The Beginning Of The End
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35 Facts About The Gutting Of America’s Industrial Might That Should Make You Very Angry

Did you know that an average of 23 manufacturing facilities were shut down every single day in the United States last year?  As World War II ended, the United States emerged as the greatest industrial power that the world has ever seen.  But now America's industrial might is being gutted like a fish and both political parties seem totally unconcerned.  Yes, we will always need trading relationships that are fair and balanced with other countries that have economic systems that are similar to our own.  However, the truth is that most of our trading relationships are neither "fair" nor balanced.  For example, China manipulates currency rates so that Chinese products are much cheaper than they should be, they brazenly steal our technology and we let them get away with it, they deeply subsidize their most important industries and they exploit their citizens by allowing them to be paid slave labor wages.  How in the world does that resemble the "free market" at work?  Predatory nations such as China do everything that they can to distort the free market.  So why in the world would any rational economist ever recommend that we should keep trading with other countries that are cheating us blind?  After you read the facts in this article about the gutting of America's industrial might, hopefully you will get very angry.  We need the American people to start getting very upset about these very important issues.

Both major political parties promised us that globalization would be wonderful for the U.S. economy.  Well, in the first decade of this century less net jobs were created than in any other decade since the Great Depression.

The "free trade" polices of the globalists have been an abysmal failure.  Tens of thousands of factories, millions of jobs, and hundreds of billions of dollars of our national wealth have gone to countries that engage in predatory trade practices and that exploit slave labor pools.

How in the world are American workers supposed to compete against workers that make less than a dollar an hour (with no benefits) on the other side of the globe?

If you support the version of "free trade" that most of our politicians are promoting, then you are supporting the one world economic system that the global elite are trying to establish.  In this one world economic system, American workers will increasingly be forced to compete for jobs with the cheapest labor on the planet.  This will continue to force the standard of living of American workers way, way down and it will continue to absolutely destroy the middle class.

The following are 35 facts about the gutting of America's industrial might that should make you very angry....

#1 According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years.

#2 Sadly, it looks like this trend is picking up momentum.  During 2010, an average of 23 manufacturing facilities a day were shut down in the United States.

#3 Since 2001, the U.S. has lost a total of more than 56,000 manufacturing facilities.

#4 According to the Economic Policy Institute, the U.S. economy loses approximately 9,000 jobs for every $1 billion of goods that are imported from overseas.

#5 The United States has had a negative trade balance every single year since 1976, and since that time the United States has run a total trade deficit of more than 7.5 trillion dollars with the rest of the world.

#6 Back in 1979, there were 19.5 million manufacturing jobs in the United States.  Today, there are 11.6 million.  That represents a decline of 40 percent during a time period when our overall population experienced tremendous growth.

#7 Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.

#8 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of all jobs in the United States are manufacturing jobs.

#9 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.

#10 The Economic Policy Institute says that since 2001 America has lost approximately 2.8 million jobs due to our trade deficit with China alone.

#11 All over the United States, road and bridge projects are being outsourced to Chinese firms.  Just check out the following excerpt from a recent ABC News article....

In New York there is a $400 million renovation project on the Alexander Hamilton Bridge.

In California, there is a $7.2 billion project to rebuild the Bay Bridge connecting San Francisco and Oakland.

In Alaska, there is a proposal for a $190 million bridge project.

These projects sound like steps in the right direction, but much of the work is going to Chinese government-owned firms.

"When we subsidize jobs in China, we're not creating any wealth in the United States," said Scott Paul, executive director for the Alliance for American Manufacturing.

#12 If you can believe it, the United States spends about 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.

#13 The U.S. trade deficit with China rose to an all-time record of 273.1 billion dollars in 2010.  This is the largest trade deficit that one nation has had with another nation in the history of the world.

#14 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.

#15 The new World Trade Center tower is going to be made with imported glass from China and imported steel from Germany.

#16 The new MLK memorial on the National Mall was made in China.

#17 Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe?  Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.

#18 In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.

#19 Even in high technology products we are being destroyed.  In 2002, the United States had a trade deficit in "advanced technology products" of $16 billion with the rest of the world.  In 2010, that number skyrocketed to $82 billion.

#20 China has now become the world's largest exporter of high technology products.

#21 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China's share had soared to 20 percent.

#22 Manufacturing employment in the U.S. computer industry was actually lower in 2010 than it was in 1975.

#23 In 2008, 1.2 billion cellphones were sold worldwide.  So how many of them were manufactured inside the United States?  Zero.

#24 The United States now has 10 percent fewer "middle class jobs" than it did just ten years ago.

#25 Today, American workers are bringing home a much smaller share of economic pie.  Over the past decade, the ratio of wages to GDP has been declining very steadily.

#26 Now that millions of our jobs have been exported, there aren't nearly enough jobs left for all of us.  Right now, the average amount of time that a worker stays unemployed in the United States is approximately 39 weeks.

#27 There are fewer payroll jobs in the United States today than there were back in 2000 even though we have added 30 million extra people to the population since then.

#28 If you gathered together all of the workers that are "officially" unemployed in the United States today, they would constitute the 68th largest country in the world.

#29 According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 dropped by 27 percent after you account for inflation.

#30 As the number of good paying jobs declines, America's middle class is rapidly shrinking.  In 1970, 65 percent of all Americans lived in "middle class neighborhoods".  By 2007, only 44 percent of all Americans lived in "middle class neighborhoods".

#31 In the United States today, corporate profits are at a record high, and yet employment numbers have still not rebounded.  Obviously something is structurally wrong.

#32 The Obama administration says that there are certain things that "we don't want to make in America" anymore.  If you don't believe this, just check out what U.S. Trade Representative Ron Kirk recently told Tim Robertson of the Huffington Post about the Obama administration's attitude toward keeping manufacturing jobs in America....

Let's increase our competitiveness... the reality is about half of our imports, our trade deficit is because of how much oil [we import], so you take that out of the equation, you look at what percentage of it are things that frankly, we don't want to make in America, you know, cheaper products, low-skill jobs that frankly college kids that are graduating from, you know, UC Cal and Hastings [don't want], but what we do want is to capture those next generation jobs and build on our investments in our young people, our education infrastructure.

#33 Jeffrey Immelt, the head of Barack Obama's highly touted "Jobs Council", has shipped tens of thousands of good jobs out of the United States.

#34 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades.

#35 One recent poll found that 41 percent of all Americans believe that "the American Dream has been lost".

Yes, it is fun to go out and fill up our shopping carts with "cheap products" from the other side of the world, but when we do that it destroys our jobs, our businesses and our communities.

Our addiction to cheap foreign products is incredibly self-destructive.  Essentially what we are doing is that we are ripping apart pieces of our own home and throwing them into the fire in an attempt to keep it going.  Eventually we will cannibalize our entire home.

And we never really think about what it is like for the slave laborers that make all these cheap products for us.  The following is from an article in the Telegraph about what conditions at one major Chinese manufacturing facility are like....

So far, at least 16 people have jumped from high buildings at the factory so far this year, with 12 deaths. A further 20 people were stopped by the company before they could attempt to kill themselves.

The hysteria at Longhua, where between 300,000 and 400,000 employees eat, work and sleep, has grown to such a pitch that workers have twisted Foxconn’s Chinese name so that it now sounds like: “Run to your Death”.

If we stay on this current path, even more of our formerly great manufacturing cities will turn into post-industrial hellholes.

Once upon a time, I also bought the "free trade" propaganda hook, line and sinker.  But then I opened up my mind and I learned the truth.

This nation is losing jobs, factories and wealth at a pace that is almost unbelievable.

Something desperately needs to be done.

Is there anyone out there that is willing to defend the emerging one world economic system that is stealing our jobs and killing the middle class?

If so, I challenge you to take your best shot.  Leave a comment below and explain to the rest of us why we are wrong.

We need to debate these issues because the myth of "free trade" is absolutely killing us.

Please wake up and get angry about these issues America.

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  • http://courtroom-calvinball.blogspot.com Chris

    Currency “manipulation” by the Chinese only works because they buy our debt with the dollars they accumulate. The problem is with fiat currency and our entire monetary system based on ever-expanding debt, not free trade (even though we don’t really have free trade either, just managed trade).

    Also, Chinese workers are not slaves. They work where they do because it’s better than the alternatives. There’s no such thing as a “stolen” job, just like Ford isn’t “stealing” customers from GM when they price their cars lower. It’s all competition. US workers demand huge benefit packages for any miniscule task, and then we complain because we’ve priced ourselves out of the market. Tough *********, I say. We either need to figure out that we aren’t entitled to squat, stop our bitching, and get to work or starve slowly as other people in the world move in to fill the labor gap.

    • Gary

      So we work for 90 cents an hour and we will be competitive…..riiiight!

    • Syrin

      It does my heart good to see someone who gets it.

      Labor in America has outpriced its value. Study after study shows that every time the minimum wage goes up, the number of people employed goes down. If someone gets paid $7/hour to generate $5/hour of profit, then the cost of labor is too high. It’s hard to believe that it’s cheaper to set up shop on the other side of the world, but it’s become oh too appraent by the actions of business.

      The Obamugabe actions will only accelerate the exodus. Think Boeing or ANY big manufacturer will build anything else in America again?

      Se, labor union = monopoly on labor. It’s sole purpose is to protect incompetent workers that could not get the salary they demand based on free market competition for their skills. It also hurts the talented labor whose salaries are kept lower than whaty they could command.

      History and facts. Two things the regressive party is allergic to.

      • usworker

        Not surprised to read that one who doesn’t get it thinks messed-up thinking is ‘getting it’.

        Name any ‘study’ that isn’t from a right-wing propaganda source that shows minimum wage raises cost jobs. You can’t do it.

        Your narrow, one-sided view of what unions do and are is just sad.

        How do workers counter the monopoly of the ‘employers’ on an individual basis? No way they can. Unions are one means of balancing power between the “capitalist” who’s selling their labor and the “capitalist” who’s trying to get the worker to produce product for them for nothing, or, in any case, for less than a living wage.

        Not one of your so-called capitalists would consider working for the peanuts they grudgingly pay the workers, who are actually the real wealth creators.

        Your rich people are the leaches on the workers (wealth creators) and, what is worse, they are greedy and don’t know how to play nice with others.

        I do know nothing i say will change your closed minded view of things, but someone else may read this reply and realize it’s about treating others as you wish to be treated. Would that some of the rich and their sycophants would have empathy enough to wake up to this.

