This is not free trade, it is tariff free trade
Asian governments decided to adjust the air-fuel mixture of the worlds’ great economic machinery to produce more manufacturing jobs for themselves. As America lost jobs, we stimulated our economy to try to create jobs. Bush tweaked another knob trying to get things working again. Obama is tweaking yet another knob.
The first knob tweaked was reduction of tariffs, a.k.a. free trade.
The second knob tweaked was the rate of exchange of the Yuan to the dollar as Asian governments tried to stimulate Asian production by pegging the Yuan to the dollar.
The third knob tweaked was by the Asian governments that tried to keep the exchange rate low by buying American real property and T bills.
The forth knob tweaked was tax reductions and deficit spending by the American government as a stimulus to create jobs lost by free trade.
The fifth knob tweaked was the interest rate in an effort to stimulate the slowing economy.
The sixth knob tweaked was to stimulate the economy by making it possible for everyone to buy their own home.
The seventh knob tweaked was to stimulate bank lending by giving banks money to make loans so people can buy homes and companies can produce.
This financial Armageddon has seven broken seals.