The Beginning Of The End
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Economic War

Most Americans have no idea what an "economic war" is, and even fewer realize that economic warfare is being waged against the United States right now.  For generations, it has been drummed into our heads that "free trade" is always a good thing and that truly free trade will always benefit both sides in the long run.  None of our universities teach that trade can actually also be used as a brutally effective weapon of warfare and that economic warfare can bring down entire societies.  Nowhere in the mainstream media will you even get a hint that other nations are purposely trying to damage the U.S. economy for their own benefit.  But in a world where a "shooting war" with the United States is virtually unthinkable, those that wish to damage the U.S. must resort to other means to accomplish their goals.

The American people need to wake up and stop being so naive.  The truth is that much of the rest of the world absolutely hates our guts.  They resent our dominance and they are tired of us imposing our will on the rest of the globe.  For generations, Americans have been taught to view themselves as "the good guys", but the sad fact of the matter is that most of the rest of the world does not view us as "the good guys" anymore.

In fact, there are quite a few nations out there that would actively like to do us harm.

So if they can't shoot at us, then how can they harm us?

Well, they can try to destroy us financially and economically.

Today, major exporting nations around the globe are draining the United States of wealth, they are stealing our industries and they are feeding our national debt addiction.

For some of these nations, they may not actively want to destroy our economy, but they sure do want to steal what we have got.  They are more than happy to keep trading with us as long as they keep getting wealthier and their national economic infrastructure continues to get built up.  The fact that their economies are getting stronger at the expense of the U.S. economy is not really a huge concern for nations in this category.

However, there are also quite a few nations that do actively wish to do harm to the United States.  If trading with the United States will cause the U.S. to become poorer and to go into more debt, then that is a tool that they can use to reduce the power and influence of the Americans in the world.

Is this something that really happens?  Yes.  Do yourself a favor some time and read some economic articles and research papers from the other side of the world.  In some of these countries they are not afraid to openly talk about economic war.

So what are some of the goals of economic warfare?

Well, when it comes to the United States, the goal is to induce big corporations (or even entire industries) to leave the U.S. and set up shop somewhere else.  The idea is that the economic infrastructure of the United States will decline while the economic infrastructure of the "attacking nation" will be built up.  The jobs and wealth creation that once were a benefit to America will now benefit someone else.

Another goal is to transfer wealth from the target country (the United States) to the attacking country.  Each month the United States buys tens of billions of dollars more stuff from the rest of the world than they buy from us.  Each month we send them big chunks of our national wealth and they send us oil and cheap plastic trinkets which we greedily consume.  As this continues month after month after month, the rest of the world is getting richer while the United States is becoming poorer.

In a desperate attempt to maintain our standard of living, our federal government, our state governments and even our local governments are going into insane amounts of debt.  Debt is another tool of economic warfare.  As we continue to borrow trillions of dollars from the rest of the world, the ability of the United States to exert power and control over those nations diminishes.

The eventual goal of waging economic warfare against the United States is to make us so impoverished and so far in debt that our entire financial system crashes.  If the U.S. experiences a "financial armageddon", it will greatly reduce America's place in the world.  It could ultimately lead to the collapse of the U.S. government.  Other nations (or organizations) that wish to have more power would then be able to fill the void that would be created.

So what are the tools of economic warfare?

One is currency manipulation.  By keeping national currencies at an artificially low level, major exporting nations make their own exports much more attractive, thus stimulating job growth and wealth creation in their own nations.

Another tool of economic war is government subsidization of industries.  Virtually all governments do this to some degree these days, but some take it much farther than others.

For example, there are some governments in Asia that will openly pump huge piles of government money into industries that are considered to be of "national interest".  There is simply no way that western industries can compete on an equal footing against that kind of unfair advantage.

In the United States, companies face one of the highest overall tax rates in the world, they face mountains of ridiculous regulations and they have to provide health care and retirement benefits for their employees.  But in other areas of the world the government takes care of health care for everyone, regulations are much less strict and corporate tax rates are much lower.

Is it any wonder why so many U.S. companies are having such a hard time today?

Another weapon of economic warfare is technology theft.

U.S. companies spend billions upon billions of dollars developing new technology that gets "stolen" one way or another by many foreign governments.

For example, there is one major Asian nation that offers huge tax incentives and kickbacks to big companies to get them to come over and set up shop there.  But these companies are also required to train and hire local workers and they must agree to certain "technology disclosures".

Well, after a time the host nation sets us their own "domestic competitors" using the technology that they have acquired from the foreign company.  Then the "domestic competitors" are tremendously subsidized and are given huge advantages that the original foreign company simply cannot compete with.  Eventually the "domestic competitors" become the dominant players in the market.

This is happening over and over and over.  Companies are shutting down operations in the United States and are opening up facilities in other nations where the labor is much cheaper, where regulations are not nearly as suffocating and where taxes are much lower.  However, once these other nations learn the technology and are able to set up "domestic competitors", the original companies are learning that maybe it wasn't such a sweet deal they were being offered after all.

As the U.S. is being stripped of industry and is being deindustrialized, the American middle class is being absolutely devastated.  Since the year 2000, we have lost 10% of our middle class jobs.  In the year 2000 there were about 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.  Sadly, the millions of jobs that have been sent overseas are never coming back.

Meanwhile, our national wealth is being drained from our bank accounts.  Back in 1985, the U.S. trade deficit with one particular Asian nation was just 6 million dollars for the entire year.  But for this past August alone, the trade deficit with that same nation was over 28 billion (that's billion with a "b") dollars.

In other words, the U.S. trade deficit with that one Asian nation in August was more than 4,600 times larger than the U.S. trade deficit with that Asian nation was for the entire year of 1985.

So how are we maintaining our high standard of living if we are shipping all of our wealth overseas?

Well, what we are doing is going back to all those nations where we have sent our wealth and we are begging them to loan it back to us.

Our federal government now owes trillions of dollars to major exporting nations.  Our state governments also owe insane amounts of money to major exporting nations.  We are in debt up to our eyeballs and it gets worse every single year.

Meanwhile, our national economic infrastructure is being absolutely ripped to shreds....

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

*The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.

*Since 2001, over 42,000 U.S. factories have closed down for good.

*As of the end of 2009, less than 12 million Americans worked in manufacturing.  The last time that less than 12 million Americans were employed in manufacturing was in 1941.

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

The sad truth is that the U.S. is being dominated even in very high-tech industries.  The major exporting nations are becoming rich by creating wealth and we are becoming poor by voraciously consuming wealth.

Unfortunately, some of the major exporting nations that we have a massively imbalanced trade relationship with are doing this to us on purpose.  They see our weakness and the are taking advantage of it.  They believe that it is in their own national interests to make the United States weaker.

Sadly, a very significant percentage of those that will read this article will not believe it.  Most Americans have been so brainwashed when it comes to trade that they could never even conceive that it could possibly be used as a weapon of economic war.

But the truth is that there are even many prominent Americans that openly talk of weakening the U.S. economy and of reducing the standard of living of the U.S. middle class so that we can be more easily merged into the emerging global economic system.

It is time to wake up.  The United States is under economic attack.

More jobs are going to leave the United States this month.  More factories are going to leave the United States this month.  Tens of billions more dollars of our national wealth is going to be transferred out of the country this month.  Our federal, state and local governments are all going to go into more debt to foreigners this month.

Month after month after month this goes on.  It is being done by design.

Perhaps when the entire U.S. financial system collapses the American people will finally begin to understand.  The truth is that the greatest threats to our national security are not some impoverished goat herders hiding out in caves in Afghanistan.  Rather, the cold, hard reality of the situation is that our national economic infrastructure is being ripped apart and stolen right in front of our eyes and we have become so dumbed-down that we don't even understand what is happening.