        • http://markwandreysbooks.wordpress.com/ Mark Wandrey

          Read Atlas Shrugged some time, kool aide slurper. Your ignorance is embarrassing. “workers are the wealth creators”. Are you really that stupid? Sure, companies can’t exist without a good workforce, but that company would never have come into existence without ‘the men of the mind’. Creators, designers, innovators, and MILLIONAIRES with venture capital. Go occupy a library and learn some economics.

    • Syrin
    • Jon

      First paragraph, that’s not how currency manipulation works. Us debt has no effect on the devaluation of Chinese currency.

      Second paragraph has all sorts of logical fallacies.

    • http://www.youtube.com/doktrynofgod Doktryn

      100% correct Chris. That is the name of the game that the elites have used and manipulated to fit their agenda: capitalism. Plain and simple, if I am a business owner, and the environment for me to create jobs overseas is friendlier than the environment for me to create jobs at home, then if I plan on staying in business for any prolonged period of time, I’m going to make the BUSINESS, not EMOTIONAL, decision and make my product overseas. The problem is, people are so wrapped up in emotion and fail to see the fact that because we elected officials which did nothing other than regulate and restrict business, business decided to do what it has always done and should do, find better opportunities. America has done this to itself by adopting the entitlement mentality. The only result that can come from this is massive riots when we come to the realization that we were #1 but we decided to take pages from the losers’ playbooks to figure out how we would keep winning instead of doing what we had always been doing: prospering.

    • vokoyo

      Japan arrest of a Chinese fishing captain within the 12-nautical-mile territorial sea surrounding the Diaoyu Islands has again inflamed relations between the two great East Asian powers.

      China claim to the Diaoyu Islands is based on the “discovery” of unclaimed territory and derives from a range of Chinese governmental contacts and references going back to 1372.

      Japan claim is also based on the “discovery” of supposedly unclaimed territory, despite the fact that official Japanese documents, several of which were unearthed by Taiwan scholar Han-yi Shaw, demonstrate that the Japanese government was well aware of China historic claim when it began to take an interest in the islets in 1885.

      During the subsequent decade, contrary to the assertions now made by Japan, its officials not only failed to complete surveys of the islets necessary to confirm their alleged unclaimed status, but also recognised that the matter “would need to involve negotiations with Qing China”.

      To avoid China suspicion, Japan chose to conceal its intention to occupy the islets “until a more appropriate time”. That time came in January 1895, when Japan by then on its way to defeating China in their 1894 war, adopted a Cabinet decision that the islets were Japanese territory. Yet even that Cabinet decision was not made public until after the second world war.

      Moreover, if the US were to become an impartial mediator, it would have to note that Japan claim to sovereignty over the islets is based on a distorted version of late 19th century history that does not pass the international smell test.

      It is time for Japan to reassess its views on the international law of the sea. Those of its views that are plainly irresponsible only discredit others that deserve serious consideration.

      Perhaps most insulting to the world community is its claim that the rock called Okinotorishima that constitutes Japan southernmost “land”, a reef system with land at high tide no larger than a king-sized bed, is entitled to an EEZ and continental shelf.

  • Maria

    Bill Still’s The Money Masters is a must see.

    http://www.youtube.com/watch?v=JXt1cayx0hs

    We can’t get out of debt, because money comes into existence through the creation of debt. This debt based system was designed so that people and governments would be in a state of perpetual debt.

    What is the solution? DEBT FREE US NOTES. It works. How to do it is laid out at the end of this video. 3:06:00

    THE WORLD MUST ABOLISH THE CORRUPT CENTRAL BANKING DEBT MONEY SYSTEM!

    We must change the money system.

    • Joan FrisinaBowles

      Absolutely! There are many economists who are sharing this debt free money option and explaining it very succinctly. The problem, Congress is Bought, in the pockets of the big banks and Wallstreet Elite, and they have insidiously harmed the nation by their greed and lobbying of Congress, and a perfect example is how they gave millions to “Newt Gingrich”, and even when he was Speaker of the House. This is a small incident. They gave billions to Congressional Reps, the majority were Repubs, but some Dems, too, including Barack Obama, and now Mitt Romney, both received political funding in the millions from Goldman Sachs.(Who by the way is being investigated by the Dept. of Justice due to a Whistleblower presenting FACTS/evidence they illegally benefitted from student loan monies by the ED. Mgmt. Corp, 41% owned by Goldman Sachs). Yes, the bankers are corrupt but Congress Must be cleared of their corruption. Sign the petition for Dylan Ratigans “get the money out campaign” for a United Republic. Also join the group started by Robert Applebaum to address the predatory lending practices of the student loan industry, at Forgivestudentloandebt.com. Educated students can’t find jobs, pay is deceasing, jobs continue to be exported, money exported, and we the people continue to be exploited. Don’t fall for the divisiveness that the Elite try to impose by pitting unions against every day workers, it’s a ploy to split and fracture the majority who know the system is corrupt. It’s the system, the control by big banks and as Dylan Ratigan said, we must change the Trade/Banking/Taxes legislation. Where does that happen – in Congress. So get those thieves out. Find out what your Reps are doing. I know what mine in Maine are doing. Tell them, as I have you will vote them out, or there will be a Constitutional Convention and we will get the corruption out. Occupy the Congress!

      • Maria

        I couldn’t agree more. My family is taking action. We wonder, is it too late for the “house cleaning” to save our country? There’s only one way to find out. To do nothing guarantees failure. I will check out Dylan Ratigan and Robert Applebaum. Thank you.

    • http://www.paulstaxi.com PaulTheCabDriver

      Not only must we change the monetary system, we must also change the regulatory structure of our country. And this needs to be done not only at a federal level, but at a state and local level as well. I own a small business in Phoenix AZ (http://www.paulstaxi.com ), and though we are not regulated by the federals, we are constantly being harassed by do-gooders at the state and local level. Most of these elected state reps could not find their own rear ends with their hands in their back pocket, but deem to be able to regulate everything about every business everywhere.
      Some of these representatives realize that they are incredibly ignorant when it comes to business regulation, so they go to “experts” for advice. And who are these experts? Why, agents of the very industries that are going to be regulated! Lobbyists! And in collaboration, the representatives and lobbyists craft regulations that benefit well connected bigger businesses at the expense of start ups and smaller firms. In the short run, the connected businesses benefit. But in the long run, competition is stymied, and innovation is crushed. Manufacturers (who can move their businesses) seek environments with fewer idiotic rules. Often that is overseas. Companies that cannot move simply don’t expand, or go out of business.

      • Maria

        Paul,

        You nailed it.

        Too many politicians are ignorant, corrupt or both.

  • HerrLT

    I come here for a dose of reality and honest stories. I hope your site gets great traffic, Michael, as you sir are surely a light in the darkness. God bless you and have a wonderful Thanksgiving!

    • Michael

      Thank you HerrLT. I wish you and everyone else that visits this site a very blessed Thanksgiving as well.

      Michael

      • justamom

        Michael,
        I have been reading your posts for over a year now, and I have learned so much re economics. My kids in college wonder how I know so much of what their textbooks are teaching…thanks Michael! :)

        More importantly, I am thankful to have a small understanding of what is happening in our nation and in Europe at this important juncture in our history. Thanks for your hard work in bringing this helpful information (and links to even more information) to this blog. May God bless you, Michael!

        • Michael

          Justamom:

          Thank you so much for the kind words. It means a lot that there are people out there that enjoy reading these articles just as much as I enjoy writing them. :)

          May God richly bless you and your family and everyone else that reads this site during the upcoming year.

          Michael

  • Ken

    I have decided to start looking where things are made when I go shopping. I will purchase “Made in the USA” as much as possible and avoid “Made in China” as much as possible. Just maybe if more people did the same we would get some of them jobs back. Let the Chinese start paying their own people a decent wage so they can buy their own cheap junk.

    • REED RICHARDS

      Ken,

      Boycotting goods “Made in China”? Seems like you won’t be buying much of anything (much less anything useful) from here on out……….

      • usworker

        Ok, i hope links are allowed b/c you’re wrong, Reed.

        You’ll find almost anything you might want at this website: http://madeinusaforever.com/

        The U.S. people will have to dig themselves out of this hole they’ve allowed the greedy uber-rich to put them in, one purchase at a time.

        If you don’t buy from your neighbor, your neighbor can’t buy from you, can s/he?

  • lmao rednecks

    Actually, Chinese wages have been rising far faster than US ones, and there are many hidden wages such as free food and lodging for the workers, in addition to 3000 RMB (about 450 USD) per month. A meal in a Chinese college cafeteria is about 50 cents, and its about the same in a company cafeteria. A meal in a US college cafeteria in California is about 10 dollars and company cafeterias are even more expensive, with it being 8 dollars for a single sandwich.

    The real slave labor that I’m concerned about is that of Americans who get 30% of wages stolen from them by the federal government; did you know that there is NO INCOME TAX in China for anyone making below the average wage (3500 RMB per month) and multimillionaires are taxed at over 50%, while in the US, people making the average wage are taxed at about 25% on just federal taxes alone, which is slightly less than a multimillionaire (assuming its income is derived from work, which it isn’t; they are mostly due to investments which gets a capital gains tax of 15%, so multimillionaires in the US actually pay far less tax than an average person)

  • Toomanyfakeconservatives

    Much to the delight of the global elites…

  • bobbobbobbob

    there u go again blaming mr oo. either u creators of thes lies are ignorant of who endorses outsourcing ie (all the rebuplicanterrorists and blue dogdemocrats) or uuu are in league with chinarulesu. they own the us chamber of commerce(that chinese front org.) and they use your tax credits to export the factories to other countries. but you never recognize this. you rrr true amerikkan fools and will be ruled by CHINARULRSUUU-HAHAHAHAHA

    • bobbobbobbob

      the latest stat= only 50% of you amerikkkans can afford to go to the dentist. hahahaha
      all the itals japs sweeds greeks ect have dental
      please stay in afganistan until uuu go bankrupt and please stay out of central and south america

      • Ben Dover

        Right. Things are going soooo well in Greece and Italy. Europe is allowing itself to be overrun by Muslims. THAT will work out well.

