The following are 21 signs that the once great U.S. economy is being gutted, neutered, defanged, declawed and deindustrialized….
#1 The U.S. trade deficit with the rest of the world rose to 497.8 billion dollars in 2010. That represented a 32.8% increase from 2009.
#2 The U.S. trade deficit with China rose to an all-time record of 273.1 billion dollars in 2010. This is the largest trade deficit that one nation has had with another nation in the history of the world.
#3 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.
#4 In the years since 1975, the United States had run a total trade deficit of 7.5 trillion dollars with the rest of the world.
#5 The United States spends more than 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.
#6 In 1959, manufacturing represented 28 percent of all U.S. economic output. In 2008, it represented only 11.5 percent and it continues to fall.
#7 The number of net jobs gained by the U.S. economy during this past decade was smaller than during any other decade since World War 2.
#8 The Bureau of Labor Statistics originally predicted that the U.S. economy would create approximately 22 million jobs during the decade of the 2000s, but it turns out that the U.S. economy only produced about 7 million jobs during that time period.
#9 Japan now manufactures about 5 million more automobiles than the United States does.
#10 China has now become the world’s largest exporter of high technology products.
#11 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.
#12 The United States now has 10 percent fewer “middle class jobs” than it did just ten years ago.
#13 According to Tax Notes, between 1999 and 2008 employment at the foreign affiliates of U.S. parent companies increased an astounding 30 percent to 10.1 million. During that exact same time period, U.S. employment at American multinational corporations declined 8 percent to 21.1 million.
#14 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.
#15 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China’s share had soared to 20 percent.
#16 The number of Americans that have become so discouraged that they have given up searching for work completely now stands at an all-time high.
#17 Half of all American workers now earn $505 or less per week.
#18 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
#19 Since 2001, over 42,000 U.S. factories have closed down for good.
#20 In 2008, 1.2 billion cellphones were sold worldwide. So how many of them were manufactured inside the United States? Zero.
#21 Ten years ago, the “employment rate” in the United States was about 64%. Since then it has been constantly declining and now the “employment rate” in the United States is only about 58%. So where did all of those jobs go?
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