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I'm just an average guy trying to get my arms around this massive problem. The government has and never will do anything proactive for the American people. The government is too slow and only reacts to catastrophic events, which is way too late to solve the problem(s). Politicians usually throw more money at the problem, which results in the continuance of ineffective bureaucratic programs. Just take a look at out primary education system, with an alarming failure rate of 40 to 50 percent of graduating students.
I retired from the steel industry in 1998. I remember when a movie was produced for United States Steel Corporation in the early 1970's called "Where's Joe?" This was their reaction to the major attack by Japan in selling steel to the USA at below market prices. The Japanese government subsidized their steel industry, creating their ability to undercut U.S. steel manufacturers pricing. It worked! Middle management received reductions in pay, while the USWA continued their mainstream thinking and did not really relent in their pursuit of higher wages and benefits. Well, in the pursuing years we all know what happened. Major steel producers like U.S. Steel, Bethlehem, J&L, Youngstown Sheet and Tube, either shut down a considerable number of mills, or went bankrupt under Chapter 11, or went totally out of business. Nothing was done to assist or level the playing field by our government. Therefore, thousands of good jobs went away.
I'm surprised it took almost 30 years after the great steel manufacturing debacle, for the auto industry to go through downsizing, restructuring, sell-outs to foreign investors, and again a huge loss of good jobs. Of course, the auto industry had the advantage against the steel industry, of outsourcing many of the parts, ultimately reducing the per-unit-costs, maintaining profits, until the labor costs and benefits finally took its toll. The Japanese are close to taking the lead as the #1 auto manufacturer in the world. The Japanese are the largest holder of US debt. Scary? We are now a subservient nation. Sure, we assemble their cars here in the USA, and American workers put them together, but overall the corporate money goes back to Japan for investing in whatever.
America is under a huge attack and nothing is being done. Our debt, both government and individual, is totally out of control. Our government continues to aid in the devaluation of the dollar by printing more and more money – selling debt to raise money for political payoffs to the US citizens in the form "an economic stimulus". Let's buy American voter's for the next election. This country is in trouble more than economically.
I'm watching my retirement nest egg and home value going down the tubes. Through the volatile market and inflation I know things will be rough going in the future. I'm really getting scared and losing hope by the day. I have tried writing to Representatives and Senators, but it all falls on deaf ears. Americans will only regain their power when they march on Washington when they cannot get enough food to eat and no good jobs will be available. This country cannot survive on service oriented industries. They, like attorneys, do not create wealth through manufacturing; they only serve to redistribute wealth.
Sam
Saint Petersburg, FL
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