our economy was great, because it was based on an abundance of good paying manufacturing jobs. with the implementation of the global free trade agreements, those jobs were unceremoniously exported to the third world, where the wages are a tiny fraction of here. corp. profits explode, while american real wages have stagnated, or fallen. it took a while, but we reached the tipping point,where incomes didn't meet rising prices, and the defaults began. we cannot have the economy that we had before as a service economy. the ones who produce the goods are the ones with the power. after ww2, we had most of the global factories, every one else was bombed into oblivion. so the 50's, and 60's were a magical time for us. but as manufacturing was being rebuilt in the rest of the world, we didn't care. so we weren't worried when the first agreements started, more markets for our products, right? but when we rolled over for china, that was the end, we just didn't realize it. so, until we repeal these unpatriotic laws, no president can do much. my father didn't graduate from high school, but found a job as a machinist, and made a very good living. his job is in china now. thankfully he didn't live to see it. can an individual make enough to raise a family now, without a diploma? don't bet on it. a degree isn't even a guarantee.

well said and I'm glad there are still people around who can think.

Read this article:

http://www.opednews.com/articles/De-Dollarization-Dismantl-by-Dr-Michael-Hudson-090615-96.html

it is soo soo tragic

atlantis, i read the article, and i'm not surprised, that it is happening, or that it is not national news. this is the beginning of a financial war, and unfortunately, i have the sinking feeling that we are not going to fare well if the entire globe is against us. how long will they wait before they come looking for their money with more than an outstretched hand? one can only hope to be dead before then, or to have quite a large supply of ammo. i already have the ammo. they say no man is an island, i wonder if that holds true for countries. what will our country be if they stop trading with us entirely? we don't make anything here( try looking, it is not easy)but food. and without oil, we wont have much of that. tractors have only gotten bigger since we had the farm, and they don't run on happy smiles. our country sits upon only an estimated 2-3% of the oil reserves on the planet, and how long will it last if our credit is gone? printing more bills is fiscal suicide. the american dream is not dead, but we need to start living in the real world, and living within our means, if it isn't too late already.