posted in the "Trading report" Wed Oct 13th,2010.
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Is America In Decline? 24 Statistics About The United States Economy That Are Almost Too Embarrassing To Admit
Does anyone really want to hear that America is in decline? For decades, most of us have been raised to believe that the United States is "number one" and that anyone who doubts that fact is a "gloom and doomer" that should just pack up and move to "Russia" or "Iraq" or some other country where things are not nearly as good. But does it do us or future generations any good to ignore the very serious signs of trouble that are erupting all around us? The truth is that it is about time to wake up and admit how much trouble we are actually in. The U.S. government is absolutely drowning in debt. The entire society is absolutely drowning in debt. We are being slaughtered in the arena of world trade, and every single month tens of billions of dollars (along with large numbers of factories and jobs) leave our shores for good. Our infrastructure is failing, our kids are less educated and our incomes are going down. We have serious, serious problems. At one time, the U.S. economy was so dominant that it was not even worth talking about who was in second place. That is no longer the case in 2010. Our forefathers handed us the greatest economic machine in history and we have allowed it to fall apart right in front of our eyes. A national economic crisis of historic proportions is getting worse with each passing month, and yet most of our leaders seem to be asleep at the switch.
So is American in decline? Well, read the statistics below and decide for yourself. The reality is that when you start connecting the dots it gets really hard to deny what is going on.
Urgent action must be taken if things are going to be turned around. It is time to get our heads out of the sand. It is not guaranteed that the United States will always be the greatest economy in the world or that we will even continue to be prosperous.
For many Americans, it will be incredibly difficult to admit that our nation has become a debt addict and an economic punching bag for the rest of the world.
But if we are never willing to admit what the problems are, how are we ever going to come up with the solutions?
What you are about to read below is going to absolutely shock many of you. But hopefully it will shock you enough to get you to take action. We desperately need to change course as a nation.
The following are 24 statistics about the United States economy that are almost too embarrassing to admit....
#1 Ten years ago, the United States was ranked number one in average wealth per adult. In 2010, the United States has fallen to seventh.
#2 The United States once had the highest proportion of young adults with post-secondary degrees in the world. Today, the U.S. has fallen to 12th.
#3 In the 2009 "prosperity index" published by the Legatum Institute, the United States was ranked as just the ninth most prosperous country in the world. That was down five places from 2008.
#4 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th.
#5 The economy of India is projected to become larger than the U.S. economy by the year 2050.
#6 One prominent economist now says that the Chinese economy will be three times larger than the U.S. economy by the year 2040.
#7 According to a new study conducted by Thompson Reuters, China could become the global leader in patent filings by next year.
#8 The United States has lost approximately 42,400 factories since 2001. Approximately 75 percent of those factories employed at least 500 workers while they were still in operation.
#9 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
#10 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.
#11 In 1959, manufacturing represented 28 percent of all U.S. economic output. In 2008, it represented only 11.5 percent.
#12 The television manufacturing industry began in the United States. So how many televisions are manufactured in the United States today? According to Princeton University economist Alan S. Blinder, the grand total is zero.
#13 As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941.
#14 Back in 1980, the United States imported approximately 37 percent of the oil that we use. Now we import nearly 60 percent of the oil that we use.
#15 The U.S. trade deficit is running about 40 or 50 billion dollars a month in 2010. That means that by the end of the year approximately half a trillion dollars (or more) will have left the United States for good.
#16 Between 2000 and 2009, America's trade deficit with China increased nearly 300 percent.
#17 Today, the United States spends approximately $3.90 on Chinese goods for every $1 that China spends on goods from the United States.
#18 According to a new study conducted by the Economic Policy Institute, if the U.S. trade deficit with China continues to increase at its current rate, the U.S. economy will lose over half a million jobs this year alone.
#19 American 15-year-olds do not even rank in the top half of all advanced nations when it comes to math or science literacy.
#20 Median household income in the U.S. declined from $51,726 in 2008to $50,221 in 2009. That was the second yearly decline in a row.
#21 The United States has the third worst poverty rate among the advanced nations tracked by the Organization for Economic Cooperation and Development.
#22 Since the Federal Reserve was created in 1913, the U.S. dollar has lostover 95 percent of its purchasing power.
#23 U.S. government spending as a percentage of GDP is now up toapproximately 36 percent.
#24 The Congressional Budget Office is projecting that U.S. government public debt will hit 716 percent of GDP by the year 2080.
Please share these statistics with as many family members and friends as you can. It is time to get real. It is time to admit that we have some really big problems.
America is in decline and the situation is getting worse by the day. If we are not willing to admit how bad things really are, then we are never even going to have a chance to find the solutions that we need.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
COMMENTARY BY JAMES: Oct 13th, 2010.