  • Andrew Bulles

    Great Article… I concur with you on the hollowing out of the manufacturing base of our country… we are most likely now over the edge and headed towards the dustbin of great empires and nations. An oil embargo would be the last straw, IMO. But, for those of us that are productive and savers… we will get by and come out of this nightmare in a much stronger position… THE TILLING OF THE SOIL HAS BEGUN… THE CULLING OF THE HERD WILL BE NEXT… TAKE WISE COUNCIL, BE MEEK AND KEEP YOUR FAILY SAFE AND YOU WILL INHERIT A REDEEMED COUNTRY AFTER THE FALL. I’ve prepared and am building my next future now. Once the turmoil comes to pass… my family will rise.

  • http://EconomicCollapse Already Gone

    America Used To Be The No.2 Polluter Behind China,Have Not Heard If They Still are.I Strongly Believe That The Gutting Of America Also Ties In With The Phrase “Spread The Wealth” Which In Turn Can Be Tied To The Fact That For Many Years The Wealthier Countries Spent a Lot Of Money To Get These Poor Countries To Industrialize,But were Not Sucessful Because Of The Dictators Rule,Now That These People Are Being Removed From There Positions
    (Iraq-Libya} There Hope Is With A U.S Approved Government THat These countries Will Eventually Become Self Sufficent Through Oil Sales And That Money will Build There Economy To Where They Can Be Part Of The Global Trade Market.The Sad Part Is That The American Taxpayer Is Also Going To Be Taxed To The Hilt To Pay For All This Until It Happens And Will See Nothing In Return For It. So In
    The End Not Only Will This Government Take Everybody To The Cleaners By Shipping Jobs Overseas,
    Taxing For Whatever They Can Get,Putting People Out In The streets,They Will Continue To Dismantle This Country Until The People In The U.S Are at The Level That Third World Countries Are Right Now. And That I Do Believe Will Not Be Accepted In This Country. I Do Not See Any Reason To Continue Telling
    People To Wake Up Because If They Do Not Understand What Is Happening To Them Right Now They Never Will.

    • Jeff

      Why do you capitalize every word in your sentences?

      It’s hard to pay attention to the content of your message when the capitalization and punctuation is so poor.

      At least your spelling is okay.

  • PatriotOne

    Gee Michael no takers yet. We were warned by Ross P. more then 20 years ago. If I recall ” that huge sucking you are hearing is US jobs going overseas” or something to that effect.

    Regardless of what we know the masses are clueless. Until the collapse hits them in the head, there is no recession. By that time they will be wondering what happened.

  • mondobeyondo

    I would put my trusty bloodhound Jessica on the trail, but she’s too busy eating Mighty Dog right now.

    Sooooo… it’s best to ask the classic journalism questions: Who, what, when, where, why, and how.

    Who: We The People, and Them The Elite
    What: The raping and pillaging of the American economy
    When: Oh, from about 1980 to the present.
    Where: The United States of America
    Why and How: Oh, now it’s getting tricky.
    Why? Because they can. Plain and simple. Absolute power corrupts absolutely, and over the years we’ve given The Powers That Be absolute power.
    And How? Well, first the banking institutions took over the country in 1913 (The Federal Reserve Act). They rapidly gained a foothold. Eventually these banking interests gained more and more power. And now, they have so much power, they can influence our presidential elections. (Ever try to run a presidential campaign with no money? You need support or endorsements from someone.) The United Computer Chip Makers of Silicon Valley (with a bonus check from Citibank!) would love to contribute to your campaign fundraiser. Woo-hoo! Throw in a couple of political action committees or labor unions, and you’re on your way! Just don’t let a past mistress or ex-girlfriend trip you up. That could be poison for your campaign.

    Umm…Oh yeah, the gutting of America’s industrial might. Sorry, got off topic. Tends to happen to me.

    Generally speaking, the lifestyle we live in America that we describe as “poor” – would be considered “bliss” in much of the Third World. Granted, I’ve never lived in a Third World country, but I’ve checked out the CIA Factbook website as well as a few others. We have it pretty good. It’s tough right now for many of us here, but it’s not Cameroon or Angola or Bangladesh. Be thankful at least for that.

    Yes, free trade will make everyone more equal, in a sense. But not in the way you think. You may think that with free trade, India will raise their standard of living to our level. Millions of Indian people with DVD’s, flat screen TV’s, driving Toyotas to the local strip mall.

    Surprise! Our standard of living will be lowered closer to what India’s is today.

    • liberranter

      When: Oh, from about 1980 to the present.

      Actually, Mondo, it dates from much earlier than that. I’m tempted to say that 1913 is a good starting point, but the embryonic stages occurred even earlier. You could even argue that “Honest [bullsh**!] Abe” Lincoln’s executive dictatorship, 1861-1865, with its attendant early experiments in fiat currency creation, military conscription, establishment of the forerunner of the IRS and imposition of an individual income tax, the suspension of habeas corpus, imposition of a police state through the army and his proto-Gestapo, and general roughshod running over the Constitution and BoR was the initial experimental phase of what we see emerging at full speed today.

  • OrganicFarmr77

    Industrial Hemp can and will create thousands of jobs. Not only that, but saved Australia from famine – twice.

  • http://www.GeoffTalk.com Geoff

    Michael,
    Your formidable due diligence and competent articulation of the conundrum we face is a service to the country. Now your writing is out and available for sharing by many people to many people. Now we need to attain critical mass to change direction, if we don’t we will arrive at where we are going. I hope not.

    I too, am amazed at how difficult it is to overcome people’s habitual, or, political inertia, even when evidence supporting a new direction is overwhelming.

    A “tip of the hat” to you, know that you are not alone in this quest to enlighten enough people to effect meaningful political and cultural change.

    We also deliver the message, everyday.
    With appreciation,
    GeoffTalk.com
    Geoff, John & Staff

    • Michael

      Thank you for saying that, and hopefully people will check out your site as well. :)

      Michael

  • SaneOhioan

    The only hope for the individual in these trying times is the Lord Jesus. Worldly systems are bound to fail, and judging from events happening all over the world we are very close to the Rapture of the Church.

    “For God so loved the world He sent His only begotten Son (Jesus Christ), whoever shall believe in Him will not perish but have everlasting life.”

    http://www.claybe.com

  • gardener1

    #18 In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.

    And Obummer just signed a new *free* trade agreement with South Korea! Bwahahaha American people, you have been sold down the river to Globalization. Buy a new Korean Kia on monthly slave payments to the bankster of your choice for a foreign made, fossil fuel guzzling, 19th century technology machine. It just doesn’t get any better than this!

    P.S. Anybody else here remember after the whooping the democrats took in November 2010, Obama was sent on an offshore junket to Asia where the dolt was proposing another Free Trade agreement with…..

    …..India?

    Down the river we go. In a foreign made canoe without a paddle.

  • Old Man

    Michael, like most Americans, play the cry-baby blame game – accusing China of currency manipulations.

    What China does is to use some of its trade surplus US dollars to buy US government debt. Instead of converting 100% of this money to the RMB. As a result, the RMB-USD exchange rate is lower than if China does not buy US debt.

    Why does the US government issue so much debt for China and others to buy in the first place? Because US screws up its economics and finances.

    And how does US create such a huge amount of debt anyway? It simply create it out of thin air.

    So China workers work like mad, manufacturing all kinds of products that require real skill labor, real materials, real energy, and real engineering, and sell them to lazy Americans in exchange for a pile of ‘dollars’ the US create out of thin air.

    And after taking the US dollar, the country even return trillions of them back to the greatest currency manipulator of all time – the US Treasury, to buy its endless issues of debt. To finance US fiscal irresponsibility.

    Look who is complaining??

    Why does this happen? Because Chinese workers beat the hell out of US workers in making things for a much lower wages with equal quality. It is called comparative advantage in standard economics theory. It is a brand of economics US *invented* to beat the hell out of the British when they were a big empire and the US was a dirt cheap country after the Civil War bust up. USA rode this economic advantage for a century to become filthy rich. Not a word of blame. Now China plays the same economics on the US and guys like Micheal cry like sorry babies.

    How should the US fix its ‘de-industrilization’, a phenomenon entirely the work of American multinational corporations? Simple! Go invent better things, and go make these things better, faster and cheaper than somebody else. And go do some growing up.

  • tappedops

    Bottom line… all you losers who built our homes,condos,cars,roads,highrises,you mindless “workers” who toiled with your hands… are no longer needed here… you didnt have the foresight or the gray matter to realize that the future is in … “Other peoples money”

  • DM

    Until the culture of corruption in government is dealt with, there will be no solutions to our nation’s problems. Let’s face it. We have corruption politicians who accept legal bribes to look the other way while corporations destroy this nation and the lives of millions of Americans for more money.

    In other countries, Nancy Pelosi would go to jail for making over $100,000 in a sweatheart IPO deal after killing legislation against the credit card industry. This was legislation that would protect consumers from predatory lenders.

    Kudos to 60 minutes for exposing such corruption.

  • Shamaka

    You will be interested to note that some Chinese companies are complaining about the high labour costs in Eastern China (eg Shanghai and Guangzhou) and are looking to move to places with cheaper labour like western China and Brazil! The problems are not simply the movement of jobs. It is the loss of ancilliary jobs and skills, as the insight into solving manufacturing and design problems is lost. The higher skills disappear too! I worked at a Uni with 3 supercomputers and basically all of the experts are gone. Its easy to get someone to solve problems with logins and email (even though email is now via gmail accounts), but as a chemist I now have to solve problems related to an inaccessible supercomputer and its undocumented ideosyncrasies! And as the market for some of these high tech goods dries up (because more and more work is done elsewhere) you’ll have to wait for out of state support so everything is brought to a standstill! Good Luck!

  • oleguy

    While we blame everyone else look in the mirror. We buy cheap crap and most could care less if it is made in the USA. Now trying to find USA made products is a pain in the butt. We voted those smucks in office and they are shipping our jobs overseas in the name of free trade. Free trade my arse. Common sense will tell you if the labor is cheaper in another country companies will ship the jobs there.

    Even though I may get flamed for this, our governmental regulations are killing us as well. I am all for clean manufacturing and less pollution, what I am not for is all the tree huggers trying to send us back to the 1700′s. You must achieve balance.

    This administration weants to spend more money on bailout then turns around and stops a pipeline project that will create thousands of jobs and lower our oil prices. All they want to do is bailout the states that will re-elect this smuck. As usual we the people are screwed over again. Time to vote them all out of office and put people in there that will actually listen to its voters.

    • Jake

      Oleguy, there may be other sites for USA made products but I use this one:http://www.americansworking.com/index.html

    • usworker

      And another… as i posted above:

      http://madeinusaforever.com/

      See? Not hard at all to find better than “world class” stuff right here where “Made in America” beats “world class” any day of the week.

