The impending USA Economic Collapse which nobody is talking about

[The Accountant]

you know what the world has come to when citizens of perennial begging bowl have to dole out economic advice to others



Whether you like it or not the West provides most of the innovations on which the world runs



Let us assume USA collapses similar to 2008. What is going to happen to China ? What is going to happen to Europe ? What is going to happen to oil prices ?? With exception of North Korea and Myanmar most countries will feel the impact.

the last time I checked 1/3 of Pakistan exports goes to USA and EU. Pakistan earns another 40% from oil-rich exporters in the Middle East. In another words Pakistani economy take a licking.

There is no disagreement there will be a huge financial crisis over the globe worst then we witnessed during great depression ...

From where you get the idea that we are celebrating this ? We are worried about this and asking why no one is talking about this as we should have a plan for the situation in case these risk materialze ...

I hope you are aware of the fact that in the financial world future is not predictable,, we identify risks only and categorize them as low risk, medium, high risks and very high risks ...

currently, there is a high risk of financial crisis in US and US being world biggest economy and driver of whole financial system the risk of it becoming a global phenomenon is for sure ...

Furthermore, on the begging side, I suggest you should do a reality check ... Right now the US is carrying the biggest begging bowl as the debt of the US are the largest in world ... I know that your economy is also huge but Debt to GDP ratio of US is 50% more than Pakistan so when we are worried about our debt you should worry about yours especially at the time when all economic institutes in the world have consensus that US will become 2nd and eventually third largest economy of the world and offcourse will loose power to dictate financial system of the world ...

 

[nahtanbob]

There is no disagreement there will be a huge financial crisis over the globe worst then we witnessed during great depression ...

From where you get the idea that we are celebrating this ? We are worried about this and asking why no one is talking about this as we should have a plan for the situation in case these risk materialze ...

I hope you are aware of the fact that in the financial world future is not predictable,, we identify risks only and categorize them as low risk, medium, high risks and very high risks ...

currently, there is a high risk of financial crisis in US and US being world biggest economy and driver of whole financial system the risk of it becoming a global phenomenon is for sure ...

Furthermore, on the begging side, I suggest you should do a reality check ... Right now the US is carrying the biggest begging bowl as the debt of the US are the largest in world ... I know that your economy is also huge but Debt to GDP ratio of US is 50% more than Pakistan so when we are worried about our debt you should worry about yours especially at the time when all economic institutes in the world have consensus that US will become 2nd and eventually third largest economy of the world and offcourse will loose power to dictate financial system of the world ...

USA is printing dollars. no one is begging foreigners to hold them. you can argue some of the smaller players have a gun to their heads.

i am glad you are worried. the truth is that if not for the dollar printing press and US economic order the world economy would have collapsed. the truth is that more countries have benefited from this than been hurt. that is why the economic order is holding up. pakistan has not benefited because of low literacy and your adventures in India/Afghanistan

I would not worry about USA's position in the world, It will be number one until 2050. Even after that it will be a powerful number 2 for rest of the century

 

[Clutch]

Here are some stats.
US Student Loan Debt : $2 Trillion
US Corporate debt : $9 Trillion
US National Debt : $22 trillion

US Director of National Intelligence Dan Coats called the growing debt a "dire threat to economic and national security".

The IMF had warned in April 2018 about growing US debt levels and said US needs to address solutions for its growing deficit. The IMF said that over the next 5 years USA is the only advanced economy where debt to GDP ratio is likely to increase.
That's not even the case for Italy and Greece, countries who have notoriously failed to pay their debt.

Does U.S. debt matter?

The Coming Collapse of the American Economic System

What will crash US economy?

US economy about to collapse... & dollar's going down with it

Steve Keen Says U.S. Heading for 2020 Recession

Russia, China, Japan, Turkey have made moves away from the dollar, including dumping their holdings of US debt and increasing their respective gold reserves.

China and Russia are planning to make oil trade in their respective currencies instead of dollar.

