[jb6]

One thing I've noticed, the American lifestyle has improved dramatically over the years - and it certainly hasn't been because we refused to participate in trade with the rest of the world.

You are right, it is because most Americans swim and sink in debt and why personal bankruptcy is on a constantly growing curve proportional to national debt.

[MEGoody]

"You are right, it is because most Americans swim and sink in debt and why personal bankruptcy is on a constantly growing curve proportional to national debt."

I would agree - Americans on the whole do carry a lot of debt. But the reality is, you can't get a credit card or a bank loan if you don't have a job.

[ninenot]

At this time, the world's debt-to-GDP total is around 300%; in the US, it's 330% (total Gummints, corporate, and individual debts.)

Unprecedented, period. Last time it was anywhere NEAR that high was just after 1929, and then it was only 200%, worldwide.