As the above chart shows, Free Trade has been a huge boon for the wealthiest of the wealthy. Its a disaster for the rest of us.
“In the week before Valentine’s Day, United Technologies expressed its love for its devoted Indiana employees, workers whose labor had kept the corporation profitable, by informing 2,100 of them at two facilities that it was shipping their factories, their jobs, their communities’ resources to Mexico.
Three days later, 1,336 workers at Philadelphia’s largest remaining manufacturer, Cardone, learned that company planned to throw them out too and build brake calipers in Mexico instead. Two weeks earlier, a Grand Rapids, Mich., company called Dematic did the same thing to its 300 workers.
“The president of Carrier, owned by United Technologies, gathered the Indianapolis factory employees, skilled workers who earn an average of $20 an hour, and informed them that the corporation planned to kick them to the curb but expected them to perform to the highest standards until Carrier opened a new plant in Monterrey, Mexico, where workers will be paid $3 an hour.
Carrier President Chris Nelson told the group, “This was an extremely difficult decision.”
Such difficulties for poor, poor United Technologies! It was making a nice profit at its Indianapolis and Huntington factories. But it was not the big fat profit it could pocket by paying Mexican workers a mere $3 an hour, providing $3 an hour in health or pension benefits, and doing it all in the nation with the longest work weeks among the 36 countries in the Organization for Economic Co-operation and Development.”
As the Secretary of State, Hillary Clinton sought to build on her husband’s NAFTA gains by writing the Trans-Pacific Partnership:
“the TPP would worsen the situation because it would give corporations like United Technologies the option of moving to places like Vietnam where they could pay trafficked workers and child laborers $1 an hour. Or less.
Just like with NAFTA, there’s nothing enforceable in the TPP that would stop the labor abuses. It would facilitate corporations forcing workers from Indianapolis, Philadelphia and Monterrey, Mexico, into competition with 14-year-olds laboring 60-hour-weeks for $1-an-hour in Malaysia.”
No wonder that Hillary Clinton has over 1 billion dollars in her foundation. Screwing over American workers comes with a hefty price-tag, and a great amount of risk.
The Clinton Foundation has actually grown by over 1000% since Obama became president. In 2003, it reported a value of less than 100 million dollars.(Source) Every American should become Secretary of State over Trade Agreements, it seems to be the only place left where you can make a decent buck.