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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: coug who wrote (25503)	8/14/2003 9:52:57 PM
From: stockman_scott	Respond to of 89467

Death of Manufacturing _________________________ The rise of free trade has eroded America’s industrial base and with it our sovereignty. By Patrick J. Buchanan The American Conservative August 11, 2003 issue amconmag.com <<...These, then, are the three pillars of the Global Economy: first, the willingness of America to bail out nations about to default. Second, the willingness and capacity of America to run enormous trade deficits indefinitely. Third, continued wealth transfers to the Third World. And this is why the Global Economy is in peril. When Argentina declared it could not service its debt, America and the IMF refused to lend new money. Argentina defaulted. A tottering Brazil was bailed out, but the message was clear. The days of automatic bailouts of bankrupt regimes are over. And with the dollar sinking, the U.S. budget deficit soaring, our merchandise trade deficit at $562 billion and rising, and manufacturing jobs vanishing at the rate of 80,000 a month, America’s willingness and ability to continue sacrificing for the Global Economy are coming to an end. Perhaps the most inexplicable free traders are the neoconservatives who champion “unilateralism,” talk of a Pax Americana, and cheer the coming American empire of pith helmets and jodhpurs. Do they not understand that trade is not an end in itself but a means to an end: national power? Can they not see that our growing dependence on foreign oil and nations like China for the necessities of national defense imperils our security? Can they not see that these mammoth trade deficits must sink the dollar and that no nation with a falling currency can maintain the troops and subsidies to sustain an empire? In 1962, Prescott Bush stood with Barry Goldwater and Strom Thurmond to vote no on JFK’s Trade Expansion Act. President Bush rejects the economic patriotism of his grandfather and embraces the Wilsonian faith that free trade will lead to global democracy and world peace. Like his father, he also embraces Wilson’s faith in open borders and moral interventionism. Wilsonism may cost him his presidency...>>