Thom's blog - Monday November 8th, 2010
You need to know this about President Obama’s trip to Southeast Asia. He says it's an effort to open up markets to India – the world’s largest democracy – and for the Wal-Mart executives with him, that's true. They want to sell more stuff made in China in India in their retail stores, and are frustrated that Indian law only allows one company to own two retail stores. They're using Obama's prestige to get that law blown up. Additionally, Obama is there selling the only things we still make in the US - military hardware and airplanes. He says that will create as many as 54,000 jobs in the US, because, he says, the Indian consumer market is so large. But we no longer make consumer goods in the US! Meanwhile, the President is also bringing with him more than 200 business leaders – including leaders from Wal Mart. As Wal Mart CEO Michael Duke points – more than 3 million jobs can be created in India if he can get their laws changed. That’s 3 millions jobs in India – not the US. Likewise, Honeywell already operates a facility in India employing 11,000 low wage engineers and scientists. Honeywell CEO David Cote says his company has moved American engineering jobs to India because India has "superior engineering". What they really have is cheap labor. Obama's simply continuing the insane free trade policies of Reagan, both Bushes, and Clinton. And, as long as they continue – your jobs will continue to vanish overseas.