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Posts Tagged ‘Criminal enterprise

Security Implications and the Decline of U.S. Manufacturing

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Globalization, multi-national corporations, off-shore tax havens and governments willing to support them have created a global criminal enterprise designed to pillage nations and peoples for the profit of a very few.  De-industrialization of the United States was orchestrated for this purpose by the “enemies foreign and domestic” that we were warned about. Their plot has now become our national policy, and Congressional concerns will not be made public. - Claudia

Intelligence and the Decline of U.S. Manufacturing

March 28th, 2011           by Steven Aftergood FAS Secrecy News

The U.S. intelligence community will prepare a National Intelligence Estimate on the implications of the continuing decline in U.S. manufacturing capacity, said Rep. Jan Schakowsky (D-IL) citing recent news reports.

“Last month Forbes reported that the continued erosion of the U.S. manufacturing base has gotten so serious that the Director of National Intelligence has begun preparation of a National Intelligence Estimate… to assess the security implications of the decline of American manufacturing,” said Rep. Schakowsky, a member of the House Intelligence Committee.

“Our growing reliance on imports and lack of industrial infrastructure has become a national security concern,” said Rep. Schakowsky.  She spoke at a March 16 news conference (at 28:10) in opposition to the pending U.S.-Korea Free Trade Agreement.

The Forbes report referenced by Rep. Schakowsky was “Intelligence Community Fears U.S. Manufacturing Decline,” by Loren Thompson, February 14. The decision to prepare an intelligence estimate was first reported by Richard McCormack in “Intelligence Director Will Look at National Security Implications of U.S. Manufacturing Decline,” Manufacturing & Technology News, February 3.

Rep. Schakowsky told the newsletter Inside U.S. Trade (March 25) that she hopes a “declassified portion” of the NIE will be publicly released.

But according to the Congressional Research Service, that may be unlikely. “There seems to be an emerging consensus that publicly releasing NIEs, or even unclassified summaries, has limitations. Some of the nuances of classified intelligence judgments are lost and there are concerns that public release of an unclassified summary of a complicated situation does not effectively serve the legislative process.” See “Intelligence Estimates: How Useful to Congress?” (pdf), January 6, 2011.

“With 14 million Americans out of a job we should not be considering a trade deal that will ship additional jobs overseas,” said Rep. Schakowsky, referring to the U.S.-Korea Free Trade Agreement.

“Instead, we need to work to rebuild the American manufacturing sector, creating jobs at home. And instead of approving FTAs (free trade agreements) that will offshore more American jobs, we need to establish a trade policy that benefits American workers and the entire American economy,” she said.

The CRS (pdf) cited a study which concluded that overall changes in aggregate U.S. employment attributable to the US-Korea agreement “would be negligible given the much larger size of the U.S. economy compared to the South Korean economy. However, while some sectors, such as livestock producers, would experience increases in employment, others such as textile, wearing apparel, and electronic equipment manufacturers would be expected to experience declines in employment.” Accordingly, the “U.S. beef sector” supports the agreement, while some labor unions oppose it.

See “The Proposed U.S.-South Korea Free Trade Agreement (KORUS FTA): Provisions and Implications,” Congressional Research Service, March 1, 2011.  See also “Free Trade Agreements: Impact on U.S. Trade and Implications for U.S. Trade Policy,” January 6, 2011.

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For an in-depth look at how Globalization really works see:

Treasure Islands: Tax Havens and the Men Who Stole the World by Nicholas Shaxson

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What “Free Trade” Has Cost The World- globalization makes peons of us all

Nine stories the press is underreporting — fraud, fraud and more fraud

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Nieman Watchdog:  Questions the press should ask

William K. Black on Capitol Hill in April. (AP)

ASK THIS | October 20, 2010   Harvard University

From liars’ loans to liars’ liens, the financial and foreclosure crisis has been one big story of banks defrauding their customers — a vast criminal enterprise. You wouldn’t know it from a lot of the media coverage, though. Regulatory hero and criminologist William K. Black helps connect the dots.

By Dan Froomkin
froomkin@niemanwatchdog.org

If it wasn’t already blindingly obvious that pervasive fraud was at the heart of the financial crisis and the ensuing foreclosure catastrophe, you would think that the latest news — that banks have routinely been lying their heads off in the rush to kick homeowners off the properties they fraudulently induced them to buy in the first place — would pretty much clinch it.

And yet the mainstream media still by and large hasn’t connected the dots.

What we are seeing all around us are the continued effects of a vast criminal enterprise that has never been brought to account,  employing a process that, as University of Texas economist James Galbraith explains, involved the equivalent of counterfeiting, laundering and fencing.

So the person with the right expertise to lead us here is a criminologist — in particular William K. Black, one of the few effective regulators in recent history (during the savings and loan crisis of the late 1980s), a notorious knocker of heads, and currently professor at the University of Missouri-Kansas City and author of the book, “The Best Way to Rob a Bank Is to Own One”.

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