Thursday, October 13, 2011

About Time.

The Free Trade deals that the Obama administration has been holding up since getting into office were finally passed.

Seriously this could have been done as soon as he was elected. It would not have pulled us out of the recession but it would not have hurt. The deal goes along with some sort of "re-training and financial aid" program for those who might lose jobs as a result. I'm still uncertain exactly how they determine that, but all three deals will be a net gain for the macroeconomy and a gain for three countries (Colombia, Panama, and South Korea) who we should have been dropping trade barriers with a long time ago.

"Free" (or at least more liberal- as in "more free") trade deals improve growth in economies that sorely need it. Growth is correlated with health, education, and welfare outcomes. Better health, education, and welfare outcomes lead to less tension, and less violence. That's Nobel Peace Prize material, Blagobamavich. So at the cost of improving lives, you held on to that "valuable f***ing thing" for three years. What'd Blagobamavich get in return? I guess his general weakness as a president in the face of opposition has advantages.

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