World Dumping US Debt & Hoarding Gold: De-dollarization Explained

12 Statistics That Prove The Imminent USA Economic Collapse & Exploding Debt Apocalypse

https://www.youtube.com/watch?v=8JkchW5gb88

Shocking video about the imminent economic collapse and debt crisis. In the entire history of the United States, consumers have never been in so much debt. And that would not be an economic collapse as long as the vast majority of USA were regularly making debt payments, but as you will see below delinquency levels are starting to rise to extremely alarming levels. In fact, some of the numbers that are coming in are even worse than we witnessed at any point during the last economic crisis. If things are this bad already, what are they going to look like once the economy really gets bad? Because even though it appears that we are heading into a new economic collapse, according to the Federal Reserve it has not officially begun yet. That means that much worse is yet to come. Just like last time, millions of Americans will likely lose their jobs, and without an income most of those that suddenly find themselves unemployed will not be able to pay their bills. The stage is set for the largest tsunami of consumer debt defaults that this country has ever seen, and that will cause an absolutely devastate economic collapse across America. If you think that I am exaggerating even a little bit, please read over the following list very carefully.

The following are 12 statistics that prove that the U.S. is facing a consumer debt apocalypse…

1) Total consumer debt in the United States just surpassed the 4 trillion dollar mark. That has never happened before in all of U.S. history.

2) When you throw in mortgages and all other kinds of individual debt, U.S. consumers are now 13.5 trillion dollars in debt.

3) A whopping 480 million credit cards are in circulation in this country. That number has shot up by nearly 13 percent since 2015.

4) U.S. consumers are carrying 870 billion dollars worth of balances on their credit cards right now.

5) 56 percent of Americans that currently have credit card balances have been carrying them for more than a year.

6) The number of “seriously delinquent”credit card accounts in the U.S. has shot up to 37 million.

7) Americans now owe a total of 1.3 trillion dollars on their auto loans.

8) At this moment, more than 7 million Americans are delinquent on their auto loan payments. The figure has already surpassed what we witnessed during the peak of the last economic collapse by about a million.

9) The total amount of student loan debt in the United States has reached the 1.5 trillion dollar mark. Over the last 10 years, that number has more than doubled.

10) Right now, more than 166 billion dollars in student loan debt is considered to be “seriously delinquent”.

11) Millennials are now more than a trillion dollars in debt. No generation of Americans has ever been deeper in debt at this stage in life.

12) One recent survey found that 78 percent of Americans “are living paycheck to paycheck”.

Suffocating debt levels are a big reason why that figure is so incredibly high. We haven’t seen anything like that since the last economic crisis. At this point, even mainstream economists are openly admitting what is coming. And when the next economic collapse strikes, things are going to get very, very rough for U.S. consumers. A consumer debt apocalypse is coming, and it is going to be incredibly painful.
COURTESY: Thanks for the script to Michael Snyder, author of The Economic Collapse Blog - http://www.theeconomiccollapseblog.com

How to prepare for the next global recession | The Economist

https://www.youtube.com/watch?v=rD7KNVzkLPw

PS: Even "The Economist", one of the most influential news media, the Rothschild mouth piece itself is talking about a recession.

Nobody is talking about it because it doesn't matter.

The American economy is based upon debt. As the global reserve currency they can print as much as they want.

The debt could be 20 Trillion or even 20000000 Trillion.... It doesn't matter.

 

[The Accountant]

It is important to understand the composition of national debt of a country and whether it is able to fulfill its debt obligations or not. Borrowing is just one of the many forms of debt in the books.

American economy is productive on the whole, and does not need IMF bailouts and/or loans from other countries to sustain itself from time to time, or do you think this is the case? Why not try to understand the composition of American national debt first? Treasury bonds, bro.

Now;

Is a high debt-to-gdp ratio a matter of concern? Not necessarily.

American debt-to-gdp ratio approached 120% mark in 1945 due to Great Depression followed by WW2, but US pulled through.

In contrast, Venezuela's debt-to-gdp ratio is only 23% but it is an utterly dysfunctional economy.

FYI: http://theconversation.com/why-the-...es-what-you-should-worry-about-instead-111805

So?

American debt to gdp ratio reached highest in 1945 when the whole world was burning and US was arms supplier to the allied ... At that time the Debt to GDP ratio of the whole world sky rocketed ... UK had 240% france was above 200% ... Japan, China and Germany were the worst hit but their actual financial data is not even available ... Post world war 2 for good 20 years US was the manufacturing hub for the whole world ... All the countries of the world had left with no infrastructure except for US ...

But right now situation is exactly opposite .. US competitors are all strong not dependant on US product and US economy is slowing down and is largely incompetitive except for one sector i.e. technology but that gap is also being reduced by countries such as China, South Korea, Europe and may be India in future ...

