[suspectnumber961]

The Contrasts Between America and Her Rivals
Are Striking ... If Not Downright Terrifying

It must even be apparent to the president himself: On a recent trip to Cambodia, only a few small groups of curious citizens appeared to watch Obama's motorcade speed through the streets of Phnom Penh.

America's rapid decline is especially obvious when it comes to economic matters:

A generation ago, America was still the manufacturing hegemon of the world. Now our manufacturing has been shipped offshore. A creditor nation only a generation ago, America is now a debtor nation.

America hasn't had a trade surplus since 1975.

The American savings rate today is only about a third what it was when Ronald Reagan was elected.

Now the Chinese are role models for saving. It has made them richer, even as we have become poorer.

Our status as a prosperous manufacturing empire has given way to a bankrupting and crumbling military empire. One that has left Americans staggering under trillions in debt.

Our prosperity has been traded for a mess of welfare state/warfare state pottage.

Meanwhile, China's commercial empire is spreading across the world at breakneck speed.

Where we have deployed troops at ruinous expense, China has deployed dealmakers.

It is a reality of stunning irony. For example, China became the first foreign nation to sign a multibillion-dollar oil deal with Iraq after the fall of Saddam Hussein!

In grand capitalist manner, China has been tying up resources throughout the Mideast — all across Africa, and even in the Americas.

Meanwhile our own economy, burdened by debt that will never be paid, is in intensive care. For those relying on the government's promises, the prognosis is grim.

Despite a temporary slowing in growth rates, China's economy is expanding more than three times faster than ours is and will soon eclipse ours in size and wealth.

With more than $16 trillion in public debt and $222 trillion in total obligations, Washington is debtor to the world — begging and borrowing every penny it can lay its hands on to finance our ruling class' scandalous vote-buying schemes.

With more than $14.4 trillion in capital reserves, China — an economy that was once devastated by collectivist government policies — has become the world's No. 1 lender.

Recently, we learned that America's manufacturing base is shrinking again; the ISM index is plunging to levels not seen since 2009.

Meanwhile, China's manufacturing base continues to expand at break-neck speed despite the massive slowdowns both in Europe and the United States.

Today China considers its 7 percent annual growth rate a slowdown. Growth at that pace would be considered a miracle here.

China's credit rating is "AAAA" — the best in the world.

America's credit rating has been downgraded and is in constant danger of additional downgrades as we face the Fiscal Cliff.

The rest of the world has become more friendly to capital — and capital formation — than it has ever been.

But here in America, the principles of the U.S. Constitution ... the rule of law ... the individual's rights to his own property ... are being systematically destroyed.

Now, with Washington spending all it has ... borrowing all it can ... and finally PRINTING trillions of dollars to feed its insatiable hunger for ever-greater political power ...

The U.S. dollar, which was once as good as gold, is deteriorating before our very eyes.

It has lost more than 66% of its buying power and nearly tripled your cost of living since 1980: To live as well as you could have on $20,000 in 1980, you'd need an income of nearly $54,000 today.

Charles Goyette