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Is America In Decline? 24 Statistics About The United States Economy That Are Almost Too Embarrassing To Admit

Does anyone really want to hear that America is in decline?  For decades, most of us have been raised to believe that the United States is "number one" and that anyone who doubts that fact is a "gloom and doomer" that should just pack up and move to "Russia" or "Iraq" or some other country where things are not nearly as good.  But does it do us or future generations any good to ignore the very serious signs of trouble that are erupting all around us?  The truth is that it is about time to wake up and admit how much trouble we are actually in.  The U.S. government is absolutely drowning in debt.  The entire society is absolutely drowning in debt.  We are being slaughtered in the arena of world trade, and every single month tens of billions of dollars (along with large numbers of factories and jobs) leave our shores for good.  Our infrastructure is failing, our kids are less educated and our incomes are going down.  We have serious, serious problems.  At one time, the U.S. economy was so dominant that it was not even worth talking about who was in second place.  That is no longer the case in 2010.  Our forefathers handed us the greatest economic machine in history and we have allowed it to fall apart right in front of our eyes.  A national economic crisis of historic proportions is getting worse with each passing month, and yet most of our leaders seem to be asleep at the switch.  

So is American in decline?  Well, read the statistics below and decide for yourself.  The reality is that when you start connecting the dots it gets really hard to deny what is going on.

Urgent action must be taken if things are going to be turned around.  It is time to get our heads out of the sand.  It is not guaranteed that the United States will always be the greatest economy in the world or that we will even continue to be prosperous. 

For many Americans, it will be incredibly difficult to admit that our nation has become a debt addict and an economic punching bag for the rest of the world. 

But if we are never willing to admit what the problems are, how are we ever going to come up with the solutions?

What you are about to read below is going to absolutely shock many of you.  But hopefully it will shock you enough to get you to take action.  We desperately need to change course as a nation.

The following are 24 statistics about the United States economy that are almost too embarrassing to admit....

#1 Ten years ago, the United States was ranked number one in average wealth per adult.  In 2010, the United States has fallen to seventh.

#2 The United States once had the highest proportion of young adults with post-secondary degrees in the world.  Today, the U.S. has fallen to 12th

#3 In the 2009 "prosperity index" published by the Legatum Institute, the United States was ranked as just the ninth most prosperous country in the world.  That was down five places from 2008.

#4 In 2001, the United States ranked fourth in the world in per capita broadband Internet use.  Today it ranks 15th.

#5 The economy of India is projected to become larger than the U.S. economy by the year 2050.

#6 One prominent economist now says that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

#7 According to a new study conducted by Thomson Reuters, China could become the global leader in patent filings by next year.

#8 The United States has lost approximately 42,400 factories since 2001. 

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

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

#11 In 1959, manufacturing represented 28 percent of all U.S. economic output.  In 2008, it represented only 11.5 percent.

#12 The television manufacturing industry began in the United States.  So how many televisions are manufactured in the United States today?  According to Princeton University economist Alan S. Blinder, the grand total is zero.

#13 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.

#14 Back in 1980, the United States imported approximately 37 percent of  the oil that we use.  Now we import nearly 60 percent of the oil that we use.

#15 The U.S. trade deficit is running about 40 or 50 billion dollars a month in 2010.  That means that by the end of the year approximately half a trillion dollars (or more) will have left the United States for good.

#16 Between 2000 and 2009, America's trade deficit with China increased nearly 300 percent.

#17 Today, the United States spends approximately $3.90 on Chinese goods for every $1 that China spends on goods from the United States.

#18 According to a new study conducted by the Economic Policy Institute, if the U.S. trade deficit with China continues to increase at its current rate, the U.S. economy will lose over half a million jobs this year alone.

#19 American 15-year-olds do not even rank in the top half of all advanced nations when it comes to math or science literacy.

#20 Median household income in the U.S. declined from $51,726 in 2008 to $50,221 in 2009.  That was the second yearly decline in a row.

#21 The United States has the third worst poverty rate among the advanced nations tracked by the Organization for Economic Cooperation and Development.

#22 Since the Federal Reserve was created in 1913, the U.S. dollar has lost over 95 percent of its purchasing power.

#23 U.S. government spending as a percentage of GDP is now up to approximately 36 percent.

#24 The Congressional Budget Office is projecting that U.S. government public debt will hit 716 percent of GDP by the year 2080.

Please share these statistics with as many family members and friends as you can.  It is time to get real.  It is time to admit that we have some really big problems.

