Economy in Crisis

      From 1790 to 1970, American industrialization fueled by its classical free market economy was the envy of the world.   By 1871, the U.S. became the world’s largest economy through hard work and technical innovations.   In the 20th century, the U.S. was producing 10 times the number of patents of all countries combined every year.   America was creating 25% of the world’s total economic output with less than 5% of the world’s population.   And America’s farmers were feeding one-third of the world.
      In 1965, everything started to change.   The U.S. fully adopted Keynesian economic principles with the government giving the Federal Reserve enormous power and control over the economy.   Keynesian principles are guided by a lender/consumer debt-driven philosophy.   The Fed’s absolute authority changed America’s free-market economy into a highly regulated government-controlled form of Capitalism known as Social Capitalism.   This anti-American style of Capitalism resulted in numerous significant changes to the U.S. economy that only benefited politicians and their wealthy donors, making us subjugate to them, or in Socialist terms, the Working Class.
      Since 1970, the middle-class population has decreased from 61% to 49%, and their overall wealth has been cut in half.   During this timeframe, corporate executive compensation grew by 1,000%, and American workers’ pay increased by a meager 15% after inflation.   Currently, the average salary of America’s 3 million corporate executives is $22 million per year while the pay of American workers has stagnated over the last 50 years.   The lower half of America’s workforce, 67 million people, averages about $40,000 per year, with a median household income of $74,580.

Lost Jobs

It appears from their actions that politicians and corporate executives despise the American worker as demonstrated by stagnant wages creating income inequality, corporate raiders looting workers’ private pension funds, businesses continually sending American jobs overseas, and illegal immigrants taking jobs at home.   Corporations gave up millions of American jobs overseas to other countries while politicians allow tens of millions of foreigners to enter the U.S. illegally further, adding to income instability and suppressed wages.
      Since its inception in 1970, the EPA has shut down industry after industry resulting in the loss of millions of American jobs and causing countless thousands of bankruptcies.   Now the global warming hoax is destroying our economy, costing millions of jobs and trillions of dollars in lost revenue.
      Corporations tired of unions successfully negotiating workers’ demands for better wages and benefits in the 1970s waged war against the American worker with politicians happily appeasing their corporate cronies.   Throughout the 1980s, corporations raided workers’ pension funds, stealing back the gains unions made.   When the Federal Trade Commission was asked why they did not put an end to corporate raiding a Commissioner responded that it was a “necessary evil to eliminate poorly run companies.”
      In the 1990s, corporations started moving jobs overseas.   In 1993, President Clinton signed the North American Free Trade Agreement (NAFTA) into law.   NAFTA not only undermined wages and workplace safety in the U.S., but America lost 415,000 high-paying auto manufacturing jobs to Mexico and 290,000 high-paying aircraft manufacturing jobs to Canada.   The U.S. government and corporations willingly giving away American jobs to other countries seems like retribution against the American worker.
      If the 20th century wasn’t bad enough, the 21st century has both politicians and corporations doing everything they can to undermine the American worker.   Corporations continue to abandon U.S. workers by exporting millions of jobs overseas.   Many of these U.S. corporations employ up to a million workers overseas, with less than 50,000 in America.
      Currently, there are more than 30 million undocumented aliens in the U.S. That number is 10% of America’s total population.   Congress recently reported illegal migrants cost taxpayers $451 billion in 2022 and they expect that amount to significantly increase each year.   Besides your tax dollars paying for their food, housing, and medical care, they are here to take your job at half the pay.   It works very well for businesses when your tax dollars subsidize the care and welfare of their illegal employees.
      Corporations also want to replace America’s highly skilled technical workers.   They have been lobbying for unilateral control over foreign work visas and it was written into President Biden’s Build Back Better Act.   It gave corporations the power to issue 10-year work visas without any government oversight.   While politicians continue to curry favor with the wealthy at the expense of American workers, our economy is dying from their poor political decisions.
      If we want to fix our failing economy, end income inequality, and pay off the federal debt, we must reign in Keynesian policies, change our current tax structure, and return to a free-market economy by eliminating government overregulation.
Read about America’s Debt and Taxes.
Return to America is Broken.