The U.S. Chamber of Commerce, a corporate member of the world-government-promoting Council on Foreign Relations (CFR), has launched a massive new lobbying effort called the USMCA Coalition to garner congressional and public support for the United States-Mexico-Canada Agreement integration scheme.
“Over the coming weeks and months, the USMCA Coalition will make the case for expeditious passage of the agreement to members of Congress, and it will work to educate the American public about the benefits of the new deal,” the Chamber of Commerce stated in its February 26 press release announcing the launch of the new coalition. “The effort will harness the advocacy strength of a broad membership of companies, trade associations, and chambers of commerce, including many that operate outside of Washington, D.C.”
The USMCA Coalition is composed over “200 companies and associations representing farmers and ranchers, manufacturers, service providers, and technology companies” led by the Chamber of Commerce. However, on the USMCA Coalition’s website only 84 “Company Members” were listed. Of those 84 company members listed, the following 14 are also corporate members of the CFR:
• Amgen, Inc.
• AT&T
• Chubb Limited
• Citigroup (Citi)
• General Electric
• Google
• IBM Corporation
• Johnson & Johnson
• JPMorgan Chase & Co.
• Mastercard
• MetLife
• Microsoft
• Pfizer Inc.
• Toyota Motor Company
Read the entire article
Showing posts with label Finance. Show all posts
Showing posts with label Finance. Show all posts
Tuesday, March 5, 2019
Tuesday, October 2, 2018
Wednesday, December 27, 2017
Wednesday, September 13, 2017
National Debt Surpasses $20 Trillion for the First Time in U.S. History
On September 8, the same day that President Trump signed a bill into law that suspended the debt ceiling and enabled unlimited federal borrowing, the national debt reached and exceeded $20 trillion for the first time in U.S. history.
It’s not as though it was much better before Friday, however, as the debt ceiling has been sitting comfortably at approximately $19.8 trillion since March. However, as a result of President Trump’s deal with the Democrats that raised the debt ceiling and also provided federal aid to the victims of the recent hurricanes, the Treasury Department was able to begin immediately borrowing money following months of being forced to use “extraordinary measures” to avoid exceeding the debt ceiling.
Under President Trump’s deal with the Democrats, the federal government will not have any spending cap until December 8, when a new debt ceiling will be in put in effect.
President Trump taunted Republicans following his deal with the Democrats with a tweet in which he ultimately blamed the GOP for forcing his hand and compelling him to reach across the aisle. “Republicans, sorry, but I've been hearing about Repeal & Replace for 7 years, didn't happen! Even worse, the Senate Filibuster Rule will never allow the Republicans to pass even great legislation. 8 Dems control – will rarely get 60 (vs. 51) votes. It is a Repub Death Wish...”
Read the entire article
It’s not as though it was much better before Friday, however, as the debt ceiling has been sitting comfortably at approximately $19.8 trillion since March. However, as a result of President Trump’s deal with the Democrats that raised the debt ceiling and also provided federal aid to the victims of the recent hurricanes, the Treasury Department was able to begin immediately borrowing money following months of being forced to use “extraordinary measures” to avoid exceeding the debt ceiling.
Under President Trump’s deal with the Democrats, the federal government will not have any spending cap until December 8, when a new debt ceiling will be in put in effect.
President Trump taunted Republicans following his deal with the Democrats with a tweet in which he ultimately blamed the GOP for forcing his hand and compelling him to reach across the aisle. “Republicans, sorry, but I've been hearing about Repeal & Replace for 7 years, didn't happen! Even worse, the Senate Filibuster Rule will never allow the Republicans to pass even great legislation. 8 Dems control – will rarely get 60 (vs. 51) votes. It is a Repub Death Wish...”
Read the entire article
Monday, February 8, 2016
A New Global Financial Cold War
A nightmare scenario of U.S. geopolitical strategists is coming true: foreign independence from U.S.-centered financial and diplomatic control. China and Russia are investing in neighboring economies on terms that cement Eurasian integration on the basis of financing in their own currencies and favoring their own exports. They also have created the Shanghai Cooperation Organization (SCO) as an alternative military alliance to NATO.[1] And the Asian Infrastructure Investment Bank (AIIB) threatens to replace the IMF and World Bank tandem in which the United States holds unique veto power.
More than just a disparity of voting rights in the IMF and World Bank is at stake. At issue is a philosophy of development. U.S. and other foreign investment in infrastructure (or buyouts and takeovers on credit) adds interest rates and other financial charges to the cost structure, while charging prices as high as the market can bear (think of Carlos Slim’s telephone monopoly in Mexico, or the high costs of America’s health care system), and making their profits and monopoly rents tax-exempt by paying them out as interest.
By contrast, government-owned infrastructure provides basic services at low cost, on a subsidized basis, or freely. That is what has made the United States, Germany and other industrial lead nations so competitive over the past few centuries. But this positive role of government is no longer possible under World Bank/IMF policy. The U.S. promotion of neoliberalism and austerity is a major reason propelling China, Russia and other nations out of the U.S. diplomatic and banking orbit.
On December 3, 2015, Prime Minister Putin proposed that Russia “and other Eurasian Economic Union countries should kick-off consultations with members of the SCO and the Association of Southeast Asian Nations (ASEAN) on a possible economic partnership.”[2] Russia also is seeking to build pipelines to Europe through friendly secular countries instead of Sunni jihadist U.S.-backed countries locked into America’s increasingly confrontational orbit.
Read the entire article
More than just a disparity of voting rights in the IMF and World Bank is at stake. At issue is a philosophy of development. U.S. and other foreign investment in infrastructure (or buyouts and takeovers on credit) adds interest rates and other financial charges to the cost structure, while charging prices as high as the market can bear (think of Carlos Slim’s telephone monopoly in Mexico, or the high costs of America’s health care system), and making their profits and monopoly rents tax-exempt by paying them out as interest.
By contrast, government-owned infrastructure provides basic services at low cost, on a subsidized basis, or freely. That is what has made the United States, Germany and other industrial lead nations so competitive over the past few centuries. But this positive role of government is no longer possible under World Bank/IMF policy. The U.S. promotion of neoliberalism and austerity is a major reason propelling China, Russia and other nations out of the U.S. diplomatic and banking orbit.
On December 3, 2015, Prime Minister Putin proposed that Russia “and other Eurasian Economic Union countries should kick-off consultations with members of the SCO and the Association of Southeast Asian Nations (ASEAN) on a possible economic partnership.”[2] Russia also is seeking to build pipelines to Europe through friendly secular countries instead of Sunni jihadist U.S.-backed countries locked into America’s increasingly confrontational orbit.
Read the entire article
Subscribe to:
Posts (Atom)