America is in decline and the situation is getting worse by the day.  If we are not willing to admit how bad things really are, then we are never even going to have a chance to find the solutions that we need.

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  • mondobeyondo

    Is America in decline?

    Yes.

    (From a proud American who grieves at the shape this country is in)

  • http://www.great-depression2.com David Blomstrom

    Thank you for a thought-provoking article. After reading it, your readers might want to read my similarly depressing article, “Comparing Depressions,” at http://blog.great-depression2.com/2010/01/comparing-depressions.html

    I have to keep rubbing my eyes as I ask myself if all these danger signs can possibly be real. I wouldn’t classify myself as a doomsdayer any more than I’m a Pollyanna. I consider myself a realist, and reality bears little resemblance to what the pictures painted by the corporate media.

    Fasten your seat belts and get ready for a rough ride…

  • Durian

    Are Americans willing to work at factories again?

    Can Chinese make decision to open up Iphone factory at Shenzhen? those ‘exporting’ jobs from USA is American.

    There’re many wealthy people in India/China… but don’t forget they’re even more Indian/Chinese who are without home, struggling to buy even a Happy Meal. what matters most for them is just filling their stomach.

    What I want to bring out here is, American is not the only one who is suffering. This world has became imbalance in terms of income distribution. It’s more correct to say Poor vs Rich rather than American vs. i.e. China or India.

  • Philippe
  • William

    From the information provided, it appears that a very significant amount of the damage was done in the period 2000-2010. WHO was President for eight of those ten years??????
    Answer: The Smirking Chimp Bush……bet YOU voted for him twice. Happy now??

  • Buy American

    Loyalties to family have to take precedence over loyalty to a country in which the leadership has chosen to walk away from the principles, constitution, and infrastructure their forefathers strove to implement and maintain. My hat goes off to the vets who heroically tried to defend the patrimony left by our predecessors, only to see the current government and most Americans selling themselves to the communist Chinese whom these heroes so valiantly risked and gave their lives to defend against.

    Unfortunately, there comes a time when each person has to decide if they should continue bailing the sinking ship or if they should bail out and save their families. This time is coming quickly upon us when patriotism to a country which has already sold out to the enemy can only result in tragedy. I can only imagine fellow Americans will be the next wave of immigrants looking for a new promised land in which they can live in freedom, prosperity, and democracy with hope for a better future for their children and grandchildren.

    Unless drastic action is taken immediately, the “Great American Empire” is doomed to become just another chapter in the textbooks of the future, next to the British, Roman and Ottoman Empires.

  • Maria

    Is America in decline?

    Yes.

    How long can a reckless driver (Congress) keep the car (America) on the road when he loses the brakes (integrity) going downhill?

    Will we survive the crash?

    It’s going to be a big wreck. Miraculously, people do survive such tragedies.

    Then what?

    There’s a long struggle to recover and heal from the wounds and the pain. We grieve over those who are lost. Eventually, the survivors go on with life, but they never forget that crash.

    From now on, we better make sure the car is in good operating condition…especially the brakes…

    And we better make darn sure the driver knows what in the heck he’s doing!

  • http://moneyedpoliticians.net Jack E Lohman

    >>> “#5 The economy of India is projected to become larger than the U.S. economy by the year 2050.”

    And why is this? Because our trusted politicians are owned and operated by multinational corporations and have passed trade laws that give advantage to outsourcing jobs rather than using American workers. That increases the corporation’s bottom line and the CEOs salary and the amount they can contribute to political campaigns. So, our politicians are, well, prostitutes who care more about getting elected than their constituents.

    Only public funding of campaigns will reverse that and get the politicians working for us rather than them. And at $5 per taxpayer per year it’d be a bargain.

    Jack Lohman
    http://MoneyedPoliticians.net

  • loki

    Yes America is in serious decline. We will enter a serious crisis phase. Much like the 1930′s great depression. This comming fiscal/moral bankruptcy will lead to a fork in the road.
    1 Collapse, chaos and destruction of the country.
    2 rebirth, return to constitutional principals and sound limited govt. The 90 year march of Progressive/Socialist policies will be swept aside. I am an optimist and beleive after the comming pain and disruption we will emerge a stronger and better country. China will collapse on itself in the future. They are not the monolith everyone portrays them to be. Freedom has a way of eventually collapsing dictatorships.

  • http://www.RavingCapitalist.com Paul Mladjenoviuc

    The culprit behind many of these issues is statism. Economic behavior is both directly and indirectly affected by the macro effects of government policy.

    Take manufacturing, for example (see your items # 9-13). During 1959-2008, the costs and risks of launching a manufacturing enterprise in America sky-rocketed! Anyone that had to launch such a business would go through months of permits and regulations. Once in business, you must deal with Unions, OSHA, etc.

    It is no mystery that manufacturing is easier and cheaper to do in other countries.

    Cut taxes, regulations and other risky and costly burdens and manufacturing will then return.

    Paul Mladjenovic
    http://www.Mladjenovic.blogspot.com

  • spinotter

    Of course the United States is declining compared to other nations. We are going through a bad patch right now. It’s possible that we may pull out of it. Otherwise, every nation must eventually decline and perish. Let some of the others be first for a while!

  • Grob Hahn

    There are a few places where I would ask more questions before accepting the conclusion;

    #4 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th. This is no surprise. While America is vast, it’s also largely rural. Even getting electricity to some places in America is amazingly difficult and expensive. Also compared to the rest of the planet, America’s population growth is pretty flat with the exception of the artificially inflated numbers resulting from illegal entry.

    #8 The United States has lost approximately 42,400 factories since 2001. Approximately 75 percent of those factories employed at least 500 workers while they were still in operation.
    #9 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000. These two together have an enormous story behind them. Just doing the basic math reveals a loss of nearly 15 million factory jobs. The fact it took a decade shows that the logistics involved with exporting entire factories is not a rapid process and is slave to the shipping industry. This is further proof of how unlikely ANY of those jobs would ever be coming back to our shores. It would likely take another decade and would cost more since you would be staffing them with “expensive” Americans. Doing this shot a huge hole in our economy. By treating workers as disposable and hoarding wealth for the sake of wealth our superclass sold us out. But it wasn’t just manufacturing. IT, which started largely in America, has taken a 15 year hit from India and Singapore. Some companies even held severance pay as extortion to force Americans to train their Indian replacements. People like Michael Emmons who complained loudly, were ruthlessly ruined.

    Americans are being driven to their knees by the power of wealth which has fully corrupted our government. Only by pulling out of the American economy can we take back control.
    Grobbbbbbbbbbbb

  • gita

    Some of those facts aren’t embarassing. Why would it be embarassing that China and India have projected projected prosperity and economic development in the future? It’s only your imperialism and racist mindset that would consider that embarassing. In reality it’s just the natural rise and fall of civilizations. They’re on the up and you’re on the down. Your own stupidity and greed is what got you in this position in the first place and now you’re suffering the consequences.

  • James Madison

    In a global economy where manufacturing jobs in the US pay, say for example $15/hour, vs .80/hour in China, who is going to win that battle? Does anyone know what the solution is? Is it to drastically lower our wages to compete?

  • http://www.fortapopka.com Michael Mazzaro

    The decline is a planned and being implemented perfectly. Until that fact is widely known it will only continue.

  • HegelianDialectic

    Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.” John Adams (The Works of John Adams, ed. C. F. Adams, Boston: Little, Brown Co., 1851, 4:31)

    “He therefore is the truest friend to the liberty of this country who tries most to promote its virtue, and who, so far as his power and influence extend, will not suffer a man to be chosen into any office of power and trust who is not a wise and virtuous man….The sum of all is, if we would most truly enjoy this gift of Heaven, let us become a virtuous people.” Samuel Adams

    “Without morals a republic cannot subsist any length of time; they therefore who are decrying the Christian religion, whose morality is so sublime and pure (and) which insures to the good eternal happiness, are undermining the solid foundation of morals, the best security for the duration of free governments.” Charles Carroll, signer of the Declaration of Independence

    “Every step we take towards making the State our Caretaker of our lives, by that much we move toward making the State our Master.” Dwight D. Eisenhower

    “Man will ultimately be governed by God or by tyrants.” Benjamin Franklin

    “The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them.”Patrick Henry, American colonial revolutionary

    “It is when people forget God that tyrants forge their chains.”Patrick Henry

    “The man who reads nothing at all is better educated than the man who reads nothing but newspapers.”Thomas Jefferson

    “America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.”Abraham Lincoln

    “The money powers prey upon the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe.” Abraham Lincoln

    “Nearly all men can stand adversity, but if you want to test a man’s character, give him power.”Abraham Lincoln

    “The means of defense against foreign danger historically have become the instruments of tyranny at home.” James Madison

    “Those people who will not be governed by God will be ruled by tyrants.” William Penn

