The United States is facing an
economic disaster of an enormous magnitude a few countries have ever
experienced. Most individuals are oblivious to the crisis hiding in plain sight,
unaware of how it initiated and much less how to put an end to it. While many
persist in the “superpower mentality”, the nation has slowly become a
second-class country in many aspects.
The United States no longer
produce what Americans need to sustain themselves. The U.S imports much more
than it exports and is selling off its assets taking on massive debts to sustain
a standard of living it can no loner afford. It even fails to acknowledge
predatory foreign trade practices undermining U.S. industry. Instead one
encourages U.S. manufacturers to design, engineer, and produce in third world
markets like Mexico and China.
U.S needs to take immediate
action to reverse the out-of-control trade deficits. While it’s regulatory and
tax systems have unnecessarily raised domestic business costs, the fundamental
cause of the present crisis is three decades of extremely detrimental U.S. trade
and globalization policies.
We should not simply rest on the
faith that other countries will hold themselves to our standards in areas such
as, labor and competition policy. These standards affect the cost of production.
If other countries fail to adhere to these standards, they gain an unfair cost
advantage
The U.S. industries have been so
disarmed and dismantled that it now lacks, capacity and investment capital to
facilitate self-sustaining production.
