Presented without much commentary, because little is necessary: the only ratio that matters for the US economy, the change in US public debt ($359.1 billion) and US GDP ($142.4) in the first quarter, hit 2.52x and rising.
It takes $2.52 in new debt to increase $1 of GDP.
China, soon
…”tell you what we do Mr. and Mrs. Democratic Congress…we give you $0.30 on the $1.00 for all America…and we give all US citizen iPads (wink)…to sweeten deal!”
Some one explain to me how the worlds only major super power and strongest economy, a leader in any technology you care to name, can be reduced to this,unless it was pre-planned and intentional.Even the “evil one” Obama could not do this single handedly,this has to go back to the days when Klinton gave China “most favored nation” status and allowed them to dump their cheap products onto the US economy.A consumer nation that doesn t really manufacture or produce things is doomed to failure.
Everyone that made fun of me
have now lost their jobs,
I told them the World Trade Agreement with China would bury us.
American workers making 20 dollars an hour competing with Chinese sweat shops paying two dollars an hour.
Clinton signed it into law back in 1997-
ABC News
‘The White House ushered Beijing into the World Trade Organization (WTO) later this year.’
‘President Clinton today signed the historic bill granting permanent normal trade relations to China.’
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I got the last laugh,
but its not funny anymore.
Yeah well if it’s any comfort…
Most historians note that the Roman Empire’s decline is also it’s history…a near millenium long process, involving many diverse factors such as religion, decadence, corruption, economics…and climate.
Empires generally only fall as a result of military conquest.
I suspect Rome long lived on as the Roman Catholic Church…in so many aspects…out living the alleged conquerers…the Goths, Vandals etc.
The Byzantines and then the Ottomans exhibited a similar process…..
I fail to see how that should be a comfort to anyone that isn t an enemy of the USA.We are not talking several hundred years here,more like 15-25,America got sold down the river and nobody is being held accountable.