Wednesday, July 31, 2019

The TPP only serves bankers and dock workers. Offshorers might be especially happy as well.

I thought the USA has had quite enough of the working poor.

The US trade deficit widened to USD 55.5 billion in May 2019 from a revised USD 51.2 billion in the previous month and compared to market expectations of USD 54.0 billion. That was the largest trade gap since December. Exports from the US rose USD 4.2 billion from the previous month to USD 210.6 billion in May.

The TPP makes that worse. The USA is already losing it's manufacturing base with the huge shifts occurring with GM. GM has a trickle down effect that hasn't set in yet.

Add to that a huge influx of foreign products coming through the docks and the American middle class disappears. Maybe that is really what Wall Street wants, they seem to love the impoverished labor of China.