I chose the above item from my many sources, to highlight that finally they (Americans) may be coming to terms with the costs of their 30 odd years of National Corporatism and it's version of the Anglo Saxon Capitalist model, as the Global engine of growth! It failed, and I wish them well in their efforts to remodel their economy for the future. What is truly frightening for me, is that my fellow Canadians, are very much still taking the "ostrich, head in the sand" approach to the practical economic realities of this awakening south of the border! Particularly the corporate sector, that pines for the days just passed, when massive unearned profits were easily achieved and unearned bonuses paid like clockwork!
The full effects of an American reaction to their fiscal and social crises, cannot be yet accurately forecast? But one thing is certain, that whatever they choose to do to regain their economic stability, will have substantial repercussions for the Canadian economy! As this unfolds, we will begin to see the weakness of our political leadership here at home, and the failure of the Harper Government, to implement sensible economic plans, to protect our nation from the Tsunami of changes an overly protective and Jingoistic movement in the US political and business dynamic could have, upon our north south trade relations?
With some spiritualistic idea that we are immune to recession, because we "lucked out" in not being particularly affected either way by the Global banking crisis. Harper and Flaherty appear to be confident, that as long as we focus our eyes upon "good" relationships with our southern neighbors, we need not worry, as Canada will continue to prosper. WAKE UP CANADA! One thing that will for sure not survive the change, is any real effective free trade agreement!
Losing the seat at the United nations security council vote recently, together with the diplomatic mess with the UAE , as well as many of the past political positions, taken by our "dear absent leader" Mr Harper, and his fundamentalist approach to social issues, has been telling the world, that Canada is no longer the bastion of multicultural purity, and the best leader in conflict resolution, that it once was!
Additionally, every time we have a conservative government in power, for some reason they seem to want to join themselves at the hip, to the Right wing Republican party in the U.S? From Mulroney singing "When Irish Eyes are smiling' with Reagan, to Joe Clarks faux pas in the middle East, and now Harper's continuing insistence, on applying his version of puritan morality upon the world! We are once again faced with a Canada, that is viewed by the powers of the new Global dynamic, as a puppet of the United states Interests, both domestically and worldwide!
In this new Global economy, this is just no longer acceptable! If now is not the time for Canada to embellish it's abilities in the eyes of the world, and become a significant and self reliant leadership force in the new world, when will it ever be the right time? Canada's weight has long been under question? Now is the time to show that we have substance and weight behind our niceness as a people, and that we are an independent nation! For too many years we have been forced to swallow our national pride and subject ourselves to the whims and fancies of our southern cousins! We benefited no doubt, but we have payed our dues in our support of their various agendas for years, even following them blindly into ill advised conflicts and disputes. Our industries were historically suffocated at birth to assure American workers had an advantage, and in return our brightest minds were allocated slots in American schools, to educate them in the American way! Many of them never returned home with their brilliance and knowledge? What is wrong with the Canadian way for a change? I kinda like my nation and it's people. I think our schools can and do compete well with any nation?
As an analyst, I see little hope for the American economy recovering to any great degree until at least 2018 in any event. I see a long climb ahead for them. I wish them the best as I said, but does Canada, with all its sparkling newness and opportunity on the Global stage, need to sit back again, as we did last century, and wait for this American eventuality, to maybe, or maybe not occur? Where is our leadership, now that we need to move forward and claim our rightful position, amongst the strong and vibrant nations that will lead this 21st century.
Our "Dear leader" instead is focused upon playing divisive policies in Ottawa and Quebec, and using archaic leverages and methods of hate politics, that he surely must have learned from his luncheons in New York with the punditry at FOX broadcasting.(The experts on goebbels like rightist propaganda)! Mr Harper is well remembered in my younger days for his remarks that, "this Canada, is a second class socialist state" . I have news for Mr Harper, better a Canadian socialist state, than an American Socialist Corporations puppet! It also is not a nation to be easily fooled, by jingoistic propaganda from the diseased minds of the FOX punditry or the Websites such as "Canada Free press" and their ideologues, that espouse American right wing extremist fundamentalist tenets, as if they are Canadian values. Canadians know they are not!
That we need leadership is clear, but we also need conservative economic and fiscally responsible government. I therefore respectfully suggest to Mr Ignatieff (or his successor), that he focus on these matters as a platform to establish a basis for a change in Government, that Canadians can truly believe in! The majority of Canadians will support this I believe and "now is the time for Change" (to quote an American Leader)?
