The “American Dream”—that anyone, from anywhere, could achieve fortune (and possibly fame) if they were prepared to work hard enough in the New World, has effectively crumbled under the twin modern liberal ideologies of outsourcing and mass immigration.
Instead of a golden future, the prospects facing many, if not most, young Americans are at best dreary.
A college degree is no longer a guarantee to a fixed career and according to a spokesman for the Center for Economic and Policy Research, most people trying to enter the US employment market will end up in temporary positions in the retail or service industry.
Just under a third of all workers in America are expected to hold low-wage jobs in 2020, defined as those with wages at or below what full-time workers must earn to live above the poverty level for a family of four. In 2011, this was $23,005, or $11.06 an hour.”
This, of course, applies to those fortunate enough to work 40 hours a week.
Workers employed in the retail, banking, and healthcare fields often only get 31-37 hours a week employment, and this situation will only grow worse once “Obamacare” goes into effect.
Lower wage occupations grew by 3.2% over the year ending in the first quarter of 2011, according to the National Employment Law Project.
About 50 percent of recent college graduates are unemployed or underemployed and those who have work are far more likely to be in the same boat as those who do not have degrees.
The problem is threefold in origin:
Firstly, the captains of industry and the political elite have deliberately followed a policy of putting shortsighted profit above long-term sustainability.
This means that they have deliberately outsourced America’s manufacturing capability to the Third World “because it is cheaper”—and thereby maximized their profits.
While this is “good” for short to medium term profit making, it is incredibly stupid over the long term.
Any successful economy is based on manufacturing—and a nation which does not manufacture, which does not produce goods, is doomed to first economic stagnation, and then economic regression.
The utterly false belief—pursued by the establishment and its Keynesian economic philosophy—that western nations can survive by transforming into service industries alone, will fail.
The loss of a manufacturing sector will inevitably lead to a smaller personal disposable income as salaries become lower in the ever-increasing scramble to sell cheap Chinese-made goods to an-ever declining market.
Eventually, the stage will be reached where disposable income will drop to the level where the masses will not even be able to afford the “cheap” imported consumer goods, and then the entire “outsourcing” model collapses in on itself, like a large and deadly Ponzi scheme.
Secondly, an irresponsible political ruling class has deliberately pursued economic policies which are designed to spend state income in ways from which the taxpayer cannot hope to benefit.
The most important such examples in the current US economy are without doubt the Wall Street bailouts ($7.76 trillion) and the catastrophic wars in Afghanistan and Iraq, which have cost around $6 trillion.
Thirdly, a deliberate policy of mass immigration from the Third World has resulted in the importation of millions of Third World-origin people who have brought with them Third World culture, socioeconomic conditions and all the problems associated with the Third World.
All these factors combined have turned the American dream—and indeed much of post-war western Europe—into a disaster zone which can only be turned around with the most radical action.