If you want to see "the future of America", just tour some of the formerly great industrial centers of the upper Midwest some time.  Ask yourself why "the greatest economy on earth" has so many abandoned factories and boarded-up homes.  There are many decaying communities across America right now that are so depressing that the moment you enter them you get the sense that all of the hope has been sucked right out of them.

The U.S. economy is under attack and it is dying.  We are being looted and pillaged from coast to coast.  This is really happening.

So what do you think about all of this?  Please feel free to leave a comment with your opinion below....

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  • http://brunolem.wordpress.com Brunolem

    “Rather, the cold, hard reality of the situation is that our national economic infrastructure is being ripped apart and stolen right in front of our eyes”

    Stolen by whom?

    It is not the Chinese who are coming to America and leaving with businesses in their suitcases.

    No need to look for a scapegoat, because there isn’t one.

    Americans have done this to their country.

    Not all of them, of course.

    Black sheep, one may call them “traitors”, have sacrificed their country for the greater good of… their own bank account!

    China is not a real economy.

    China is a tumor, grown from a form of cancer called “greed”. This tumor is destroying the American “body” and then it will destroy China’s.

    The tumor has been growing for 30 years and the pain it inflicts has now become unbearable.

    There is no way to remove it without serious damage and excruciating pain.

    Yet, it can be removed, with tariffs!

    The US and EU don’t need anything coming from Asia in general, and China in particular. They could manufacture themselves everything they import from these countries.

    They are dependant on the Middle-East, only because of corrupted politicians bought by the oil and gas industry. Even if that was to change, it would take a lot of time to switch from energy sources.

    Anyway, the necessary changes won’t happen, because the actual situation satisfies those in power, who are not Americans or English, but citizens of the world, with many passports, houses and bank accounts in many different countries.

    If one goes down, they will simply move to another one, just like industries does when production costs become too high in a country.

    Click on my name to visit my blog.

  • wong lo

    as long as folks keep spendin all their money at walmart and dollar general things are only gonna get worse.

  • David

    It’s going to happen whether we like it or not and total economic destructiion of the US is what it’s going to take to reawaken the slumbering giant

  • Flavius

    Besides a few token WTO complaints, there is no momentum in the US for trade tariff reciprocity. The pro-free-trade bloc consists of everyone from the Chamber of Commerce to the mineral and agricultural exporters doing business in China. There is an economic race to the bottom where factories in China are closing and moving to Vietnam, Indonesia and Nigeria to arbitrage wage inflation. Domestic wages are lowered and arbitraged by employers who can’t offshore their operations but instead quietly welcome illegal immigrants/ undocumented workers.

    Republicans want the cheap labor and Democrats want the votes. Unionization, marches and protests are now about as effective as trying to push a freight train with a wet noodle. The only scenario that I can see a seismic shift in US-China relations is a war. China’s closing of its ports to the US will force re-industrialization and re-investment. It will also allow the US to default on some or all of its debt under color of national emergency. National conscription will also soak up the unemployed.

    If there is no war, then the dollar will inevitably collapse and the parts of the US that survive are the areas that produce real resources like coal, gas, minerals and agriculture, not hedge funds or lawsuits. Those states will not be democracies but resoure-baronies run by mafiosi hierarchies of favors and influence. My best-case scenario is still pretty cynical: The largest holders of US debt form a creditors cartel and threaten no more Treasury purchases until we accept some IMF austerity program or Paul Ryan’s Roadmap http://www.roadmap.republicans.budget.house.gov/
    Time is on the side of international investment community in the age of electronic capital flow. Each passing year of voters rejecting austerity is another year of food and medicine shortages, until enough voters accept that getting 10% on the dollar is better than getting 0.

    Personally, I pray for plagues, an amoral agent that decimates people populations without war or discrimination to bring the planet’s population down to a more sustainable carrying capacity.

  • Gary2

    The big economic war is the war the rich have waged on the rest of us and as Warren Buffet said their side is winning. Just look at the stupid Republicans-record numbers living in poverty and all these fools can do is give more tax breaks to the rich. We need to turn the tide on the economic war the rich are waging on us and redistribute their (really our) wealth to all by taxing the hell out of them.

  • David

    Companies leave the US because US CONSUMERS make them leave by refusing to pay higher prices for US-made goods. No easy way around this, as developing countries with much lower standards of living have cheap labor. Are we going to have trade protectionism and tax imports heavily to make them less attractive? I doubt it—Americans *want* inexpensive goods. The coming implosion is OUR OWN DAMNED FAULT. Don’t blame government (we elected them, they do our bidding), don’t blame companies. Blame tight-wad Americans.

  • Dano

    I have said the same for years, now it is becoming readily apparent. We are being hollowed out by enemies, foreign and domestic alike. It is sad.

  • SC

    What other country has a middle class who expects a house with a 2-car garage, vehicles for every family member over 16, big screen tv’s and cell phones for all..

    I dont doubt we are under economic seige.. I do think however we are also seeing the end of our opulence that was purchased with the lives lost in WWII.

    We had a golden era coming to us for saving the world.

    That debt has been paid with the biggest 70 year party the world has ever seen and now we are at the beginning of a new era..the one where you look to our left..and see how people in Asia live.. you look to the right..and see how people in Europe live..and now the world looks at us and realizes something isnt quite right with this picture.

    I see the crash not as a failure, but more of an equalization. Problem is.. a lot of people dont get it..and wont understand when the standard of living looks more like the rest of the world and less like Disney Land.

  • ADP

    My comment is for EVERYONE who ever reads this to post it to as many places as you can, to as many blogs and facebook accounts as you can.

  • bobcat

    I worked as an electronics design engineer in industry for nearly 2 decades. I got out of it 15 years ago when it became clear that our electronics manufacturing industry was being dismantled and reassembled in China. Except for a few privately held niche operations, this entire industry is gone. It is perhaps one of the most dramatic examples of the de-industrialization of our nation. Corporate CEOs sent their operations abroad so they would receive large bonuses while the working people got pink slips.

    Contrary to Friedman’s propaganda, the engineering jobs vanished faster than the manufacturing jobs that preceded them. This happened despite assurances that getting rid of the dirty manufacturing work would free up workers to do “knowledge” jobs. Uhhhh, earth to Friedman: Manufacturing is what makes engineering matter. Engineering is the handmaiden of manufacturing! If products are to be built overseas, these products will be designed there. And that is what has happened.

  • bobcat

    The specious notion that companies leave the US because consumers refuse to pay higher prices for US made goods is a logical argument from a false premise, that being that consumers were actually presented with a choice of foreign and domestic products. Such choices were seldom available to consumers. These decisions were made behind closed doors in corporate boardrooms in Arkansas. The substitution was made on the shelf and the only choice the consumer was presented with was buy or do without.

  • reginald

    Yes, sadly the rest of the world is laughing at the U.S. Especially as they read articles like this and see Sarah Palin as a potential presidential candidate.

  • mondobeyondo

    An economic war may very well be this nation’s Achilles heel.

    After all, it’s very hard to eat nuclear weapons. They don’t taste very good, and they tend to be rather harmful to the human digestive system, and to humans in general.

    If our enemies can’t defeat us militarily (and they can’t!) – they’ll defeat us with the power of food and basic necessities. Even generals have to eat.

  • coldmug

    First of all, money is not wealth. Produce is. China does not have wealth because it makes so many shiny things. You do because you use those shiny things.

    Now for a refutation of the whole basis of your article.

    “One is currency manipulation. By keeping national currencies at an artificially low level, major exporting nations make their own exports much more attractive, thus stimulating job growth and wealth creation in their own nations.”

    This coming from the country that uses the Federal Reserve to print money and manipulate interest rates. They’re doing the exact same thing you’re doing. Who do you think they learned it from?

    “Another tool of economic war is government subsidization of industries. Virtually all governments do this to some degree these days, but some take it much farther than others.”

