George Graham

A Romney Presidency Could be Catastrophic

This is not your grandfather’s world. It is drastically different, and one of the things that have changed is the concept of independent national economies. Mitt Romney must know this. But he panders to deluded Americans who believe they would prosper in a “free-market” national economy.

Some people prosper in the global market. Some don’t. Apple is one of the big winners. The company made 11.2 billion US dollars in the first three months of this year – 94 percent more than in the same quarter of last year. And I understand the company has a cash reserve of $150 billion. That’s more than the annual budget of many countries.  

Apparently this is just the beginning. Apple is just getting started in China.

Pundits pointed out on TV this morning that IPhone sales are soaring because of the growth of a global middle class.  Free traders have maintained all along that American exporters would reap huge rewards from a global market. What they’ve neglected to mention is that these profits come at a cost – America loses jobs as manufacturing moves overseas and the standard of living in this country declines as living standards rise in other countries.

It seems only fair that the United States Government should take steps to soften the blow on America’s middle class. Without government intervention, the lucky few inevitably become incredibly rich and the rest of us slide into abysmal poverty. (Of course, this is just what the rich want. Big banks (such as Goldman Sachs) are manipulating the global economy in an obvious crusade  to destroy social programs. And Europe’s economy is in turmoil as a result.)

If America had an independent economy, some of the profits from companies like Apple would “trickle down” to the American people as the company invested in more production. But the bulk of Apple’s growth will take place in China, not America. It’s the Chinese who will benefit most from any “trickling” that occurs.

The mass of the American people will benefit from the success of companies like Apple only if the United States Government steps in to ensure that some of the profits go to social programs – education, retraining, welfare, Social Security, Medicare and universal health care, for example.

But Romney and his fellow-Republicans propose to do the opposite. Their plan is to raise taxes on the poor, slash social programs and give corporations and the rich huge tax breaks. Romney also proposes massive increases in militaryspending.

I am not sure what Romney would accomplish by this massive military build-up. Is he planning to use force to take more of the world’s wealth for America? This has been done in the past as America’s military might was used to back up commercial colonization of  primitive countries, but the world is different now. As Americans discovered to their chagrin, relatively small countries like Iraq and Afghanistan can be stubborn foes. And Iran – even North Korea – would prove even more formidable. They are both armed to the teeth.

Furthermore, Russia would not tolerate an American assault onIran, and China would become involved in any conflict with North Korea. If Romney has his way, unimaginable devastation could ensue. Any possibility of “better times” – as he is promising – would be out of the question.

It seems to me that – for most of us – a Mitt Romney America would be a terrible place to live.

And a Mitt Romney world would be hell on earth.

 Click here to read about Apple’s big profits.

About the author

gwgraeme

I am a Jamaican-born writer who has lived and worked in Canada and the United States. I live in Lakeland, Florida with my wife, Sandra, our three cats and two dogs. I like to play golf and enjoy our garden, even though it's a lot of work. Since retiring from newspaper reporting I've written a few books. I also write a monthly column for Jamaicans.com