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Not Just The Largest Economy – Here Are 26 Other Ways China Has Surpassed America

China - Public DomainIn terms of purchasing power, China now has the largest economy on the entire planet, but that is not the only area where China has surpassed the United States.  China also accounts for more total global trade than the U.S. does, China consumes more energy than the U.S. does, and China now manufactures more goods than the U.S. does.  In other words, the era of American economic dominance is rapidly ending.  Global economic power is making a dramatic shift to the east, and that is going to have huge implications for our future.  We already owe the Chinese well over a trillion dollars, and as our economic infrastructure crumbles we are feverishly borrowing even more money in a desperate attempt to prop up our falling standard of living.  We can’t seem to match the work ethic, inventiveness and determination of China and other Asian nations and it is showing.  If we continue down this path, what will the future look like for future generations of Americans? (Read More...)

17 Facts That Prove That The Quality Of Jobs In America Is Going Down The Drain

Drain - Public DomainDo you wish that you had a better job?  If so, you are not alone.  In fact, there are millions upon millions of Americans that get up every day and go to a job that they wish that they could afford to quit.  Unfortunately, most Americans end up just desperately holding on to the jobs that they have because just about any job is valuable in this economic environment.  Over the past decade, the long-term trends that are destroying jobs in America have accelerated.  We have seen countless numbers of jobs shipped overseas, we have seen countless numbers of jobs replaced by technology, we have seen countless numbers of jobs taken by immigrants and we have seen countless numbers of jobs lost to the overall decline of the once great U.S. economy.  Unfortunately, even though we can all see this happening, our “leaders” have failed to come up with any solutions.  And since there are so many of us that are desperate for jobs these days, employers know that they don’t have to pay as much.  The balance of supply and demand in the employment marketplace has radically shifted in their favor.  So less workers are getting health insurance these days, less workers are getting retirement plans and once you adjust for inflation our paychecks have been getting smaller for years.  Needless to say, all of this is absolutely eviscerating the middle class.  The following are 17 facts that prove that the quality of jobs in America is going down the drain… (Read More...)

For The First Time Ever, More Than Half The Members Of Congress Are Millionaires

U.S. Capitol BuildingWealthy members of Congress are living the high life at taxpayer expense, while most of the rest of the country continues to suffer through one of the worst economic periods in our lifetimes.  According to an analysis conducted by the Center for Responsive Politics earlier this year, more than half of the members of Congress are millionaires.  This is the first time that this has ever happened in U.S. history.  In addition, the same study found that a hundred members of Congress are actually worth at least five million dollars.  We have a government of the wealthy, by the wealthy and for the wealthy, but as you will see below, that isn’t stopping members of Congress from wasting taxpayer money in some incredibly bizarre ways.  Millions of dollars are being spent on “office expenses” and on the hair care needs of Senators, but very little is being done to stop this abuse.  It is almost as if the American people have just accepted that this is how “big government” is supposed to operate. (Read More...)

Top Adviser To The Chinese Government Calls For A “Global Currency” To Replace The U.S. Dollar

One WorldThe former chief economist at the World Bank, Justin Yifu Lin, is advising the Chinese government that the time has come for a single global currency.  Lin, who is also a professor at Peking University, says that the U.S. dollar “is the root cause of global financial and economic crises” and that moving to a “global super-currency” will bring much needed stability to the global financial system.  And considering how recklessly the Federal Reserve has been pumping money into the global financial system and how recklessly the U.S. government has been going into debt, it is hard to argue with his logic.  Why would anyone want to trust the United States to continue to run things after how badly we have abused our position?  The United States has greatly benefited from having the de facto reserve currency of the planet for the past several decades, but now that era is coming to an end.  In fact, the central bank of China has already announced that it will no longer be stockpiling more U.S. dollars.  The rest of the world is getting tired of playing our game.  Our debt is wildly out of control and we are creating money as if there was no tomorrow.  As the rest of the world starts moving away from the U.S. dollar, global power is going to shift even more to the East, and that is going to have very serious consequences for ordinary Americans. (Read More...)

40 Ways That China Is Beating America

40 Ways That China Is Beating AmericaChina is wiping the floor with the United States on the global economic stage, and most Americans are so clueless that they have absolutely no idea what is happening.  The number one global economic superpower is in an advanced state of decline, and the number two global economic superpower is becoming stronger with each passing day.  Unless something truly dramatic happens, it is only a matter of time before China overtakes America and become the dominant economic force on the planet.  In fact, China is already exercising economic superiority over the United States in a whole host of ways.  China produces more goods than we do, China does more total trade in goods with the rest of the world than we do, China produces more cars than we do, China produces more gold than we do, China consumes more energy than we do, China produces more coal than we do and China produces more steel than we do.  Every single year, we buy far more from them than they buy from us, and this has made them exceedingly wealthy.  Our politicians regularly make trips over to China to beg them to lend us back some of the money that they have taken from us.  Today, we owe China more than a trillion dollars and the Chinese are sitting on the biggest pile of foreign currency reserves that the world has ever seen.  All of this wealth has fundamentally transformed the nation of China over the past couple of decades.  Just check out the startling photographs of China from space in this article that show how China dramatically changed between 1992 and 2010.  As China continues to become stronger and as America continues to become weaker, will our children some day wake up in a world where the Chinese are telling them what to do? (Read More...)