    Yes, virtually all governments do it, INCLUDING the US. Corn produced in the US is heavily subsidized. Fuel, “green technology”, cotton.. and lots of others
    http://en.wikipedia.org/wiki/Agricultural_subsidy#United_States
    http://news.mongabay.com/2009/0921-hance_subsidies.html

    Subsidized food from the US is what destroyed Haiti’s local food industry leaving the population to starve.
    http://impacthumanity.blogspot.com/2009/03/closer-look-at-haiti-and-us-continued.html

    Don’t be naive. The US invented economic warfare!

    The real reason for the US’ economic decline is exactly what you cling on to. It is the federal reserve, free and rampant loans, bad debt being sold as good, speculation and subsidies. You should seriously spend some time on http://mises.org/ and brush up on some real economics.

  • mondobeyondo

    Economic equilibrium in full effect.

    Those free trade advocates beat their chests and shout about what a great thing it is for the world. They are right.

    But in order to understand this, you have to recognize a few things:

    1) It is a great thing for many people, say for example, Thailand. Or India, Brazil, China, South Africa… just pick a country.

    2) It is NOT a great thing for America.

    3) America is not the world.

    Yeeesss… equilibrium (in deep Yoda-type voice).

    The free trade folks promised better standards for people in the rest of the world. They were right. Just ask the sweatshop worker in Beijing who earns $10 a day stitching those precious Nike tennis shoes for your teenage kids.

    But – once again – THE WORLD is NOT THE USA!!

    (Although Broadway in New York City has a better theater and arts scene than the Champs Elysee in Paris. Yaaay, something to be proud of!!)

  • Cherenkov

    The truth is, with peak oil and peak everything, industrial civilization is coming to an end. Does this mean tomorrow you’ll go out on your porch in your bathrobe only to find the world on fire? Of course not. It means that entropy, the dissolution of order, is beginning the process of unwinding the concentration of material and energy that western civ has so painstakingly built up over the last few hundred years. It means that trying to jump back on that dying horse known as an industrial economy is the last thing we want to do. Since the theft of this country, we have been working towards becoming a power to be reckoned with, and, with the end of WW2, the old economic powers in tatters, we took the lead an became that power. At this point, however, we have only two choices. We can either do what many other declining powers have done and cling to the old paradigm like an aging hippie with a pony tail and a bald spot, or we can take the lead again, using the relatively cheap energy and materials we do have to move us towards the inevitable post-industrial society that all of us are heading towards.

    The ones who want to cling to the old paradigm will ironically tell us that this the best possible world and that we must keep it because to not do so would be a return to a dark and brutal past. Yes, we who are effectively destroying the world believe this is best.

    No, the future is clear to anyone with a grip on basic physics. We live on a sphere. Last I checked, spheres are finite. Let’s act as if we had actually learned something from the enlightenment and act as if that undeniable reality had undeniable consequences and plan and act our way out of this social, economic, and industrial cul de sac while the getting’s good. Think of it as a pyramid scheme: we inflated the bubble and now is the time to slip away to enjoy the good life before we get caught in the crap storm. Let the other nations be left holding the bag.

  • flillor

    What a lot of rubbish. As if the neoliberal dogmas weren’t conceived by the US for economic dominion and to profit its own corporations and to extract wealth from other nations. When it impoverished other nations to your advantage you had no problem with it.
    Now that the holy cows free trade and markets don’t seem to give you what you want anymore you are ready to slaughter them. Now that some countries are trying to use the worthless dollars Americans were willing to trade for cheap goods the way they want you call it a war. Americans are just so stupid and have no clue about history that I am really afraid that if a hardliner would try to ride public anger on this issue (and call it a war) he might just succeed to have Americans do whatever he wants them to.

    Also I used to enjoy this blog for some stats on how bad things are for some people. But maybe you should hold back interpreting things too much because you aren’t very good in it.

  • Suetonious

    This article is a tremendous opportunity to identify exactly who the enemy is – and who it ain’t. This article identifies the competing nations – primarily those in Asia, as the culprits. Nothing could be further from the truth.

    I work and travel throughout Asia, and for the most part, the people in Asia LOVE America – and I’m the one that bums them out by telling them what our government has done to us and why we’re about to slip under the waves. Quoting from the above article:

    “Month after month after month this goes on. It is being done by design.

    Perhaps when the entire U.S. financial system collapses the American people will finally begin to understand. The truth is that the greatest threats to our national security are not some impoverished goat herders hiding out in caves in Afghanistan. Rather, the cold, hard reality of the situation is that our national economic infrastructure is being ripped apart and stolen right in front of our eyes and we have become so dumbed-down that we don’t even understand what is happening.”

    Yes, it IS being done by design. But by WHOMMMMM??? It ain’t China – or any other Asian nation. Picture this: Your government SWAT swarms into your garage, steals all your tools and then heads down to the poor areas of town to sell your tools off at a pittance. The word spreads far and wide: “Some friggin’ idiot is selling top-grade tools for like 5 cents on the dollar!” Of course the third world is going to rush to take what our government lays out for them at a pittance and on a silver platter. So, who ya gonna blame for that?

    Look at our government’s policies. You really think they’ve been innocent bystanders as all this treasonous wealth siphoning has continued apace? Do you really think they’re not in control of what’s happening? At what point are you going to quit thinking that this is mass incompetence or insanity on their part? Come on…. This is a well-thought out, multi-pronged strategy of deindustrialization, wealth siphoning and outright theft – by OUR government. The last time I checked, China does not have any reps in the US government, nor vulturish banks on Wall Street stealing the taxpayers’ blood and wealth – courtesy of the Fed. Time to wake up and see that things are infinitely worse than this article lays out.

    You need to realize that your government is finished with you. You’ve done your duty in pioneering technologies, developing industries and establishing the most profoundly successful economic powerhouse perhaps in the history of the world. But the true powers – the ones that own the US government, are now finished with America and moving their focus to Asia for higher profits and the next stage of consolidated global control. YOU are now an impediment to their plans. Therefore – YOU will be impoverished, sidelined and, if necessary – destroyed, if it’s worth the bother to them. Meanwhile, you tilt at windmills, thinking that your government works for you and cry to these very same oppressing minions for recourse against your mythical enemies.

  • Alice

    About 25 years ago I went to a printer to have some work done and he asked where I work. When I told him Wal Mart, he just about threw me out. His friend in New York had just closed his doors. He ran a screen printing business and Wal Mart was his bread & butter account. This guy did everything…hats, shirts, bags..you name it, he could screen print it. But Sam had died (not that Sam was any saint…he was a cut throat shrewd monster) and now his greedy children owned everything. They pulled the account and sent all the work to China. It wiped this guy totally out. And not just him but the THOUSANDS he employed. I no longer work at Wal Mart and it is pure joy not being there. I saw the huge changes taking place once the kids were in control and it became a form of totalitarianism and they are now helping Big Brother Home Land Security. They are part of the problem, not the solution. The Waltons are worth over $90 BILLION and have fully stocked under ground bunkers where they can live in full comfort for two YEARS. Shop there and you feed the monster that is eating you.

  • DM

    The problem is not China or other countries. The problem is not the American people. The problem is American leadership. When I say leadership I mean government, business, media, entertainment, religion, education, and family leadership–all seven areas of influence in our nation. The problem is greed and a love of money which leads to corruption of our leadership.

    The economy is the sympton. The problem is rotten leaders in all seven areas.

    Let’s place the blame where it belongs. Most Americans do not pass laws. They do not shut down plants. They do not hire workers in foreign countries. They do not lobby Congress with millions of dollars of campaign money to influence legislation.