    “If we abide by the principles taught in the Bible, our country will go on prospering and to prosper; but if we and our posterity neglect its instruction and authority, no man can tell how sudden a catastrophe may overwhelm us and bury all our glory in profound obscurity.” Daniel Webster

    “If religious books are not widely circulated among the masses in this country, I do not know what is going to become of us as a nation. If truth be not diffused, error will be; If God and His Word are not known and received, the devil and his works will gain the ascendancy, If the evangelical volume does not reach every hamlet, the pages of a corrupt and licentious literature will; If the power of the Gospel is not felt throughout the length and breadth of the land, anarchy and misrule, degradation and misery, corruption and darkness will reign without mitigation or end.” Daniel Webster

    “Education is useless without the Bible.”Noah Webster

    “If a republican government fails to secure public prosperity and happiness, it must be because the citizens neglect the divine commands, and elect bad men to make and administer the laws.”Noah Webster

    For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century. Professor Carrol Quigley

    The few who could understand the system will either be so interested in its profits, or so dependent on its favours, that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests. John Sherman

    The most wonderful thing of all is that the distinguished Lutheran and Calvinist theologians who belong to our order really believe that they see in it (Freemasonry) the true and genuine sense of Christian Religion. Oh mortal man, is there anything you cannot be made to believe? Adam Weishaupt 33 deg. Freemason and founder of Illuminati

    We have restricted credit, we have restricted opportunity, we have controlled development, and we have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world–no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men. Woodrow Wilson

    The conscious and intelligent manipulation of the organized habits and opinions of the [public] is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country.’ Edward Bernays (Father of modern media and nephew of Sigmund Freud).

    It was not accidental [the 1929 stock-market “crash”]. It was a carefully contrived occurrence. … The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all. Louis McFadden

    The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds from the U.S. Treasury…and has created out of nothing a … debt which the American people are obliged to pay with interest. Wright Patman

    The ruling class has the schools and press under its thumb. This enables it to sway the emotions of the masses. Albert Einstein

    The task is to covertly lower the standard of living, the whole social structure, of America so that we can be merged with all other nations. Rowan Gaither

  • mariah haveen

    The US is in decline due to the imperialistic military invasions abroad. Homeland Security failed….but we are still spending on it.

    The US can’t spend all it’s resources invading other countries and stay on top. our industries were outsourced by corporate greed. This is not the fault of the American people. But the people must pull their money out of big banks, the deceptive stock market and other fraudulent ventures and reinvest it in their own communities.

  • William

    Mariah is totally correct. We just can not afford EMPIRE. The Department of DEFENSE needs to become that again, and NOT the Department of OFFENSE. As an aside, I wonder HOW many of the unemployed today were “high-fiving” and cheering when the bombs and missiles were falling on Bagdhad in Mar of 2003……..be careful about what you ask for; you just might get it.

  • alice

    Well if Austerity measures aren’t going to happen soon in the USA, maybe hyper-inflationary action could reduce the amount of debt, transforming trillions into quadrillions of new devalued dollars. Now our trillions of debt won’t seem so bad! The price will be that our bank accounts will be worth nil, dollars will be the embarrassment of the western world, our products will be so expensive nobody will buy anything at all from us, unemployment will go through the roof, we will be compared to the old China! Poverty throughout! QE2 will be the final nail in our coffin! Austerity now is needed to save whatever is left of our once great nation!

  • Manas

    And now the Indian businesses are trying to get the republicans elected. So that they keep getting outsourced jobs.
    http://thinkprogress.org/2010/10/05/foreign-chamber-commerce/

  • mondobeyondo

    The real tragedy is the legacy which millions and millions of Americans fought, bled and died for, and those who built this country from the ground up, into the most prosperous nation in the history of the world. Their descendants will be left with NOTHING.

    We’ve sold our industrial base down the river. And the government and the banks are trying to take what’s left.

    It used to be said, “As GM goes, so goes America”. How true, how true… GM got a government bailout. Who’s going to bail out the USA?

  • RunVampRun

    Great Naomi Klein clip…Thanks Philippe!

  • GoneWithTheWInd

    Is it scientifically or morally correct to asses a country or an economy when it is in a recession? Do you understand the error you inject into your thesis by picking this moment in time to predict the future? This recession will be worldwide and many countries are in worse shape then the U.S. Both China and India depend upon selling products they make to countries in which the citizens have the persoanl assets to buy from them. Will China and India look as promising in 12 months or 2 years or 3 years?

