There's much to figure out in the new
'free trade' deal (pdf) that Obama is eager to ink on behalf of his hoped-for 2012 campaign contributors, but Jane Hamsher points us to this:
The Korea FTA text contains the extreme investor rights that promote offshoring; the private enforcement of those rights that had led to serial attacks on domestic environmental, health, and other safeguards; a ban on Buy America; limits on financial service regulation ( recall, this is a 2007 pre-crisis text with all of the crazy extreme dereg language of past Bush FTAs) and more of the most damaging NAFTA-style provisions Obama promised to fix.
"Extreme investor rights" — has a nice ESPN ring to it; extreme sports for the golf-and-Viagra crowd.
That's extreme
foreign investor rights, by the way. Obama on the
campaign trail:
"With regards to provisions in several FTAs that give foreign investors the right to sue governments directly in foreign tribunals, I will ensure that foreign investor rights are strictly limited and will fully exempt any law or regulation written to protect public safety or promote the public interest. And I will never agree to granting foreign investors any rights in the U.S. greater than those of Americans."
Now, not so much.
Jane adds (my emphasis):
The trade deal is seen as a sop to Korea so the US can maintain a military presence in the region. ... Hillary Clinton has been pushing hard for the agreement, and its ratification is the fondest wish of the Chamber of Commerce. ... It would be a truly horrific blow to whatever is left of American manufacturing at a time when unemployment is rampant. But from a political standpoint, fighting for another so-called “free trade” agreement right now has got to represent some kind of death wish for the Democratic party. I don’t have any other way to explain it.
A nice tight package of things to keep in mind:
1. To keep our 1950s garrison in Korea, we hand over to Korean companies the right to sue American state and local governments (among others) in NAFTA-style trade tribunals.
2. Hillary Clinton, the Dem most like to step forward (reluctantly, I'm sure) if Obama falters in 2012, loves this Chamber of Commerce wet dream of a deal.
3. Which puts Obama, Clinton, and the whole Democratic establishment on the opposite side of anyone who's given two thoughts to whether this is good for actual Americans. Citizens who understand these agreements hate them.
Jane calls this deal a "death wish." Me, I think it's just those pesky
Puppet strings. Like
this one. Or
this one.
What you can do: Join any resistance you can; there will be many. And there's a terrific opportunity to enlist the Teabag Brigade against this one. Go for it. These trade deals have to be stopped; and with effort and education they can be. As
Jane pointed out, anti-outsource and anti-NAFTA messaging is a huge electoral winner.
GP
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