Made in America: The success of China, Hong Kong, Japan and Korea
Since the 1940's the Asian manufacturing block has built its economies upon the backs of hard working Americans, aided mostly by American corporations seeking out their sustenance hungry work forces which were willing to work for just pennies a day. Now, it's coming back to bite them in the rumps. Cry me a river, won't ya?
But there's a silver lining to this cloud of contraction, and it plays into our American boiler plate strengths. We've been in a maintenance mode for nearly a decade now. Yes, our standard of living has declined slightly overall, but we're still in pretty good shape. We can weather a recession for a much longer time frame than those countries which are trying to maintain growth patterns based upon the paychecks of American consumers. The cash cow has been milked.
I saw this coming at least 20 years ago and It's going to get far worse before it gets any better. My advice to you my friends is to keep playing it very tight with your paychecks. Remind the world just exactly who has been paying the bills. Show them the American workforce still holds most of the cards.
If the world wants our continued support for their economies, it's about time they start to give something back. In the meantime, my disposable income is going into American banks, except for those few expenditures which might raise my good old American income and an occasional gift of which my wife earnestly deserves.
Give my regards to Chairman Mao.