Northern Valley Beacon

A minority of Americans have wondered if economic globalization, which we have been told is necessary for our survival, will mean the end of democracy. As huge corporations take over the world's enterprises, their policies displace Constitutional values and protections. Corporations are feudal by nature. Even IBM, which was once the model of a modern corporation in a democratic society, has abandoned its policies that treated employees as freemen. It, too, has reverted back to the medieval attitude that employees are serfs who must grovel in constant obeisance to those who allow them to live.

What was shocking to most Americans about the sale of American ports to an Arab state-owned company was the realization of how much of America is being sold off. David Ignatius in the Washington Post provides an alarming perspective on the issue:

The real absurdity here is that Congress doesn't seem to realize that an Arab-owned company's management of America's ports is just a taste of what is coming. Greater foreign ownership of U.S. assets is an inevitable consequence of the reckless tax-cutting, deficit-ballooning fiscal policies that Congress and the White House have pursued. By encouraging the United States to consume more than it produces, these fiscal policies have sucked in imports so fast that the nation is nearing a trillion-dollar annual trade deficit. Those are IOUs on America's future, issued by a spendthrift Congress.