    I particularly take issue with those who blame big business or outsourcing as the root of the problem. Our industries are moving offshore because of the expense of doing business in the U.S. Between unions extorting them and congress inundating them with regulations and red tape it has become impossible to compete in the U.S. But my question is how would you stop Apple from moving their manufacturing to China??? And if you could (with more regulations no doubt) what would stop a foriegn company from being the beneficiary of this heavyhandedness??? The product would still be manufactured in China so what would you gain? And if you thank you can put controls on imports you should be aware this has never worked in the past and causes trade wars. The U.S. exports a lot of goods and services what would happen to those jobs in a trade war?

  • Nanabozo

    The US has been artificially boosted by a strong dollar after WWII.

    The sharp decline since the year 2000 is, imo, largely due to:

    1. The opening of the Chinese labor market (a few years after the fall of the Sovjet Union). The result was a massive and growing trade deficit. Reason: the US was no longer the most competitive place to invest and manufacture.

    2. The euro as a challenger to the dollar. Without the euro, it wouldn’t have been necessary to invade Iraq, as Saddam wouldn’t have sold his oil for French Francs and British Pounds. But because there were plans to sell oil for euros, US national security got a little concerned about possible domino effects and had to intervene by carrying out 911, setting up Al-Qaeda etc. (that’s why France and Germany got so pissed). In the mean time, all these foreign military adventures cost a lot more than giving every American a college education. Of course, those in power in the US would prefer to funnel that money into their own pockets with expensive military and “rebuilding” efforts. (btw, last time they checked a few billion dollars were missing from the rebuilding coffers)

    3. Too much control by corporations on government policy, so that it is unable to adjust it’s course and do what is necessary: invest in people and infrastructure.

    I don’t know if the US will be able to turn the tide or at least to control the damage of the last decade. The problem is partly that the American elite is very much into finance, moving money around to safer places, leaving sinking ships and concentrating on the easy money while it lasts… too bad that so many smart people engage in the “zero-sum” game that finance has become. A huge parasite that creates no value. In fact, it dissipates a lot of value, just look at the bonuses they rake in: 144 billion on Wall Street alone lately, pulled out of the real economy. If all those smart people would be working in productive, innovative industries instead, things could well be different.

  • Richard

    @gita

    “We are on the verge of global transformation. All we need is the right major crisis and the nations will accept the new world order.”

    - David Rockefeller

  • Lisa

    The government is allowing millions upon millions of illiterate third world peasants to swarm across our borders. It is the modern day version of the barbarian invasions of ancient Rome. We would be wise to learn from history instead of repeating it.

  • Dombey Isenman

    Thank the Reagan Revolution! It was so much fun.

  • Ron

    Amazing what is going on in America, have we lost what we stand for?
    Watching the mess unfold sucks

    http://www.dailyjobcuts.com

  • http://WBDM Joe in JT

    About ten years ago I saw a statistic showing 5 billion dollars in tax money will go to help corporations who want to move operations oversea’s. That’s when I knew our days were numbered as a country.

  • http://WBDM Joe in JT

    Remember the unions striking in the early days, the 1930′s and 1940′s. Remember union leaders like Jimmy Hoffa who fought hard for the working man. Corporations “hate” unions and guess what happens when money hungry corporations move their operations overseas to China? NO MORE UNION PROBLEMS, period.

  • mondobeyondo

    The very phrase “Homeland Security” sends tremors down my spine.

    “Homeland” – U.S. Government
    “Fatherland” – Nazi Germany
    “Motherland” – Soviet Russia

    “Wasteland” – The middle class under Obama & Co.

  • El Pollo de Oro

    Thirty or so years ago—when we were still the United States of America and not a Third World horror movie called The Banana Republic of America—I had a teacher who had a lot to say about why he moved to the USA from France and would never return to Europe. And it came down to two words: upward mobility. There were prosperous doctors, lawyers, accountants in France, and there were plenty of French blue-collar workers who earned a very good living. But as he saw it, the difference between French post-WWII capitalism and American post-WWII capitalism was that in France, you were whatever your teachers said you would be—if your teachers put you on a particular path, that was it. You stayed on that path. There was a lot of opportunity in France (more opportunity than in most places), but the USA offered a wider variety of opportunities. If you were the blue-collar kid who had dreams of being a cardiologist, the great thing about the USA was that you had a better shot at it. There were no guaranteed outcomes, but there was a shot at upward mobility.

