The United States is Committing Economic Suicide

The United States is Committing Economic Suicide

Editor's Note: The following article was contributed by Gerald Spencer and may not reflect the views or opinions of EconomyInCrisis.org. Feedback is welcome.

When and if foreign individuals and governments stop buying our freshly printed U.S. paper T-Bills, U.S. paper bonds, and other paper U.S. securities at slightly less than face value, and/or start buying these items at the foreign currency exchange equivalent of a few pennies on the dollar, the government checks, social security checks, government payroll checks, and private paychecks will then not buy very much food or anything else that we consume. Your life savings might only sustain you for a couple of weeks.

After we have sold the title to all of our U.S. assets to foreign entities as required to settle our foreign trade obligations, there will not be anything left for the foreign entities to buy and then U.S. government will not be able to raise any funds for any re-industrialization and the U.S. citizens will not have any possibility of employment in their future. The money that was passed out to the financial industries did nothing to create any jobs or eliminate the foreign trade problems with the U.S. economy.

Foreign entities will very soon own everything of value in the U.S. and they will become the major (or only) source of employment for U.S. citizens. The American population will then become employees; possibly indentured servants; or maybe even beg to become slaves owned by the foreign countries and/or foreign individuals that will own everything of value in the U.S. in the very near future.

We are selling off our childrens legacy to foreign owners, and the U.S. government calls it "Investing in America." We are racing to print money and then sell title to everything in the U.S. in order to keep from working.

What will be the buying power of the dollar when there are no remaining assets that the foreigners want to exchange for the dollars they earned by manufacturing the things that American citizens imported and consumed? The U.S. will very soon run out of titles to assets that foreign manufacturers will want to purchase with the freshly printed U.S. government currencies and securities that they earned.

The U.S. needs to direct the funds derived from the sale of the few remaining assets toward investing in activities such as technical education that will get the Gold and U.S. dollars from these foreign countries back into the U.S. via re-industrialization. Wall Street and Banking Business bailouts will not accomplish this. (Will the Chinese buy title to Dogpatch? I think that the U.S. government declared Dogpatch to be the most worthless property in America!)

Other countries view the U.S. as printing and spending huge amounts of paper money with the careless abandon of a drunken sailor on shore leave.

This is very disturbing to those very same foreigners that the U.S. government hopes will buy some more of our freshly printed U.S. securities (hopefully at not too much of a discount) to pay for our economic stimulation, trade deficit, and other various government expenses.

The discounts offered at public bid for our freshly printed U.S. securities by manufacturing nations that have acquired U.S. dollars will depend and reflect upon the confidence that the U.S. instills in these foreigners by our economic actions.

Many countries are losing confidence in the dollar as the benchmark for world trade and currency values. Other currencies, like the Chinese Yuan with a more stable value, are now being talked about as a replacement for the dollar as the benchmark for international currency values.

It is certainly a matter of concern for the american's that depleting there currency value by selling there assests to the foriegners, will only lead to an end of an american era and that would prompt other countries to look at other avenues and explore other options, Which would be more stable compared to american dollar.

There is an other way of looking at it, Selling the assests to foreigners will create funds which could be used to stimulate the economy, that would create more jobs and more opportunity.Which eventually would lead to globalization and bring it's lost assets.