America's Death By A Thousand Cuts

This article does a superb job of highlighting the immense jeopardy this country is in economically. No matter what the handful of indoctrinated minions in this forum will tell you, this country is headed for destruction if something isn't done. . . and soon. I must say I don't have my hopes up, though.

Anyway, this article needs to be read. It speaks the truth that the mainstream media just does not want us to know. This isn't scaremongering and it isn't hype. Anybody who thinks it is can keep their head burried in the sand -- I don't care.

----------------------------------------------------------------------------------------------------------------

http://www.newswithviews.com/Wooldridge/frosty57.htm

America's Death By
A Thousand Cuts​

By Frosty Wooldridge
May 16, 2005
NewsWithViews.com

Have you ever cut your finger while slicing an onion? How about a scrape on your elbow when you fell? Ever suffer sunburn? What happened when you suffered a bloody nose? Have you ever cut a major artery where you could have bled to death?

Today, America bleeds to death by a thousand cuts. We're bleeding from every sector of our society. At some point, the United States of America cannot and will not survive the bleeding. Why? Take a look.

Each day, Americans burn 20 million barrels (55 gallons per barrel) of oil in their cars, but we import over half of that oil from other countries. Therefore, that's $2.25 per gallon X 55=$123.75 X 10,000,000 barrels, which equals $1,237,500,000.00 we pay other countries daily. That's money that never returns to America. It's like America cutting its wrist. Meanwhile, we have NO energy conservation policy in America.

Last year, the trade deficit totaled $618 billion according to the New York Times. It's expected to exceed $700 billion in 2005. That's money going out that isn't coming into America.

Brian Williams of NBC stated that the Federal deficit will grow another $383 billon in 2006. Do you feel your pocketbook bleeding?

What about American enterprise? Recently, General Motors and Ford suffered their demotion to Junk Bonds. Ironically, China's Yuan is undervalued because it's tied to the American dollar, but the Yuan will jump when it is ultimately pegged to the Euro. Soon, the Euro will become the new standard for exchange as it displaces the dollar on the international money markets. But, if GM and Ford collapse, Michigan, Ohio, Indiana and Illinois will become basket cases because most of their jobs involve the auto industry.

In the high tech jobs arena, the H-1B, H-2B and L-1 visas were given to over 1,000,000 foreigners to displace American workers. Who is responsible? Your congressman and senators! Go to www.numbersusa.com and check out the report card on your senators or congressman and you'll mostly see F's.

The hemorrhaging accelerates when you realize that our Federal debt stands at $7.4 trillion. We pay over $600 million a day in interest payments. Bush bumped the debt ceiling by $800 million at the first of the year while borrowing $1.6 billion daily from foreign investors. Their interest rates bleed us further. Is the fabulously wealthy George Bush paying that interest? No, you are! The rich get richer and you get poorer. Further, you, the average American with a credit card carry an average of $8,000.00 balance (debt) on your credit card. That equals $2.0 trillion in consumer debt according to CBS News. Added to that bleeding, you're paying 18 percent APR on that debt credit card debt.

For more bleeding, over 20 million illegals siphon off $68 billion annually out of your taxpayer pocket as they use our schools, welfare, medical care and services. Folks, they're not just picking lettuce anymore. They're taking jobs away from Americans. Harvard's Professor Borjas of economics showed that illegal aliens displace American workers out of $200 billion in lost wages annually. We're not talking about a financial nose bleed. We're talking slashed arteries!

All the while, according to a recent Bears and Sterns report, illegals work off the books to the tune of $400 billion annually in uncollected IRS income taxes. Who makes up that money? You do with the blood, sweat and tears from your working legally in your country. What are the consequences? For starters California with three million illegals stands at $38 billion in debt and last year, 86 hospitals and ER wards bankrupted. Every single state in America is under horrific financial crisis because of unpaid taxes by illegals and their massive liabilities. What makes it worse; over three million illegals add their illegal working hands to the US workforce annually. Feel your life blood draining?

Home foreclosures and personal bankruptcies stand at an all time high for American citizens. How about the $80 billion annual price for the ongoing $30 billion Drug War that has solved nothing? What about the price of a home today that has doubled in 20 years? How about the $128 billion in cash leaving the USA annually to pay for the drugs coming across the Mexican border? How about $81 billion just appropriated for the Iraq War?

In the meantime, this Congress and president promote outsourcing, insourcing and offshoring of millions of jobs out of the America in a bloodbath that is cutting the Middle Class in the jugular. America's working poor can't find a job at a living wage-so-what happens? They stand in welfare lines and beg for food stamps. Feel the financial bloody laceration?

