EconomyInCrisis.org - The US Economy - What is the matter with the US? is the US sick? can’t they do better? - by Thomas Heffner

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The US Economy - What is the matter with the US? is the US sick? can’t they do better? - by Thomas Heffner

" American owned manufacturing is becoming obsolete and second rate. The US is no longer competitive with Japan, China and others. As the US can’t compete with China’s wage rates, and Japan’s technology in manufacturing, the US has become unquestionably second rate (auto industry is a prime example). Ask yourself in what areas does the U.S. lead the world? America is the only major industrialized country which depends on foreign suppliers for large amounts of steel. It also depends on foreigners for critical inputs needed by strategic industries. When you compare US strengths and weaknesses with Japan it’s so easy to see (but many do not want to believe it) that the U.S. is developing an economic profile of a 3rd world country masquerading as a super power. How can it afford to fight three wars (Iraq, Afghanistan, and the internal terrorist war) when it can’t even support itself? "