      And, oldguy, I do agree with your Para#1.

      Para#2: wrong on both counts.
      “Tree Huggers” are not trying to “…send us back to the 1700′s…” You don’t know what real environmentalists are working for, if you say that.
      “governmental regulations” exist b/c, after the fact of harm to others, the government regulates (kinda,sorta,almost) those who have harmed and may again harm, others. Ask yourself one simple guestion: “Do you really think that, without regulations who can assess fines and/or close them down, the airlines would have been or be as well run as they are? (Google “airplane roof ripped off” to see how poorly things run even with current levels of regulation)

      Para#3: a 2000 mile pipeline? You’re joking, right? Besides building costs (jobs that should not happen), there’s costs for cleaning up the spills that WILL happen and they never can really clean it up, just cover it up for later hazards. The reason the greedy rich what the pipeline it to keep their monopoly refineries in Texas Supplied, and you won’t see a penny drop in prices from this pipeline, EVER. Put a refinery next to the Canadian tar sands. It’s WAY cheaper to transport finished product than the crude from which the wastes from refining will have to be disposed of after traveling 2000 miles.
      No drilling in the U.S. will result in any real price drops. Take that to the bank, it’s true.

  • John

    Some say that if we ever got into another world war, that we would not win it because we have gutted our manufacturing base. There are only 3 ways to generate wealth: 1.)Mining. 2.)Farming. 3.)Manufacturing.

  • http://MoneyedPoliticians.net Jack E Lohman

    There is only one reason this crap occurs: our politicians get cash dollars from the top 1% when they share the booty via campaign bribes. Only public funding of campaigns will change it, and only the political crooks can make that happen. They won’t, of course, thus we need a 100% turnover in congress in 2012.

    Jack Lohman
    http://MoneyedPoliticians.net

  • http://leibowitzsociety,blogspot.com Leibowitz Society

    In another few years, it seems clear that we will see people desperate enough to take any kind of job or work, no matter how low or meaningless, to get by. Obsolete jobs are not coming back and structural unemployment is not going to change. All this points to just another beginning of our new Dark Age.

    Visit the Leibowitz Society at http://leibowitzsociety.blogspot.com/2011/11/jobs-picture.html for discussion and commentary on what direction our collapse is taking, as well as how to personally prepare and store our knowledge for future generations.

  • andrew hartman

    so why aren’t the OWS people blaming the chinese?

  • http://goldenladyfun.blogspot.com Pat

    You people have it all wrong. There is nothing any of you junior Einsteins can tell the economists or sociologists about the economy and how it works. This implosion is not because they do not know what they are doing. They know precisely what they are doing. This is on purpose.

    Why do you insist on repeating over and over again how fiat currency works what is fractional banking. What we must do in order to correct the balance of trade? Don’t you understand? This implosion is on purpose. It is no accident. In fact, there are no accidents in this world.

    There is no doubt that these people such as Bill Gates and others want you gone. They will poison you, confuse you, hypnotize you, starve you as well as shoot you and bomb you much the same way as you would an unwanted ant hill. You (we) are in a battle for survival. We are not in an academic discussion about communism versus capitalism. These people want you (us)gone.

    What makes you think that the obvious economic decline is an accident. The thought that some of you entertain the idea of how we can improve things if only we could get our elected officials to pay attention is like folding deck chairs on the Titanic.

    I live in Europe. Europe is socialistic. It is worse than living in Africa. At least there you can still eat natural foods. Here in Europe the people are one step away from being cows. They have no say, they have no rights, they have no guns, they have no foods and their numbers have been decimated. Check out the statistics on the declining fertility and population rates in Europe by country.

    If it were not for the influx of Muslim immigrants all of the European populations would have had negative growth. But by supplementing the populations with foreigners they were able to keep the people from knowing what the real effect of their eugenics programs were. They covered it up.

    Don’t you get it. These people are eugenicist. They want you gone! Why are you talking about industry moving to China when clearly the people pulling the strings have no intention of letting you survive.

    Here, where I live we exist like peasants. Our homes are tiny. Our water heater is the size of a shoe box. The fridge is smaller than you would find in an RV, half the population has cancer, heart attack, stroke, diabetes, down syndrome or some other disease. We can not get natural foods. Its all 100% GMO except what we buy from mom and pop farmers. Hospitals are disgusting with long lines, filth and massive amounts of pharmaceuticals. Services including electric, telephone, internet, legal, police and fire are almost non existent. Ambulance services are poor.

    We had elections today. Europe is socialistic. Politicians openly call for money to be taken from the psuedo-rich and given to the poor which means the middle class. Of course not one penny of that money will be redistributed.

    We have very little production or manufacturing. All of our goods are imported from China with the typical Chinese reliability.

    There is no education in Europe. Very few go to university. Many drop out from high school at the age of 16. There is reward for repeating the same global warming propaganda back to them. And there are penalties for thinking and asking questions. I know, I have two teenage kids here. The people themselves are totally addicted to TV with little or no understanding of the world around them. Google acts as a censor so that we can not buy American products. All of our information is censored, even more than you have in the U.S.

    There is no religion here. No Christmas decorations by the municipalities. What we get for the holiday season are lighted balls, a cube and a triangle. Ho Ho Ho.

    I myself am an investment banker. I can tell you that conditions in Europe are similar to those that we had when I lived in Nairobi as a student. Having lived half my adult life abroad in several different countries I can assure you that you in America are about to get the same as we already have in Europe.

    This is not about jobs. This is not about industry. This is about human decency. If left up to the eugenicists like Bill Gates this economic collapse leave no human decency what so ever. They will try to turn you into a cow with a tag on your ear for identification.

    You go ahead and have those academic discussions about how money is created. Do you even know what is money? But you had better buy gold while you still can. We in Europe have no access to gold. Its not illegal. It just is not available to the common man. Leave the talking to those who believe that they will be taken care of by our elected officials. Me, I am buying as much gold as I can and getting as far away from here as I can.

    http://golgenladyfun.blogspot.com

  • http://www.youtube.com/user/TheMainStreetProject ex VRWC

    Here is my attempt to capture Michael’s point in a song and video. It hits right to the point. Free Trade is one of the flawed ideologies that we have built this crumbling edifice on.

    http://youtu.be/B9EbC9sYQU8

  • Suetonious

    I am again amazed by the attitudes I see here. But then again, I used to feel the same way. I would absolutely blow a gasket when talking about the amazing retardation of our government as they pissed away the very things that made America great. I would practically stutter in apoplectic rage at their profound incompetence, corruption and braindead stupidity – as the policies they put in place threw gasoline on the fires of debt, unemployment, economic demolition, cultural degradation, and banker criminality.

    Then, I gradually began to see that this was all pre-arranged. This is not stupidity, incompetence, nor low-level criminality. No government in history is as stupid as this one pretends to be. It’s a Plan, and the Upper Minions, those manhandling the corrupt lower-level minions into doing their various biddings, are doing a damn good job of following it. Give them some credit, eh?

    My blood pressure has gone way down since I quit trying to make sense out of this coldly systematic project to destroy America, as if all its manifestations were due to the temporary dysfunction of a democratic republic that was really actually trying to govern “for the People”. Yeaaaaarrriight. Believing in the propaganda of the System that these “problems” can be fixed with new puppet clowns at the helm is no longer for serious people that have any sort of real interest in “fixing” the System, which ain’t gonna happen either, at this point.

    Wake up and get the hell out of Amerika. We’ll recreate it somewhere else.

  • Levantine

    I follow and enjoy your blog for some time, but it isn’t perfect. “Predatory nations such as China do everything that they can to distort the free market…The “free trade” polices of the globalists”

    Free trade is based on mutual benefit, and since there is no benefit for the US in outsourcing US economy, there should be no talk of free trade! http://mises.org/daily/1420

    And to call China a predatory nation whose victim are the USA is not just laughable, it’s wretched intellectually and morally. If there is one predatory nation on Earth, it’s the US. The American industry was enabled by the American government’s support of tyranny, war and impoverishment elsewhere. Your “aid” to poor foreign countries went to your corporations’ pockets, a transfer approved by brutal tyrannies that the US government installed and supported. Your fiat global currency distorts the “free market” for half a century – to your benefit.

    And now? As you too are becoming victims of the same criminal elites, only now you complain! Often as halfwits! You’re for a long lesson in humility.

  • http://usa-wethepeople.com/ economics9698

    We get the good stuff, the goods and services, China gets the crap, cheap dollars. Someone does not understand economics.

    If we want jobs here eliminate the corporate tax.

    • Michael

      We wouldn’t have to have “crap, cheap dollars” if our trade deficit and our federal budget deficit were not so out of control.

      Plus, the goods and service get used up. The trillion dollars of debt we now owe to China will last for generations if we don’t fundamentally reform the financial system.

      Michael

    • Kevin2

      When labor can be had for manufacturing for a wage that is 5% of that in the US Americans will not be employed when those goods can be imported duty free. Just add in no civilized environmental and employee health and safety regulations as icing on the cake.

      The Corporation may have it’s HQ in the US and papers filed in Delaware but the employees will be in the developing world.

      Wealth creation was replaced with increasing the supply currency and currency credits while inflation was held in check by the much lower cost of manufacturing with virtual slave labor. The increased money supply facilitated a false reduction in interest rates and the foolish took the bait line hook and sinker. This created the “service economy” which provided employment long enough for industry to leave without waking up the masses to the problem of a significant reduction industrial capacity. Now a population with too much debt and little wealth asks itself, “What happened”? Many still cannot connect the dots and just want jobs not understanding the necessity of wealth creation. Many quite possibly the majority just turn on the big game and “worship the sphere” or watch the antics of spoiled celebrities never truly understanding the cause and effect that put them where they are today.

      • http://www.planorperish.com/ Gutter Economist

        The Next 3 dots

        (1) A republican president.
        (2) An attempt to balance the budget.
        (3) 13 to 17 percent unemployment by the end of 2013.

        • Michael

          You know I think that you are right on target with all three of those.

          Except that your unemployment estimate might be a little low.