Long-term projections are not written in stone because they are based on the assumption that the existing laws governing taxes and spending will remained unchanged for indefinite period, but this dynamic is unlikely in practice.

Short-term projections are positive to large extent: https://www.thebalance.com/us-economic-outlook-3305669

Nothing is written on the wall but projections are the best prediction available for the future so any sane person drived by logic follows the prediction ... If you don't want to follow then its illogical but you are free to take illogical choice but I will go with logic

China is an export-driven economy to large extent and its exporters are likely to receive payments in USD from numerous foreign buyers. Therefore, USD-to-Yuan conversion rate is high in China accordingly, and Chinese banks have no choice but to maintain reserves of USD and/or invest in US Treasury bonds for profits? This dynamic makes it possible for China to keep the value of Yuan vis-a-vis USD low and its export base competitive subsequently.

Clear enough, bro?

Not reality ... There are a lot of other simpler methods of keeping the price low .. You can simply print more currency to keep the value of Yuan low or you can keep the interest rates low ... China is keeping the US bond as a hedge against any US miss adventure ... Isn't it weried that US is able to impose restriction on Russia (which is almost a no threat in comparison to China) and even Iran but despite of bullying US major allies such as Vitenam in south CHina sea and Japan no economic sanctions was placed on China ... US has a lot of allegation on intellectual property right issues and even threaten country like Germany to not to award 5G contract to Chinese company but never imposed any sanctions on China ... Is this behavior of US is out of decency? Bro this is a direct result of hedge of US bond ... The moment China feel undue pressure from US which they cannot handle from traditional method they will start dumping US bond ... To cut long story short bonds are the trump card of China's economic war ...

A strong USD is in the best interests of a number of countries including China for multiple reasons, in case you didn't realize.

Strong USD negatively impact American manufacturing base on the whole, and this factor alone is a strong motive for other export-driven economies to maintain the status quo. Americans are understandably frustrated with this dynamic and pushed IMF to declare Yuan as a global reserve currency in 2015 to make sure that its value will appreciate over time but Trump administration's trade war with China had the opposite effect instead. Now, Americans are like OOPS.

From where did you got this analysis ? Do you know US is litterally using dollar as a product ... FOr getting oil what they actually need to do ? They need to print dollar and thats it ... Who in the world will deny this opportunity ... You should read history of dollar... Dollar was nothing but a cheque issued by US central bank and it was supposed to be backed by gold and was encashable in gold ... When France started to encash Dollars against gold US defaulted on that and from that day US dollar had no backing ... WHen US dollar prices started falling they created OPEC and made it mandatory for sale of Oil in dollars meaning that anyone who has to buy oil has to get this piece of paper from US by providing some goods and thats how the current financial system is working to the advantage of just one country in the world ... What was common between Iraq, Libya and Iran? All three of them are willing to sale oil other than dollar and thats why 2 weak countries destoryed and Iran was slapped with sanctions so that no one dear to change this method ...

But now consider if China push the countries to purchase oil in barter then do the countries need to export goods to USA in return of just a piece of paper ?

With the decline of US economy US military power will also be declined to a challengeable level (currently US millitary is not challengeable) and we will see alot of nations start taking decision in their own benefit just like Pakistan and China agreed to transfer there trade in Yuan ...

Demand of USD is unlikely to go down anytime soon due to its sheer strength and being a profitable investment in US Treasury bonds and/or for currency exchange purposes as well.

This is your assumption without any basis ... I hope you understand that soon is relative ... Rewriting of history is counted in decades not years ... so it might take a couple of decades for things to really take shape

Even if numerous countries allow trading to occur in virtually any currency out there, how is this a sound economic policy? Would you want to buy stuff in Iranian rial keeping in view the course of its devaluation over time as a byproduct of American sanctions? It is wise to stick to global reserve currencies for trading activities which are a handful.

What global reserve currencies are we talking about? Primary global currency is USD and volume of others are too low except for regional trade ... Consider even 25% of USD trading gets converted into Yuan and with the size of trade deficit USA has they will be getting more dollars back at home and less outside the economy resulting in decline in demand for USD and eventually a collapse in USA financial system unless someone intervene and the transition happens in such a way that no global impact emerged however, this is unlikely to happen as US will never transfer it power as sole super power peacefully ...

And keep in mind that weakening USD will facilitate American manufacturing base actually. Rozi Roti is in the hands of Allah Almighty, janab.