Additionally, illegal aliens send over $56 billion back to their home countries each year. In other words, they are slashing and slicing the Golden Goose. Over $15 billion bleeds to Mexico, $25 billion to South America and $16 billion to Asia. How does that feel when you fill out your annual income tax filing-that's if you have a job that pays a living wage?

Last year, America suffered a $230 billion trade deficit with China. Right now, China is licking its chops as they sell us billions in goods but buy nothing from us in return. Why? Because we've lost our manufacturing base which means we have nothing to sell. In fact, China aims to surpass Japan in total manufacturing output by 2015. By that time, the United States won't have anything to sell anyone in the world. How long do we keep spending money we don't have?

Where does that leave you and me? How about boiling to death in a caldron that is melting down our ability to function as a society? We're adding SUCH insane debt, we can't pay it off. Where does that leave us? We're on the edge of a financial cliff with no safety net. We're playing with fire that will burn us to death. Our Middle Class is headed for the Low Class. Our working poor are headed for welfare lines while illegals do the jobs that all Americans would work for a living wage, but can't because illegal aliens depress wages and steal jobs. What happens when another 20 million breach our borders and take even more of our jobs?

How long can we allow our leaders to take us down this path to self destruction?

America is in deep trouble. We need to replace 33 senators in the 2006 elections because they are deadwood. We need to replace the House of Representatives in that same election with men and women who will change course. We need to promote statesmen like Tom Tancredo for President of the United States. Go to www.teamamericapac.org and www.newfrontierscoalition.org to get the ball started in your state. If we don't change the captain and crew of the Titanic, we'll end up like the Titanic.

Write for that 28-point action letter to stop this nation-destroying madness. For you West Coast night owls, every Thursday you can catch yours truly in Las Vegas, Nevada on Mark Edwards' "Wake Up America" talk show on 50,000watt KDWN-Am-720 10:00 PM to midnight PT, or on the worldwide internet at www.wakeupamericafoundation.com On the home page, click on www.americanvoiceradio.com heard around the world. Five nights a week, Edwards engages patriots from across the nation to bring you the latest on this nation-destroying invasion. If you are affected by illegal aliens, please write 600 to 800 words for national publication. Your name will remain confidential.

© 2005 Frosty Wooldridge - All Rights Reserved

 

Well, what can the educated minority do about this?

And what do you think will be the eventual outcome, if you don't mind me asking?

 

Welcome to America

 

The eventual outcome of course is one world government...

 

Sure, America has a lot of economic problems, including some of the ones you mentioned (although some of the complaints listed in that article aren't problems at all). However, this article is overwhelmingly one-sided; America's economy has a lot of GOOD things going for it too: Americans pay the lowest taxes of any modernized country, Americans have a higher-than-average belief that money can buy happiness (which is a good thing from an economic perspective), and there is more social mobility in America even when compared to many countries with less wealth disparity. Real estate, oil, and consumer products tend to be cheaper in America than in Europe or Japan.

I certainly don't deny that we have our share of economic problems, such as the unfair trade policies practiced by China and the rise of the euro. However, the sky won't be falling anytime soon. To simply examine the bad aspects of the American economy, without also considering the good, won't give you an accurate picture of the US economy.

It isn't "burying your head in the sand" to not blindly accept everything mentioned in this article as proof of the coming downfall of America. Some of these criticisms leveled aren't valid at all. Yes, oil is expensive...but is it better to NOT have it? Yes, the trade deficit is a problem...but is it better to pay MORE for inferior quality goods just because they were made in America? Outsourcing may mean the loss of domestic jobs in the short-term...but is it better for businesses to have HIGHER costs and charge the consumer more, just to fulfill the self-righteous Americentric view that everyone, no matter what the state of their country's economy, deserves to earn $5.15 an hour? Wealth disparity in America may or may not be a problem (I haven't really made up my mind on that), but if it doesn't translate into less social mobility, what's the big deal? It's easier for a poor person to become rich in America than in many European nations. You know, Rat, for someone who calls himself a libertarian you seem to advocate very protectionist economic policies...

 

How so?

 

I don't claim to have all the answers. All I know is that it's good to at least be aware of what is going on in the world, since the corporate media refuses to cover anything that is not sugar coated or riddled with spin.

I think the outcome will be an economic depression -- whether it's five months from now or five years -- where lots of people will be out of work and forced to depend on the government for their survival.