          Michael

  • r.bitting

    Here’s a free trade agreement that never fails… Christ died on the cross to take upon himself the sins of the world so that through his sacrificial death, anyone who would repent of their sin and trust in him would be saved. He takes upon himself your sin, and in return, you get his righteousness…. ” He who knew no sin became sin for us so that we might become the righteousness of God in him ” 2 Corinthians 5:21 ( Now thats a trade ! )

  • Robert

    Michael,
    There is one other explanation as to why free trade does not work and it also explains why the U.S. runs trade deficits with nations that pay their workers well and don’t cheat in the ways China does. The answer is that you will always run a deficit with a nation that has a much higher population density. If you are interested in this well researched theory, check out Pete Murphys book “Five Short Blasts: A New Economic Theory Exposes The Fatal Flaw in Globalization and It’s Consequences for America”
    I found it very convincing.
    http://petemurphy.wordpress.com/

  • http://portlavacalots.com CTD

    If there is globalization in the world then the labor will be globalization as well. The fact is that American is having very high standard of living and demand to have very high benefits such medicare, vocations, and very high pay in order to meet the cost of living. Plus the unionize demand more pay for employees and less and less work. on the top of that, the labor law, the regulation, so on and so far while many other country is opening their door wider with almost no regulation, environmentally easier, and plus the labor is 1% comparing to American so the employer must be moved out of US for not only cheaper labor, and less headache about the unionize on strike all the time but also alway having many of the legal issues that have to deal with it and very expensive lawyer even the employer win the case. As the big corporation, they are looking for the most profitable with the less expenditures; therefore, it will soon or later move out of US completely. It is the fact, if you are the owner of the big corporation you are doing the same. This will going on until the stardard of living in the world balance then we can see the improvement of unemployment. Otherwise, we have to live with more and more of losing jobs, car, and houses until we get used to other poor country that the middle income is not even a quarter of what we make here. Another words, we have to lower our cost of living as mush as 75% or even lower which is very difficult because we are not used to it, but the reality will go to that direction any way as we can see it like back to the 30′s. Until then, we will see the big corporation will move back in US.

    • Kevin2

      None of this could be accomplished without both Houses of Congress and the President agreeing to and signing trade agreements that stopped tariffs that we’re in effect since the founding of the nation.

      The Preamble of the US Constitution is in effect the “Mission Statement” of the US Government. It clearly states who should benefit. It states, “For OURSELVES and our POSTERITY”. It’s a simple concept. The Government of the United States of America is to function for the best interest of the American people as in “We The People”. It has neither the responsibility or authority to help other nations especially at the expense of it’s own.

      Free Trade with slave labor nations has been enacted world wide. Even the socialist Democracies in Europe with a history of a strong labor influence in politics joined in to their demise. Does anyone think the majority (as in majority rules) in Europe agreed to such agreements? The fact is self governing truly does not exist in the world but rather it’s run by a disguised oligarchy that fosters the illusion of democratic rule.

      • Joe

        No Korean or any other Free Trade “agreements”. Rescind them all. They are constitutionally illegal, anyway.

        Article 1, Section 8 of the Constitution gives Congress the specific right to “regulate commerce with foreign nations”.

        Just say no to WTO and free trade looting and yes to American prosperity through the American System.

        Return to the economic policy the country was founded upon. If we had elected officials that would reinstate Alexander Hamilton’s American School of Economics, tariffs on imports, building America’s infrastructure, supporting manufacturing and innovation, supporting engineering and technical education and citizen development, using the import tariff funds to pay off Federal debt, provide grants to industry and innovators and creating a nationwide environment of prosperity, causing us to become self sufficient and self reliant, we could get back on track. /wiki/American_School_(economics)

        The political leaders of America from 1789 to 1970 followed the American System, not British free trade looting, not Libertarian or Objectivist or Communist Psycho Babble, but The Founding Fathers method of promoting the general welfare. They created the greatest country to ever exist. There is no excuse, whatsoever, for abandoning this policy.

  • liberranter

    Something desperately needs to be done.

    An excellent start would be to repeal all of the wealth and entrepreneurship-destroying taxes and regulations, at EVER level of government in Amerika, that discourage new business startups, hamstring existing businesses, and destroy the market for labor.

    Needless to say, that’s NEVER going to happen as long as the reins of power in the country continue to be held by the current ruling elite (fronted by the two fraudulent facades called the Demopublican/Republicrat parties), creatures who benefit from the New World Order destruction of the REAL America.

    So, boys and girls, suck it up and be prepared to suffer, hideously, for the rest of your miserable existence. The Power Elite ruling over us is NOT going to go away, and even it if did completely collapse, it’s entrenched enough to take the rest of us down with it.

    Sorry to be so gloom-and-doom, but as the popular expression goes – reality bites.

    • liberranter

      Make that “EVERY” level of government…

  • Danielle Gorbet

    It sure is funny how everybody can sure predict the U.S. economy going into a total pitfall and how it is all the governments fault for not opening their eyes and realizing what is really going on, but what about us – the people. Sure, we can read all of these articles, and get all pissed off about it, and feel all yucky the rest of the day. But what good is that really doing? What the American people to change these articles around into the positive?

    • Highspeed

      All I know to do is prepare to take care of my family and friends well into the future. I am way past ranting, it only falls on deaf ears. I warn whoever will listen to me and I am preparing for collapse like a madman. A major part of my prepping involves my church and my family. We are ready spiritually, mentally and physically for whatever may come. The world may collapse but, life will go on.

  • Patriot Alice

    We are responsible for what is happening to America, not China, Greece, Italy etc..The irresponsible people always blame others for their problems….

  • jed

    I agree that the federal govt needs to take steps.
    But what about individual citizens? It has got to the point where everyone wants the cheapest product possible, refusing to pay a decent price for anything.
    Next time you buy a cheap product from overseas, stop for a moment and think whether the price you are paying would support the kind of life you yourself would like to live. We are our own worst enemy – every time one of us buys a cheap imported item from Target or Walmart, we are making it that much more likely that we will never have a decently-paid job ourselves.
    Do you really need those 15 cheap shirts in your closet? You could have made do with 5 more expensive ones made in the USA and saved someone’s job in the process.

    • http://www.povertylinejournal.blogspot.com/ the optimist

      I’m working on a series of websites that will source (but not directly sell) US made products of all kinds. Check out my prototype site here:

      http://madeinamericaholidaygiftsandcrafts.com/

      If anyone reading this is interested in submitting their products for publication, the link is on the Contact page. I’m a bit late in getting it going for this year, alas.

      I went into three big box stores about a month ago on the mission of finding US made goods: Best Buy, Target, Walmart. I spent HOURS in the stores looking at boxes and labels. It is really stunning to see.

      Michael, I have links to your blog/posts on my site.

  • TucsonKK

    Yes all is true and has been happening since Clinton but OB is just to smart to not know this or sometimes smart people trust others and get screwed(Like BP Gulf oil spill). Obama is being screwed along with this Country. I try to tell others about the fall of the USA but ignorance is bliss. Sad

  • sabretooth

    “Buy American” sounds like a great idea until you go to the store and try to do it. Virtually everything for sale is imported, mostly from China. I look for items made in the United States and I can’t find any. Even the most recognizable American manufacturers are making everything in other countries.

    I learned in school that capitalism is successful on the backs of the workers. The lower the wages and benefits, the more profit. It is too late to change what has happened, is happening and will happen to our country. Our federal government is coordinating with state governments through Homeland Security all the efforts being used against Occupy Wall Street and all the other Occupy demonstrations. The government knows eventually the demonstrations will get violent and they are using these early stages to practice how they will deal with the much larger and more violent demonstrations to come. Look for several “martial law” practice runs in the near future. The recent test of the ability of the government to turn off all communications was a necessary step toward control of the social media when it becomes “necessary” to do so. They have learned what to do from the test kitchens in Egypt and the others.

    Historical data is easy to cite and demonstrates the damage that has occurred to this country. Their are no solutions coming from us that will be acceptable to the government/military/industrial complex. Americans will die in the streets like the people in other countries. The majority of Americans will stay home and wonder what happened. Your government will kill you, do not believe otherwise. Look how the para-military police continue to escalate the violence against non-violent protestors. Americans-you ain’t seen nuthin yet!

  • attygirl

    this article leaves out the detrimental effect of the environmental regulations, tax policies, local governmental entity regulations, etc have on business; it also fails to mention that where we are told of the high amount of $$ many businesses are ‘holding onto’ right now that the debt of these businesses are even higher such that the businesses -net- is debt. Probably many other factors left out of this article. but it is food for thought.

  • http://TheEconomicCollapse David of OK

    We blame China for all our problems, but China gets the scraps as well. It is the 1% that is corporate AmeriKa that are making a killing with their factories over in foreign countries. They make sure they can continue this rape of China and America by keeping politicians fat and happy and all millionaires. The whole system is shot and needs to be replaced, not reformed. Sorry, 2012 elections are going to change nothing.

  • http://goto.glocalnet.net/pdn/ Perdavid Nygren

    I´m so ***************** angry right now!!! Angry, angry, angry!!!

  • http://www.planorperish.com/ Gutter Economist

    “In this one world economic system, American workers will increasingly be forced to compete for jobs with the cheapest labor on the planet.”

    Most American workers have no opportunity to compete unless they create their own. Most Americans will continue to collect benefits from the US government until the party ends – then they die from starvation, food riots, or other depopulation actions.

    “Yes, it is fun to go out and fill up our shopping carts with “cheap products” from the other side of the world, but when we do that it destroys our jobs, our businesses and our communities.”

    Most Americans have few other options when it comes to shopping. We destroyed our jobs, businesses, and communities by sending the wrong people to Washington.

  • Joe

    There are tens of thousands of “college graduates” out of work. Not everyone is made to be a white coller worker. Some people are made to work with their hands and all the manufacturing jobs have gone to China causing HUGE unemployment issues here in the USA

  • http://ishtarmuz.wordpress.com/ Dale West

    We might rethink the economics of scarcity where we measure consumption as growth. The manifest destiny of such an economy only leads to an elite controlling the slave labor of the world. Pulling in the borders only is saying you want to be the elite in this equation. People are quite beyond the propaganda on both sides. We need to get beyond our machines and occupy the machines inside of each of us.

  • skip

    With the way our government allows the Federal Reserve to debase our money if you make $20.00
    an hour, you are actually working for .75 cents
    an hour if you were paid in silver! A silver quarter is worth aprox $6.40 .
    We are in deep trouble and need to get our government spending under control. Our government doesn’t have a revenue problem, they have a spending problem. We have been debasing or money for years. The concept that we have to have growth is to pay the interest to the federal reserve for what our government borrows.
    An over reaching government and over regulated
    businesses is what chases our jobs away, as well as giant corporations squeezing out small business. Big corporations write the regulations
    that our representatives pass so small businesses can’t compete. We are in serious trouble.
    We need to get big business out of Washington.
    Then we stand a chance.

  • Monk

    What actually happened is that U.S. workers wanted higher wages, so companies outsourced and workers (or their children or grandchildren) moved to more lucrative jobs in the service industry.

    Thus, those who are angry about the “gutting” of U.S. “industrial might” are partly responsible for it.

  • mondobeyondo

    “Buy American! Buy American!”

    I would if I could. But it’s getting increasingly more difficult. If I want a new smartphone, it will be a foreign made one, because no smartphones, or cell phones for that matter, are made in the U.S.

    Same with television sets. The last U.S. manufacturer was Zenith. (“The quality goes in before the name goes on”.) After browsing the electronics aisles at Wal-Mart, K-Mart and Best Buy, nearly every single flat screen TV was made in China or Japan.

    Vehicles? Can’t really tell. That Honda Accord may have parts made in China, Japan, Mexico, Germany, Sweden, and the U.S. for what I know. They assemble all the parts in some shop in Tokyo and slap an “Accord” nameplate on the final product.

    The one thing I know that’s 100 percent American, are the veggies I grow in the back yard.

  • mondobeyondo

    I heard a story a few years ago… that many closed circuit TV cameras are made by Sony. It’s because when you rearrange the letters, they spell out “Nosy”. That can’t possibly be true.

  • WarriorClass III

    Between the rattlesnak’s tail and its fangs. The crisis of legitimacy, the dearth of citizenship, the spectre of civil war and moral responsibility.

    “…collectivist systems go to great lengths to spy out those who are “not of the body,” to convert, control, or failing that, to eliminate them. They build secret political police agencies like the NKVD, KGB, Gestapo, Stasi, and yes, FBI and DHS. They also build walls to keep people in, to prevent them from voting with their feet. These used to be made of concrete and steel like the Berlin Wall, but these days we are beginning to look at virtual walls created of surveillance cameras, computer databases, voice prints and facial recognition software, all marketed to us on the false premise of “counter terrorism.” Thus rises the “soft tyranny.”

    http://sipseystreetirregulars.blogspot.com/2011/11/between-rattlesnakes-

  • http://www.planorperish.com/ Gutter Economist

    New World Order Plan for American Industry

    American industry came under discussion – it was the first that I’d heard the term global interdependence or that notion. The stated plan was that different parts of the world would be assigned different roles of industry and commerce in a unified global system. The continued pre-eminence of the United States and the relative independence and self-sufficiency of the United States would have to be changed. This was one of the several times that he said in order to create a new structure, you first have to tear down the old, and American industry was one example of that. Our system would have to be curtailed in order to give other countries a chance to build their industries, because otherwise they would not be able to compete against the United States. And this was especially true of our heavy industries that would be cut back while the same industries were being developed in other countries, notably Japan.

    And at this point there was some discussion of steel and particularly automobiles – I remember saying that automobiles would be imported from Japan on an equal footing with our own domestically produced automobiles, but the Japanese product would be better. Things would be made so they would break and fall apart, that is in the United States. so that people would tend to prefer the imported variety and this would give a bit of a boost to foreign competitors. One example was Japanese. In 1969 Japanese automobiles, if they were sold here at all I don’t remember, but they certainly weren’t very popular. But the idea was you could get a little bit disgusted with your Ford, GM or Chrysler product or whatever because little things like window handles would fall off more and plastic parts would break which had they been made of metal would hold up.

    Your patriotism about buying American would soon give way to practicality that if you bought Japanese, German or imported that it would last longer and you would be better off. Patriotism would go down the drain then. It was mentioned elsewhere things being made to fall apart too. I don’t remember specific items or if they were even stated other than automobiles, but I do recall of having the impression, sort of in my imagination, of a surgeon having something fall apart in his hands in the operating room at a critical time. Was he including this sort of thing in his discussion? But somewhere in this discussion about things being made deliberately defective and unreliable not only was to tear down patriotism but to be just a little source of irritation to people who would use such things. Again the idea that you not feel terribly secure, promoting the notion that the world isn’t a terribly reliable place.

    The United States was to be kept strong in information, communications, high technology, education and agriculture. The United States was seen as continuing to be sort of the keystone of this global system. But heavy industry would be transported out.

    One of the comments made about heavy industry was that we had had enough environmental damage from smoke stacks and industrial waste and some of the other people could put up with that for a while. This again was supposed to be a redeeming quality for Americans to accept. You took away our industry but you saved our environment. So we really didn’t lose on it.

  • rxgary

    and just who was it that gave us this new world order? maybe g h w bush and company need to be rewarded for all they have done for america.

  • http://markwandreysbooks.wordpress.com/ Mark Wandrey

    Slurp, slurp, slurp. How’s that Koolaid taste, Rxgary? How many treaties have Clinton and Obama signed, supported, pushed for? Get real, the repubs and dems are both free trade loving assholes.

    Free trade=all their shit comes into the USA duty free, while they tax the hell out of our exports.

    • Rockclimber

      Obviously rxgary has no clue who runs this nation and has especially since 1913, that is to say the international bankers and then the corporations who are bribed by the lobbyists. For starters we must end the Federal reserve, place limits are usury and have a gold backed currency, dollar for dollar, if not: treason. The FED must be wrote about in the history books as one of the worst evils the world has ever seen, private bankers printing money out of nothing and then charging interest to we the people. The IBs care only about money and fund both sides of wars. Never again should we have a private central bank. That’s at the heart of this global order, it’s their game, it’s what they want…

  • Glen S.

    Think about this America when it is your turn to vote, we need a radical non-republican, non-democrat in office. Both parties have equally destroyed the country.

  • Joe

    “The April 17 edition of the Dayton Daily News devoted many columns to the issue of jobs. The issue of jobs or the lack thereof was only partially explained. The root cause of our jobs catastrophe is the trade deficit. We have exported millions of jobs through the deficit. Our current trade policies are built on “free trade,” a theory originally formulated by Adam Smith. Now, many years later, various versions of it are still being peddled without evidence that it works. Now we have evidence. The evidence indicates that the theory doesn’t work. When the data contradicts the theory, we throw out the theory, not the data.
    Instead of greater wealth for all nations, the United States has enormous and growing trade deficits now, averaging $788 billion per year.” http://www.daytondailynews.com/opinion/its-time-to-end-folly-of-free-trade-1152520.html

    What has been the result of the “free trade” that was supposed to reduce the size of the Federal government by removing the “protectionist” trade regulations of 1789 to 1975?

    A massive transfer of prosperity from middle class Americans to the “Ruling Classes” of the world and their US counterparts, not world employees.

    1 in 7 Americans living in poverty. They have no choice but to accept Federal and state government assistance to survive. Dependent on their government for food, housing, clothing, education, healthcare and the essentials of living. Not because they are unwilling to work, but because “free trade” has decimated the traditional middle class work places through outsourcing, insourcing, “productivity” [having 1 person do the work of 2 for low pay and no benefits], and illegal immigrant employment competition. Lost revenues resulting in Federal and state budget deficits. The Feds have been pushing “Soviet style healthcare” through against the will of the people. Millions of Americans have lost their homes. It is becoming increasingly difficult for the vast majority of young Americans to own anything of value.

    To administer the distribution of the communal funds, mostly taken from what is left of the middle class as taxes, the Federal government has been steadily increasing in size since the 1990’s [millions more Federal employees with the associated control of citizens’ lives]. Of course, taxes upon the wealthy and corporations have steadily declined through loopholes over the last 30 years, leaving a fantastically wealthy Oligarchy of State Capitalists, who built their financial empires through “free trade” agreements, running the United States.

    Roughly 84% of the national manufacturing trade deficit and 16% of the US national debt belongs to Red China, we are being colonized. Countries we have large trade deficits with are colonizing America [Mexico]. Colonial peoples are prevented from manufacturing, because that leads to independence and self reliance. Colonies ship food and raw materials to their masters.

    It is 35 years past time to realize “free trade” is only practiced by the US to loot the middle class. The entities that overturned the Founders economic plan include: multi-national corporations, foreign lobbyists, the free trade front “institutions” CATO, von Mises, Hoover, etc.

    140 other nations protect their economies thru tariffs, Value Added Taxes, border duties, currency manipulation and other tricks. Here is a link that provides up to date info on the taxes other countries place on imports:
    http://www.export.gov/logistics/eg_main_018142.asp

    While we give away our prosperity thru no tariffs or VAT: http://hts.usitc.gov/

    The US already has no significant tariffs or VAT. The “free trade agreements” are just more special interest enrichment schemes, taking advantage of the US populace.

    What nearly every other country in the world emulates to protect their industry bank accounts and way of life:

    The American School, also known as “National System”, represents three different yet related constructs in politics, policy and philosophy. It was the American policy for the 1860s to the 1940s, waxing and waning in actual degrees and details of implementation. Historian Michael Lind describes it as a coherent applied economic philosophy with logical and conceptual relationships with other economic ideas.[1]

    It is the macroeconomic philosophy that dominated United States national policies from the time of the American Civil War until the mid-twentieth century[2][3][4][5][6][7] (closely related to mercantilism and prior to Keynesian economics, it can be seen as contrary to classical economics). It consisted of these three core policies:

    1.protecting industry through selective high tariffs (especially 1861–1932) and some include through subsidies (especially 1932–70)
    2.government investments in infrastructure creating targeted internal improvements (especially in transportation)
    3.a national bank with policies that promote the growth of productive enterprises rather than speculation.[8][9][10][11]
    It is a capitalist economic school based on the Hamiltonian economic program.[12] The American School of capitalism was intended to allow the United States to become economically independent and nationally self-sufficient.

    http://en.wikipedia.org/wiki/American_School_(economics)

  • Tom

    How we got where we are is complicated. There is a lot of blame to go around, government policies, big business and union executives. Everyone has an agenda that boils down to greed. Everyone wants more money and more control. Emerging nations such as China also want more of everything. If everyone digs deep and listens to their inner voice they will here the word more. So that’s the problem, what is the solution? I have no idea.

    • JMorcan

      Complicated? What’s complicated about corporations using cheap Asian labor to circumvent the higher costs inherent to more highly developed economies? I predicted this collapse following my first trip to China in the mid ’90s, and people like Ross Perot and James Goldsmith predicted it well before that. This is simple economics; trade is only good for the seller, and the U.S. should never have allowed a deficit with any country in excess of a few percent. If other countries want to export into our markets, they should be required to import a like amount. If they can’t afford to do that, too bad.

  • Steve

    Every bit of this nightmare was predicted by Henry Ford, Sr. in that famous book he wrote back in the 1920s – in which he tried his level best to warn his fellow countrymen what would happen to our nation if we allowed a certain group of well-known, well documented, nation-wrecking Internationalists to seize control over our country.

    In fact, I am would be willing to wager that the rapidly decomposing dung heap of a country which was once the envy of the entire world – back when it was 90% White European and which was also when it was at the pinnacle of it’s prosperity and success and social cohesion – will one day be recorded as the biggest heist that the Internationalists ever engineered.

    Suicide of a Stupid Power, indeed, Mr. Buchanan.

  • http://incogman.net Jeff Clark

    We are exactly where Ross Perot warned us we would be, “ a huge sucking sound of our jobs and industry leaving America”. I just called my Congressman Peter Roskum who defends the expansion of NAFTA, Globalism, and Free Trade. The boilerplate letter he sent 11-15-11 would have you believe expanding free trade agreements with Colombia, Panama, and Korea are Good For You. The continued surgical additions and removal of key parts of legislation to benefit the men behind the curtain against the United Sates and her people is pure TREASON. The Tree of Liberty calls, when will you answer?

  • Antonio Gonzalez

    The free trade is good for all the world before, and amricans killed
    anywhere for free trade. Then now is nort good for America.

    Free trade is a free world for all the people obver the world.

  • mark chan

    Globalization, free trade, free markets, etc., have been advaocated and pressed through by America. Countries subscribing to this spirit have all gained something and lost something but at the end the global economy has expanded nicely. All countries can complile a list of damages they suffer because of globalization and free trade and so can Amercia. Most of America’s problems are home-made and it has only itself to blame. Has anybody asked why Germany has never gutted its industrial might during this process of globalization and free trade?

  • Paul

    It’s cheap at Wal Mart.

    So what do you complain about?

    The state pays you, you can do nothing all day and everything is cheap. What more do you want?

    The root cause of all those problems is the hunt for profit. And if there is more profit to be made by selling ammunition to the US State than by making cars in Detroit, then the profiteers will sell ammunition to the US state and close car factories in Detroit.

    And as long as transportation costs + Chinese labor costs are still cheaper than american labor costs, products will be made overseas, because there is more profit to be made.

    Now we slowly come to the point, that there are no more buyers left in America, because they all have lost their jobs. To increase profit, the consumer credit was created.
    Companies can still sell products, and get paid for by the consumer credit, which is basically a sign-in into slavery. And since debts can be inherited by the children, the profiteers not only own the life of the original debtor but also that of their children.

    And this can be made even easier if the state is held as the debtor. Then all tax payers current and future are owned by the profiteers. From time to time some of all that surplus money has to be changed into Gold, and then the Gold price is shooting through the roof. And gullibe citizens fork out their last penny to pay stellar prices for that Gold, which is worthless to them at any rate.

    You want to change anything, you need to change the system. But do you want that?

    And what is then?

  • workingclass artist

    Of course Unions had nothing to do with the decline right?

  • CLARENCE SWINNEY

    America is tracking the trend line to End Of Empire laid by
    Rome-Spain-Holland-England
    Over extension worldwide on Debt.
    Small group own most of the wealth
     
    10% own 70% net wealth  80% own 15%
    10% own 70% financial wealth  80% own 7%
    10% take 50% individual Income  50% take 13%
     
    70/15  70/7  50/13  = 190/35

    Simplistic– clear picture—can you see it? Congress cannot! White House cannot!

    Each of 10% own $7 of net wealth and each of 80% own $0.18
    Each of 10% own $7 of financial wealth and each of 80% own $0.09
    Each of 10% take $5 of individual income and each of 50% take $0.16
     
    $7  to  18 cents ratio: 700:18
    $7 to 7 cents 700:7
    $5 to 16 cents 500:16

    Is that not a picture of Third World Country?
    Is that not a picture of England in End of Empire?
    Is that not a picture of a Dictatorship
    I cannot paint a clearer picture but sadly our president is too busy preaching to his choirs
    The members of congress are too busy counting $$$$$$$$$$$$$ from Wall Street.
    Ministers of America $$$$$$$$$ Got Your Tongues?
    Where are our leaders? Counting $$$$$$$$$$$$$$$$$$$$$??????
    If my numbers are wrong advise

  • CLARENCE SWINNEY

    WRECKONOMICS II REV 7-12-10
    COURTESY :WALL STREET OF AMERICA
    LEADERSHIP VIA CONSERVATIVE POLICIES
    THANKS TO RONALD REAGAN AND G W BUSH

    From 1946 to 1980 the period was known as the GREAT MIDDLE CLASS YEARS
    Each President worked to reduce the Debt from WWII.
    In 1980 Debt was less than 1000 Billion and Government Spending was 600 Billion per year.

    Reagan boastful Cut Taxes plus Cut the size of Government was a Trojan Horse, per his OMB Stockman, to cut Taxes for very rich.

    Reagan was Governor for 8 years during which he increased Taxes on many items.
    He increased the state revenues more than any predecessor.
    By Far. Cutting Government? Ho Hum. Blarney Baloney once more.

    Reagan policies increased Spending by 80% .
    Debt by 186%.
    9-30-81 Debt was $999.9 Billion and 9-30-89 at $1,859 Billion
    Conservatives use Spin: It was Congress.
    From 1930 to 1980 we spent $6066 Billion.
    Reagan 8 Budgets totaled over $7000 Billion.
    Congress? Ho Hum.
    Blarney Baloney.
    Congress returned Reagan 8 budgets for his signature with
    fewer total dollars on them.
    Haynes Johnson in “sleepwalking” said Reagan administration was “most scurrilous in history”
    138 were investigated /charged/fined. More than total for all preceding Presidents in 20th century.
    There were scandals in 27 Departments of the Federal Government.
    Most involved money fraud.
    The book “Ronald Reagan-There he goes again” documents over 300 incorrect statements by good old Ron.
    Each President from 1945 reduced the Debt then came Spend-Borrow Reagan
    to increase government by 80%.

    THEN-Here comes GHW BUSH.
    No braggart here. Nice Gentleman.
    He increased Debt to $4411 Billion.
    A 54% Increase.
    Give him credit for increasing Tax on Rich due to out of control Deficits.
    He had courage to put America first over ideology and party.

    THEN-Pay your Way CLINTON ARRIVES
    The Debt on 9-30-1993 was $4411 Billion.
    The Debt on 9-30-01 was $5807 Billion.
    An increase of $1396 or 31%
    He ended with a surplus.

    HERE comes old King of Spend-Borrow GW BUSH
    Debt was $5807 Billion and on 9-30-09 it was $11,909 Billion.
    105% increase.
    Reagan-186%
    Bush I-54%
    Clinton-31%
    Bush II-105%
    Reagan-Bush I-Bush II did not pay down a penny of debt in 20 years
    Those Three Famous Conservatives added $10,946 Billion to our Debt.
    Three so called Famous “conservatives” promoted cut government
    Up = Down to them.
    INTEREST ON DEBT
    9-30-81 to 9-30-09 we paid $8400 Billion in Interest.
    87% Interest Paid on Debt incurred by the Famous 3.

    Is it not possible(no) that without Reagan + Bush Tax Cuts we would enjoy a Surplus?

    REDISTRIBUTION DOWN TO MIDDLE CLASS
    Increase Unearned Income Tax to 40%. Make Gamblers pay.
    Increase Top Income Tax Rate to 40%
    Increase Estate Tax big time big time biggie
    Eliminate Loopholes on Corporate profits—Set a Minimum
    2008 -16% average payment-(top rate 35%)

    In 2003 distribution of corporate profits by CBO report revealed
    Bottom 80% of Income earners got 8%–Top 5% got 67%—Top 1% got 49%
    2009 Tax Return of Exxon pays no tax on billions in profits. Wrong. Sad.
    2007—Exxon paid no tax. Got a Refund.
    2010—Exxon Profit 45 Billion. Let us see if pay a tax?
    Renew Revenue Sharing to return cost to rich from middle class

    Clarence Swinney
    Political historian since 1991 on Reagan-Clinton-Bush II administrations.
    Lifeaholics Of America — old n ugly but honest mad mad mad at Inequality in Amrica
    Author-Lifeaholic-Work for a Life not just a Living—Workaholic to Lifeaholic
    Author-forthcoming– title not decided—How Democrats created a Great Middle Class and Wall Street Rich Conservatives are determined to destroy it
    Many Stats from 12-6-09 polidose.com article by John Lucia “The National Debt:Betrayal and Devastation
    Comments and corrections welcome

  • CLARENCE SWINNEY

    DEBT REDUCTION

    My Top Down Cost Reduction has saved many millions for mfg corporations.
    Ranked by some top consultants as best in America ( not Japan).
    Result of studying Japanese programs.

    EXPENDITURES

    It is simple. Go after 20% that are 80% of Expenditures and in Revenue
    In expenditures go after 5 that constitute 8% of expenditures
    Defense—Social Security—Medicare—Medicaid—Interest
    So many waste time on PBS $$ and Coburn Waste Book of junk.
    Let clerks handle 80% that make up many hundreds of items but only20% of $$$
    Every Expenditure has a Patron = a battle.

    REVENUE

    Total National Income is 12.000B (rounded)
    About 10,000 In Individual Income and 2000 in Corporate Profits
    We have in recent years been taking “about” 20% of that total income
    It takes 32% of “all” income to cover a 3800B budget.
    We borrowed the difference.
    In order to pay our way it takes 32%.
    Flat 32%? Ha. Try selling that?

    50% or 70,000,000 get 87% of Individual Income.
    In 2008 paid about 10%. Try selling 32%?
    Bottom 50% of 70,000,000 got 13% not enough to make a dent

    Corporations had $1830 B Taxable Income in 2008 and paid $230.2B or 12.6% rate off a top rate of 35% which they use to scream cut our tax cut our tax highest rate in world. Is we dumb?

    Those numbers are why we rank, in oecd nations, as third least taxed and corp rank second least taxed plus in bottom 5 on equality vs top 5 in 1980.

    1945-1980, we Taxed Hi Income to Pay our way.. Hi growth years. Middle class prospered.
    Reagan began redistribution with 60% individual tax cut for top1% who had 281% increase in after tax income in 1980-2007. Busheloon topped him.

