General Discussion
In reply to the discussion: Who determined that the NSA and TPP are the most important issues? [View all]laundry_queen
(8,646 posts)is small, really small. Mostly they benefit in the forms of pensions, which, as we know, are disappearing anyway. Very few people have enough invested in stock markets to truly benefit from these free trade deals - it hurts them because as they lose jobs, they can no longer afford to invest. Only half of the middle class owns any stock at all, and that half includes people who stick $25 a month in an index fund. It's never anything that they will be able to live off of. Plus, they don't do as well as rich people because they stick to low fee investment services, which usually means lower quality, less informed financial planners.
And yes, shareholders don't have to do anything with the money. They can hoard it. Rich people have a tendency to not spend money once they get to a certain point, making more money doesn't make them spend anymore. It DOES stop dead after a certain point of richness.
The TPP bleeds jobs by allowing foreign investors to take over domestic companies, which makes it not only easier to outsource, but also means the profits go overseas. Also, the deal will make it easier for foreign companies to bid on domestic contracts.
Which countries would get them? Really? Poor countries that pay shitty wages like Vietnam.
Are Clinton and Obama evil tools? No. I don't think it's a secret that Obama is no economic guru though. And there are tons of money spent on lobbying these free trade agreements. So much that it's basically buying votes. Not sure they had a choice. We have to get the money out of politics because this little facet of it is only going to get worse.