Unless US turn into an utterly unproductive country (unlikely???), it will do well in the long-term in all fronts.


See above.

American manufacturing will become competitive how? Is the currency devaluation the only factor ? Manufacturing cost is much more than that ... Kindly share your basis of assumption that with devaluation of dollars US will become competitive ...

USA is printing dollars. no one is begging foreigners to hold them. you can argue some of the smaller players have a gun to their heads.

i am glad you are worried. the truth is that if not for the dollar printing press and US economic order the world economy would have collapsed. the truth is that more countries have benefited from this than been hurt. that is why the economic order is holding up. pakistan has not benefited because of low literacy and your adventures in India/Afghanistan

I would not worry about USA's position in the world, It will be number one until 2050. Even after that it will be a powerful number 2 for rest of the century

Lolz ... You must be kidding ... you dont know the basic fact that the debt of US Dollar being quoted here is exclusive of the debt US owned in the shape of US Dollar but I am glad that you do realize the fact that US Dollar circulating outside US is actually US debt to other people ...

Now consider all the dollars circulating in the world start coming back like in 50s and 60s then what will happen ...

 

[James David]

Oh my GOD here we are again with this COLLAPSE!!!

I'll be drinking while fanboys of the "COLLAPSE" argue!!

@gambit , @jhungary , @KAL-EL what are you drinkin?

 

[Hamartia Antidote]

American debt to gdp ratio reached highest in 1945 when the whole world was burning and US was arms supplier to the allied ... At that time the Debt to GDP ratio of the whole world sky rocketed ... UK had 240% france was above 200% ... Japan, China and Germany were the worst hit but their actual financial data is not even available ... Post world war 2 for good 20 years US was the manufacturing hub for the whole world ... All the countries of the world had left with no infrastructure except for US ...

But right now situation is exactly opposite .. US competitors are all strong not dependant on US product and US economy is slowing down and is largely incompetitive except for one sector i.e. technology but that gap is also being reduced by countries such as China, South Korea, Europe and may be India in future ...




Nothing is written on the wall but projections are the best prediction available for the future so any sane person drived by logic follows the prediction ... If you don't want to follow then its illogical but you are free to take illogical choice but I will go with logic


Not reality ... There are a lot of other simpler methods of keeping the price low .. You can simply print more currency to keep the value of Yuan low or you can keep the interest rates low ... China is keeping the US bond as a hedge against any US miss adventure ... Isn't it weried that US is able to impose restriction on Russia (which is almost a no threat in comparison to China) and even Iran but despite of bullying US major allies such as Vitenam in south CHina sea and Japan no economic sanctions was placed on China ... US has a lot of allegation on intellectual property right issues and even threaten country like Germany to not to award 5G contract to Chinese company but never imposed any sanctions on China ... Is this behavior of US is out of decency? Bro this is a direct result of hedge of US bond ... The moment China feel undue pressure from US which they cannot handle from traditional method they will start dumping US bond ... To cut long story short bonds are the trump card of China's economic war ...


From where did you got this analysis ? Do you know US is litterally using dollar as a product ... FOr getting oil what they actually need to do ? They need to print dollar and thats it ... Who in the world will deny this opportunity ... You should read history of dollar... Dollar was nothing but a cheque issued by US central bank and it was supposed to be backed by gold and was encashable in gold ... When France started to encash Dollars against gold US defaulted on that and from that day US dollar had no backing ... WHen US dollar prices started falling they created OPEC and made it mandatory for sale of Oil in dollars meaning that anyone who has to buy oil has to get this piece of paper from US by providing some goods and thats how the current financial system is working to the advantage of just one country in the world ... What was common between Iraq, Libya and Iran? All three of them are willing to sale oil other than dollar and thats why 2 weak countries destoryed and Iran was slapped with sanctions so that no one dear to change this method ...

But now consider if China push the countries to purchase oil in barter then do the countries need to export goods to USA in return of just a piece of paper ?

With the decline of US economy US military power will also be declined to a challengeable level (currently US millitary is not challengeable) and we will see alot of nations start taking decision in their own benefit just like Pakistan and China agreed to transfer there trade in Yuan ...


