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Chuck Norris: Solutions for the EconomyPublished 01/05/09 Dustin Ensinger - Print ArticleE-mail - editor@economyincisis.org With U.S. debt spiraling out of control, foreign investment paving the way for the Great American Sell-Off and it becoming more and more difficult for Americans to buy American-made products, of all people, Chuck Norris is offering a solution to America’s economic woes. In an opinion piece at World Net Daily, Norris implores Americans to take matters into their own hands, since their government seems to be unwilling or unable to do so. “I'm proposing a buyers' revolution, in which we all economically win that medal of valor,” he implores. “If the government isn't going to help us by securing our borders, reducing the outsourcing, ceasing debt through bogus bailouts and out-of-control spending, then we the people have got to take back the financial future of our country. The buck stops here – in America. That is one resolution we all should make in 2009 – Buy "Made in U.S.A." Don't just go green, spend green – in homemade products and services. If just half of the country followed suit, our down-turned economy would turn around in half the time.” Norris points out that, by not buying American, we are simply arming our economic competitors with the means to buyout and destroy America. In 2000, 97 percent of foreign investment in the U.S. was used to purchase existing U.S. assets. That is the case with most foreign investment. Rarely do foreign corporations pour money into the U.S. to build new factories or facilities that would employ Americans, more often than not foreign investment is in the form of mergers, acquisitions and purchases of existing U.S. assets, all of which are likely to cost Americans jobs. This is evidenced by the fact that $4,087.85 is spent per second to buy out American companies. “We say we can't afford to buy American – but maybe it's time to say we can't afford not to,” Norris says. “By supporting our homeland, we're not only investing in America and boosting the economy, we are helping to reverse staggering unemployment rates and keep companies from going under. We all can do our part to bail the water out of our sinking ship by buying American goods and services.” By buying foreign goods we are only allowing nations like China, Japan and Brazil to grow stronger by filling their coffers, which they in turn invest back into America, by buying out our companies and buying out our government directly. The U.S.’ total debt topped $10.7 trillion this year. At least $3 trillion of that is owed to foreign investors, the largest of whom is the nation of China which increased its holding of American debt by 42 percent over the past year. Some experts estimate that the U.S. could increase its debt by another $2 trillion over the next year, all of which would be financed by foreign governments. Soon, those nations may realize that the U.S. is flat broke and may no longer want to absorb anymore bad debt. "When you accumulate this amount of debt that we're moving into, it's not a given that our foreign friends are going to continue on the path they've been on," said G. William Hoagland, a longtime Republican budget analyst who now serves as vice president for public policy at the health insurer Cigna. "There's going to come a time when we can't even pay the interest on the money we've borrowed. That's default." America cannot continue on this unsustainable path of debt and the only way to reverse it is a wholesale change of U.S. economic policy that promotes U.S. manufacturing through fair trade instead of “free trade.” Otherwise, the liquidation of America will only continue at an even more hasty pace. “It's time to realize we're all together in this boat called America, and she is sinking. Government is not our salvation,” Norris says. “Our hope is not in Congress or even a political-messianic deliverance through the presidency. The only economic stimulus plan they should be preparing is the one that rewards manufacturers and consumers who promote and purchase American-made products and services.” Source World Net Daily:
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Since the US government stopped redeeming US dollars for gold, foreign governments and foreign individuals continue to use these dollars (and other US securities that they earned in exchange for their products that they exported to the USA) to purchase real estate, industries, breweries, hotels, factories, casinos, financial institutions and everything else of value that is located in the USA. We paid these foreigners with our dollars to manufacture or supply the things that we imported and consumed (rather than US citizens working to make these products ourselves in this country).
There is probably a limit to the amount of paper dollars that the foreign country manufacturing people and the foreign country raw material supplying people will continue to accept in payment. This limit will become apparent as soon as foreigners own everything of value in the USA and nothing is left for foreign dollar holders to buy with their dollars. This is selling of our children's legacy to foreign owners and the US government calls it "Investing in America".