Finance Sector “free trade” with USA – 2008Posted: November 9, 2012
27 September, 2008
The Editor, The Dominion Post, Wellington
The timing of the suggestion by the US to begin talks for a so-called “free trade” agreement including the finance sector should be no surprize. The Bush administration has recently been encouraging other countries to bail out their own troubled financial sector with taxpayer monies at the same time they have proposed a huge bail out in the US. Having indicated in the past a desire to get their hands into the NZ finance sector, now they see more possible advantage in their time of peril.
While a so called “free trade” agreement in the best of times would always favour the large global corporations and should be avoided, it would be especially foolish for a NZ government to consider this now. Yet, with smiles on their faces their tongues are wagging like Odie the dog in the Garfield (cat) cartoon strip. (A National government would do the same.)
A sustainable economy will be based fundamentally on local goods and services, and a money system which emphasizes goods and services rather than ever more bizarre schemes to continue artificial growth in the money supply and in GDP like the pursuit of the sub-prime mortgage market in the US. Opening up our markets would be the worst thing we could do. At election time we need to find a political party which understands this.
Sincerely, Richard Keller