America and the Global Economy

The American economy is stratified with a small number of high achieving, high earners, and an enormous number of low wage earners, and a shrinking number of middle salary earners.  And this variance will escalate over the careers of your and my children.

There is a national unemployment rate of 9% - 10%, and it is higher when one includes those skilled, educated Americans who are underemployed in service jobs.   Go to any department store or call center and you will see them.  These poor souls have realized that they must reduce their standard of living sharply and there is absolutely no future for them to advance their dreams or fulfill their capabilities.  Many of these fine people have college degrees.

Moreover, while I am as patriotic as any American, one must recognize forthrightly that the U.S. is a declining nation.  All great nations decline and the U.S. is doing so rapidly.  China will dominate the 21st Century, just as the U.S. dominated the 20th.  China now holds $2.5 trillion dollars in reserves.  It will grow and dominate, and power and wealth will continue to flow to China and the Pacific Rim.

Next: Connections to China