Bernanke's embrace of free trade is laudable...except for the collapsing dollar.
It behooves those who tout free trade to provide a COMPLETE explanation of the ultimate consequences to national and local economies.
If we had a "global currency" then free trade might be valid... But if free trade destroys national and local economies then it is worthless. And remember when free trade was concieved the world DID have a "global currency"...namely GOLD!
The notion of free trade started in the 1700's to thwart the landed aristorcracies that controlled the economies at that time...
And the notion that we "should buy" bananas from South America..and not Washington State is the real basis for the free trade argument... The idea that "certain areas" have a "natural advantage" is valid...as to banana plantations...
But if the only advantage China has is millions of cheap pauper laborers... THAT is not a valid free trade concept... Exploitation of cheap labor is not going to cause the global economy to progress...just the opposite really.
Free Trade has been adopted by International Capital to undermine workers rights in the developed economies of North America and Europe...
Ultimately those economies that are sucked into the Free Trade Fallacy will fail.
The US economy is already at an advanced stage of collapse on it's domestic side...this now has the pundits wondering if US corporations are really "tied to" the US economy afterall...!
SO MY ADVICE TO BERNANKE:
QUIT TOUTING THE BOOGUS DOCTRINE OF FREE TRADE...AND READ THE DISMAL HISTORY OF FREE TRADE WHICH EXPOSES IT FOR WHAT IT REALLY IS...
THEN, TELL US EXACTLY, AND IN GREAT DETAIL, HOW FREE TRADE IS GOING TO SAVE THE DOLLAR...
AND HOW YOU WILL PREVENT A COLLAPSE OF THE US ECONOMY CAUSED BY HIGH OIL PRICES AND A RAMPANT INFLATION INDUCED BY OUR FAILING CURRENCY...?