This is your assumption without any basis ... I hope you understand that soon is relative ... Rewriting of history is counted in decades not years ... so it might take a couple of decades for things to really take shape


What global reserve currencies are we talking about? Primary global currency is USD and volume of others are too low except for regional trade ... Consider even 25% of USD trading gets converted into Yuan and with the size of trade deficit USA has they will be getting more dollars back at home and less outside the economy resulting in decline in demand for USD and eventually a collapse in USA financial system unless someone intervene and the transition happens in such a way that no global impact emerged however, this is unlikely to happen as US will never transfer it power as sole super power peacefully ...


American manufacturing will become competitive how? Is the currency devaluation the only factor ? Manufacturing cost is much more than that ... Kindly share your basis of assumption that with devaluation of dollars US will become competitive ...




Lolz ... You must be kidding ... you dont know the basic fact that the debt of US Dollar being quoted here is exclusive of the debt US owned in the shape of US Dollar but I am glad that you do realize the fact that US Dollar circulating outside US is actually US debt to other people ...

Now consider all the dollars circulating in the world start coming back like in 50s and 60s then what will happen ...

You are clueless as to why Europe and the US are “slowing down”. Yes, the US was a big manufacturer after WW2 but at an EXTREME cost.

Heavy manufacturing destroys your country. It permanently pollutes soil, ground water, and poisons the air. It causes your people to have birth defects and cancer.

You have to weigh the benefits of say making leather shoes for some person in some corner of the world (other then yours) who is going to wear it for maybe 3 years against the permanent pollution to your own country it causes. Remember people have to live here for thousands of years and the cost of high manufacturing for the world is simply unsustainable.

By 1970 we had had enough. Environmental laws kicked in and we started offshoring. Nixon and Mao had a meeting around 1971 and we started giving China all of our problems. The Europeans realized the same thing and started doing it themselves. As a bonus they could make stuff far cheaper.

Now China (after thousands of years of being a pristine country) is a complete environmental disaster (after maybe 25 years of heavy manufacturing) and nobody is surprised. How long will they keep it up...probably long enough to put every one of its citizens in a nice apartment..and then they simply start making enough for their own citizens and stop serving the outside world.


https://www.abc.net.au/news/2016-03-24/chinas-cancer-rates-exploding-study-says/7272266
China's cancer rates exploding, more than 4 million people diagnosed in 2015, study says

In China, cancer rates are exploding and for the first time the extent has been revealed.

In some of the industrial provinces, lung cancer rates have increased a staggering four-fold, but authorities seem reluctant to acknowledge — let alone deal with — the epidemic

The Cancer Institute and Hospital in central Beijing is struggling to cope with ever-increasing caseloads....


https://www.telegraph.co.uk/news/wo...oaring-birth-defects-linked-to-pollution.html
China's soaring birth defects linked to pollution
China's horrific pollution has been firmly linked to a staggering increase in birth defects according to a major scientific survey.


Headlines like the above were the same stuff we were reading in the US in the 1960’s.

Here are the most heavily polluted sites we have been trying to cleanup for the last 40 years..mostly due to pollution from heavy manufacturing.
https://en.m.wikipedia.org/wiki/List_of_Superfund_sites

This is a list of Superfund sites in the United States, designated under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) of 1980. Superfund sites are polluted locations requiring a long-term response to clean up hazardous material contaminations. CERCLA authorized the United States Environmental Protection Agency (EPA) to create a list of such locations, which are placed on the National Priorities List (NPL).

 

[The Accountant]

You are clueless as to why Europe and the US are “slowing down”. Yes, the US was a big manufacturer after WW2 but at an EXTREME cost.

Heavy manufacturing destroys your country. It permanently pollutes soil, ground water, and poisons the air. It causes your people to have birth defects and cancer.

You have to weigh the benefits of say making leather shoes for some person in some corner of the world (other then yours) who is going to wear it for maybe 3 years against the permanent pollution to your own country it causes. Remember people have to live here for thousands of years and the cost of high manufacturing for the world is simply unsustainable.

By 1970 we had had enough. Environmental laws kicked in and we started offshoring. Nixon and Mao has a meeting around 1971 and we started giving China all of our problems. The Europeans realized the same thing and started doing it themselves. As a bonus they could make stuff far cheaper.

Now China is a complete environmental disaster (after maybe 25 years of manufacturing) and nobody is surprised. How long will they keep it up...probably long enough to put every one of its citizens in a nice apartment..and then they simply start make enough for their own citizens and stop serving the outside world.

You must be joking ... You are saying textile manufacturing costs environment more than Coal Power Plant? If this is about the environment then why do you guys so worried about trade deficit with China?

