Monday, March 24, 2008

Economy In Crisis

A very fine gentleman I know runs his own economic website in the hope of creating an awareness of our fragile economic condition. He has spent much of his retired life meeting and discussing the issues with many of our Gvt leaders and is always open to new suggestions/solutions to our problems.

Take some time to poke around his site. There you will find many eye-opening statistics such as the ones below.

Foreign ownership percentages of Selected US Industries:
  • Sound recording industries 97%
  • Commodity contracts dealing and brokerage 79%
  • Motion picture and sound recording industries 75%
  • Metal ore mining 65%
  • Motion picture and video industries 64%
  • Wineries and distilleries 64%
  • Database, directory, and other publishers 63%
  • Book publishers 63%
  • Cement, concrete, lime, and gypsum product 62%
  • Engine, turbine and power transmission equipment 57%
  • Rubber product 53%
  • Nonmetallic mineral product manufacturing 53%
  • Plastics and rubber products manufacturing 52%

Article below also from his site Economy In Crisis

America in is a major state of decline. Few realize its causes & the source of our problems. This email alert will highlight one main reason for our inability to be able to compete, our inability to support ourselves, and for our rapidly declining living standard -- N.A.F.T.A.

The Truth About Nafta And Its Disastrous Effects

Few are aware that NAFTA (North American Free Trade Agreement) has rendered us uncompetitive in the world, has destroyed our industrial base, caused us to outsource most of our production, and killed most of our good manufacturing jobs.

For political reasons, Clinton, Obama, and McCain have not discussed this true picture.

Imagine if Congress enacted a special law only for the state of Michigan that:

  • Dropped the minimum wage to $.50/Hour
  • Exempted employers from child labor laws
  • Expanded the work week
  • Reduced health and work place safety laws
  • Banned unions
  • Allowed Michigan exporters full, duty-free access to Ohio and the rest of the states

Sounds crazy, huh?

This is what NAFTA did for the benefit of Mexico, to the detriment of America.Why would any company manufacture in the U.S. now when it can produce next-door in Mexico with all these unfair advantages?Mexico now ships more cars to us than we ship to the rest of the world--and where did Mexico get an auto industry?

We are now increasingly forced to live on imports and debt at every level while thousands of our best companies are being sold to foreign interests and our industrial infrastructure is collapsing. If you are concerned for a future for your kids, you should demand that we do something about these conditions. Look at EconomyinCrisis for all the statistics to confirm the damages that are now being inflicted on our economy.

Foreign Acquisitionsof U.S. Businesses
Foreign Financed U.S. Debt
U.S. Consumption of Foreign Goods
Foreign OwnedU.S. Industries

Send this to your congressional leaders and as letters to the Editor at EconomyinCrisis

5 comments: said...

Nice post. Care to exchange blogroll links? I'm the editor of the financial blog, "The Most Hated Blog On Wall Street." Stop on by sometime-


Christopher E. Hill

Randy said...


I just added your link to my sidebar under "Other Links", but pls forgive me for my ignorance, I don't know how to add or exchange Blogroll...


Randy said...

Disregard Christopher -- I got it all figured out and you're added. Amazing what one can learn with a search engine...



Anonymous said...

NAFTA has served the U.S. well in taking over Canadian companies and allowing access to Canadian resources for example oil and gas.You have benefited and continue to do so. said...

Thanks for the link Randy. You're all set up too!

Keep up the great writing...