
Here’s Part II of many. I last left off in the middle of his list of issues under the heading “Standing Up For Regular Families”. Next up, Trade.
Trade: According to Edwards, “our trade policy has been bad for working Americans.†Oh no, I feel the slow, cold creep of American isolationism creeping in. After outlining some problems with our economy and subtly implying that free trade is the cause, he describes the goals of his ‘smart trade’ policies. He wants to help workers and corporations by changing NAFTA and the WTO, building a global middle class (which is exactly what free trade is accomplishing), strengthening unions, and implementing his other economic policies mentioned under other issues.
Edwards would like trade agreements to be ‘regular’ family-oriented. He believes that the considerations of trade agreements should not be corporations or investors, but things like the agreements impact on jobs, wages, and prices. He fails to mention which of these are most important. For instance, off shoring our manufacturing base has resulted in loss of jobs and lower wages in that sector while greatly reducing prices. He talks about wage stagnation, but not the purchasing power difference in the dollar. I’d be curious to see those numbers as well.
Edwards wants to include labor protections, environmental standards, and currency manipulation restrictions in every trade deal. While this sounds great, what is often overlooked is that such requirements would preclude most, if not all, developing nations will be unable to enter into the agreement. This would result in higher prices for us and continued very low wages for the developing nations. The better plan is to insist on these requirements incrementally as the nation is able to meet them.
Working Families: This section is a rehash of elements of other issues John Edwards addresses. See his stance on poverty, tax reform/simplification, and trade.
Predatory Mortgages: This too was addressed in a previous issue. However, this one goes into more details. Edwards proposes regulating all lenders, not just banks, strengthen underwriting standards, and ban broker kickbacks. This would effectively end the practice of brokers creating excessive risk loans and then selling them off to third parties. He also wants to change bankruptcy laws to make it easier for filers to keep their homes. The last two goals he mentions is creating a fund for local non-profit agencies that provide foreclosure relief and urging the FDIC to mitigate foreclosures.
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