I agree with the China statement totally!
Also about the dying middle class…. well, the grass is already growing over the grave.
NAFTA and Preferred Trade with China was little more than a way for the eye on top of the pyramid (look at your dollar bill) to see beyond our shores and find someone to exploit that is in a far worse state than we.
NAFTA and Preferred Trade with China were touted to equalize the trade field and put everyone on an even playing field. Well, it is working, just not how we were led to believe. We were told that these tactics would lift our global neighbors to a state where they would be able to afford to trade with us on an equitable level. What has actually happened though is a different story. Instead of lifting of our neighbors, we have seen ourselves being lowered into their poorer status.
That last statement sounds a bit drastic, but I ask this: What would happen in the U.S., Canada, and Texas, if all our debts were called in? All that we were able to keep was that which we absolutely owned. How many of us would have to hit the streets? How many would not only lose their home, but their car and many of their furnishings, clothes and whatever else was purchased through credit? I think we would be astonished if we realized just how many cars would have to be parked if gasoline couldn’t be financed via a credit card.
We (my family) have begun to adopt a new style of living. We are no longer looking at tags telling us where something was made, but instead are looking at quality and durability. We try to purchase quality used over shiny new, and it is paying off for us. If we are going to spend our money, then it needs to be spent wisely. Consumer products need not be something that is consumable, but rather, durable. I will happily pay $50.00 for a toaster that will last my lifetime; rather than having to get a new $20 one that will need replaced every other year.
We are also learning that we really don’t need to have all the stuff that the marketing world dictates we need, and the single biggest step we have taken has been to turn the TV off. We genuinely don’t need some corporate carpetbagger telling us what we need in order to be happy. We’ve learned that function is much more important than fashion.
I’ll stop now…. man can I ever get overheated…