One of the major purported selling points for the Trans-Pacific Partnership (TPP) is a supposed increase in new jobs as a result of the controversial trade deal. The deal involves 12 nations, including the U.S., Australia, Canada, New Zealand, Japan, Malaysia and more. However, two recent economic reports have contradicted the claims that jobs will increase. They have shown that, more than likely, the deal will lead to a loss of jobs
First there was a World Bank report that predicted that TPP would produce negligible boosts to the economies of the U.S., Australia, and Canada. TechDirt writes:
This study was followed up by a review from Jerome Capaldo and Alex Izurieta at Tufts University. In a study titled “Trading Down: Unemployment, Inequality and Other Risks of the Trans-Pacific Partnership Agreement,” Capaldo and Izurieta claim their study uses a more realistic model than past analyses. Specifically, the researchers state that their model incorporates effects on employment that were previously excluded from TPP calculations.
Their study found that economic growth is likely to be limited — and negative — for some countries, including the United States. The researchers also found the TPP would probably lead to increased unemployment and inequality. Capaldo and Izurieta explained:
The standard model assumes full employment and invariant income distribution, ruling out the main risks of trade and financial liberalization. Subject to these assumptions, it finds positive effects on growth. An important question, therefore, is how this conclusion changes if those assumptions are dropped.
Concerning predictions of actual job losses or gains, the researchers write, “TPP would lead to employment losses in all countries, with a total of 771,000 lost jobs. The United States would be the hardest hit, with a loss of 448,000 jobs.”
Finally, the researchers draw harrowing conclusions about the end result of the TPP.
Globally, the TPP favors competition on labor costs and remuneration of capital. Depending on the policy choices in non-TPP countries, this may accelerate the global race to the bottom, increasing downward pressure on labor incomes in a quest for ever more elusive trade gains.
As practically the entire world seems to be nearing the end of its run financially, many people are beginning to wonder how much longer America has before our own teetering house of cards finally falls. Nobody can say for sure how it will all play out, of course, but there are a number of potential scenarios that could act as trigger events to bring about a cataclysmic economic collapse here in the United States, in the very near future.
According to Jim Willie from GoldenJackass.com, the following imminent events could predicate a complete financial breakdown, unlike anything ever before seen in America:
1) Plummeting oil prices. As I’m writing this, oil prices have already dipped below $30 a barrel, which Willie suggests is a major indicator of impending financial doom.
2) Bank failures due to oil and gas hedge expiration. Many companies locked in higher prices for oil sales in 2014, but not indefinitely. Declining revenues from deflating oil and gas prices could trigger a string of bank failures, leading to a collapse.
3) Default from emerging market debt. Such debt currently clocks in at nearly $20 trillion, and experts predict a major default in 2016.
4) Saudi Arabia concedes to Chinese oil sales with renminbi (RMB) currency. With Russia now accepting renminbi currency as payments for oil, the U.S. dollar is further sliding away from being the world’s reserve currency.
5) China and Russia inaugurate the Gold Trade Note as currency. The Gold Trade Note is quickly replacing the dollar as the currency of choice among BRICS nations.
6) Failure of southern European banks leads to ‘PIGS’ fit. Times are tough in southern Europe, with banking system collapses threatening to unleash financial mayhem.
7) Turkey leaves NATO after suffering military coup to oust Erdogan. America’s duplicitous support of Turkey following the recent downing of an anti-ISIL Russian aircraft, suggests an imminent military coup, and Turkey’s potential exit from NATO.
8) Deutsche Bank failure, unsuccessful restructuring, leading to derivative incidents. One of the world’s leading financial providers, Deutsche Bank, is in trouble. And if this overly leveraged financial behemoth collapses, it could cascade as a domino effect of bank failures throughout the world.
9) U.S. Fed hike rate causes immediate derivatives crisis. The central banking scam known as the Federal Reserve is in its last throes. And if this failing private institution continues messing with interest rates, a derivatives crisis unspeakably worse than the one that occurred in 2008 could soon unfold.
10) United States, NATO, British Crown and Vatican exposed as narcotics agents. The role of Western governments and Roman Catholicism in trafficking narcotics under the guise of policing them is gaining global attention as fact rather than conspiracy theory. And the economic implications of this are unprecedented.
11) Evidence put before United Nations on U.S.-U.K.-Israel role in fake ISIS “terror.” More people are waking up to the fact that “terrorism” is often a government invention used to strip citizens of their rights and enslave them. And the alleged terrorist group ISIS is no different, as evidence continues to emerge showing that the United States, in conjunction with the British Crown and Israel, is staging fake ISIS terrorism to push a globalist agenda.
12) Assassination of one or more Western political leaders. Should certain critical information finally break the mainstream, there’s a good chance that leaders in the West might be targeted for assassination, creating further turmoil, and leading to an economic meltdown.
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