The world’s economy is no where near as dire as ours and the other western nations and our recovery from the depression will undoubtedly take much longer than that of the rest of the world’s. There are several reasons that this is true.

One is that we squandered much more of our “net worth” (if I may use such a term sanely) on bad investments and continue to do so. Our banking system is still in a free fall and we still have to weather the commercial market meltdown and credit card/auto loan defaults along with further weakening of the housing market due to job losses and entire foreclosed neighborhoods dilapidating into further decline. I personally think we are about 20% into the economic meltdown and our recover may be twenty years away.

Another problem causing our meltdown to be more dire is the fact that we have shipped all of our meaningful jobs overseas along with the related technologies. We have been living in what I termed years ago as a “self consuming economy” where an overwhelming percentage of our productivity was for entertainment, self satisfaction, and generally producing very little of true economic substance to actually market to the world’s consumers. We have been dissolving our economy from within for self gratification mostly living of our parents’ and grandparents’ wealth.

We have also been enjoying wages and benefits that were propped up by crooked politicians and Wall street big whigs, ignorance of economics, and a true lack of understanding of the new world economy that we have been thrust into. We ignored sound business practices acted in the heat of the moment instead of developing thoughtful policy to guide our country’s future and continue to do so with this pork barrel spending package and these useless Wall street bailouts. We still fail to see the mandatory necessity to put our wages in line with the world and begin to poise ourselves to become truly competitive with China, India, and other nations with cheap labor and hope they begin to burden themselves with costly environmental policies as we do so we don’t have to dump ours to survive. We need to focus on our competitive advantages and products such as mechanization to allow us to lower the overall labor costs of any product or we are dead.

We must shed our business environment with the weight of costly retirement plans and health plans so as to put America back in business in the world economy. This includes ridding our government workers of their cushy little security blankets and downsizing it as well. Sure, families might have to move in together where several generations live together and the old are cared for by the younger and doctor visits become a luxury, but don’t kid yourselves folks, this is going to happen anyway. The fairy tale is over. The minimum wage is obsolete, tenured college jobs are impractical, social security is a joke, Medical and Medicare are going to go the way of the Dodo bird my friends. Old folks homes are a white elephant surely to go the way of Mervyns. Cry all you want, complain away and rally the troops in your union and all you will do is drastically lengthen the depression by continuing to fail to recognize that we must integrate into the world economy and adjust to an unimaginable new standard of living.

We need to stop treating illegals at our hospitals and immediately stop giving anchor babies citizenship and need to either empty our prisons of illegal aliens or seize assets from the countries of origin for them to pay for their cost. We need to close our borders to hoard American jobs as I see an unemployment rate of 60% very possible and those low paying jobs will become very desirable. We need to stop almost all welfare. It is going to happen anyway. The handicapped need family help and single mothers need a job and to co-house with each other for that end. We will have to abolish the joke of a disability system we have today and only those confined to a wheel chair might be affordable (if that).

The worlds’ economy is not nearly as bad. I think we will see China and India (who have a forth of the worlds’ population) becoming major trading partners as their factors of production are in line with competitive parameters and I see their economies reviving in a few years but ours will not be included in the upturn. We will still not have reached the point of being competitive, shedding our old lifestyle, and breaking the labor unions that Obama and the Dems are strengthening right now. We may miss two or three economic cycles before we are humbled into accepting our new found economic status. Time to turn in the Beemers libs!