People need to understand that this isn't far-fetched at all, and that the possibility of an other "terrorist" attack is very real. I think it's only a matter of time before a major city (or cities) is hit with a radiological or biological "dirty bomb." Given the situation we're in now, the effect on the economy would be absolutely catastrophic.

I know I'll probably be accused by someone of "spreading fear", but I'm not. All I know is that people need to be prepared for what's likely to come, whether sooner or later.

 

But what does any of this mean? What relevence does any of this hold in light of what was mentioned in the article, which far outweighs anything you suggested above? Why do you insist on using the same tactics and sugar-coating the mainstream media uses to deceive the public and keep them in the dark?

We pay the lowest taxes of any country? So?

Americans believe that money can buy happiness? So? Maybe this is part of the problem.

It's like a person that is looking at a car that has been totaled in a head-on collision, saying, "Well, at least the back bumper is ok."

Why do you only want to focus on the most trivial aspects of the economy, when there is so much that completely overshadows those things? There is so much that points to the fact that we are headed for economic disaster, yet you find it relevent to bring up the fact that Americans believe money can buy happiness? I mean, WTF? What planet are you living on?

What is going to happen when countries like China start dropping the dollar in favor of the Euro? What happens when countries stop lending us the $2 billion we need to barrow everyday just to stay afloat?

Don't you understand the simple fact that the dollar is only going to continue to drop as we drown in debt? It's only a matter of time before it catches up to us. It's already starting to!

We are the ones who are sending all of our manufacturing jobs overseas, so a job that would normally be done by an American worker for a decent wage can now be done for pennies in China, while the fat-cats profit and the little guy loses out.

So, will you please mention the "good things" about the American economy, like you said you would?

So, to you, it is more important to have cheap goods made in China than it is to have a country that can feed, clothe and shelter itself? So basically, what you're saying is that you agree with Bush's destructive economic policies?

I might not sound like a libertarian, but you sound a lot like a mainstream Republican.

If you consider the outsourcing of jobs "libertarian," let me never refer to myself as a libertarian again. Sometimes it's necessary for logic and common sense to prevail over the emptiness of political stereotyping.

 

I hardly think that calling for a fair examination of BOTH sides of the issue constitutes "keeping people in the dark."

People have more capital to spend on consumer products, or invest in businesses.

No. It spurs consumerism which fuels the American economy. It spurs investment with the expectation of getting-rich-quick, which fuels the American economy.

No it isn't, don't be a dumbass. I'm willing to examine BOTH the good and the bad of the American economy. You are willing to examine ONLY the bad, because you don't want anything America does to succeed. Don't tell me that I'M the one who isn't acknowledging the entire economic picture, because I'll be the first to admit that our economy does have problems. You, however, would never concede anything good about our economy.

I think you would actually be a fairly well-informed person, if only you would learn how to properly weigh evidence. Time and again, you gather one-sided evidence and deny the existence of any evidence to the contrary. Giving the other perspective a fair hearing doesn't mean changing your mind if the evidence still doesn't call for it.

Consumer confidence is a powerful economic indicator, as almost any economist will tell you. There isn't much that points to the "fact" that we are headed for an economic disaster...anyone can find statistics to "confirm" what they already believe about the economy. It's a matter of examining the big picture.

It would be a tremendous burden off of America's shoulders if China found someone else to leech the yuan off of.

While I wish that would happen so there would be more political will to balance the budget, I don't see it happening. What makes you think other countries would stop lending us money?

If amount of debt was the only indication of the value of a currency, the euro would be absolutely worthless. European nations, in general, have MUCH higher amounts of debt as a percentage of the GDP than the United States does, yet their currency is stronger.

As the dollar declines in value, American products would become cheaper on the international market, which would bring more investment into the country (and lessen the need for outsourcing which you despise so much), which would raise the value of the dollar. The "invisible hand" at work.

Who are you to decide what's a "decent wage"? If that Chinese worker didn't feel he was earning a decent wage, he wouldn't take the job. What "little guy" is losing out here? Free trade brings investment in to third-world countries, and allows industrialized businesses to profit more, improving their economies at home.

I've already mentioned at least four or five good things. Here are some more: America is more committed to free market and free trade policies than most other industrialized nations. America is less unionized than most other industrialized nations. Americans are more charitable toward the poor (both foreign and domestic) than the citizens of any other nation in the world, thus allowing for more social mobility. The psyche of America is much more individualistic than that of Europe or Japan, therefore American companies often have an advantage when it comes to finding new solutions to old problems.

