The big upturn in the U.S. economy was due to technology. Advances in computer and electronic technology launched a consumer spending boom. All of a sudden people saw amazing changes in computers, video games, phones, T.V.'s car luxuries, and everything else with an electronic component. With more money being spent, more jobs were created, stocks rose, in short prosperity.
Then globalized markets came. Jobs outsourced, China came onto the world stage, manufacturing stalled, and consumer confidence crashed. This was followed up by two wars, the Housing crash, and a subsequent stock market fall.
Today we face a new challenge. We have a 10 trillion dollar deficit, manufacturing makes up only 10% of U.S. jobs, we are tied down in two wars, have an energy crisis. China has become the worlds largest creditor, manufacturer, and boasts a 262 billion dollar trade surplus. Add to this the impending import of Chinese cars into the U.S. (the nail in the coffin for U.S. car manufacturers). And now China is poised to soon begin the construction and export of commercial aircraft.
The United States is in peril. "Our", and I use the world painfully, newly elected president needs to focus on the task at hand, and not social justice. People are hurting, but things are guaranteed to get worse. Throwing a Band-Aid on the wound is not the answer, we need to change the entire course of the nation. The United States needs a long term policy change on economics. Globalization has been the death to American Industry. What The United States needs is a Nationalization of American pride. Re-imposing of tariffs on imports. Harsh prosecution of white collar crimes. And the removal of U.S. troops and dollars in non-U.S. interests. American needs to follow, in part, the example that China showed us. That is a United States First policy to rebuild our economy and strengthen our financial security. Anything less is a waste.