James M. Convey
For additional material on this theme, refer to my website (Canadas weight 1 and 2) www.jamesconvey.com
-------------------------------------------------------------
Is America In Decline? 24 Statistics About The United States Economy That Are Almost Too Embarrassing To Admit
Does anyone really want to hear that America is in decline? For decades, most of us have been raised to believe that the United States is "number one" and that anyone who doubts that fact is a "gloom and doomer" that should just pack up and move to "Russia" or "Iraq" or some other country where things are not nearly as good. But does it do us or future generations any good to ignore the very serious signs of trouble that are erupting all around us? The truth is that it is about time to wake up and admit how much trouble we are actually in. The U.S. government is absolutely drowning in debt. The entire society is absolutely drowning in debt. We are being slaughtered in the arena of world trade, and every single month tens of billions of dollars (along with large numbers of factories and jobs) leave our shores for good. Our infrastructure is failing, our kids are less educated and our incomes are going down. We have serious, serious problems. At one time, the U.S. economy was so dominant that it was not even worth talking about who was in second place. That is no longer the case in 2010. Our forefathers handed us the greatest economic machine in history and we have allowed it to fall apart right in front of our eyes. A national economic crisis of historic proportions is getting worse with each passing month, and yet most of our leaders seem to be asleep at the switch.
So is American in decline? Well, read the statistics below and decide for yourself. The reality is that when you start connecting the dots it gets really hard to deny what is going on.
Urgent action must be taken if things are going to be turned around. It is time to get our heads out of the sand. It is not guaranteed that the United States will always be the greatest economy in the world or that we will even continue to be prosperous.
For many Americans, it will be incredibly difficult to admit that our nation has become a debt addict and an economic punching bag for the rest of the world.
But if we are never willing to admit what the problems are, how are we ever going to come up with the solutions?
What you are about to read below is going to absolutely shock many of you. But hopefully it will shock you enough to get you to take action. We desperately need to change course as a nation.
The following are 24 statistics about the United States economy that are almost too embarrassing to admit....
#1 Ten years ago, the United States was ranked number one in average wealth per adult. In 2010, the United States has fallen to seventh.
#2 The United States once had the highest proportion of young adults with post-secondary degrees in the world. Today, the U.S. has fallen to 12th.
#3 In the 2009 "prosperity index" published by the Legatum Institute, the United States was ranked as just the ninth most prosperous country in the world. That was down five places from 2008.
#4 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th.
#5 The economy of India is projected to become larger than the U.S. economy by the year 2050.
#6 One prominent economist now says that the Chinese economy will be three times larger than the U.S. economy by the year 2040.
#7 According to a new study conducted by Thompson Reuters, China could become the global leader in patent filings by next year.
#8 The United States has lost approximately 42,400 factories since 2001. Approximately 75 percent of those factories employed at least 500 workers while they were still in operation.
#9 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
#10 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.
#11 In 1959, manufacturing represented 28 percent of all U.S. economic output. In 2008, it represented only 11.5 percent.
#12 The television manufacturing industry began in the United States. So how many televisions are manufactured in the United States today? According to Princeton University economist Alan S. Blinder, the grand total is zero.
#13 As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941.
#14 Back in 1980, the United States imported approximately 37 percent of the oil that we use. Now we import nearly 60 percent of the oil that we use.
#15 The U.S. trade deficit is running about 40 or 50 billion dollars a month in 2010. That means that by the end of the year approximately half a trillion dollars (or more) will have left the United States for good.
#16 Between 2000 and 2009, America's trade deficit with China increased nearly 300 percent.
#17 Today, the United States spends approximately $3.90 on Chinese goods for every $1 that China spends on goods from the United States.
#18 According to a new study conducted by the Economic Policy Institute, if the U.S. trade deficit with China continues to increase at its current rate, the U.S. economy will lose over half a million jobs this year alone.
#19 American 15-year-olds do not even rank in the top half of all advanced nations when it comes to math or science literacy.
#20 Median household income in the U.S. declined from $51,726 in 2008to $50,221 in 2009. That was the second yearly decline in a row.
#21 The United States has the third worst poverty rate among the advanced nations tracked by the Organization for Economic Cooperation and Development.
#22 Since the Federal Reserve was created in 1913, the U.S. dollar has lostover 95 percent of its purchasing power.
#23 U.S. government spending as a percentage of GDP is now up toapproximately 36 percent.
#24 The Congressional Budget Office is projecting that U.S. government public debt will hit 716 percent of GDP by the year 2080.
Please share these statistics with as many family members and friends as you can. It is time to get real. It is time to admit that we have some really big problems.
America is in decline and the situation is getting worse by the day. If we are not willing to admit how bad things really are, then we are never even going to have a chance to find the solutions that we need.
