Bio: Founder of
Citizens for
Equal Trade

On September 7th, 2010, a highly distinguished Bloomberg Businessweek panel of experts discussed How to Fix the U.S. Economy [1]. These out-of-touch experts failed to discuss what most Americans know the key problem is, the U.S. $7.85 Trillion Trade Deficit which causes outsourcing and off-shoring job losses. In addition, due to constant trade deficit, job losses equate to serious loss of tax revenues putting the U.S. in more debt and [2] threatening our future. This goes to show how out-of-touch with reality distinguished experts can be in the U.S.A. We need experts who not only can think outside the box but can relate to the Millions of Americans who can’t find work. For example, they at least could have acknowledged the trade deficit and how it has affected the economy. They might look at some out of the box type proposals such as The Balance of Trade Restoration Act of 2006 [3, 4] which would not violate the WTO. America’s trade deficit is nearly 10 times worse than any other trade deficit country! Pretending that China’s currency manipulation will be solved and cure our trade deficit problems is another fantasy economists wrapped up in “free trade” ideology have, rather than understanding that global economic greed can’t be stopped without a proper trade policy.

We need a trade policy that stops cheating such as a balance of trade proposal that will help bring back U.S. manufacturing jobs. Until then, the trade deficit will just keep empowering foreigners to cheat, make huge profits, and buy up American businesses with their reinvested U.S. dollars they earn. Foreigners now own between 15 to 20 percent of all U.S. businesses and only employ about 3.5 percent of the workforce [5]. American businesses and jobs are for sale and the U.S. will continue on this destructive path until U.S. economists can see the rug being pulled from under them.

[1] www.businessweek.com/magazine/content/10_39/b4196054741296.htm, On September 7, Bloomberg Businessweek brought together four top economists to discuss How to fix the American Economy. Panel consisted of Yale University professor Robert J. Shiller, author of Irrational Exuberance; Peter R. Orszag, who recently stepped down as director of President Obama’s Office of Management & Budget; financial consultant and former Salomon Brothers Managing Director Henry Kaufman; and Professor Charles W. Calomiris, who is the Henry Kaufman Professor of Financial Institutions at Columbia University. Pimco Managing Director William H. Gross, who runs the world’s biggest bond fund, joined the group by telephone

[2] Trade Deficit’s Reverse Tariff Increased the U.S. National Debt – an 84% Correlation!

http://economyincrisis.org/content/trade-deficit%E2%80%99s-reverse-tariff-increased-us-national-debt-%E2%80%93-84-correlation-0

[3] http://en.wikipedia.org/wiki/Balanced_trade

[4] www.CitizensForEqualTrade.org

[5] Biggest Threat to America’s Future –The U.S. Free Trade Deficit http://economyincrisis.org/content/biggest-threat-americas-future-us-free-trade-deficit-0

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