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Surprise! Welcome to the Third World, Des Moines!

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opednews.com Headlined to H3 9/27/09

Author 18467
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I've been working on an essay for several months -- ruminating mostly; rolling things round in my head looking for supporting or counter-arguments. The gist of the piece is that the United States is becoming or - more nefariously - is being turned into a Third World economy.

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From personal observation, I've seen my friends and family, by necessity, change from manufacturing jobs or occupations as skilled workers to service jobs, losing pay, perks, union representation, and a sense that the situation will improve with time. Associating those numerous anecdotes, with the dismantling of social services and the disintegration of infrastructure, I wondered what other element would further the affect the USA's slide from First World to Third World economy in this depressing scenario.

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(n.b. Scenario construction like this is one, is a technique I employ to control my natural ebullience.)

Since the time last March when this dismal thought first occurred to me, the US economy has imploded; the huge no-strings-attached bail-out funds of TARP have mostly been distributed and dispersed to some of the largest corporations on the planet. Unemployment has risen unofficially to nearly 20% and officially in double digits. Home foreclosures and bankruptcies are pandemic. The missing element that would precipitate the change in the US from a First to a Third World economy became evident; massive debt to foreign creditors. Being heavily indebted to foreign entities is an economic characteristic of all of the poverty-stricken nations of the Third World.

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http://lexisnexussolarplexus.blogspot.com/
After years of professional starvation as a 'working musician', DC found his way to Taiwan where he has lived and taught English as a foreign language for 18 years - fourteen of them married blissfully to Yashan 'Linda' Huang. "Having lived (more...)
 

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