Whatever the reasons of shifting the manufacturing you believe the reality is in number and numbers speaks that US is losing its decisive edge on economic front ...

 

[mastaan]

You must be joking ... You are saying textile manufacturing costs environment more than Coal Power Plant? If this is about the environment then why do you guys so worried about trade deficit with China?

Whatever the reasons of shifting the manufacturing you believe the reality is in number and numbers speaks that US is losing its decisive edge on economic front ...

Agree with the first part. Do not agree that US is losing its decisive advantage. Would like to understand your perspective on why you say that.

 

[The Accountant]

Agree with the first part. Do not agree that US is losing its decisive advantage. Would like to understand your perspective on why you say that.

Simple reasons:

1. consistent trade deficit
2. mounting debt without any foreseeable chances of reduction in tax to GDP ratio
3. The projected decline from the spot of world no.1 economy to world 3rd economy within few decades
4. The decline in the economy means lesser Defense expense
5. Lesser defense expense inability to secure economic interest from the outside world
6. Ultimately leading to the threat of no more capable of standing as world financial hub and resultantly all the dollars circulating in the world start coming back to US which will further put a strain over financial position of USA ...

 

[Hamartia Antidote]

You must be joking ... You are saying textile manufacturing costs environment more than Coal Power Plant? If this is about the environment then why do you guys so worried about trade deficit with China?

Whatever the reasons of shifting the manufacturing you believe the reality is in number and numbers speaks that US is losing its decisive edge on economic front ...

People need to have their lights on but don’t need to make shoes for somebody in Brazil. Plus even our coal plants have to meet environmental requirements. We have scrubbers and other tech to minimize pollution. This isn’t raw black smoke/soot being sent into the air like maybe in Pakistan.

 

[blueazure]

this is a flawed economic model which will not work, it will not sustain.

central banks print money without end and give an illusion of 'wealth' and 'spending' in society, while in reality, its just a ponzi scheme.

when this money printing crosses a certain threshold, the economy is suddenly throttled down with ' interest rake hikes' and everything crashes

the process is then repeated with near zero interest rates and the sheeple are in line


sadly, the same thing is happening in pakistan ...

 

[The Accountant]

Then why don't you shifted to expensive fossil fuel or renewable at the time it was too expensive?

Furthermore, your argument on pollution is irrelevant because whatever the reason it is your economy and financial position is suffering

People need to have their lights on but don’t need to make shoes for somebody in Brazil. Plus even our coal plants have to meet environmental requirements. We have scrubbers and other tech to minimize pollution. This isn’t raw black smoke/soot being sent into the air like maybe in Pakistan.

 

[Hamartia Antidote]

Then why don't you shifted to expensive fossil fuel or renewable at the time it was too expensive?

What renewables will serve the needs of hundreds of millions of people? You just can’t say that without knowing the realities.

We have had hydropower plants for 100 years, windpower, solar, etc.
Nuclear is too dangerous so we stopped that. Concentrating on Natural Gas now. Coal is less than 30%.

Working on nuclear fusion and electric cars. Once that is working our pollution problems will mostly be solved and then we will think about manufacturing again.

 

[The Accountant]

What renewables will serve the needs of hundreds of millions of people? You just can’t say that without knowing the realities.

Yes they can but cost would have been humongous but as per your claim US do not care about cost or trade deficit for you pollution is more important but apparently you are running on coal since past decade ... You switched to gas only after discovery of shale gas ..

Furthermore, if you are so much concerned about pollution than shale gas extraction has far more dangerous impact on environment than industiral output but you are extracting shale gas

 

[nahtanbob]

You must be joking ... You are saying textile manufacturing costs environment more than Coal Power Plant? If this is about the environment then why do you guys so worried about trade deficit with China?

Whatever the reasons of shifting the manufacturing you believe the reality is in number and numbers speaks that US is losing its decisive edge on economic front ...

Tell me any country who has gotten rich from textile manufacturing. Textile imports cost USA $100 billion. It is good policy to outsource it to Central America, Africa, Bangladesh of the world. USA needs to ban textile imports from China and send it to other 3rd world countries.

Even with all the losses USA has massive edge in manufacturing. they make a broad range of products. they own the products in lot of cases that are manufactured in China

USA is self-sufficient in energy - coal, oil and natural gas. USA has massive farm output. All your predictions of doomsday are not happening