    However, leaders in wealthy families, businesses, education, media do these things. They pass laws to shelter their wealth from taxes. They ignore immigration laws to hire cheap foreign labor in the U.S. They close plants in the U.S. and open plants in India, China, Mexico, and other countries. They pass laws to create legalized monopolies through patents, trademarks, and copyrights. They produce shoes in other countries for $16 a pair and sell them in the U.S. for $125 per pair.

    Don’t blame the American people. Blame the American leadership–all seven areas of influence–government, business, media, education, religion, entertainment, and wealthy families.

  • alice

    Right on ADP, We have to keep posting our comments about these affairs and spread the word as much as possible. Even some people in our own country want our destruction for their own reasons. We need to get our financial affairs in order at all levels. Balance budgets, cut spending, cut deficits, reduce taxes, no more income taxes replaced with import tax as much as necessary, stop the devaluation of our currency, no more borrowing. Anybody who disagrees, can be considered an enemy of ours! We must get serious about saving our country by the evil doers from within or without. The world is laughing at our decline, my heart is bleeding because of it. If our Socialism is benefiting you and yours only, and you like it that way, then you are not thinking about our country as a whole, and are selling out your country. UNITED WE STAND, DIVIDED WE FALL!

  • Michael2

    As far as I am concerned there are no winners among the Nations who think they are engaged in economic warfare with US. The real winners are those at the top of the food chain who run the giant banks and corporations who treat Nations like pieces on a chess board. The true elite hold no loyalties save for their own interests. They do not care about the Midwest or barren polluted, toxic wasteland in Pennsylvania. They do not care about human rights or the slavery taking place in China and in other 3rd World counties. They don’t care whose children live or die or who has a future and who does not. They only care about themselves and their off springs futures. There will be no winners in what is happening to the world. That includes the elite, although in their arrogance, folly and hubris they cannot see they have sewn the seeds of their down fall just as their predecessors had done in their time.

    Rolling Stone columnist Matt Taibbi said this about Goldman Sachs “The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates”.

    I am not a formerly trained economist but it looks to me like the elite at the top have all the Nations of the world and their people in debt and subservient to the IMF, World Bank and controlled by the WTO. All the world’s resources are monopolized and held in the hands of a few. There are virtually no industries or enterprises that are not affected some how by these few elite. What Nations are winning in this scenario? If there are or will be winners why is there possibly a global populace uprising brewing the likes of which the world has not ever seen? It is not a fantasy that protests, riots, bombings, death, terrorism, war, revolutions, counter revolutions, militias/survivalist groups growing and more insanity are going on across the world. The potential for unprecedented levels of chaos are palpable here in America as well as citizens are daily imploding. For instance a man went on a rampage at a school board meeting the other day and shot the place up, spray painted a circled V for the movie Vendetta on a wall and was eventually shot and killed. A while back another man flew a small plane into an IRS building. These incidents are growing and occur so frequently now that it is hard to keep track of them all. Women are killing their children, family members are killing family members, there’s road rage, violence in schools, violence in our vast and growing industrial prison complex, in the political machine, almost every where there are very angry and extremely disgruntled Americans. The list of indicators of the potential chaos to come grows almost exponentially. I don’t know who is so arrogant as to believe they will some how escape these trends. I am not sure what kind of world the elite think they want to be the sole masters of but their plans are bringing about what looks like a world that will be very hard, if not impossible to control and or PROFIT from.

    I prefer peace myself, in fact the reason I have long winded posts is because it is a release. Since I am not into protest marches, sit-ins, petition signings, calling Senator’s Office etc. I write posts and previously wrote at my own blog as a way to get things off my chest. Quite frankly along time ago I decided humans were not a species I wanted to sacrifice for. I really do not understand our species, nor do I see much about us that compels me to go to great lengths for. I see no nobility in our savage. In fact I have long thought that whoever or whatever removed our fangs, fur, claws and tail and thought we were no longer savage was sadly mistaken and quite likely should go back to the drawing board and soon preferably. I am hoping things will not get chaotic, I hope order and calm prevail but given the level of violence already happening in America, in the world and in our collective past it is hard to see things going that way. As a result just in case I have been preparing a survival cache, I have predetermined escaped routes, staying in shape biking, etc. I rather be on a high ridge or in a thick hollow in the Appalachian Mountains than endure a level violence more intense than is already occurring. And I certainly do not wish to end up in a FEMA camp or as prisoner in my own home under martial law.

  • http://wakeup.host-ed.net/ Andrew Smith

    Get real guys.

    Yes you may see it as war but you need to look closer to home when tying to point the finger.

    Facts are americans have become fat thugs going around trying to police the world with the military costs coming from tax payers and the profits from these attacks going, er , well we all know where.

    American started this game of double selling property deeds to hedge funds around the world and they have been thrown back in your face.

    Yes do wake up but it’s not the passive smoking from China that is killing you, its the cancer within and by that i mean all these politicans that have duel passports and are ready to flee when the american people finaly grow and pair and rise up.

    Feel free to vote for the left hand or right hand that will still be handing out a $hit sandwage in any case and saying its all the fault of china because its your own fault for not standing up and saying NO

    Click my name and look at the chart that shown the bigest bank in the world from 1999 and then scroll down and see the bigest banks today.

    Looks like the body is dead but the mind does not know it.

  • http://adelaar.belgium.be AdelaaR

    So basicly … what you are saying is that the whole disastrous situation of the economy in the usa is not your own fault but the fault of all of the rest of the world?

    Seriously?
    Are you on drugs?
    Have they fed you too much diet coke?

    Wake up and smell the coffee boy … your country has a political system that cannot cope with the world anymore.
    Change or be changed.
    You have the highest military spending and the highest incarceration rate per capita in the world … yes … HIGHER than even a severe totalitary regime like China!
    Still … you point your finger at the rest of the world and say: “they are at fault for our demise!”
    What’s the answer? Nuke us all?
    Time to wake up, amerika … and realise the fifties are behind us.

  • clark

    This was your worst article ever and wrong on almost every point.

    The tariffs and protectionist policies of mercantilism do not work, they never have and it’s Not what created the wealth of the American people in the first place, free trade did!

    You seem to confuse America with its government, they are not the same thing.

    How in the world do you think government increasing its debt is an attempt to maintain our standard of living? Such debt impoverishes the people and is a source for what lowers peoples standards of living, it has to stop.
    The Federal Reserve with its unlimited money supply and endless meddling (along with unnecessary government meddling) allows this and worse to occur, without the Fed none of this could go on as it has.

    When you say you are worried that a “financial armageddon” will reduce America’s place in the world it seems like what you’re really concerned about is the status of the government as World Cop and it’s ability to beat people into submission, you come across as being jealous of any country taking the spot rather than allowing people to govern themselves as they should.
    The U.S. goberment does Not need to be World Cop to defend the American people.

    When you say, “Companies are shutting down operations in the United States and are opening up facilities in other nations where the labor is much cheaper, where regulations are not nearly as suffocating and where taxes are much lower.” do you not see regulations and taxes as being the problem?
    This, along with the money creation of the Federal Reserve, is the major reason why “the greatest economy on earth” has so many abandoned factories and boarded-up homes.

    Please consider spending some time at mises.org to understand economics better, after all, they were the only ones who saw the housing bubble and its collapse before anyone else, same with the financial crash. Go there, please.

  • http://moneyedpoliticians.net Jack E Lohman

    This is an internal political corruption problem, not a foreign conspiracy to take our country down. It is American POLITICIANS — congressmen — who are willing to take bribes from the moneyed Fat Cats and give them a piece of America’s economy in return.

    Yes, we must reduce spending, but only spending on special interest giveaways and NOT Medicare and Social Security. Unless

    There is a solution, but it is vigorously opposed by the political elite that benefit from the existing corruption. The key problem is the way we finance elections. THAT got us here and nothing will change until we get the legal bribes (campaign contributions) out of politics.

    Nothing else matters. Fix the corruption first, then we can move forward with fixing the economy. But I do not want MY politicians taking outside bribes in the process.

