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Excellent post. I've been beating this drum, but not as factually or eloquently. People seem to have forgotton their "Economics 101": You must produce a tangible product in order to survive.

I can't help but wonder how those corporations expect to sell their products in America when Americans are unemployed? Similar circumstances have led to two world wars, certainly numerous revolutions.

"I can't help but wonder how those corporations expect to sell their products in America when Americans are unemployed? Similar circumstances have led to two world wars, certainly numerous revolutions."

Thus the circle begins...

We, the people cheered when the cheaper (affordable) chinese/ japanese/ mexican garbage (now better than ours) flooded the markets (WalMart KMart etc) to the point where we, the people, did NOT buy the slightly higher priced (Union Wages) American prices.
To cut the prices, American companies were NOT allowed to lower expenses, in fact they were constatly FORCED by govt to raise their costs.
If the companies were to survive, they had to:
1. Get Americans to back themselves (WAKE UP!) YOU are the displaced workers! Buy American!
2. Find a way to lower production costs
...a. lower wages (NO WAY! say we, the people)
...b. Cut quality (We become the "made in Japan" junk)
...c. Move your production to a LESSER TAXED / LOWER EXPENSE area (which means NOT inside the USA)

The companies move overseas, you get laid off, you can't buy anything, the companies stay away. The USA turns into another South Africa slum country.

How many companies in the USA are gone now thanks to:
1. Unions who would rather see the company go broke than to lower wages a couple of percent (POWER !)
2, Lawyers! Does anyone realize that litigation is now the LARGEST industry in the US? How many BILLION$ are sucked out of our, the people's, wallets? The lawyers thank you.
3. Can't leave out the EPA!
4. to placate the complainers - yes, crooked CEO's etc can harm a company, but this only happened thanks to the encouragement of a slimmy x-prez who bribed the companies to hire people when they needed none and to make the economy look even better, lie like hell about profits.
---to hire all those extra people (at minimum wage +), the companies fired many professionals (higher wages), the schools quit training for higher level technical/business jobs, so know our tech comes from India and other countries.

Americans are now the Janitors of the world ???

We're a service economy now. Which is all well and good, but you can't have a nation of 280 million people that only produces paper. Plus, the industry we do have requires less and less workers as we get more productive. Kind of a a downward spiral.

I can't complain, personally, the service economy has been very good to me. But, I can see the long-term problems for the country.