Our policy makers convinced us we don’t need a manufacturing base, we would be an information economy. At the same time they continued to debase the education system through policies of ego enhancement and political correctness while at the same time debasing the currency by running the printing presses. We borrowed from the Chinese while we moved the greatest manufacturing infrastructure in the world offshore.
Over the last 20 years, while we’ve ditched the base of our economy we’ve lived through three speculative information economy bubbles (S&L crisis, dot com, and now real estate boom). Face it, our nation does not produce items of value to sell to its own people much less the world. Oil is $80 per barrel, versus $28 when Bush came to office, because we’ve sent our productive capacity elsewhere and the Arabs know there is nothing backing the dollar. Lower interest rates and the dollar will drop further against the Euro and the price of oil will rise.
Note that in the recent liquidity crisis it was the Europeans and the Japanese banks that stepped in to support the US, not the Chinese.
Time to focus on rebuilding America. Energy independence (drill in Anwar). Rebuild US manufacturing so we aren’t at risk from shoddy and tainted products. Put in a flat tax. Stop subsidizing private equity firms with a 15% tax bracket while small businesses actually building wealth pay 30%.
Get rid of the speculation on Wall Street. The money men at the investment banks and private equity firms are killing our industrial base with the collusion of big government and politicians on the take from big corporations and China. Take back our economy before we become a third world economy.
The stepped in to support America?
I beg to differ.
And sure enough, just glancing I found what I was afraid I would...
Get rid of the speculation on Wall Street...
Pity your education never made clear that speculation is required for the functioning of capitalism and free markets.
I gather you'd prefer the alternative, as long a someone else paid the bill.
Wow, that’s one enormous conspiracy theory you got going there.