[Alberta's Child]

Denninger makes a common mistake here by looking at this issue simply in the context of trade and jobs between the U.S. and our foreign trading partners.

The reality here is that the U.S. has slowly been diminishing on the world stage as an economic power. Our own internal decline is only a small part of the problem. The bigger issue is that there are a lot more people living outside the U.S. than inside the U.S. (96% of the world's consumers are not Americans), and as time goes on these other countries pay less and less attention to the U.S. as a market anyway.

I'm not sure what the answer is, but I don't think there's a way out of this that anyone in the U.S. is going to like.

[griswold3]

Globalization cannot be stopped. The question is how do we live with it?
Pandora’s box includes Demographics along with Technology.