    Several studies show that were we to remove all deductions of individual and corporations
    we would need to tax “only” 1800B for a Flat Tax of 15% on individual and corporate incomes.
    Each deduction has a patron! Fight.

    Reagan increased Spending by 80% (Bush 92%)and Debt by 180%(Bush 112%)
    I ask only prove me wrong with facts – numbers not opinions I will change
    clarence achmed swinney-olduglymeanhonestpoliticalhistorian lifeaholics of america

  • CLARENCE SWINNEY

    Clinton to Bush to Obama
    Who Dug the Deep Hole? Who Fumbled the ball?
    Numbers rounded

    Clinton left Bush an 1800B Budget
    Bush Left Obama a 3500 Budget

    Clinton left Bush a 240B Surplus as far as the eye can see
    Bush left Obama a 1400B Deficit as far as the eye can see

    Clinton left Bush 5,700B of Debt
    Bush left Obama 11,800B of Debt

    Clinton left Bush a 237,000 net new jobs created per month
    Bush left Obama a 31,000 lowest number since Hoover.

    Clinton left Bush 17 Million Manufacturing Jobs
    Bush left Obama 11 Million Manufacturing Jobs

    Clinton left Bush a 10,800 Dow
    Bush left Obama an 8028 Dow

    Clinton left Bush Peace on Earth Good Will From Most Men
    Bush left Obama Hell on Earth Two disastrous wars. Enmity of 1500 Million Muslims

    Clinton left Bush a President most highly rated of any peacetime President in Asia, Africa, Europe.
    Bush left Obama the most hated President in history
    Bush left Obama an Housing Tsunami and Financial Volcano
    Bush left Obama, in 2008, an 8500B Bail out commitment Yes! 8500 not just 700
    Bush left Obama his Takeover of Fannie/Freddie, AIG, and first bailout of Chrysler
    Bush increased maximum loan by Fannie/Freddie from $300,000 to $729,000
    Bush increased FDIC maximum deposit coverage from $100,000 to $250,000
     clarence swinney–political historian–lifeaholics of america burlington nc
    author-Lifeaholic–Life story of Workaholic failure to Lifeaholic success
    Best seller list in haw river nc population 200 and growing
    comments welcome

  • Paul

    If Clinton increased debt by 31% he didn’t end with a surplus.

    If neither Democrats nor Republicans can handle money, why do you always give more power to them?

    Is there nobody else in your 300 million people who can handle money? Some housewife, bringing her 5 children through school and university?

    Really nobody?

    Then you are really a poor country not worth living in.

  • JMorcan

    Many of us know what’s wrong. We understand that emerging Asian economies are incompatible with ours. We also know it’s too late to fix this. China has more then $3 trillion in foreign reserves, and can decapitate the dollar at will. Most of the West will be wallowing in third-world poverty in not too many years, and there is nothing we can do about it. Blame the politicians for selling us out. Blame the multinational corporations for their economic treason. Blame yourselves for disrespecting your country and buying cheap Asian junk. Everyone involved will eventually get what they deserve. My only regret is that those of us who have railed against this for the last 25 years are being dragged into the dirt with you.

  • http://www.survivalboards.com/ Kevin

    I grew up in southeast Texas, close to Beaumont, Orange and Port Arthur. Its an area that had several shipyards, and dozens of smaller welding shops.

    In the early 1980s when most of our oil production was sent to OPEC, a couple of the shipyards shutdown. When the yards closed, somewhere around 10,000 people were laid off.

    The effect was so devastating the the economy of southeast Texas, it might have taken 20 years to recover.

    Now that what happened in the 1980s and compound it all across the nation.

    On top of that, there is the loss of skilled labor. It can take a person years to learn how to weld and work metal. Tens of thousands of shipyard jobs have been lost, and that knowledge has been lost.

    If the US ever goes into a war with China or Russia, we are going to have a rough time retooling to make weapons of war.

    Not only have a lot of our factories been closed and demolished, but a whole generation of skilled workers has been lost.

    • Michael

      Good comment.

      Michael

  • LeRoy

    Reading all these responses has been entertaining and, I must say,a little sad. Everyone seems to believe our current state is due to someone else mistakes or misdeeds. There is not many Americans who do not look for the lowest price when shopping. If the Chinese, Germans, Koreans, etc, produce a product that is perhaps inferior but lower in cost than an equivalent American made item, which would you purchase with your hard earned money?
    The only possible solution to our current economic situation is to STOP purchasing foreign made items, ALL foreign made items. And bite the bullet and pay more for items made in the U.S..
    While ideal, a balanced trade will never happen as long as the American public only thinks about their individual desires (which I never see an end to) and the politicians we elect continue to think only about themselves and extending their ‘public service careers’ instead of what is best for the people of this country.
    DO YOU REALLY WANT TO DO SOMETHING ABOUT THIS? Simply STOP buying products made in China, Mexico, Germany, or any other country. Look at the label for the ‘place of manufacture’ and only buy if you find ‘Made in America’.(Look out Wal-Mart.) If you want to get really serious about it, investigate the ownership of the company that made the item and only buy from an American owned company located in America (a lot of companies from overseas are manufacturing goods in the U.S. and a lot of ‘American’ companies are making goods overseas and importing them under the guise of ‘American made’).

  • Alice Maxwell

    What is happening is not unique to America…it has happened to every Western nation. Why fills thousands of theses every year as more and more “minds” commence to fill the void of thinkers as collective intelligence turns more and more to “where is mine?”

    The Industrial Age is less than two hundred years old and has produced an atonishing number of products utlilyzing the best of science (so far) and the best of manufacturing techniques. The real problem is that since the IA has become a machine age, humans who work in it and run it have become afraid of it.

    The reaction to this is normal. Where has the human element gone? We should sit down and smell the flowers more. Is this really what Man is all about? The post IA has produced a fully international response in all this. Replace humans with robots and if that isn’t available or feasible, well, let other less educated humans do the constant monotony of work required. We set it in motion and they can continue it until they find others to do it for them.

    This is what your complaint is all about. Having decided that the West is so advanced we should not labor, let others do it. We have created a society which thinks anything can be done by pushing a button, programming a sequence and that’s it…let’s have Fun! So long as the money was rolling about, easily accessed with credit cards etc, even without jobs, well what a great way to live!

    So what has happened to make you all so angry, crying out against “elites” who have run it all into the ground? Well, you have been busy spending billions on entertainment, sports, work clothing made chic with other people’s name embroidered all over it, wearing workmen’s sandals and smoking…not cigarettes (they’re bad for you) but enjoying pot at five times the cost!

    Not only do you blame the “elites”, you now are angry with China, a nation of peasants who only know work! You acquiesced as obsolete factories and machinery were sold to them. You didn’t want to work in them and getting rid of them was good to restore the environment! Nature could reclaim where once they were!

    The only reason any of you are complaining now is that suddenly the money is hard to come by from parents, mentors, and getting a job is the alternative to making a fortune with the computer which suddenly does not make money for you but lo, you are not skilled for the jobs, you don’t know how to work.

    Get with Life. So there are 15% of unemployed in the USA, but that leaves 85% still working! 30% of mortgages are underwater but that leaves 70% still above it. The real problem is not yours at all but the older workers. All the losses in investments have compromised their savings, their security for their old age. they can’t work through their problems again. they don’t have the health, the strength, the time to recoup!

    No one under the age of 40 has a problem in ths country. You have education, an environement that recognizes ability and a financial structure that still disseminates wealth, albeit in small doses, to anyone who knows how to use it, enhance it. You even have parents who have paid off their mortgages and if you have to go home for a spell, will give you breathing space to come up with innovation to improve your lot!

    You all have a choice…be the Master or be the slave…being a victim doesn’t get you any place…in fact makes you an “occupier”.

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  • RPW

    “Yes, a devastating financial collapse really is coming.”

    I have seen what is important to Americans change thrice in my lifetime: (1) National Pride -> (2) Technology and Human Progress -> (3) Money -> (4) Political Power.

    What we are going through now is trying to get those into political authority who can overpower those who came into power over the money system during that period when ONLY money mattered, who have done nothing but damage to our economy, quality of life, and survivability as a nation.

    I am surprised to find so many articles which are really proposing nothing more than a throwback to the second era of ‘60s and ‘70s when technology and human progress were priorities on Americans’ list. That era was squashed by money-makers who raped the real economy and eliminated progress (which they made a dirty word). Now we are in a fourth era, trying to get the money-thieves out of power so we can stop them from destroying what little national foundation we have left.

    Now we are in the fourth phase since I was born, and it is all about the political power to eliminate the money-thieves from social authority so we can recover from all the crises they have created.

    Like the previous phase, which did not end until a single ideological group controlled all the money, this fourth phase will not end until a new ideological group eliminates them (money-thieves) from power and takes full political control. We are in the midst of that struggle now to establish the power of a new political authority.

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  • Ray

    It looks like the USA is being setup to be taken over at sometime in the future. You maybe surprised who the real enemy is….

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  • Steve

    In 1961 Dwight Eisenhoweer warned about the Military-Industrial Complex. Today, 50 years later, we now have the BCEMP Complex, i.e. banks, corporations, employers, military men and politicians. The banks get rich by printing fiat money and laundering drug money. The corporations get rich by fraud and lobby bribes. The military men get rich by waging endless wars and engaging in illegal drugs and arms tarde. The politicians get rich by bowing down to their financial masters. And employers get rich by outsourcing jobs, hiring H1-B visa workers and eventuially automating all these jobs. Meanwhile the Middle and Lower classes watch helplessly as jobs are destroyed, wages stagnate into wage slavery, student debt soars as students train for jobs that are destroyed while they are in school, professional guilds (i.e. law and medicine) reject 90% of all applicants, and prices rise while income drops. This is classic class warfare.

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  • http://naturalskills.wordpress.com Connor O’Malley

    If you knew how to survive with zero modern tools then you’d never worry about this stuff. Visit naturalskills.wordpress.com to learn how.

  • Sei

    @Gonnor o’Malley: I worry not because I cannot survive, but because I have a love for my country and the people who live within it. I hate the evil ones in this nation who live only by destroying the weak. These are the true bastards, the villains, and contain more wretched bile in their souls than the most committed terrorist ever has. I could leave. I could flee to a land that is safer, calmer, less turbulent than this one. But that would be abandoning my people. I will stay and fight this, until the evildoers can no longer do so much harm.

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