    Nothing is going to change until we have public funding of campaigns. Politicians spend taxpayer dollars because they ARE PAID to spend taxpayer dollars, and robbing the SSI fund (as just one example) gives them the cash needed to attract campaign dollars.

    Our problem is NOT government, and it is not R’s or D’s. It *IS* that government is owned by the corporate interests that want in the taxpayer’s pockets.

    So nothing changes. We elect a new group of politicians and the Fat Cats simply re-direct their bribes as we continue down our spiral. Only a national revolution will get our attention, but then it’s too late. And all because our politicians refuse to stop the bribery they benefit from.

    If politicians are going to be beholden to their funders, those funders should be the taxpayers. And at $5 per taxpayer per year it would be a bargain. Even at 100 times that. We MUST demand that our senators and representative pass the bill at: http://fairelectionsnow.org/about-bill

    Jack Lohman …
    http://MoneyedPoliticians.net

  • Larry

    As someone else pointed out, we’ve done this to ourselves. This is more a case of shooting oneself in the foot than of being shot.

  • josephus

    No one has done this to us. We have done it to ourselves. We are not forced to buy plastic gimcracks from China nor arte we compelled to buy so much foreign oil. We could have begun getting off our oil addiction 20 years ago.
    The sad truth is that we are following an arc from growth to complacency to decline as so many other empires have done before us.

    The Chinese don’t really want their best customer to implode. They will regret our economic failure almost as much as we will.

  • http://survivalrealestate.com T.J. Jackson

    You are overlooking a very basic axiomatic concept…Never attribute to malice, that which is easily explained by stupidity. The US is not being attacked from the outside, it is rotting from the inside. As Pogo used to say, “We have met the enemy and the enemy is us”…Remember, the future belongs to the prepared.

  • kolchack

    Blaming China for the U.S.’s economic situation is like blaming the cigarettes for the lung cancer rather than the smoker. The Chinese have only taken advantage of us because we let them…because the agenda of big business, aided by their bought and paid for politicians, is to break unions and drive down labor costs through globalization. And the idiot voters in America have voted for that in every election since 1980.

    The good news ids that Peak Oil will soon destroy globalization beccuase exploding transportation costs will make it prohibitively expensive to ship consumer goods all over the globe, and that will be the end of this travesty.

  • rob

    As horrific as the end result appears, industry is doing absolutely nothing to avoid it. It amazes me that while retail figures can look so incredibly horrible, but retailers will do absolutely nothing to re-invigorate buying patterns. Take real-estate for instance, yes, it is true that a lot of high-class expensive homes have seen huge price drops, but average homes have hardly moved off their mark. So is it any wonder that our economy continues to sour, but the greedy don’t want to change anything they are doing?

    This is a GREAT article however, you do a great job hitting the right points, and I believe what you are saying is absolutely true. I just don’t have a lot of hope that the American people have the courage to turn it around.

  • mallory

    America (though not the average american) is a spoilt ****ing child.
    There is no economic war.
    There is the fact that China owns 46% of the US Trade deficit.
    There is the fact that US entrerpeneurs and most western investors have wisely placed their interests and money in Asia and BRIC’s (look it up if you don’t know what BRIC’s is!)
    There is the fact that the US Deficit exists because of the FED printing money out of thin air and diluting the dollar with QE’s and there is the fact that because of incompetent and weak leadership, the US economy is in the shit.
    When America wants oil, it invades oil rich nations and tells lies to justify doing so. When america wants a compliant population with increased regulation and restrictions, it creates an horrific act of ‘terrorism’ to justify the introduction of such measures.
    If America doesn’t want to pay its credit card bill (46% of deficit for example), the best way to avoid paying is to cry out currency manipulation and ‘we wuz attacked’ in order to stir up patriotism and turn economically strong countries with large trade surplus’ into convenient enemies. Do not be so gullible and do not swallow the latest bout of media manipulation on this subject.
    US Economy is a maxed out credit card, previous governments have simply borrowed more than the previous term on a repeat basis, rather than actually do something that would be unpopular; like fixing the problem.
    The dollar MUST decline and be replaced as the worlds reserve currency in the next 18 months.

  • roger in florida

    “War” is an innapropriate term. What we are seeing is other nations pursuing their own interests while our “leaders”, the political and bureaucratic elite, have been pursuing their own interests. There is no economic problem in Washington DC or in the State Capitals, although problems are brewing. The solutions are available and easily understood, however they clash with the pre-conceived notions of of our power elite. Nothing will be done until the people send to power representatives who have the courage to face and solve problems that we jointly share. Perhaps we have a start with the new congress and it’s tea party caucus, we will see.

  • DaShui

    I noticed when i’m in China I ask young people, male and female, what their college major is it is usually chemical engineering, mechanical engineering, electrical engineering, pharmaceutical engineering, etc. When I ask young Americans, it is marketing, law, business, banking, in other words paper shuffling BS that lives off other’s productive wealth.
    In order to compete with them it would take such a radical restructuring of the US ( example:no more affirmative action), I don’t think it is possible without collapse.

  • Dave in Scenic City

    Why diminish an otherwise good article by hacking up that rightwing hairball about excessively high corporate tax rates? Google “statutory and effective corporate tax rates” and you’ll see that the effective US corporation tax rates (that is, what they actually have to pay) are among the lowest!

  • http://ncel@netzero.net NC LeBleu

    COME QUICKLY, LORD JESUS, COME QUICKLY!

  • Concerned

    How many midle-classed Americans are willing to sacrifice their materialistic lifestyle which is made possible only by credit and cheap plastic trinkits from China? That’s right, none.

    The fact is that we are dealing with an addiction here. Materialism is an addiction. Period. Americans are the poster country for over consumption and lavished living, and most of us live way beyong our means.

    Sure we all want all the problems fixed, but how many of us are willing to live modestly as we should be and not like we have been?

    Lets be honest here. Most of us work only as hard as we have to or some of us not at all, but still feel entitled to the houses, cars and vacations that we buy on credit.

    Just like it takes most crack addicts to have an overdose or near death experience to admit something has to change, it will most likely take our economy to collapse or a very near miss before people will live within their means again.

    After all, grandpa raised 7 kids in a 1,000 sq ft house and only had one TV. He never bought a damn thing unless he could pay cash for it. What ever happened to responsible guys like that?

  • MP

    As a Canadian I must admit that my government has accepted free trade as being great. In the recent year the Canadian trade balance has fallen into the negative. Same problems as in the US, asian cheap goods are the norm. Plus the value of the US dollar has fallen from 62 cents American per 1 Canadian dollar to 1 dollar American per 1 Canadian dollar. Since the US is the largest export market for Canadian exporters has not helped the trade balance.

    But blaming Asia as being “unfair” in trade practices is wrong. I blame my own government, we need some sort of industial policy. Leaving things to the “market” is not doing any good. I have no problem with helping industries that provide good jobs. I have stress the fact that jobs being shipped to asia are not fault of economic warfare. Its the corporations and bad government policy.

    Asia is acting in it best interest and in North America we have free trade. Here in Canada we have more natural resources than in most of the world. So no matter how bad policy is we can always sell more oil. The US has to make things and the banking sector is not going to save the day.

  • Maria

    You are exactly right. The world’s economic problems will not be fixed. The economy is not broken. It is working as planned. The elite constructed this false economy for this exact purpose…to bankrupt every nation of the world and transfer all wealth to the elite banks. Fiat currencies are only continuing, so the sheeple may be kept calm during this final phase of transition into complete slavery under a one world government. The greatest depression is inevitable, but one world government is not.

    Citizens of the world, we must take back our sovereignty. We must rid our countries of these central banks. Refuse to pay the extortion debts. Refuse the austerity measures. They are only designed to enslave us further.

