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Stop Selling America

Published 06/24/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

As our dollar declines, so does the number of American owned industries. In 2007 foreign acquisitions totaled a record $414 billion sold, up 90 percent from 2006, according to a recent News Blaze article. We need to get the message out … America should stop selling itself at any cost.

Our industries are leaving, earning money in another country while fostering technological advances for foreigners. The sound recording industry, a once former American icon, is 97 percent foreign owned. The Japanese, who financed $517.2 billion of our government debt, are more than happy to cheaply purchase our companies, turn a profit from them and then lend us money. This practice must stop.

Source News Blaze:

In addition to iPods, laptops and other consumer goods, U.S. companies increasingly are found on the shopping lists of European, Canadian and other foreign buyers drawn to the United States by the falling U.S. dollar.

In 2007, foreign investors bought stakes in U.S. companies whose businesses range from financial services and real estate to steel making and lighting. Foreign acquisitions totaled a record $414 billion, almost 90 percent more than the previous year and almost 30 percent more than 2000's record, according to Thomson Financial, an economic data and research firm.

The relative weakness of the U.S. dollar creates opportunities for companies in countries with stronger currencies. They can buy U.S. businesses at bargain prices, according to economists.

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