America's New Declaration of Dependence

As we already know America is not longer the superpower it once were, most of our wealth building has been gone oversea.

This jobs will never come back, so the Americans now face the fact that we no longer can support our economy with our incomes as we need that whatever income that we earn is for more daring needs.

Wages are stagnant, people are losing their American dream and all those years of prosperity are long gone, at least for the regular American.

The federal Reserve took the job on raising and lowering interest rate to help the economy go by.

In the 20th century, economic growth resulted from improved technologies, new investment, and increases in labor productivity, which raised consumers’ incomes and purchasing power. In contrast, in the 21st century, economic growth has resulted from debt expansion.
Most Americans have experienced little, if any, income growth in the 21st century. Instead, consumers have kept the economy going by maxing out their credit cards and refinancing their mortgages in order to consume the equity in their homes.
The income gains of the 21st century have gone to corporate chief executives, shareholders of off shoring corporations and financial corporations.

As you can see this gains hardly has touched the regular hard working tax payer.

In the 21st century the U.S. economy has produced net new jobs only in low paid domestic services, such as waitresses, bartenders, hospital orderlies and retail clerks. The kind of jobs that provided ladders of upward mobility into the middle class are being exported abroad or filled by foreigners brought in on work visas. Today when you purchase an American name brand, you are supporting economic growth and consumer incomes in China and Indonesia, not in Detroit and Cincinnati.

Is very irresponsible to claim growth of employment when they are nothing compare to what used to be jobs that paid 20 dollars an hour in the manufacturing and industrial America.

Now this jobs has been swapped for 1 dollar hour labor in countries like China.


The only ones that reaped the wealth were the companies and financial institutions that made risky deals of selling asset backed securities to pension funds and investors here at home and abroad.

The U.S. Treasury does not have $700 billion on hand with which to buy the troubled assets from the troubled institutions. The Treasury will have to borrow the $700 billion from abroad.
The dependency of Treasury Secretary Paulson’s bailout scheme on foreign willingness to absorb more Treasury paper in order that the Treasury has the money to bail out the troubled institutions is heavy proof that the U.S. is in a financially dependent position that is inconsistent with that of America’s “superpower” status. The U.S. is no longer a superpower.

The truth is we are in more trouble that our own government is trying to show because we can lose our lenders or our lenders will get tired of us.

The more debt we accumulate the worthless the dollar will became and that will not be attractive to other nations.

If the US Treasury’s assumption of bailout responsibilities becomes excessive, the US dollar will lose its reserve currency role. The minute that occurs, foreign financing of America’s twin deficits will cease, as will the bailout. The U.S. government would have to turn to the printing of paper money as did Weimar, Germany.
For now this pending problem is hidden from view, because in times of panic, the tradition is to flee into “safety,” that is, into U.S. Treasury debt obligations. The safety of Treasuries will be revealed by the extent of the bailout.

www.economyincrisis.org...

With bail out or not we are in deep trouble.

The truth about recesson
www.economyincrisis.org...

America's Superpower Days May be Over
www.economyincrisis.org...

Firms Suspected of Financial Fraud
www.iht.com...

Wasting Away: America's "Superpower" Status
www.marketwatch.com...

I am not trying to be rude here, but anyone who is just now coming to this realization has been living in ignorance. This isn't "new" by any means. Has been in the works for almost a full century now

"Devils advocate":-

"It could be argued that economic slowdown in America would be good for the World in general. Too long the Americans have been the most greedy, arogant, wasteful and immoral nation on the Planet. Bullying other nations and dictating to them. Economic collapse in America would reign in these destructive tendancies."

The above view is not necessarily my point of view as I don't want to be hauled into a prison to be locked up without trial and subjected to torture.

Is true but most Americans only have come face to face with this problem when the housing bubble came crashing over their heads.

When American was a wealth builder we all reaped the benefits, our parents and parents, parents.

American was a nation of prosperity.

Many people are still in the believe that American has not change, just gotten slower.

But the truth is that this is worst than speculated.