Here are some shocking statistics.
For American manufacturers, the bad years didn't begin with the banking crisis of 2008. Indeed, the U.S. manufacturing sector never emerged from the 2001 recession, which coincided with China's entry into the World Trade Organization. Since 2001, the country has lost 42,400 factories, including 36 percent of factories that employ more than 1,000 workers (which declined from 1,479 to 947), and 38 percent of factories that employ between 500 and 999 employees (from 3,198 to 1,972). An additional 90,000 manufacturing companies are now at risk of going out of business....Manufacturing employment dropped to 11.7 million in October 2009, a loss of 5.5 million or 32 percent of all manufacturing jobs since October 2000. The last time fewer than 12 million people worked in the manufacturing sector was in 1941. (I would remind you what happened in 1941...Pearl Harbor and the America's entry into WWII.)
If you are wondering what kind of manufacturing plants have closed let me ask you who is manufacturing televisions or cameras here in the U.S.? Where is Kodak, Magnavox, etc.?
When Jimmy Carter was urging energy conservation in 1980, the United States imported 37 percent of oil consumed, now we are at 58%. A 64% increase in 30 years.
The U.S. Commerce Department recently announced that the U.S. trade deficit increased by 18.8% in June to $49.9 billion. Most analysts had expected the figure to be somewhere around 41 to 43 billion dollars. In the month of June, imports rose to approximately $200 billion while exports fell to about $150 billion. (How do we survive as a nation if we continue to lose $1 Trillion to other nations every 20 months? This is money that we never see again.)
Total US government spending is 36.2% of GDP.
America's current problem with immigration is a direct byproduct of NAFTA. The amount of immigrants entering the U.S. illegally has more than tripled since 1993, rising from less than four million to over 12 million. Furthermore, since the implementation of NAFTA 300,000 farms have gone out of business and average wages have dropped 13 percent.....Before NAFTA was signed the United States actually traded at a surplus with Mexico. By 2007, a year before the financial collapse, that balance had more than reversed, it had completely imploded. A mere 14 years after signing NAFTA, a small surplus turned into a $91 billion deficit. Factor in Canada and our deficit sat at $191 billion.
U.S debt to rise to $19.6 trillion by 2015.
The government is effectively bankrupt. Using GAAP accounting principles, the annual deficit is running in the range of $4 trillion to $5 trillion. That's beyond containment. The government can't cover it with taxes. They'd still be in deficit if they took 100% of personal income and corporate profits. They'd also still be in deficit if they cut every penny of government spending except for Social Security and Medicare. Washington lacks the will to slash its social programs severely, to change its approach to ever bigger government. The only option left going forward is for the government eventually to print the money for the obligations it cannot otherwise cover, which sets up a hyperinflation.If you bought a $20 item in 1913, that same item would cost you $61.82 in 1963 and would be $441 today! (Inflation is a hidden tax.)
Folks, we need to see the writing on the wall. If we keep denying the facts that America is in a decline we will continue to procede to a Second and maybe over time a Third world country. Pass this along to your friends and family as this news needs to get out.
Keep your eyes open...
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