Democratic Party Hollows Out Middle-Class With Trade Agreements

 I moved to North Carolina in the early 90’s right after NAFTA was passed by the Clinton Administration.  Ross Perot’s prophecy soon came to pass: a giant sucking sound of manufacturing headed south to Mexico.  It didn’t take long for the textile and furniture manufacturers to pack their bags.  Middle-class workers found themselves out of a job and their cities turned into ghost towns. 

Liberal rags estimate the number of lost jobs in North Carolina at over 348,000 since the implementation of NAFTA.  Companies such as Dell, Victaulic, Arrow International, and Jobst are scheduled to close their operations and follow suit.

 

The masterminds in the Clinton Administration assured us that trade would balance out and we would experience growth.  This turned out to be another pie-in-the-sky fabrication.  The U.S. trade imbalance has been steadily negative along with job creation.  The United States as a whole has lost 29 million jobs since the implementation of NAFTA and other disastrous trade deals. 

Common sense dictates that a first-world country cannot compete with third-world hellholes especially when their government nurtures a hostile environment toward private industry.  The Obama administration has created a record amount of regulations.  Last year, the federal registrar recorded 81,611 regulations.  That doesn’t include executive orders and memorandums from a president that looks upon free enterprise as enemy territory.   Federal regulations cost Americans nearly $2 trillion in the cost of goods and services, and that doesn’t include loss of jobs.

The Democratic Party professes its loyalty to the middle-class while hollowing it out.  We’re expected to accept this new normal they’ve created.  You’d think Americans would wake up after awhile.

Source:

http://www.businessinsider.com/looks-like-ross-perot-was-right-about-the-giant-sucking-sound-2011-2

http://www.newsobserver.com/news/politics-government/article91050587.html

http://thehill.com/regulation/administration/264456-2015-was-record-year-for-federal-regulation-group-says

http://freebeacon.com/issues/report-cost-of-federal-regulation-reached-1-88-trillion-in-2014/

Study Proves Democrats Destroyed the Economy

Here’s a study you won’t find in the op-ed section of your local liberal rag.  You can be damn sure of that. 

 A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left's race-baiting attacks on the housing market (the Community Reinvestment Act--enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

The study painstakingly sorted through failed home loans that caused the housing market collapse and identified an overwhelming connection between them and CRA mortgages.

Again, let's review:

-President Bush went to Congress repeatedly for years warning them that Fannie Mae and Freddie Mac were going to destroy the economy (17 times in 2008 alone). Democrats continuously ignored him, shut down his proposals along party lines and continued raiding the institutions for campaign contributions on their way down.

But what you will find are reports on how these financial institutions screwed over the “little guy.”  The Charlotte Observer reported a record amount of fines collected by the courts.  Most of it due to the federal government’s manufactured housing bubble.

The U.S. Attorney’s Office in Charlotte and the Western District of North Carolina obtained record collections – more than $5 billion – in civil and criminal actions in 2012.

The $5.05 billion was the fourth highest collection amount among the nation’s 94 U.S. Attorney’s Offices. Much of the money, federal prosecutors said, came from a $25 billion settlement with the nation’s five largest mortgage servicers, including Bank of America and Wells Fargo, to resolve allegations of abuse and fraud in mortgage loan servicing and foreclosures.

The $5 billion in collections represents a huge increase over the 2011 budget year, when the U.S. Attorney’s Office in Charlotte and the Western District of North Carolina collected more than $13.5 million in civil and criminal actions.

The vast majority of the 2012 money – about $5.04 billion – was collected in civil actions. More than $11.3 million was collected in criminal and civil forfeitures and more than $4.4 million was collected in criminal actions.

Nearly $6.4 million was paid to the federal court for distribution to victims of crimes, including individuals, companies and government agencies.

Could those government agencies include Fannie Mae and Freddie Mac?  Because the Democrats would have us believe they were the biggest victim of all.

Source: http://www.charlotteobserver.com/2012/12/27/3748011/western-nc-prosecutors-courts.html#storylink=cpy

 

http://www.examiner.com/article/new-study-confirms-economy-was-destroyed-by-democrat-policies

Americans Lose 40% of Their Wealth in Recession

What do you get, when you cross loose monetary policy from the Federal Reserve with government sanctioned success? A big ass bubble! And that’s exactly what happened to us in 2008. The cards came crashing down, and all the players responsible blamed everyone but themselves for this disaster. Here is a report from one of the instigators of our economic crisis, as reported by the Washington Post:

The recent recession wiped out nearly two decades of Americans’ wealth, according to government data released Monday, with ­middle-class families bearing the brunt of the decline.

The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992.

The data represent one of the most detailed looks at how the economic downturn altered the landscape of family finance. Over a span of three years, Americans watched progress that took almost a generation to accumulate evaporate. The promise of retirement built on the inevitable rise of the stock market proved illusory for most. Homeownership, once heralded as a pathway to wealth, became an albatross.

Americans are back to 1992 status? That’s weird. Wasn’t it in 1993, when Bill Clinton and the Democrats started their housing initiatives? Isn’t that around the time James Johnson of Fannie Mae fame began his schemes with that G.S.E.? Could this just be a coincidence?

Source: http://www.washingtonpost.com/business/economy/fed-americans-wealth-dropped-40-percent/2012/06/11/gJQAlIsCVV_story.html