pcr provides herein a short lesson on why and how the empire is collapsing;

The US Faces Ignored Challenges

Paul Craig Roberts

For the longest time, Bureau of Economic Analysis jobs reports show that industrial and manufacturing jobs–jobs that have high value added and produce good incomes–are declining in the United States. For some time US corporate profits have been based on sending Americans’ jobs to Asia where labor  costs are lower.  The stock market boom was a product of low interest rates, which meant Federal Reserve liquidity, and reduced labor costs from offshoring.  It was not a sign of a vibrant US economy.

Today and for a couple of decades the US exists as a market for foreign made or offshored goods of US corporations.  Americans have been separated from the income associated with the production of the products that they consume.  This is the avenue to Third World Existence.

US corporations, always short-term in their outlook because of quarterly performance bonuses, have destroyed America’s economic future. 

For years I reported the payroll jobs reports, pointing out that there were never any jobs gains of noticeable magnitude in industrial and manufacturing jobs where wages are good.  Year after year US job gains, if they were real, occurred in retail sales, social assistance, waitresses and bar tenders, and government where high value added is not present.

The neoliberal economists, termed correctly “junk economists” by Michael Hudson, could not be bothered to notice the ongoing destruction of the US economy.  Instead the bought-and-paid-for-economists promised that there would be higher paying jobs for US workers who lost their livelihood by the movement of their manufacturing jobs–called “dirty fingernail jobs by neoliberal economists–to Asia......more........