As Bloomberg puts it, countires are weening themselves off the American teat and doing quite nicely…
Demand in the world’s largest economy is slowing as the U.S. housing market falters, a development that the International Monetary Fund on Sept. 14 called a key risk to global expansion. If so, it’s a risk that the biggest exporting nations are better prepared to weather now than five years ago.
“Domestic demand in so many other parts of the world is picking up,” says Jim O’Neill, head of global economic research at Goldman Sachs Group Inc. in London. “If there ever was a good time for the U.S. to slow, this is it.”
The share of global exports purchased by U.S. consumers and businesses fell to 17.9 percent in 2005 from 21.8 percent in 2000 as demand increased in the European Union, Japan and emerging markets in Asia and Eastern Europe. Exporting nations in Europe and Asia are poised to grab a larger share of world markets with trade agreements that don’t include the U.S.
If we keep ignorning education, if we keep devaluing the middle class in favor of enriching the wealthiest 1%, we’re going to eventually fail. Maybe not today, and maybe not 10 years from now, but sooner rather than later.
Protectionism obviously isn’t the answer, but neither is letting the free market run wild. And we MUST start paying our teachers better and revamping our education system. The most important investment we can make right now is in our children because they’re going to be running things in 40 years.
What are your thoughts? How do we fix this?