posted on Jun, 23 2013 @ 01:03 AM
reply to post by JoeP2247
There may be Americans who are very rich, but in general Americans are not that rich.
The middle class (remove top 10% and bottom 40% - You get the remaining 50% of the population that we call middle class) is no better off in US than
in China in terms of net wealth per household.
The main issue is US finances are severely stressed. The massive 1T per year monetary expansion points to a very bad state of public finances. Since
public spending is a big driver in US economy, US remains vulnerable to a shock.
I like your optimism and your patriotism. I agree that US democracy is far better than a Chinese authoritarian State or a Muslim Emirates. But the US
and other Western democracy have committed big mistakes, the biggest is depending on slave labor in foreign countries. This will prove to be West's
The slave labor situation is really bad. I give you one example. It costs me at least $2.5 for getting a shirt stitched in India (by a Tailor). The
Western buyers however pay less than $1 for the same job to be done by a garment factory in India. The shirt that you buy in a store in USA is made by
slave labor. The same is true of almost all consumer goods you import from foreign countries. Getting these "cheap" products means installing and
keeping oppressive regimes in foreign countries.
What is slave labor? If a worker gets paid inadequate money (for a 9 hour workday) to cover housing, food, medical, and other basic costs for a small
family of 4, I consider that as slave labor.