  • Spencer

    Am I the only one who noticed that the author used “one particular Asian nation” instead of saying China?
    Michael – you’ve lambasted China enough in the past, why stop now? Someone threaten to sue you?

    David, good post – my thoughts exactly.

    Gary – you’re a moron…but at least you’re consistent. I hope our government taxes the hell out of you too, you don’t need what you’ve worked for..let the bureaucrats squander it for you.

  • karen

    This is a great article, but I would like to say something on this subject. The American people, that is a large part of them do not give a darn about nothing but their flat screen tv’s cell phones, new cars, new cloths, credit cards and themselves. I see it all day long, I throw out questions to folks to see if they have a clue, it is a sad day in this country. All about me, myself, and I, we are headed for the worst economical collapse this country has ever seen, food shortages beyound belief, but most all people just see that tv and football, that’s their whole life!!!

  • mondobeyondo

    Just mention the word “war”, and the American government’s adrenaline goes into hyperdrive.

    We Americans just love our wars. World wars, wars against little Muslim countries, guerilla wars, wars on poverty, wars on drugs, trade wars. We even have a tendency to fight amongst ourselves! (The Civil War of the 1860′s being the most notable example).

    A rational solution to our economic woes could have been worked out, maybe 20, 30, 40 years ago. But noooo… Clinton signed in NAFTA, CAFTA (Central American FTA) then GATT was passed, and a whole host of free trade agreements were approved (surprised that SHAFTA didn’t go through, because that’s what’s happening to the American people!) And Obama now wants a free trade agreement with South Korea!

    It’s too late for us to recover now. That ship has sailed. What’s left is a vast wasteland of burger joints and dollar stores. Not only is our national wealth fast disappearing, the means of producing that wealth are also going away! Our brain drain is not from people leaving the U.S. for greener pastures. It’s happening from within. Have you seen the test scores of U.S. high school students compared to our international counterparts?

    So where is there hope? Construction? Nope. Why build more houses and buildings when there’s already a surplus? It’s ludicrous! We’ll always have the land though, so farming might survive and even become profitable. But for manufacturing, technology, etc… au revoir.

    Perhaps you can find a job as an airport greeter. Now there’s an idea! You can use your Wal-Mart greeting skills to welcome wealthy overseas travelers, as they come to grab what’s left of America in a nationwide fire sale.

  • Michael

    Anyone that has read my other articles knows that I am not blaming “all of our problems” on other countries.

    Over and over and over I have talked about the blame that the Federal Reserve, our politicians, Wall Street bankers and greedy corporate executives deserve.

    However, there are quite a few of you I am afraid that are so blinded by a particular ideology that you will not even consider that other countries are in fact engaged in predatory economic behavior.

    It is true that all of this would have never happened if we had not allowed it to happen, but now after several decades of allowing ourselves to be abused we are more vulnerable than ever.

    But many of you are so wrapped up in one particular paradigm that you will continue to place all of the blame on one organization or one political entity until the day you die.

    The truth is that our economic problems are multi-faceted and there are a lot of moving parts. When you try to oversimplify the problems we are facing you end up losing a lot of truth.

  • http://earthypoetgrrl.wordpress.com/ Beth

    Alice, right on about your WalMart comment! I am a social work student, and I commented on such in an essay that I posted on my blog. I’d be honored if you would check it out:)
    mondobeyondo–I love your posts! Do you have a blog?
    And I keep thinking of a book that I have read several times called “Ishmael” by Daniel Quinn. “He who locks up the food rules the world”. There’s so many scenarios…take your pick; economic armageddeon, peak oil, wars, natural disasters, despotic and greedy governments, social catastrophe, but in all–I do believe there is an elite permanent “government”, if you will, that ideologically “locks up the food”, so to speak.

  • GoneWithTheWind

    The problem (like the devil) is in the details. NAFTA was over 1000 pages long. It gave special benefits to special interest groups. When congress votes something into law ONLY the citizens benefit should be considered. You could write a fair trade treaty in one sentence. The extra 1000 pages gave your interests away.

  • Ouida Gabriel

    I agree with you Michael. I do not believe for a moment that China has our best interest at heart. In fact, I think that there are several countries that would be happier if America was wiped off the face of the earth.

    Keep up the good articles. The comments in this particular article were very interesting as well.

    Ouida Gabriel

  • Antonio Gonzalez

    But America have a record billionaires. That is good.

  • alice

    What’s the story with the Texas deficit? I read it’s as bad if not worst than IL, NY, NJ, CA etc…

  • mondobeyondo

    If it hasn’t happened to you yet, it soon will.

    You call a company’s customer service line, and after 30 minutes on hold, a man in a deep voice and accent answers, “Hi! Thank you for calling! My name Peggy! How I help you today?”

    Yes, it’s a funny TV commercial, but when it starts happening in real life, it’s no longer funny.

    Hey, what happened to Deanna in Oregon? Guess she was laid off last week.

    Welcome to globalization.

  • The Beast

    America forced the free trade and globalization….and for decades it hurt other countries. Finally the American people face what billions have faced in the previous decades: the pain of being ripped by these “Global-thieves” under the pretext of Free Trade and Globalization.
    American people should realize this and join the rank of the people of the world in facing the enemy of civilization: “Unrestricted and infinite greed of the Multi-National Corporation”

  • bubba

    Americans have enjoyed seven decades of global superiority through craft and graft.
    Complacency has eroded the need for thought while mainstream media has implanted a childish fairytale mindset of expectations, assumptions and entitlements. The populace has been trained and herded by the Elite to react against their own best interest in persuit of facile material trinkets garnered on unearned wealth.
    A bi-partisan sham for a democratic society with the proven errors being re-appointed by
    bought out selfseeking troughers dutifully elected by worshipers of the bright lights of the smoke and mirrors.
    Wake up America. There is competition out there.

  • bubba

    Some war. No bombs, no drones, no marines, no World Bank, no IMf,NO REGIME CHANGES.
    Seven decades of craft and graft has produced the greatest empire ever. Now topdown curruption has brought ruin to your dreams and fairytale expectations. The big screen TV we watch Disney on is made in some Asian country. The interest on our credit cards are paid to Wall Street who have proven more creative than Disney. Ninja mortgages @125% more destructive than any foreign enemy.
    At the end of the ignorance is our number two enemy. We ourselves are our best enemies.
    TAKE A GOOD LOOK IN THE MIRROR/

  • http://Dailyeconomicupdate.wordpress.com Robert

    This whole article is a bunch of Neo-Con rubbish.

    I can refute the entire premise of your article in ONE PARAGRAPH..

    The United States of America and The Federal Reserve Note are the center of the world wide financial system. It has been this way since the end of WW2. How on God’s green earth can the Chinese or any other country for that matter be called our for currency manipulation? The United States created this system and benefits MIGHTILY and by extention the average US Citizen benefits MIGHTILY from the arrangement. We trade worthless green notes to OPEC who in turn sends us their incredibly valuable Oil.

    We send worthless green notes to China who in turn sends us worthless plastic crap. But MAKE NO MISTAKE. The fact that the US of A can trade Federal Reserve notes for OIL is at the center of why the US is even a super power anymore. We lost all moral authority over the finanical system in 1972 and sealed the deal under Reagan and the era(1981 to present) DEFICITS DO NOT MATTER… We have been using up the rest of the world for our gain and now we are pissing and moaning that they are FUCKING SICK OF IT..

    Robert

  • Kim

    The solution: Get rid of governments and banksters and establish a true free society with sound money.

  • Gary2

    (Reuters) – Most Americans think the United States should raise taxes for the rich to balance the budget, according to a 60 Minutes/Vanity Fair poll released on Monday.

