Everyone, by now, knows our government is largely financed by foreign countries and corporations because we import more products than we sell to foreign countries.
The American workers already know this by the loss of millions of high paying manufacturing jobs, hi tech jobs, and computer programming jobs that are being sent to foreign countries. The importation of Aliens to replace American workers under Document H-1B and L-1 visas.
Now how does this affect our standard of living? We borrow to maintain it.
Americans cumulatively spend $3 billion a day on interest payments?
Americans have borrowed $834 billion from their mortgages last year alone?
The majority of Americans have a net minus in their savings accounts.
The USA has the largest Trade Deficit in the world, which is over $2 Trillion Dollars.
The USA has the largest national debt in it's history, a whopping $8,398,665,868,086.72.
Now what will happen if we continue on this path? There are historical records to show it happened in the past to Germany.
The bankrupt American government will soon reach a point when foreign countries that loan the USA money because of the Foreign Trade debt will demand higher interest rates on the money.
This will depress the U. S. economy very rapidly and likely lead to a recession or a depression. The US dollar will weaken relative to foreign currencies. We have already decreased the value of the US Dollar by 23% 4 years ago. When this happens, all foreign made products you buy will cost more.
We have already closed most of our factories and no longer produce many house hold items such as clothes, shoes, electronics, machinery and very soon automobiles.
When the retailer and service business feels the high cost of the devalued dollar they will lay off personnel and further depressing the economy. Making it a fast track to a 3rd World Economy for most USA workers.
The largest lenders to America are Communist China and Japan.
China now is experiencing a boom and Chinese worker's wages will go up and that means the cost of the foreign products you buy will go up. This will in turn force more downward pressure on the economy.
Real Estate sales and home values will tumble. Home foreclosures and personal bankruptcies will rapidly climb.
Banks will began to become insolvent due to bad loans and then inflation and maybe even hyper-inflation (where it takes a bushel of money to buy a loaf of bread) will be ingrained in the economy.
Hyperinflation was the situation in post-World War I Germany that created the social conditions exploited by Hitler and Creation of his FASCIST STATE.
There is a very good possibility America could be the next Fascist State.
We already have the Patriot Act (Gestapo Manifesto). Spying on American citizens with out due process of law and arresting people without warrants.