For those of us who have been watching the United States decline since the signing of GATT and NAFTA, we knew it was just a matter of time before the United States was no longer a world leader.
When Bill Clinton signed the GATT and NAFTA trade treaties, we knew it just a matter of time before the U.S. slipped into irrelevance.
U.S. exports and imports for the year 2012 totaled $3.82 trillion.
China’s exports and imports for the year 2012 totaled $3.87 trillion.
Decline of the United States
For the past 20 years free trade has stripped the United States of our factories. If you wanted to start with when the U.S. took its first step towards decline, we need to go back the the 1970s as toy manufacturers moved their factories to china.
In the early to mid-1980s shipyards all across the southern part of the United States shutdown. In southeast Texas alone close to 10,000 people lost their jobs when Bethlehem shipyard in Beaumont Texas and and Livingston shipyard in Orange Texas closed. Those good paying jobs disappeared and have yet to return 3 decades later.
Where did those jobs go? To low wage nations in Asia.
How much more can the middle class take
Price of everything keeps going up while wages are stagnated. How long until the collapse of 2008 are regular events?
The middle class can barely afford to buy food and pay their basic bills, much less save to buy a home.