August 19, 2015
Free the American 320 Million

This is the issue which ought to lie at the heart of the upcoming presidential race but won’t. That Obama set out to follow the same disastrous “free trade” policies as Reagan, the Bushes and Clinton is beyond my comprehension. If Hillary lacks the guts to cut free from her husband and her corporate backers on TPP, the rest of us will be well and truly fornicated.

When Ronald Reagan came into office, as the result of 190 years of Hamilton’s plan, the United States was the world’s largest importer of raw materials; the world’s largest exporter of finished, manufactured goods; and the world’s largest creditor.

After 34 years of Reaganomics, we’ve completely flipped this upside down. We’ve become the world’s largest exporter of raw materials, the world’s largest importer of finished goods, and the world’s largest debtor. We now export raw materials to China, and buy from them manufactured goods. And we borrow from them to do it. Our trade debt right now stands at over $11 trillion, and it’s the principal reason why one-seventh of all assets in the United States are foreign-owned.


Posted by Jerome Doolittle at August 19, 2015 03:26 PM
Email this entry to:

Your email address:

Message (optional):


Alternet isn't a site I check very often, so I'd have probably missed this essay except for your link. Thank you for that!

When I'm grinding through a hellish presidency like the one we have now or the previous one, I tend to think in terms of "worst". But looking at the longer view, Ronald Reagan was the absolute worst president of my lifetime, for he turned the long slow decline of the US into a terrifying swift one. The lazy old puppet gave free rein to the neocons, and appointed Alan Greenspan to the Fed. That latter individual did more damage to the US than any other single person I know of.

Posted by: Zachary Smith on August 20, 2015 12:45 AM

Ronald Reagan was the worst American ever.

Posted by: Racer X on August 23, 2015 8:17 PM
Post a comment

Email Address:



Remember info?