Russell
Earl Kelly, PHD, February 11, 2014
The
following article is based on figures from the web site below from January 2013 and
the total debt is much larger now.
It was
alarming to discover how many nations we owe money to thrive because they
provide secure havens for wealthy U.S. investors. Among this list are Switzerland,
Luxembourg, Belgium and Hong Kong. Changes must be made to encourage wealthy
Americans to invest more in their own country.
My
burden for writing this article is the loss of manufacturing jobs in the U.S. For
many years I have been disturbed to see the shelves of our stores full of products
“Made in China” instead of “Made in the U.S.A.” In my opinion (except for food,
cleaning products and paper) 95% or more at Wal-Mart, Target, Family Dollar and
even Ace Hardware comes from outside the U.S. – and that means lost jobs.
When
one country loans another country a lot of money, the borrowing country is at
the mercy of the loaning country. Demands are made. In exchange for the “favor”
(the huge loan), China demands that the U.S.A. purchase more and more products
and this means less and less jobs here for Americans.
It is
probably already too late to quickly remedy the situation. When our national
debt rises and we borrow more money from foreigners, our job market shrinks. What
happens when China has saturated our markets and it is no longer practical to merely
ask us to buy more products? I think we have already reached that saturation
point.
What
happens after the saturation point has been reached for typical sales products?
We are compelled to sell high-tech products, our industries, our motel/hotel
chains, our food chains, and even our motion picture companies. We have even sold
our land itself so other nations can grow and export their own food (i.e. Japanese
cowboys in Wyoming).
Somebody
please tell us who already owns our largest corporations, hotel chains,
motion-picture companies, and restaurant chains. The American public will be
shocked. And why is this aspect not being discussed on news
programs?
U.S. PUBLIC DEBT AS OF JANUARY 2013
1. $4.14 trillion ($4,140,000,000.000.00) was owed by the
U.S. Government to U. S. investors in January 2013. At the end of 2012 our debt
was 73% of our Gross Domestic Product and 47% of our debt was foreign owned.
insurance companies: $263.8 billion banks/credit unions: $337.4; billion state/local
governments and their pension funds: $682.5 billion;
private pension funds: $615.6 billion;
mutual funds: $889.1 billion;
U.S. savings bonds: $183.8 billion; plus
2. CHINA -- $1.26 trillion
($1,200.000,000,000.00); China’s economy is fueled partly by the return on
their U.S. investment. When we buy Chinese products we are taking jobs away
from American citizens and giving them to Chinese citizens.
3. JAPAN -- $1.12 trillion ($1,120,000,000,000.00)
When we buy Japanese cars we are taking jobs away from
American citizens and giving them to Japanese citizens. How many U.S.-made cars
are sold to Japan?
4.
BRAZIL $253.4 billion (and oil-producing nations such as Algeria,
Bahrain, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria,
Oman, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. Chinese
firms have built huge factories, farms and manufacturing plants on Brazilian
soil. And, yes, we buy oil from those who publicly threaten to destroy us.
5. SWITZERLAND -- $192.7 billion
6. TAIWAN -- $196.6 billion
7.
RUSSIA – Russia; $162.9 billion. Russia is the world's largest oil
producer.
8. LUXEMBOUIRG -- $144.7 billions
9. BELGIUM – $143.5 billion
10. HONG KONG -- $142.9 billion
I urge ABC, CBS, FOX, NBC, and TBN to research and reveal
the information which really explains where our jobs have gone.
Russell Earl Kelly, PHD
316 Aonia Rd
Washington, Ga 30673
706-401-1276
russkellyphd@yahoo.com
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