Yves here. I hope those of you who are in countries being browbeaten to sign the Trans-Pacific Partnership or the TransAtlantic Trade and Investment Partnership will circulate this post widely.
Read more...Beware of conservatives arguing from a moral position, at least when it comes to proposals that they claim will help the poor, like open borders.
Read more...Obama now has another hurdle to overcome if he is to get his toxic trade deals, the TransPacific Partnership and the TransAtlantic Trade and Investment Partnership, passed in time for him to take credit for handing the keys to America over to multinational corporations and turning out the lights.
Read more...This post contains several troubling examples of how investors have used provisions in existing trade deals to attack the laws of nations that attempt to enforce environmental, labor, and consumer protections, or simply discipline bad-faith behavior.
Read more...As anticipated, citizens in the nations that the US has been pressuring to join the toxic TransPacific partnership are taking note of stiffening opposition here.
Read more...As Bernanke is about to take leave of office, attacks on his policies are becoming louder, thanks to financial markets turmoil resulting from the Bernanke/Geithner approach to the crisis: do whatever it takes to restore as much of status quo ante as possible. The problem, of course, is that status quo ante is what got us in this mess in the first place.
Read more...Obama made yet another pitch in State of the Union Address for his gimmies to multinationals known as the TransPacific Partnership and the TransAtlantic Trade and Investment Partnership. Today that idea went down in flames, at least as far as getting the deals done this year are concerned.
Read more...Yves here. This article provide perspective on Obama’s unseemly anxiety to push through the toxic trade deal known as the TransPacific Partnership. the TPP is that it is a crucial part of Obama’s “pivot to Asia” strategy. One of its aims is to isolate China by creating a trade bloc that excludes the Middle Kingdom. The article below helps explain why non-military means of reinforcing US hegemony are particularly important now.
Read more...Yves here. It’s been frustrating to see orthodox economists continue to invoke the Bernanke “saving glut hypothesis” as a significant driver of the crisis. That view was rebutted in gory detail in a 2010 paper by Claudio Borio and Piti Disyatat of the BIS, “Global imbalances and the financial crisis: Link or no link?” (see Andrew Dittmer’s summary here). Not surprisingly, the orthodoxy has chosen to ignore this paper.
A new working paper by Junji Tokunaga and Gerald Epstein, “The Endogenous Finance of Global Dollar-Based Financial Fragility in the 2000s: A Minskian Approach,” builds on the perspective of the Borio/Disyatat paper. Readers should find this summary to be a straightforward, persuasive discussion of an important topic.
Read more...China faces the first big test of its shadow banking system, in the form of a pending default. How is it likely to fare?
Read more...By Clive, a regular Naked Capitalism commenter and self-confessed Japan-o-phile
The headline, in a one liner, is what this article is saying. You may have to take my word for it if you’re not a Japanese reader, but read on to find out why I hope you can.
Read more...Wikileaks has thrown yet another wrench in the negotiations over the sellout-to-multinationals-masquerading-as-trade-deal otherwise called the Trans-Pacific Partnership.
Read more...As we discussed earlier, even though there’s abundant evidence that the Administration’s plans to push through its trade deals, the Trans Pacific Partnership and the Transstlantic Trade and Investment Partnership, are in trouble, the official messaging has been to keep pretending that the pacts are still moving forward smartly.
Read more...We’ve both written and spoken about the wildly mislabeled “trade” deals that the Obama Administration is still trying hard to conclude, despite its abject failure to meet an arbitrary deadline of year end 2013.
Read more...Mexico is doing badly at feeding its own people, thanks to 20 years of NAFTA.
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