    Times have changed dramatically, and anyone who doesn’t have his/her head buried in the sand realizes that the BRA is in serious decline in so many respects—many of which Michael Snyder outlines in this commentary. The robber barons are running the show, and the upward mobility of 40 and 50 years ago has been replaced by Third World conditions, a dying middle class and a corrupt, ruthless oligarchy. Unemployed MBAs are competing with unemployed construction workers for part-time minimum-wage jobs at the dollar store. The U.S. dollar is on life support, but as Gerald Celente points out, that won’t stop The White Shoe Boys from lying us into yet another costly war (this time, in Iran) and adding to our already-huge deficit. And when the U.S. dollar goes into cardiac arrest, get ready for all hell to break loose. Things are really bad in the BRA, but they’re going to get a whole lot uglier.

    Michael Snyder speaks the truth: this country is in decline, and the situation is getting worse by the day.

  • http://www.suburban-self-reliance.com Jerry

    As someone who has studied Peak Oil, other areas of resource depletion, and societal collapse for almost a decade (on top of my own experiences within the gov’t and military), I’m convinced that we’re not going to make it.

    I pulled my retail investments years ago, paid off the house, and entered economic bunker-mode, about four years ago.

    There’s nothing anyone can do to fix it. Just stick with underground/progressive sources of media, and you’ll bat 1000.

    Michel Chossudovsky, over 2 years ago predicted austerity measures within the US, under Obama.

    Why does anyone think that US Fatherland Security issued a travel warning for Americans in Europe? Because of terrorists? Come on!! Hundreds of thousands are protesting austerity measures across Europe! Meanwhile, none of the big three networks even bothers to report on these demonstrations. Gee, what are they trying to keep us Umericans from finding out?

    Enjoy what’s left of the 20th Century, while it lasts (pun intended).

  • Gary

    If government truly represented average folks instead of the rich and the corporations then I think this decline would stop or better yet never happened in the first place.

    Think about it-in one long weekend Wall street got bailed out. There was tremendous seance of urgency to save the rich. Now if there was this same urgency to help the poor and middle class this would go a long way in to reduce the decline.

    We are turning (have turned?) into a third world banana republic like another poster so eloquently articulates.

  • http://ZLSM OtownRightGuy

    Jack E Lohman don’t STEAL my money and give it to the politicians with your public funding schemes. At least now I don’t have to vote for OR fund those thieves. You really think forceable taking of taxpayer money (public funding) will give us better politicians? How naive you are!

  • Raven

    The more big govt. injects its policies the worse the depression will continue.

  • http://moneyedpoliticians.net Jack E Lohman

    OtownRightGuy, wake up. You ALREADY ARE funding the political campaigns, and at hundreds of times more than if you simply funded them up front. In two ways: for every $1 they give in political campaigns they get $100 back from the taxpayers (in cash subsidies, etc), and secondly, when they add their political costs to the price of their product and we reimburse them at the cash register.

  • James Madison

    Those referring to us as a “Banana Republic” or “Third World Country” are either hopelessly ignorant or intentionally obtuse. It was refreshing to hear the Chilean President say, “the United States is a good country” for our tremendous assistance provided them during the just ended mining accident. Sometimes web sites like this make us lose sight of this fact. We have certainly our share of problems but I don’t believe we are done yet.

  • Gerry

    RIP America.

  • patriot

    Michael Mazzaro, who posted above, said it most succinctly:

    “The decline is a planned and being implemented perfectly. Until that fact is widely known it will only continue.”

    If you want to know about it, read Griffins essays from his site freedom-force.org/

    Part 1: The Chasm
    http://www.freedom-force.org/pdf/futurecalling1.pdf

    Part 2: Secret Organizations and Hidden Agendas
    http://www.freedom-force.org/pdf/futurecalling2.pdf

    Part 3: Days of Infamy
    http://www.freedom-force.org/pdf/futurecalling3.pdf

    Part 4: The War on Terrorism
    http://www.freedom-force.org/pdf/futurecalling4.pdf

  • foolmeonce

    Support a patriot site that supports zero hedge:
    http://infowars.com/moneybomb/

    Money bomb is exploding today.

  • apache

    it’s too late. things will happen fast. it’ll all start some weekend and we’ll bounce off the bottom and wind up somewhere under zimbabwe or cuba. remember it’s all your fault. you dummies voted for decades for these corrupt democrats and republicans. so stop whining and take your medicine cause you no longer have a choice.

  • J.Smith

    Thanks to the Democrats&Republicans. Are you ready for a 3rd Party or you keep voting for these 2?

