Thread: Stinging stats:U.S. sees no net job growth NAFTA, CAFTA, WTO

Stinging stats: U.S. sees no net job growth

Worst performance for economy since end of Great Depression

Posted: January 10, 2010
9:21 pm Eastern
© 2010 WorldNetDaily

Free-trade globalists have been dealt a shocking setback after net job growth in the United States in the last decade, from 2000 through 2009, was announced to be zero, the worst performance for the U.S. economy since the end of the Great Depression in the 1930s., Jerome Corsi's Red Alert reports.

"Globalists typically gloss over the issue by citing statistics that claim 26 million jobs were created in the United States between 1993 and 2007," Corsi wrote.

He said the real picture becomes clearer when 1990s data is separated from 2000-2009 data and when "net jobs" are analyzed by taking into consideration not just new jobs created but also existing jobs lost.



Red Alert has consistently warned that what went wrong in the decade 2000-2009 was largely attributable to the determination of globalists to create a one-world economy through "free-trade" agreements such as NAFTA, CAFTA and the World Trade Organization.

With millions of high-paying manufacturing jobs lost in the U.S. to China while millions more white-collar jobs are shipped to India, the Federal Reserve and U.S. Treasury are left to creating bubbles by reducing interest rates
to zero or near zero to stimulate the semblance of economic growth, Corsi explained.

The first disaster from this policy was the bursting of the housing bubble, to be followed shortly by the bursting of the stock-market bubble, that Red Alert continues to predict will happen once the Fed begins increasing interest rates.

No previous decade going back to the 1940s has had net job creation in the U.S. economy of less than 20 percent.

Corsi noted that American middle-class families appear to be falling backward with regard to income levels.

"Middle-income families made less in 2008, when adjusted for inflation, than they did in 1999 – and the number is sure to have declined further during a difficult 2009," the Washington Post reported. "The Aughts were the first decade of falling median incomes since figures were first compiled in the 1960s."

Moreover, the newspaper reported the net worth of American households, as measured by the value of their houses, retirement funds and other assets minus debts, has also declined when adjusted for inflation, despite sharp gains in every previous decade since the data were first compiled in the 1950s.

The Post also pointed out that the bursting of the housing bubble has been particularly difficult on middle-income families, of which 69 percent owned a home in 2007, more than four times the proportion owning stocks.

"The basic globalist formula under the free-trade banner is that the United States has exported high-paying manufacturing jobs to foreign nations, while a Spanish underclass from south of the border has been imported to compete at lower benefits and wages for low-skilled jobs in the United States," Corsi explained. "The loser in this equation is the U.S. middle class and as a result, the U.S. consumer, ironically the very engine that has propelled the growth in the global economy since the presidency of Jimmy Carter."

Since 2000, the U.S. manufacturing sector has lost approximately 4 million manufacturing jobs, nearly 25 percent of the total manufacturing workforce, according to the Bureau of Labor Statistics.

While economists argue not all these jobs were lost to outsourcing, U.S. multinational corporations have invested heavily in transferring manufacturing to China.

Corsi noted that even Mexico is losing manufacturing jobs to China, with some 500,000 manufacturing jobs transferred from Mexico to China, in search of even cheaper labor than is available under NAFTA.

Red Alert's author, whose books "The Obama Nation" and "Unfit for Command" have topped the New York Times best-sellers list, received his Ph.D. from Harvard University in political science in 1972. For nearly 25 years, beginning in 1981, he worked with banks throughout the U.S. and around the world to develop financial services marketing companies to assist banks in establishing broker/dealers and insurance subsidiaries to provide financial planning products and services to their retail customers. In this career, Corsi developed three different third-party financial services marketing firms that reached gross sales levels of $1 billion in annuities and equal volume in mutual funds
. In 1999, he began developing Internet-based financial marketing firms, also adapted to work in conjunction with banks.

In his 25-year financial services career, Corsi has been a noted financial services speaker and writer, publishing three books and numerous articles in professional financial services journals and magazines.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=121602

"The basic globalist formula under the free-trade banner is that the United States has exported high-paying manufacturing jobs to foreign nations, while a Spanish underclass from south of the border has been imported to compete at lower benefits and wages for low-skilled jobs in the United States," Corsi explained. "The loser in this equation is the U.S. middle class and as a result, the U.S. consumer, ironically the very engine that has propelled the growth in the global economy since the presidency of Jimmy Carter."

Since 2000, the U.S. manufacturing sector has lost approximately 4 million manufacturing jobs, nearly 25 percent of the total manufacturing workforce, according to the Bureau of Labor Statistics.

While economists argue not all these jobs were lost to outsourcing, U.S. multinational corporations have invested heavily in transferring manufacturing to China.

Corsi noted that even Mexico is losing manufacturing jobs to China, with some 500,000 manufacturing jobs transferred from Mexico to China, in search of even cheaper labor than is available under NAFTA.

The time for protectionism is oh so long past due. Let's demand it, shall we?