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
COMMENTARY BY JAMES: Oct 13th, 2010.
I chose the above item from my many sources, to highlight that finally they (Americans) may be coming to terms with the costs of their 30 odd years of National Corporatism and it's version of the Anglo Saxon Capitalist model, as the Global engine of growth! It failed, and I wish them well in their efforts to remodel their economy for the future. What is truly frightening for me, is that my fellow Canadians, are very much still taking the "ostrich, head in the sand" approach to the practical economic realities of this awakening south of the border! Particularly the corporate sector, that pines for the days just passed, when massive unearned profits were easily achieved and unearned bonuses paid like clockwork!
The full effects of an American reaction to their fiscal and social crises, cannot be yet accurately forecast? But one thing is certain, that whatever they choose to do to regain their economic stability, will have substantial repercussions for the Canadian economy! As this unfolds, we will begin to see the weakness of our political leadership here at home, and the failure of the Harper Government, to implement sensible economic plans, to protect our nation from the Tsunami of changes an overly protective and Jingoistic movement in the US political and business dynamic could have, upon our north south trade relations?
With some spiritualistic idea that we are immune to recession, because we "lucked out" in not being particularly affected either way by the Global banking crisis. Harper and Flaherty appear to be confident, that as long as we focus our eyes upon "good" relationships with our southern neighbors, we need not worry, as Canada will continue to prosper. WAKE UP CANADA! One thing that will for sure not survive the change, is any real effective free trade agreement!
Losing the seat at the United nations security council vote recently, together with the diplomatic mess with the UAE , as well as many of the past political positions, taken by our "dear absent leader" Mr Harper, and his fundamentalist approach to social issues, has been telling the world, that Canada is no longer the bastion of multicultural purity, and the best leader in conflict resolution, that it once was!
Additionally, every time we have a conservative government in power, for some reason they seem to want to join themselves at the hip, to the Right wing Republican party in the U.S? From Mulroney singing "When Irish Eyes are smiling' with Reagan, to Joe Clarks faux pas in the middle East, and now Harper's continuing insistence, on applying his version of puritan morality upon the world! We are once again faced with a Canada, that is viewed by the powers of the new Global dynamic, as a puppet of the United states Interests, both domestically and worldwide!
In this new Global economy, this is just no longer acceptable! If now is not the time for Canada to embellish it's abilities in the eyes of the world, and become a significant and self reliant leadership force in the new world, when will it ever be the right time? Canada's weight has long been under question? Now is the time to show that we have substance and weight behind our niceness as a people, and that we are an independent nation! For too many years we have been forced to swallow our national pride and subject ourselves to the whims and fancies of our southern cousins! We benefited no doubt, but we have payed our dues in our support of their various agendas for years, even following them blindly into ill advised conflicts and disputes. Our industries were historically suffocated at birth to assure American workers had an advantage, and in return our brightest minds were allocated slots in American schools, to educate them in the American way! Many of them never returned home with their brilliance and knowledge? What is wrong with the Canadian way for a change? I kinda like my nation and it's people. I think our schools can and do compete well with any nation?
As an analyst, I see little hope for the American economy recovering to any great degree until at least 2018 in any event. I see a long climb ahead for them. I wish them the best as I said, but does Canada, with all its sparkling newness and opportunity on the Global stage, need to sit back again, as we did last century, and wait for this American eventuality, to maybe, or maybe not occur? Where is our leadership, now that we need to move forward and claim our rightful position, amongst the strong and vibrant nations that will lead this 21st century.
Our "Dear leader" instead is focused upon playing divisive policies in Ottawa and Quebec, and using archaic leverages and methods of hate politics, that he surely must have learned from his luncheons in New York with the punditry at FOX broadcasting.(The experts on goebbels like rightist propaganda)! Mr Harper is well remembered in my younger days for his remarks that, "this Canada, is a second class socialist state" . I have news for Mr Harper, better a Canadian socialist state, than an American Socialist Corporations puppet! It also is not a nation to be easily fooled, by jingoistic propaganda from the diseased minds of the FOX punditry or the Websites such as "Canada Free press" and their ideologues, that espouse American right wing extremist fundamentalist tenets, as if they are Canadian values. Canadians know they are not!
That we need leadership is clear, but we also need conservative economic and fiscally responsible government. I therefore respectfully suggest to Mr Ignatieff (or his successor), that he focus on these matters as a platform to establish a basis for a change in Government, that Canadians can truly believe in! The majority of Canadians will support this I believe and "now is the time for Change" (to quote an American Leader)?
James M. Convey
For additional material on this theme, refer to my website (Canadas weight 1 and 2) www.jamesconvey.com