  • Russell Good

    And when you connect more dots it becomes apparent that it is being deliberately orchestrated, just like the Afghanistan and Iraq wars.
    When martial law arrives you will work wherever you are told to.

  • Mike

    Foolmeonce

    Info wars is a religous right ,ovement. They want to take our personal freedom and replace it with a church state. Alex Jones is a far right wing bigot.

    Info Wars=Fox News hate

  • Mike

    Republicans war on the middle class is working. They will SCREAM about goverment and hand everything to corporations and the top 2%.

  • G. Murray

    Perhaps the most significant factor in America’s decline has been almost completely ignored in this article and that is the stunning lack of information and the misinformation that Americans have about other national economies and societies.
    Several commenters have mentioned the “cost of doing business in America…the unions…the regulations etc., etc.” i.e. “big government”. Are these people really so ignorant of the fact that Germany has been the world’s leading exporter for many years now and that China has only recently surpassed it for 1st place? That Europe has an economy that is nearly as large as the US and China combined? (http://www.alternet.org/ see “Why Germany has it so good and Why America is going down the drain by Terrence McNally)
    How is this possible? Union membership, particularly in manufacturing is 4 to 6 times HIGHER than in the U.S. Every company has work councils where union representatives have a REAL say in how the company is run.
    EVERYONE has QUALITY health care. The costs are shared by the workers and businesses.
    ALL employees get 4 to 6 weeks PAID holiday.
    The schools are among the best in the world and university is either free or at minimum cost.
    There are LOTS of environmental regulations and there has also been much more investment in alternative energy than in the U.S.
    So how is it that Europe, with all of these “socialist” burdens is doing so well?

    Now, how do I know these things? Well, I do read a lot of BOOKS, but I’m also an American who has been living in Europe for the past 25 years. When I came here I thought of it as the “Old Country” and I was scared to death when I had to go to the hospital the first time for surgery, but guess what? I’m still alive and kicking, even after two broken legs, a hernia and a stent. And the bill? 0, Zero, Null, Nada.
    Of course I pay taxes that go towards health care, so I know it’s not “Free”. But knowing the mental anguish and financial burden that relatives of mine in the US have had to deal with, even though they thought they were “covered”, there is simply no comparison. The US health care system is an embarrassment beyond words.

    And don’t get me started about “socialist Europe”, how “the Euro is dead”, how the European Union is going to dissolve.
    I’ve have been hearing this propaganda from CNBC since its inception. They had me so convinced a couple of months ago during the Greek economic crisis that the Euro was going to 1:1 that I actually converted some savings into dollars. Well guess how that turned out?
    One Euro will now buy you $1.40 (I converted it when it was $1.24 OUCH). Or to put it another way $1 will get you 0.71 Euro cents.

    There is stupidity (low IQ), ignorance (lack of knowledge), misinformation (as provided by the mass media) and then there is willful ignorance; the refusal, in spite of the intelligence to do so, to even consider information that might put your precious world view into disarray.

    People need to wake up. It is not “us” versus the “Government”. It is us versus international corporations and the government TO THE EXTENT IT IS BOUGHT AND CONTROLLED by the corporations.

    To those who think we can return to some 18th century era of small government and virtuous corporations I say “Enjoy your illusions. Reality bites.”
    It’s just a shame that so many people will have to suffer with you as a result.

    The information is “out there”. Ignorance is not an excuse.
    For those interested here’s part of my recent reading list:
    The European Dream by Jeremy Rifkin
    Europe’s Promise by Steven Hill
    Corporation Nation by Charles Derber
    13 Bankers by Simon Johnson
    No one would listen by Harry Markopolos
    Winner Takes all politics by Jacob Hacker and Paul Pierson (One of the best I’ve read!)
    The Great American Stickup by Robert Scheer
    Depression Economics by Paul Krugman
    Bad Money by Kevin Phillips
    The Shock Doctrine by Naomi Klein
    It takes a Pillage by Nomi Prins

    Good Luck!

  • Jeff

    America is beyond the point of no return in my opinion. So I’ll vote with my feet. I can make a good living teaching English in Japan, which is number one in high-tech and science IMHO and is home to the world’s most beautiful womwn.

  • HUBSCH

    @ G.Murray
    >People need to wake up. It is not “us” versus >the “Government”. It is us versus >international corporations and the government >TO THE EXTENT IT IS BOUGHT AND CONTROLLED by >the corporations.
    You are 100% right!
    Sadly I presume the US is living through their ‘January 29th 1933′ event currently and probably will experience with the help of the Tea Party a real fashist goverment experience soon …

  • Mike

    Employer paid health care prevents any jobs from moving here and will continue to chase them from our borders.