We Are Witnessing The Slow, Tortuous Death Of The American Worker

We Are Witnessing The Slow, Tortuous Death Of The American WorkerOnce upon a time, the U.S. economy produced a seemingly unending supply of good paying jobs that enabled American workers to buy homes, raise families and live the American Dream.  But now all of that has changed.  Over the past several decades, there have been some fundamental shifts in our economy that have steadily eroded the value of the American worker.  Thanks to incredible advances in robotics, computers and other fields of technology, many economic activities that once required a tremendous amount of manpower now require very little.  Nothing is going to reverse those technological advances, so the jobs that have been lost as a result are now gone forever.  But there are millions of other good jobs that we have lost that we could have done something about.  Over the past couple of decades, millions upon millions of American jobs have been shipped overseas.  Thanks to a whole host of “free trade” agreements that our politicians promised would be very good for our economy, U.S. workers have now been merged into a global labor pool with hundreds of millions of workers on the other side of the globe that live in countries where it is legal to pay slave labor wages.  In such a situation, it is only natural for big corporations to shift production from high wage areas to low wage areas.  Unemployment in America has skyrocketed and so have corporate profits.  Today, corporate profits as a percentage of U.S. GDP are at an all-time high, but wages as a percentage of U.S. GDP are near an all-time low.  The lack of decent jobs in the United States is one of the primary reasons why we are in an economic crisis that never seems to end, and things are not going to turn around any time soon.  We truly are witnessing the slow, tortuous death of the American worker, and politicians from both political parties are just standing aside and letting it happen. (Read More...)

The Inflation Rate Is A Lie Too

Can we believe any of the economic numbers that the government is feeding us these days?  Most of the focus recently has been on the bizarre jobs report that the government released last Friday, but the truth is that the inflation rate is a lie too.   In fact, the way that the government calculates inflation has changed more than 20 times since 1978.   The government is constantly looking for ways that it can make inflation appear to be even lower.  According to John Williams of shadowstats.com, if inflation was measured the same way that it was back in 1990, the inflation rate would be about 5 percent right now.  If inflation was measured the same way that it was back in 1980, the inflation rate would be about 9 percent right now.  But instead, we are expected to believe that the inflation rate is hovering around 2 percent.  Well, anyone that goes to the supermarket or fills up their vehicle with gasoline knows that prices are going up a lot faster than that.  Just about everything that we buy on a regular basis is steadily becoming more expensive, and so most Americans are not buying it when government officials tell us that there is barely any inflation right now. (Read More...)

Thanks Obama – Here Are 24 Stats That Show How Much You Have Royally Messed Up Our Economy

Under Barack Obama, the U.S. economy has performed worse than it did under any other president since the end of the Great Depression.  After every other recession since World War II, the U.S. economy always regained what was lost and got even stronger before the next recession began.  During this “economic recovery”, we have not even come close to getting back to where we were in 2008.  In fact, the number of Americans living in poverty and the number of Americans that are dependent on the government both continue to explode even as Barack Obama runs up trillions of dollars of new debt.  Anyone that believes that Barack Obama is going to “fix the economy” if he is given another four years in the White House has taken way too many sips of the Obama kool-aid.  The truth is that Barack Obama is not going to save you.  Barack Obama has royally messed up our economy (along with a lot of other things) and that is not something we should be thanking him for. (Read More...)

Completely Surrounded By Psychopaths And Sociopaths As We Approach The Edge Of Societal Collapse

Do you remember when America was a place where you could attend a public gathering without having to worry if a sociopath was going to set off a bomb or start wildly shooting people?  Do you remember when America was a place where you could walk down the street without having to worry that a vicious pack of teens might attack you for no reason whatsoever?  Do you remember when America was a place where you could leave your car unlocked, your house unlocked and your garage open without having to worry about thieves?  Well, only old timers are likely to remember a time when you could leave your front door unlocked, but it was once like that in America.  Over the past 50 years America has fundamentally changed.  Once upon a time you could trust just about everybody, but these days it is difficult to find anyone that you can truly trust.  We are literally surrounded by psychopaths and sociopaths as we approach the edge of societal collapse.  The truly frightening thing is that we are watching society break down rapidly even though economic conditions are still relatively good.  If this is how bad things are right now, what are they going to look like after the economy collapses and people become really desperate? (Read More...)

Only 24.6 Percent Of All Jobs In The United States Are Good Jobs

Do you want to know why it seems like good jobs are very rare in the United States today?  It is because good jobs are very rare in the United States today.  According to a paper that was just released by the Center for Economic and Policy Research, only 24.6 percent of all American jobs qualified as “good jobs” in 2010.  Over the past several decades, there has been increasing pressure on corporations to reduce expenses and increase corporate profits.  One of the biggest expenses that any corporation faces is labor.  Large corporations all over the globe are in an endless race to gain a competitive advantage by pushing labor costs as low as possible.  Sometimes this is done by using technology.  Computers, automation, robotics and other forms of technology have eliminated millions of jobs in the United States and those jobs are never coming back.  Millions of other jobs have been eliminated by offshoring.  In our globalized economy, American workers have been merged into one giant labor pool with everyone else.  That makes it very tempting for big corporations to move jobs from areas where workers are very expensive (such as the United States) to areas of the world where it is legal to pay slave labor wages.  When big corporations do this, corporate profits go up, but the number of good jobs in the United States goes down.  As a result, there is increased competition for the jobs that remain in the United States and this drives down wages.  Meanwhile, the cost of living just keeps going up.  So millions of American families have fallen into poverty in recent years, and millions of others have gone deep into debt in an attempt to survive.  This dynamic is absolutely shredding the middle class in the United States. (Read More...)