The United States was once considered rich. We accumulated abundance throughout most of the twentieth century. We were a very productive country whose wealth, to a great extent, derived from manufacturing. Our companies invented and produced many of the things we needed and much of what the rest of the world consumed.
Tag Archives: Wall Street
A fair trade relationship between countries is something to be desired. Each country can take advantage of its relative strengths and both countries grow economically. An unfair trade relationship, however, can be as destructive as the fair one is healthy, and can lead to the decline of a civilization. This latter case is precisely the malaise afflicting America. Just look at our relationship with China as an illustration.
This article originally appeared on OpEdNews.com.
Back in 2005, I wrote an extensive series of articles on Wal-Mart and how one corporate giant was outsourcing anything and everything that American industry wouldn’t provide to them for resale at the prices they demanded. I opined that their actions were in essence “a national security risk” as we outsourced our light and heavy industry to other countries – especially to countries that were not necessarily “friends” of the United States. In fact, I wrote about the dangers of outsourcing before “WakeUpWalMart.com” even came into existence. I insisted that “the best price wasn’t always the best deal,” especially as to how it would eventually impact our own economy – and even more importantly, the impact on our national security. The article was titled “Wal-Mart – And the Destruction of our Economy.”-
Readers ask if the financial crisis is over, if the recovery is for real and, if not, what are Americans’ prospects. The short answer is that the financial crisis is not over, the recovery is not real, and the U.S. faces a far worse crisis than the financial one. Here is the situation as I understand it: