The entire world now recognizes that America has lost its economic power and is dependent on the rest of the world to finance its budget and trade deficits. The US no longer holds the cards. American real incomes are falling, except for the rich. Jobs for university graduates are scarce, and advanced technology products must be imported from China. The US is a rapidly declining power and may soon end up as nothing but a tinhorn dictatorship.
Dr. Roberts is Chairman of the Institute for Political Economy and Research Fellow at the Independent Institute.
I don’t agree with his sentiments in their entirety, but the entire column is worthy of a glance here.