    Hate to break it to my detractors-most people agree with me-tax the rich spread the wealth.

    http://www.reuters.com/article/idUSTRE7022AK20110103

  • Erin

    Common sense dictates that no nation (or individual) can survive in the long run with a trade deficit. Economic warfare started over 30 years ago with intellectual warfare in the academic field. Econ 101 classes that taught our best and brightest (and naive) that tariffs are bad for “free” trade. That our government could run deficits in peacetime for the “good” of the economy. That war is good for the economy, because we could increase government deficit spending.

    We are, as a nation, dawning upon the realization that our local state and federal government is run by incompetents in the basics of economics (and governance). The solutions are simple, reverse course on deficits, raise tariffs to the point of zero trade deficits, invest in productive enterprises. The alternative is watching what happens when the notes backed by the “full faith and credit” of US taxpayers goes sour.

    If the government does not protect the productive, the productive will protect them self form the government. This is a reversal of economies of scale brought about by inefficiencies with the “too big to fail” cultural mindset.

  • Mark

    Really in my opinion Asia has little to do with it. Our own people sold us out, they knew it then and know it now. Does the average American realize what a security risk it is to have almost every single phone and computer made in China. These are not Chinese companies these are good old American companies. In my opinion these companies and the people who work for them have committed treason against their country. If you have any common sense what so ever you always knew free trade was a load of bull. It would be entirely different story if we practiced balanced trade.

  • Louise in MO

    Fifteen years ago I worked for an “Asian” company in an administrative position. We were a “sales” office. I learned quite a lot about the “Asian” way of business.

    Trust me…..they used America to make fortunes which they sent back to their corporation in Asia. Everything that was sold here was made there.

    They were guilty (in my opinion) of price fixing with various American based retail outlets some of which went bellyup in 2008.

    I agree with the premises of the article written here. People in America need to wise up and follow the money trail. If we do we have a chance; if we don’t we will lose the “money war.”

  • Steven P. Cornett

    Re: Gary:

    By how much, and over how much of the population?

    Even if you took everything from everyone, you’d still not be able to balance the budget of the government. You’d still have to massively cut the outflows of the budget too, and even then you’d have intractable elements such as the interest on the debt.

    On top of which is the question that socialists ignore in their envy for the rich and the powerful. That question is one of justice, and it is “did you earn the wealth through honest means of production, or through economic subterfuge and financial alchemy. Or worse, did you gain it through politics and connections in the corners of financial alchemy?”

    If a true peace is to come in our economy, we need to look at the questions of real justice (what is owed to our fellow man).

  • ronald disandro

    All this economic unfairness can be brought to a screeching halt simply by each and every one of us to stop purchasing foreign products period!!!Buy only made in USA even if it hurts, otherwise, it will be too late for us all!!!

  • SATISH VAGHELA

    sir,this is a eye opening aticles and us should

    once again wake up.

  • Girish

    What a bunch of crap this article is. First you need to look up the concept of money before you spout such a naive article. Look Nixon took us down this path by abandoning the concept of honest money and embracing fiat. What did you expect the road of lies to be filled with? Diamonds? IMHO if you return to honest money based on some fix to a gold/oil/other commodity/people/basket the problems will go away. It is our greed that did us in.

    Like some one said earlier…we must be thankful that we are still able to import oil for worthless paper.

  • Ozzie Downunder

    Economic war? Its call business. Its how the whole capitalist thing works, I do a little bit and convince someone to give me a lot for it. Do less get more it’s the fundamental principle. Wake up! Don’t whine because other countries are better at ripping yours off than you are at ripping of theirs. Why is that the case? Because those other countries don’t let the Rich elite run the place for their own benefit at the expense of the average citizen but don’t worry give it some time and your system will spread to other countries just like a cancer.

    America was the good guy? When was that? I am only forty so i probably am too young to remember. Yes many around the world are extremely anti-American, myself included, although its not for religious reasons or because of envy its because the American population has believed every lie told to them by the government, the media and the banks, Americans have also given up on education and replaced it with work training.

    Education is supposed to teach you TO think not WHAT TO think. When those in power teach the average person WHAT TO think, what they are doing is building a better serf.

    Your losing your rights, banks are allowed to commit fraud with complete cooperation from all branches of the government including the judicial, a massive proportion of your population have been arrested for felonies (like a small amount of pot, joyriding etc soon to be added not recycling and refusing a TSA grope and cavity search) and can no longer vote. Voting is not a privilege, its not a right, its a freaking DUTY and OBLIGATION imposed by the society upon the individual to be part of the process of running the society.

    America is country where the children are told it is greatest place to live and the system is the best in the world and your leader is a man of the people. These are the same concepts that have been told to people by every fascist state on earth, Europeans rarely believe such propaganda and as for Australians, if our government tells us its raining we automatically look out the window (I am generalising of course) .

    Do you know what the most common attitude towards the American people is? Its Pity! The world pities the poor American, too ill educated to know how fix things, too lazy to try anything and too wrapped up in the lie that yours is the land of opportunity, which it is if your parents were multi-millionaires.

    Your system is not fair, very soon every second person will have been convicted of some crime and then only the rich will have the right to vote and all those BS elections can be gotten rid of and the Ultra Rich Elite can openly control rule the downtrodden poor serfs.

    But the American disease of greed, apathy and ignorance is spreading everywhere now. Maybe its time to find a cave and live a subsistence lifestyle.

  • http://www.pathtoasia.com rhea

    In order to keep growing our economy at the same rate (let’s say 3%), the money that our government has to create to sustain that growth follows an exponential curve. Why? Because we pay interest on government ‘debt’ AKA money the government created. Money = debt.

    The government creates money by creating treasuries (out of thin air) and selling them. It then pays interest on the amount paid.

    Here’s my question: Why does the government need to sell the treasuries in the first place in order to spend money?

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs

  • Mark

    Ozzie Downunder, you must be on a planet far, far away. Although I have many problems with our system, to act as if Americans are stupid fools is really a fairy tale created by jealous outsiders.

    Working with people from all over the world several weeks out of the year, including clients from downunder, I find my American counter parts by my measure to be much more innovative, and success driven. I am really quite sick of you delusional idiots from over seas accessing something you apparently know nothing about.

    I am assuming you are from that ex prison island. Bad bloodlines uh mate. Were not you traders there downunder using our innovative military equipment a few months ago with the deceitful thieving Chinese. I think you were, if we are so stupid why rely on our weaponry to protect yourselves? We are on to you, why don’t you keep your mouth downunder.

  • cyrus

    The economic war is real, but the US corporate greed, the dominance of banking system over the US economy, foreign lobbyists in America, the US left policies and addiction to easy money in America also play a role in the decline of US economy.

    Corporate greed is very natural, capitalism is about making money and you won’t get rich unless you are greedy. Everyone would’ve been living in the caves still if it wasn’t for greed and desire for comfort. I can live in Amazon, eat fuck and shit for the last of my life without any need to get a job if I’m not greedy and not seeking comfort, greed creates wealth, jobs, makes you go to school, start a business,… greed is the reason we are so advanced. American economy is declining because Americans aren’t as greedy as they used to be as one of the reasons.

    Also the US economy is declining because there is a lack of patriotism in the US business culture. I know many Chinese and people from other ountries, they rather pay a little more but help a local business. They’re hustlers, they’d travel to Africa, Afghanistan, America’s etc to find cheaper commodities, find retail markets,… an American wouldn’t accept a job that’s further than 10 miles from his home town.

    The banking system, is a mess. They’re now backed by the US tax payer after a $14 trillion bail out (more money than the entire US infrustructure invespment since its establishment, enough to build another America from scratch), yet wouldn’t lend to American businesses or help local investment. The money they’ve received from the tax payer is now invested in China, India and other countries that are trying to wrack the US economy.

