By Thaddeus McCotter (R-MI)

We must address the clear and present threat to our economy.

Our prosperity stands on the precipice. Concerned Americans demand an explanation of how this happened and leadership that will walk us back from the cliff. But in the White House and along the campaign trail, the purported leaders fail to recognize or refuse to acknowledge the clear and present threat to our economy: the Great Deflation.

The failure to differentiate between an economic recession and this Great Deflation will cause an economically doomed generation.

But this need not happen. The strength of our economy — its capacity to generate employment, opportunity, and growth — is determined by the quality of its factories and its technology and innovation; by the depth and freedom of its marketplace; and by the ingenuity and efforts of its people. By these measures, we Americans should continue to have the strongest economy in history, and one which continues to grow.

So while our economic challenges are daunting, they can be surmounted. It is only a question of our will to take action.

[ READ THE FULL ARTICLE ]

The United States by every measure is hanging on by a thread to its First World status. Saddled by debt, engaged in wars on multiple fronts with a rising police state at home, declining economic productivity, and wild currency fluctuations all threaten America’s future.

The general designations of the ranking system for world status date back to the 1950s, and have included countries at various stages of economic development. Since the Cold War, the definition has come to be synonymous with repressive countries where a wealthy class of ruling elites segment society into the haves and have-nots, many times capitalizing on the conditions that follow an economic crisis or war.

While much of the world is still mired in poverty, the reduced cost of innovative tools such as computing and connectivity ironically puts traditional Third World countries at the forefront of a new lean-and-mean economy that is based on ideas of empowerment for the disenfranchised. For better or worse, the world is leveling due to Globalism. However, America and other over-leveraged countries face this re-balancing of the globe at a time when they have dwindling resources. We can speculate about who and what is to blame for America’s fantastic fall, but for the purposes of this article we shall focus on the obvious signs that the United States is beginning to resemble a Third World country.

[ READ THE FULL ARTICLE ]