What country are we talking about - China or America? China BENEFITS from having investment from American companies, for obvious reasons. America also benefits in a more subtle way - lower costs for American companies mean more competitive American companies and cheaper American goods.

No, idiot, I'm saying that you need to examine BOTH the good and the bad of our economy. Overall, it's remarkably average. Why does my willingness to examine BOTH sides of the issue imply ANY viewpoint? Are you so incapable of rational thought that you think that everyone who doesn't blindly accept your dogmatic tripe, must favor a certain set of policies?

Because only a mainstream Republican would try to say that our economy isn't about to plunge us into a Dark Age? That doesn't make any sense.

It is YOU who refers to yourself as a libertarian when in fact you're just a xenophobic fringe conservative a la Pat Buchanan.

 

Knowledge buys happiness. Get used to it. The people who know and can understand what's going on around them are the fittest, the most likely to succeed. Those in oblivion are doomed to repeat the mistakes of their predecessors. Hence history.
No I don't profess to know everything. Nor do I think I ever will. But I believe knowing more than the next guy might get you ahead of whatever game you enjoy playing.

 

Rat the problem with this is not the article but the fact that you are posting it, you just don’t seem to have any credibility when it comes to the subjects raised.

The information is terrible but as is all too clear the policies you would bring in to deal with them would very likely make things worse and what has become even more clear is that you seem to think they would as well.

In discussion of an article on immigration (also by Frosty Wooldridge ) the policies that you seem to support showed how they are more likely to make things worse for the American poor you have so far not even responded to those criticisms let alone refuted them. Those same criticisms could be raised in relationship to this Wooldridge article so what is your point in post this?

This is like a man professing pity for a family whose roof leaks but whose plan to help is to remove the roof all together.

**

Yes things are not perfect and we could discuss means of making them better but you as has been show time after time are incapable of doing that.

 

Rat

If you consider the outsourcing of jobs "libertarian," let me never refer to myself as a libertarian again. Sometimes it's necessary for logic and common sense to prevail over the emptiness of political stereotyping.


So what are your employment policies?


this country is headed for destruction if something isn't done.


So what polices would you bring in to 'save' it?

 

This article is mostly a demonstration of the need better economics education in this country.

That's right, and the Arabs aren't getting their oil back either. Duh. ECONOMIC INTELLIGENCE SCORE = 0

It never returns to America? I guess that is because we have no exports. Except that we do. And foreigners invest in America. What do you think they do with these dollars? Eat them? ECONOMIC INTELLIGENCE SCORE = 0

One might wonder how things are going for all those lucky countries with huge trade surpluses. Well, lets look at two - Japan and Germany, both of which have had surpluses for years if not decades (and Japan has pretty much zero illegal immigrants). Japan has stagnated for more than a decade. Yet despite its moribund economy, it is able to support debt THREE TIMES HIGHER than the US. But this writer and Rat want us to believe our economic doom is imminent - maybe only months away! - because we will be crushed under the burden of our impossible debt load.

The US economy grew faster than Germany in 9 of the last 10 years and is expected to grow nearly twice as fast in 2005 and 2006. Unemployment in Germany is more than double that of the US. Sounds like the trade deficit isn't really a good measure of the health of an economy. As Adam Smith said, "Nothing is more absurd than this doctrine of the balance of trade." He figured it out more than two hundred years ago, how long will it take Rat? ECONOMIC INTELLIGENCE SCORE = 0

This is completely idiotic. The Yuan won't need to change in value because it is pegged to the Euro, it can be pegged at exactly the current rate.

Actually they bought $35 billion in goods from us, how is that "nothing"? More importantly, when will people get their heads out of the sand and stop thinking that factories make an economy? We have left the manufacturing age behind, that's why we are richer than China. How long will it people take to figure this out? ECONOMIC INTELLIGENCE SCORE = 0

 

A libertarian-based economy would provide equal opportunity to everyone in a market that is truly free and unburdened by the excessive government regulation that has sent companies belly-up, while putting scores of people out of work.

Socialism does everything to destroy jobs through excessive regulation, making people dependent on the system to survive. The goal of socialism is to create a welfare state and a population that is dependent on an all-powerful government.

Socialist policies don't only negatively affect the working poor, but everyone.

 

What the author is saying is that the Yuan is devalued because it is pegged to the weak Dollar. But when the Dollar is dropped in favor of the Euro, the Yuan will regain its value.

It's funny how you accuse Wooldridge of being economically challenged, but you are automatically right based on a handful of irrelevent and biased statistics which, conveniently, are not referenced. Not to mention your penchant for spinning anything that goes against the official chorus line presented by the media.

