America, a nation in economic crisis

[Kmarx]

Here is an article from a site called Economy In Crisis: http://www.economyincrisis.com. It has some interesting articles concerning the true picture of our nation's economy.

America's Fourth Major War

We are presently in four major wars - the Afghanistan War, the Iraq War, the Internal Terrorist War which we temporarily, at least, appear to have under reasonable control and the little understood but extremely damaging Economics War which we are losing as evidenced by the following recent ominous events:

1. Massive sell-offs of major American owned corporations to foreign companies ($1.3 Trillion of US companies (8,600 companies) sold in last 10 years to foreign interests).
   
   
2. Hundreds of recent closings and bankruptcies of major American companies.
   
   
3. $1.8 Billion Dollar per day current account deficit (balance of trade deficit plus interest and other payments) which allows foreign companies to accumulate our money to buy our closed and bankrupt companies after many of our companies have been predatorily put out of business by foreign companies that are subsidized by their government. Example: dumping of foreign steel in USA below cost.
   
   
4. Rising unemployment in major industries, steel, electronics, telecommunication, shoes, clothing, and others.
   
   
5. Our former advantage in manufacturing is gone. We are now uncompetitive in many industries.
   
   
6. Our comparative wage rates have declined. Unbeknownst to most Americans, Japan, Germany, Switzerland, Holland, and Singapore now have average wage levels considerably higher than ours. These are countries from which we import much hi-tech equipment that we can't produce here competitively.
   
   
7. Our economy has become increasingly relegated from a very productive manufacturing economy to a service economy which translates to a servant's economy. (Servants usually don't do as well as producers).
   
   
8. Increasingly more Americans now work for foreign owned companies. Profits from these companies to a great extent are sent back to their respective country. (We need profits in this country to propel our American Companies).
   
   
9. Many foreign companies operating in America are able to use tax advantages American companies don't have which allow the profits to benefit the foreign parent corporation at our expense.

Here are some of the potential catastrophic consequences if we lose this economics war:

• Our country's wealth and strength will erode as American owned corporations manufacture less in this Country, import more, incur greater debt and sell ownership of our valuable assets to foreign companies to pay for imports and debt.
  
  
• Our wage levels and standard of living will decline as we continue to switch from a manufacturing economy to a service (servant) economy.
  
  
• Our flexibility and freedom will be curtailed as decisions that affect you and me are made in foreign countries and often not in our best interest.
  
  
• Dependence on others for products we need for defense limits our options and makes us extremely vulnerable and weak.

[smirkymonkey]

1. Great article and site!

Kick :kick: