by Dr. William Pierce.
“It has been interesting watching the collapse of the Asian economy during the last couple of months and its effect on the American economy. The people in America who have been hurt by what’s happening in Asia are those who are involved in exports of American products to Asia. The Asian countries whose currencies have fallen in value relative to the dollar are able to buy much less from American producers than before, and so many of our industries which are heavily dependent on exports are in trouble and are being forced to cut back their operations and lay off employees. It looks like 1998 will be a very bad year for most of these American export industries.
All of this is rather embarrassing for the New World Order crowd and for the trendy enthusiasts for a global economy. A year or so ago they were all telling us how much better off we’d be if we went along with all of their so-called “free trade” proposals. “Don’t worry if a few American jobs go overseas,” they said. “We’ll more than make up for it with the growth in our export industries.” Then after the Clinton administration pushed their proposals through, the globalists gave us one optimistic report after another on how our export industries were growing. This was all very deceptive, because despite their implications that so-called “free trade” was resulting in economic gains for us, it wasn’t. What we gained in export business was more than made up for by our losses in other industries that continued to lose out to China and other Asian and Latin American countries. The average American really hasn’t paid much attention to this because the overall American economy is still relatively strong, and overall unemployment here is still quite low.”
The rest is [Here]. (For the audio version, go [Here] and scroll down to 01-03-1998).