Foreigners are investing in America, but what makes you think they will continue to as the dollar continues to drop? What is going to happen when foreigners become sick of loaning America money? Why are you failing to touch on this?

 

That doesn't make any sense. A weak dollar brings MORE foreign investment into the country, because American companies use US dollars. If I make widgets and sell them at $10 (5 euros), I'm going to sell a lot more than if the price was $10 (10 euros).

A weak dollar brings plenty of economic problems of its own...but lack of foreign investment in America isn't one of them.

Do you have any background in economics at all? Foreign banks aren't just going to suddenly decide, for no reason at all, that they're "sick of loaning America money."

 

Yes, I see that now. I misread what Pointbreak wrote. I thought he was referring to other countries investing in the dollar.

That's not true. I know because this has received a lot of talk from certain economists lately. With America's increasing debt and our reliance on outside money, it's only a matter of time before things start to dry up.

Yes, I do have some background in economics.

 

Maybe...but that time is far enough in the future that it doesn't warrant the-sky-is-falling scenarios just yet. European countries have much more debt in proportion to their GDP than America does, yet most of them are still borrowing money and will still be able to borrow money for years to come (with Sweden as the possible exception).

I have reservations about our ever-increasing debt too, but not because foreign banks are going to suddenly stop lending us money. Quite the opposite problem, actually - America has proven to be a worthwhile investment for them, so they're going to loan us even MORE money if the government requests it.

 

**


Now normally I would address my comments to the poster, but Rat has this tendency not to reply to criticisms of his ideas but I would still like to point out a few problems with his views.

**

It is impossible for a libertarian-based economy to provide equal opportunity to everyone?

You see to make it work the way libertarians say it would, would mean that everyone would have to have the same and equal access to the same and equal opportunities.

This would, amongst other things, entail that everyone would have to be raised to the same educational standard and be of equal health, it would also have to involve a distribution of wealth that even many communists would bulk at.

Without such measures there would be no equal opportunity only a far larger inequality of opportunity than is at this moment present in the US system.

For example –

To many libertarians the education of children should be totally in the hands of the parents, they would remove all state provision of education. It would be the ability of the parent to pay for education that would dictate what level of education their children would receive. Most people would calculate that for low paid worker that would mean very little. This would create a cycle of poverty with badly educated people producing badly educated kids and with only those having the time or money to educated their children to a high standard being able to get better jobs.

You could argue that they could bring it in gradually, but how? I mean as far as I can tell libertarians are philosophically opposed to the redistribution of wealth.

Think about it. Health care under a libertarian system works in the same way as education, there would be no state provision. It would be the ability of the person to pay that would dictate the level of healthcare a person would receive.

A libertarian system says that a fit healthy twenty year old has to compete in the market with a 60 year old but without the libertarians magically making everyone equally healthy they are likely to be in an unequal position. In the same way without the libertarians making everyone equal in wealth, a sixty year old with money is unequal in opportunity (in living a happy and healthy life) with someone who is sixty and poor.

The two measures that would most likely come first are in any libertarian government are deregulation and an end to income and corporation taxes which would instantly result in make even more rich and powerful the people who are already rich and powerful.

**

The comments on socialism I believe would be better tackled in its own thread which i'll try and start later.

**

 

No, the Yuan already has a Euro exchange rate. The Yuan will only "regain its value" if China revalues it at a higher Euro exchange rate than it currently trades at, or if the Euro continues to appreciate (although the odds of a 100% Euro peg are approximately 0% anyway). So far this year the dollar is appreciating against the Euro, so the the effect would have been a further decline in the Yuan.

If in doubt, just deny everything, right? That way you don't have to respond to any of my points. When did I claim I was "automatically right"? How are the facts irrelevant? In which sense are they biased? What numbers do you want referenced? Who knows! Its obvious you are careful not to ask a question which can be answered, because you don't want answers, you just want to casually dismiss all information which contradicts you facile theories.

Your article didn't reference anything it said, and it includes statistics a lot more contentious than my easily verified GDP growth figures. Yet you swallowed it whole, proclaimed it "superb", and said it "speaks the truth" and "it isn't scaremongering and it isn't hype". Based on what? Is this another one of your "definitely legitimate" stories again? In fact the only references he made are to an unspecified Bears and Sterns report (Bear Stearns?) and to www.numbersusa.com, which has a great story on the front page on how the REAL ID Act was a "huge victory for national security and immigration reduction". Wait - I thought only sheeple thought that. Another Rat mystery.