Category Archives: Globalization

Joe Firestone: Another Danger of the TPP: It Sacrifices Monetary Sovereignity

Yet another reason to hate the TPP.

U.S. Trade Rep Office Helpfully Explains that Only 28 Trade Unionists Were Murdered in Colombia Last Year

I said on the last post on the TPP that there was one more thing I wanted to point out. It was ably covered by Michael McAuliff of The Huffington Post, and it reminds me of one of those famed Monty Python “letters to the editor,” written after a sketch portraying British seamen as cannibals.

Dear Sir, I am glad to hear that your studio audience disapproves of the last skit as strongly as I. As a naval officer I abhor the implication that the Royal Navy is a haven for cannibalism. It is well known that we have the problem relatively under control, and that it is the RAF who now suffer the largest casualties in this area. And what do you think the Argylls ate in Aden. Arabs? Yours etc. Captain B.J. Smethwick in a white wine sauce with shallots, mushrooms and garlic.

More Craven Arguments Used to Sell TPP and Fast Track to Congress, With Mixed Results

I don’t know what’s occurring more rapidly, Congressional votes on Trade Promotion Authority (aka fast track) or the parade of half-truths and outright falsehoods being promoted to sell it. Committees in the House and Senate held meetings Wednesday on the bill. The Senate Finance Committee markup got off to a slow start when Bernie Sanders used an obscure Senate maneuver to delay the markup.

MSNBC’s Egalitarian Krystal Ball, and Her Husband Jonathan Dariyanani, Star of Numerous International Pump and Dumps

A shallow dive into the financial dealings of Krystal Ball of MSNBC and her husband Jonathan Dariyanani

The TPP: Toward Absolutist Capitalism

The TPP implies a form of absolute rule and enshrines capitalism as a principle of jurisprudence.

Belvedere Management: Massive Criminal Enterprise or Defamed Fund Manager?

David Marchant says Belvedere Management is a “Massive Criminal Enterprise”. Has he gone mad, or hit the investigative journo’s jackpot?

Dubious FX Broker CWM FX Claims Sports Celebrity Scalps, but Princess Anne Remains Unmolested

The CWM FX fraud bust, a murder, Princess Anne and some groping. It’s BAU in the world of sports sponsorship.

Joe Firestone: The New York Times Soft-Pedals the Dangers of the TPP

While the New York Times did a public service by joining Wikileaks in publishing a draft chapter of the TPP, the accompanying article is quite another matter. Joe Firestone has taken it upon himself to~~shred~~ analyze it. The sad reality is that the Times is never going to oppose neoliberalism in a serious way.

Thoughts About the Trans-Pacific Partnership

The leak of the investment chapter of the Trans-Pacific Partnership has confirmed that it’s as bad as critics said it was.

Gaius Publius: Ron Wyden, Progressives and the TPP

Are progressives willing to attack Ron Wyden on TPP?

Major American Allies Ignore U.S. Pleas and Join China’s Development Bank

China’s development bank is a salvo at America’s dollar-driven financial hegemony. The US has good reason to worry about its apparent appeal.

Is Momentum Building in Japan Towards Signing the TransPacific Partnership?

US sources claim that Japan is finally warming to the TransPacific Partnership. True or not?

Gaius Publius: Astroturf “Progressive” Support for the TPP – Meet “270 Solutions”

It’s become routine to expose some of the supposedly organic proposals that come out of the Tea Party as actually sponsored by the Koch Brothers and other big corporate interests. We didn’t want to leave Democrats out in the cold in the astroturfing game. Gaius Publius discusses one ecosystem: a consulting firm, “270 Strategies” and one of its phony creations, the Progressive Coalition for American Jobs.

Did Ireland’s 12.5 Percent Corporate Tax Rate Create the Celtic Tiger?

Offshore banking and tax haven expert Nicholas Shaxson has launched a new blog, Fools’ Gold, to look at issues of ‘competitiveness’ and so-called ‘competition’ between nations. We’ve often taken issue with that policy goal, since it gives precedence to crushing labor as a way of lowering product prices to stoke exports. This approach is dubious for anything other than small economies, since all countries cannot be net exporters. Undue focus on exports as a driver of growth results in increasing international friction, such as the currency wars that are underway now. Moreover, as we have discussed separately, trade liberalization has gone hand in hand with liberalization of capital flows, in no small measure due to US efforts to make the world safe for what were then US investment banks. Yet Carmen Reinhardt and Ken Rogoff pointed out in their study of financial crises, higher levels of international capital flows are associated with more frequent and severe financial crises.

In addition, lowering wage rates reduces domestic demand. In countries like the US, where the domestic economy is much larger than the export sector, lowering internal demand to stoke exports is misguided.

Here we look at a first case study, the real reasons behind the growth and meltdown of the famed Celtic tiger, Ireland.