    Employer paid health care is our demise

  • Jimi

    So how does this all end up? Read your history. It does repeat.

    WW3 is just around the corner…

  • El Pollo de Oro

    G. Murray: Excellent post. Your comment that “The US health care system is an embarrassment beyond words” is absolutely right. I couldn’t have said it better myself. As an American who has been to quite a few European countries on business (including France, Spain, Ireland, the UK, Italy, Portugal and Greece), I can tell you that Europeans pay a lot less for health care but get much, much better outcomes than people here in The Banana Republic of America. Item: one of my business contacts in Paris (he used to live in the BRA) has had health problems galore and has needed something like 12 or 13 operations. Matter of fact, I was with him the day he was discharged from the major hospital near Notre Dame Cathedral. He is quick to say that he has received excellent and affordable care under the French health care system; if he still lived in the BRA, he would be flat broke by now……assuming the corporate ghouls of Blue Cross, United or Aetna hadn’t killed him. And I know plenty of American expats who have used the Italian, Spanish and Dutch health care systems with excellent results. Columbia University, in fact, recently released a study that pointed to the American health insurance system as the #1 reason why life expectancy in the BRA is less than it is in a long list of European countries. God help you if get sick in the BRA.

    Of course, the robber barons and neo-feudalists who turned the former USA into the BRA would love to make Europe part of the Third World as well, but judging from the size of the angry mega-demonstrations that have been taking place in Europe, Europeans have no intention of rolling over and playing dead. They won’t go down without a fight, and I applaud them for that. Que viva la lucha en Europa porque sin justicia, no hay paz! Che viva la lotta in Europa perche senza giustizia, non c’è pace.

    Congratulations on living in Europe and being spared the horrors of the BRA’s fall into the abyss. You are truly among the lucky ones.

  • http://immigration-weaver.blogspot.com/2010/06/employment-growth-vs-population-growth.html weaver

    Employment Growth vs. Population Growth by Decade

    Executive Summary:

    A very simple calculation reveals that the working age population (16 through 64), increased by 22 million in the first decade of the 21st century; employment growth for the decade was only 1 million jobs in the working age population. Total employment growth for the decade was only 3.2 million, two thirds of total employment growth went to persons 65 yrs. and older

    http://immigration-weaver.blogspot.com/2010/06/employment-growth-vs-population-growth.html

  • Benoit Dee

    There is only 1 element you all forget. In Belgium, France, Germany you only retain 500 dollars for every 1000 dollars you earn after you paid your taxes and social security. And this is when you are lucky.
    In the US you keep 800 dollars for every 1000 you earn. The problem is that you are responsable to organize youre health by yourself, which of course should be possible with the 60 % more you earn (net after tax) in the states for every 1000$

    Be glad to live in a free country where the state doesn’t steel more than half of your income. Greetings to you

  • John Calabrone

    If you want a detailed explanation of the causes of America’s decline, I invite you to read : “After the Empire: The Breakdown of the American Order” by Emmanuel Todd. E. Todd is a French historian, demographer, sociologist and political scientist who wrote in 1976 (he was 25 at the time…) “The Final Fall: An Essay on the Decomposition of the Soviet Sphere”…

  • Amvet

    In my view, our national decline is due to several reasons.
    (1) The idea of a global economy and free trade was a good idea for developing countries but totally insane for rich countries.
    (2) Our corporations moved manufacturing out of the USA to increase profit. They now avoid tax and use their profits to buy politicians.
    (3) Having the military-industrial complex in control means more money for war, weapons, and war profiteers and less money for education, infrastructure, and social services. If we had spent the money at home that we have wasted on wars, secret wars, meddling in other countries politics, and foreign aid, we would be well off.
    (4) Finally, global competition has increased.

  • http://www.tendollarjobs.net Bob Jackson

    G’Day! Theeconomiccollapseblog,
    Along the same lines,, American bingo developed a little differently than its British counterpart. The bingo game is played on pieces of papers called Bingo cards. The cards come in special colors for special games. The American edition is a seventy-five number game. The letters B, I, N, G and O are stamped diagonally the top of the card. The numbers are registered under the letters. “B” has number one through fifteen. “I” has numbers sixteen through thirty. “N” has number thirty-one to forty-five. “G” has numbers forty-six to sixty; and “O” has numbers sixty-one to seventy-five.
    Thx.

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