outrageousness of this article. I’ve literally been sitting here with my fingers frozen to the keyboard, unable to move as rants and foul language swirl in my head! I am so frustrated at this moment by my inability to reach through this monitor, grab the WTO (World “Trade” Organization) by its scruffy neck and choke the life out of it! This may be one of the most unbelievable things I’ve ever read.
The WTO, this tapeworm that feeds in the belly of America’s economy, this two-faced referee for the world’s parasites that talks about free trade on the one hand and then uses protectionism to help 2/3 of its member states suck the life blood from America’s economy, has the unmitigated gall to tell us to lower our trade barriers (what very, very few we have left, unlike the rest of the world) and then thinks that we’re dumb enough to believe that somehow this will increase our exports!?!?!?!! The WTO is chiding us to increase our exports! What are we supposed to do, load up ships and send them off-shore and sink them? Where is the WTO’s indignity with Japan, Korea, Germany, China and so many others for not buying more American products? How are we supposed to raise exports if no one is willing to import from us?
The United States should cut barriers to its markets to help it tackle economic turmoil, and boost exports to deal with its current account deficit, the World Trade Organisation (WTO) said.
Yeah, we’ve seen how lowering our trade barriers has helped our current account deficit, now approaching $1 trillion per year. The real motivation for the WTO’s insane outburst becomes evident in the following sentence:
“However the sustainability of the deficit cannot be taken for granted, and as such carries certain downside risks including an increase in protectionist sentiment,” it said.
Here is a rare, candid admission by the WTO that America’s trade deficit is unsustainable, but the whole purpose of this rant against the U.S. becomes clear in the second half of its sentence: it wants to head off the growing protectionist sentiment in the U.S. The tapeworm senses that the dog’s owner, the American people, now suspect the existence of this tapeworm and is about to take the dog to the vet for treatment. The tapeworm realizes that it needs to suck up the last of the dog’s blood before it’s too late.
As if that wasn’t enough, and still not lacking for gall, the WTO goes on to suggest that it’s Americans’ own fault for not saving and investing enough:
Measures to restrict trade would not be appropriate as the deficit reflects a gap in savings and investment, it said.
The United States may need to boost its savings rate while maintaining its traditional openness that allows U.S. producers and consumers to access foreign goods, services and capital.
They want our marrow to generate more blood to keep feeding their pack of hungry parasites. Does the WTO seriously believe that all of us wouldn’t love to increase our savings and investments? The American people used to do a great job of savings, but our ability to save has been steadily eroded by the falling wages and benefits that accompanied our loss of manufacturing jobs, thanks to our idiotic trade policies and our submission to the bites of the WTO’s parasites.
The article closes with one final, outrageous insult to the American people:
Although the United States is a strong supporter of the global trading system and a comprehensive deal in the long-running Doha round to open up world trade, it has not fulfilled all its international obligations, the WTO said.
These include notifying agricultural tariff quotas and government procurement statistics and fully implementing WTO rulings on intellectual property rights and anti-dumping.
The WTO is scolding us for our record on intellectual property rights and for practicing dumping!!! Can you believe this? The U.S. may be the only place on earth where intellectual property rights are actually respected, and we’re the world’s biggest dumping ground for products sold below cost, and yet we get the scolding!
My response if I were president? I’d tell the WTO (after stifling the urge to tell them to go to hell), “That’s the last straw. We’re withdrawing from this organization. It’s now clear that your agenda is to fleece America of its assets for the benefit of the rest of the world. We won’t stand for it any longer. All trade deals negotiated to date are null and void. We’ll implement new trade deals with individual nations on a case-by-case basis, and they’ll be structured to assure a balance of trade, using tariffs as necessary.”
But what are the chances that we’d ever have a president with that kind of backbone? We certainly don’t have one now. Do either McCain or Obama have it? I doubt it, but we’ll soon know for sure.