Just imagine a present-day America where the North American and Central America free trade agreements didn’t exist. Just imagine another 60,000 factories and manufacturing plants, and 5 million more jobs offering a secure career path.
Just imagine if the Gramm-Leach-Bliley Act hadn’t been passed into law, and Wall Street wasn’t deregulated. Just imagine an America without the Troubled Asset Relief Proram or quantitative easing or Cash for Trash. Just imagine the national debt minus trillions of dollars. Just imagine getting a higher return on savings accounts or less concern about individual retirement accounts, 401(k)s or mutual funds. Just imagine a more secure financial future where the short selling of securities that exacerbated the Great Depression hadn’t been unleashed on July 6, 2007. Just imagine an experiment that almost destroyed America in October 2008 and still may.
Tebo is a retired corporate CEO and published author residing in the Blue Ridge Mountains.