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Wake Up America - Can't We See What Is Happening To Us

Published 07/24/06 Thomas Heffner - Print Article
E-mail - editor@economyincisis.org

WE ARE SELLING OUT AND NO LONGER OWN OR CONTROL OUR OWN COUNTRY

We are selling out and no longer own or control our own country and must now live on imports while incurring massive debts that can only be repaid through the sale of our wealth producing companies and assets. Very soon we will not even be able to protect or support ourselves as we have sold over 8000 of our best wealth producing companies in the last 10 years to foreigners.

RCA is now a French Company, Zenith is a Korean company, Frigidaire is a Swedish Company, IBM Personal Computer Division with its 500 patents is a Chinese Company, Chrysler is a German Company (they also produced our tanks in WWII), Westinghouse Nuclear Energy is presently being sold to a Japanese Company. Lucent Technology, a former research division of AT&T, along with all the patents acquired from the beginning of the phone system, is now a French company. With the sale of these manufacturing companies the future profit and technologies all belong to foreigners.

Now whole industries are controlled by foreigners. The movies, the thought and culture provoking industry is now 75% foreign owned, book publishing now 63% foreign owned, music 80% foreign owned, cement - a choke point industry 81% foreign owned and TV manufacturing 100% foreign owned.

As we produce less with the remaining American owned factories our debts compound. In 2005, our government budget debt was over 300 billion and our Balance of Trade Deficit (debt) from excessive imports over exports was $723 Billion, that is $1.4 million per minute and will increase to over $1.6 million per minute in 2006.

LIVING ON EVER INCREASING DEBT SINCE 1987:

Home mortgages from $1.8 Trillion to $8.2 Trillion
Consumer debt from $2.7 Trillion to $11 Trillion
Government budget debt over $8.2 Trillion
Household debt has quadrupled
The 2005 Balance of Trade Deficit (debt) $723 Billion, equals $1.4 Million Dollars leaving the country every minute to pay for excessive imports. This is the money foreigners accumulate to buy us out.

As we have become unable to produce enough for ourselves in America, we now outsource our manufacturing to China, Japan and others. This is resignation that we are no longer competitive in the world and can no longer be a productive manufacturing nation. To add another nail to our manufacturing coffin, we send our political leaders to foreign countries on bended knee to beg them to produce here in America (insource) so we can have labor jobs while they supply us with their technical expertise in their new factories that we have helped them build; the profit and technology resides with them however.

Honda, Toyota, Kia, Nissan and Mercedes Benz are excellent companies and build good cars. We have subsidized them to produce for us in our country, to give us jobs while GM & Ford are saddled with uncompetitive cost commitments to its workers made in previous times. Foreign companies have an advantage as they are not burdened with similar commitments. As a result, GM & Ford now find it difficult to compete on a level playing field and could possibly be acquired by foreigners or go out of business.

Our government helped Chrysler in the past when they were an American owned company and pulled them from the brink of bankruptcy before they ignominiously were allowed to sell out. Shouldn’t we help GM and Ford now also? If these companies (the former symbol of America’s vaunted industrial greatness) are allowed to go bankrupt, can the rest of America be far behind?

Do we want GM & Ford to go out of business or be acquired by foreigners and be totally dependent on foreigners for our cars and then perhaps most everything else?

MAKE YOUR VOICE HEARD. WRITE LETTERS TO THE EDITOR. ALSO ASK YOUR POLITICIANS WHAT THEY ARE DOING ABOUT THIS. IF YOU ARE NOT SATISFIED, DEMAND NEW POLITICAL LEADERS.

To see a list of foreign acquisitions of US companies since 1980 please log onto: www.economyincrisis.org

Click here to contact your Representative in Congress.

Unless the above article is already copyrighted, this article is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License, EIC grants permission to use this article in whole or in part provided attribution is given, preferably in the form of a link back to EconomyInCrisis.org.
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