John Kasich to seniors who want to keep their Social Security: “get over it”

[AdHocSolver]

98. The global economy is as real as the tooth fairy.

The term "global economy" was coined by the corporate elite to imply that there is competition among international businesses for the production and distribution of goods.

Nothing could be further from the truth.

By means of mergers and acquisitions, the largest corporations have reduced the "competition" to a shadow of what it used to be 40 to 50 years ago.

The bottom line: Competition has largely been eliminated and the largest corporations control all major national economies by effective control of national and international trade.

The alternative to reining in corporate domination of economies by competition was through government regulation of business.

The repeal of the Glass-Steagall Act removed effective regulation of banking and Wall Street, which led to the fraud and meltdown of the U.S. economy.

The passage of NAFTA led to effective deregulation of trade between the U.S., Canada, and Mexico with regard especially to environment and labor issues. This removes government influence on economic issues and gives enormous power to corporations

The proposed TPP trade agreement would eliminate government influence and regulatory abilities on trade with Asia, and has correctly been referred to as NAFTA on steroids.