    Government policies (specially the socialist left policies) was the main reason behind the real estate boom that resulted in the deepest recession and capital drain. Alinsky socialist activists pressured the banks and USG for decades to change the course of capitalism in America. They believed that the baks can create social equality by simply lending to the poor and uneducated people who lived in the urban areas (mainly blacks and hispanics and blamed racism for not lending to them. note: I’m not white, I am an Iranian and not racist.) A $4 trillion subprime and bad morgage was created under the CRA guidlines (community reinvestment act that was passed by the socialist Jimmy Carter). Clinton and Obama are both the students of socialist activist Alinsly who made it to the WH. instead if those activists targeted the source of money and required banks to invest/lend to small businesses and start ups as easy as the low interest NINJA and liar loans were made (instead of lending to buy homes lend to start business, if 5% of the businesses successful, tthats economy and it’s impact of job creation and business spending is immediate). Unfortunately it’s too late now, the USG is in debt and the banks have invested all the US wealth over seas.

    Foreign lobbyists also play and important role, they tell the American policy makers what to do in ways it benefits them the most and specially now under the “man of peace” president Obama, America is being played by the G20 like a paper tiger. No more democrats in white house, we need patriots there.

    There is another side to America’s decline: America is isolated because of all the hostile governments while the Chinese, Europeans and Russians enjoy the trade and other intersts with them. Too many dictatorships in the world and America is sacrificing itself by standing alone, all others appease the evil, only America gets tough to them taking all the $ and political risks. If it wasn’t because of America the brutal Saddam Hussein and Taliban would’ve been mass murdering their people still. Now the Kurds and Shia in Iraq and Afghan women enjoy far more freedom than during Saddam and very happy about America’s help. Forget about what the media’s BS, most Iraqis and afghans are very happy about the invasions.

    The next target must be Iran, but Iran doesn’t require invasion, the Iranian people (and the non-IRGC Iran military AKA Artesh) are ready to overthrow and they need America’s help. Once IR is removed both Iraq and Afghanistan will settle and Iran will once again become and ally taking care of the regional security like during the Shah, once those countries’ economies start to grow, they’ll balance some of America’s trade deficit, also the $500 bil military spending in the region will be cut by more than half. A new fresh market for US goods, tallent exchange….

  • Georgia Sailor

    In my opinion none of what was said is untrue. However, throughout history industry has almost always migrated to cheap labor. It just makes sense if you own a business to do this.

    Can we reverse the current situation? Probably not given the tax rates businesses have to pay and then there are the costs of health benefits.

    Maybe taking health care costs off the back of employers would be a help. Developing alternate fuels, albeit more expensive for the end user in the short term, would decrease the dollar drain.

    There are no quick fixes just a series of small steps that will end up moving us in the right direction.

  • eyeswideopen

    The illuminists (NWO, CFR, IMF, Banking cartels) have been working toward the collapse of the West and especially the US in order to erect A New World Order and a world currency. Chief proponent of this on the floor of the Senate was George Bush Sr. and has been brought forward by Carter, Reagan, Bush Sr, Clinton, Bush Jr. and now the great Obama.

    Much of our military technology has also been leaked to China by a certain middle eastern nation who calls itself “an ally” aided the by Clinton administration.

    We are now on the brink of a shooting war with that certain Asian nation. Off the coast of California a missle was launched about a month ago. Military who are not muffled have confirmed that. Another missle shot off just recently off of Padre Island, Texas……….this is in retaliation to the US sporting around their waters recently and our Secretary of State Clinton insinuating the US where we should not be.

    We are being kept distracted by a media and a Whitehouse which covers us with lies.

    So far, with the failure of the Euro looking more likely, the dollar is still holding the status of world currency and is strengthing. But not for long. Russia and China are now using other currencies to trade oil and goods, by-passing the dollar. This is a trend. With pressure coming from all directions the US will eventually lose the place of “world curency” then we are truly finished off.

  • Madhuri

    Not every rich person is bad, there are few rich families like Rockefeller or rothcheild or few more who want new world Oeder and end game is slave civilization which is under their control and offcourse they will do it by controlling your money and your life and by chipping everyone or by killing through toxic food etc but they are the main enemy.
    Motivation.bad person has only one motivation behind and that is man is evil has no concious, and has to be controlled so they are afraid of powerful people as they already have enough problem controlling , this is a false idea but they are fixed on it. man is basically good and one must fight for his freedom by becoming strong financially and spiritually.80% people are good only 20 % create trouble and out of which 2% are real bad like those Fed and rocky.

  • http://www.richtapestries.co.uk tapestries

    It isn’t bankers’ bonuses that are the problem, it’s the fact that banks alone in society can create legal tender that’s the real, barely understood, problem.

  • Tariq Hameed

    Like so many people, I also feel sorry about it and hope that yet biggest economic power will not colaps, but in the view of mentioned sad facts it is becoming a real threat. US should patch-up her bleeding holes and stop chasing mirages. Armed forces should be pulled out from other countries (since goat herders are no threat), so that funds may be used in vital projects. God bless America.

  • kikusha

    Well we forgot that there is NO FREE LUNCH.All of us rich or poor want US govt to dole out something, be it food stamps for the poor or Bailouts for the rich via thie sick corporations.We want to fight wars and reduce taxes.We have produced a system of Govt that allows dishonest spineless politicians promise moon to the voters.That moon is being served by borowing from abroad.Now bills are coming DUE.Next American trick? National Bankrupcy via HyperINflation!!!

  • http://na Alpal

    Hey.
    Would a simple import duty even up the score.
    Maybe this would turn the tables?
    I`t worked well once for nations that tried industrial espionage through exploiting their citi zens and used them as slaves.
    Ahhhhhhhh history repeating itself again.
    Or as well as maybe make em pay the right price for local produce and pay their people a proper world parity living.
    Reserve banks should be privately and secretively controlled!!!
    Ludicrous and dangerous.
    Write em off period.
    Insolvent.
    Remove THEIR teeth,claws and control.
    Who do they think they are anyway…

  • Hiro

    Hey, I bought a lot of iPhones, iPads and I pay expensive fees buying softwares and music. Also I pay for Google adds. The money was spent in Iraq and Afeganistan. Economic war is good because they can collect taxes…but…. most of the money was spent in conventional war.

  • GET IT RIGHT

    The truth is American companies have been greedy from the start and corrupt.One way or the other American rich has not wanted any competition and has done want ever they can to avoid up and coming small companies driving other business esle where. They allow these other companies to leave the country to make a profit and then they still r able to sell in America. The government should have put a profit ceiling on the large companies. Then once they reach this economic ceiling give the profit back to the country. But we are so hatefull when it comes to our community that we are failing as a whole. Where I live and where I was living is like living on two different planets. Whites and blacks need to stop this social war that has been going on since slavery too. It is getting the best of our country. Outsiders see the way we treat each other and they see why we are falling apart. We ridicule each other that other country men don’t want to be apart of our family. Most other country men when they come to this country they are taught before hand to stay away from blacks. If hate destroys a man especailly a country.

  • S

    Its really sad. Americans (if they can think for themselves on a certain level) must be wondering why they have spent so much on building such a big armed presence around the world with the technology it has been armed with, when all the time you did’nt need that massive armed presence to dominate the world. You were already dominating it by having the monopoly on currency. Every country used your currency to buy oil. Thats means every country had to buy your currency. And what did you do with that money? You spent it on an army. In order to dominate the world. Only to realise that a world cannot be dominated by presence, but more easily with finance. You basically bought into the wrong stock, and now your blaming everyone else for it….pissing and whining about economic war. It was your mistake, you allowed your government to do it, you have also allowed your government to turn you into non thinking neanderthals. Its sad what you have become. It’s sad most of all because YOU had choices, YOU had responsibility, but now YOU are choosing to blame others for the way you handled your responsibility. Poor form. Suck up your bad economy, you made it. You live with it. Dont fucking blame the chinese when it was your own strategic decisions that screwed you up.

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