Ross Perot Was Right: NAFTA Was ‘A Giant Sucking Sound’;
Detroit: Politically Connected Vultures Hover Over the City’s Assets
Approaching the 20th anniversary of the North America Free Trade Agreement (NAFTA) on Jan. 1, 2014, Leid Stories does an audit on its central promise: Jobs for Americans. But Robert E. Scott, director of trade and manufacturing policy research at the Economic Policy Institute, says that NAFTA-linked trade deficits have cost the United States 682,900 jobs.
Ross Perot, the 1992 independent presidential candidate from Texas, was right: NAFTA was for the U.S. a “giant sucking sound.”
Abayomi Azikiwe, editor of the Pan-African Newswire and community organizer with the Workers World Party, reports on the latest developments in the city’s court-approved bankruptcy. Politically connected vultures are eyeing the city’s assets, he says, and several have already closed bargain-basement deals.