Senator Durbin Joins Call To Stop TPP Fast Track

By: Monday February 17, 2014 11:51 am

Senator Dick Durbin has joined Senate Majority Leader Harry Reid in opposing fast track trade authority for the Transpacific Partnership (TPP) as well as the Transatlantic Trade and Investment Partnership (TTIP). Durbin’s opposition could signal the beginning of the end for the agreements as now prominent Democratic leaders in both the Senate and House are [...]

Majority Leader Reid Pushes Back On President Obama’s Push For TPP And TTIP

By: Thursday January 30, 2014 10:57 am

Majority Leader Harry Reid threw cold water on fast tracking the Trans-Pacific Partnership (TPP) despite a call to do so in President Obama’s State of the Union speech. Numerous Democrats in Congress have publicly objected to fast tracking TPP given the many controversial aspects contained in the bill including removing decision making authority from sovereign [...]

Senators Write Letter To Harry Reid Opposing Fast Track Authority For TPP and TTIP

By: Thursday January 16, 2014 9:55 am

According to a letter obtained by Firedoglake, 12 United States Senators have written a letter to Senate Majority Leader Harry Reid to convey their opposition to the “prospect of renewing Trade Promotion Authority” or fast track authority. Specifically mentioned in the context of that opposition is the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment [...]

Trans-Pacific Partnership Will Remove What’s Left Of American Democracy

By: Tuesday August 20, 2013 8:30 am

If you think America is a corporate free fire zone now, wait until the Trans-Pacific Partnership (TPP) passes. The trade deal is essentially the kill shot for what remains of legal democratic accountability in the United States and will allow the rootless global elite and their transnational corporations to dictate the daily lives and laws [...]

On Taxes, Redistribution, and the Need to Focus on Pre-Tax Inequality

By: Friday November 30, 2012 8:30 am

Ryan Grim has some backstory on the White House’s aggressive opening bid last night. It turns out that President Obama offered this same deal to Republicans earlier this month at the White House. Republicans expected that Tim Geithner would bring a softer offer with him, part of the trend verified by recent history of the [...]

Treasury Declines to Label China a Currency Manipulator

By: Wednesday November 28, 2012 7:45 am

The Treasury Department once again declined to label China a currency manipulator, despite arguing that the yuan “remains significantly undervalued” and should rise further. They basically patted themselves on the back and tried to show that their policy of engagement with China has worked to this point. China “has substantially reduced the level of official [...]

Yes, Overvalued Currency Remains a Huge Economic Problem for the US

By: Tuesday October 30, 2012 11:41 am

After Mitt Romney put the issue of Chinese currency manipulation into the Presidential race, economists and analysts rushed to explain that such manipulation isn’t happening, and anyway Romney is dishonest, and his policies, if carried out, would start a trade war. I responded that, even if you accept that China has stopped manipulating their currency, [...]

GDP Increased to 2.0% in the Third Quarter of 2012

By: Friday October 26, 2012 7:01 am

The Bureau of Economic Analysis rates 3rd quarter GDP with a preliminary estimate of 2.0%, an increase from the previous quarter but not the kind of economic growth normally associated with reducing the unemployment rate in rapid fashion. GDP in the second quarter increased 1.3%, so this represents an acceleration on growth, albeit a modest [...]

Five Other Facts You Need to Know About Currency Manipulation

By: Monday October 22, 2012 1:28 pm

One of the sections in tonight’s foreign policy debate concerns China, which means that the issue of Chinese trade will come up. In a very real sense, this will trigger a fake debate about the manipulation of Chinese currency. I say fake because, while Mitt Romney will demand such a designation, he has no interest [...]

Commerce Department Puts Tariffs on Chinese Solar Panels, But Loophole May Render That Irrelevant

By: Thursday October 11, 2012 10:45 am

The Commerce Department imposed slightly lower but still robust tariffs on Chinese solar panels, alleging that subsidies undercut US prices and violate international trade laws. The Commerce Department issued its final ruling Wednesday in a long-simmering trade dispute with China, imposing tariffs ranging from about 24 to nearly 36 percent on most solar panels imported [...]

Global Slowdown Places Even More Emphasis on Fiscal Stimulus

By: Tuesday October 9, 2012 8:30 am

I think most Americans have the sense that we’re stumbling through the fourth year of a financial crisis with a low-growth recovery. What is less appreciated is the way in which America is actually performing the best among almost all nations at this point. We’re mired in a global slowdown, one with knock-on effects for [...]

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