And that fills WalMart's (and most other Big Box stores) shelves. And we get cheap products, which saves us money so we can buy more cheap products.
And all of this leads to a loss of American jobs as Chinese manufacturer's rule - because they make products so cheaply.
And this, in turn, is destroying our entire economy. So, what can we do?
Actually, getting back on the right path and building a strong economy is quite simple. Unfortunately, we as consumers, and therefore our leaders who must depend on consumers to get elected - well, neither has the backbone necessary to make the changes that are necessary.
Here is what should be done:
1) Place a 25% tax on any and all imports from China until they stop manipulating their currency
2) Apply that tax income toward paying off our debt to China - pay them off with their own money
3) Reduce corporate income tax rates in America to 15% - the same as China, so American business will have more incentive to stay in America
4) Reduce the power of unions that strangle businesses with ever-increasing benefit costs. Place limits on benefits, which will permit American businesses to compete more effectively.
That is what is needed, and it would not cost our government a dime.
But they will never do it, because we, the people, are addicted to "stuff". And as long as China can produce "stuff" cheaply, we can all have a lot of "stuff".
The consumer does not want to pay a fair price for goods. They demand bargain prices. So Congress will never do what is necessary because our leaders want to get re-elected.
The only way we will straighten out this mess is if we, the people, tell our leaders that we WANT them to do this, even if it hurts us a bit. Maybe we won't have as many toys and games, but that is not a bad thing. On the other hand, a bankrupt, weakened nation that can no longer protect us from our enemies is, indeed, a VERY bad thing.
Come January when the new Congress takes over, call your Representatives and Senators and tell them that they need to do this even though you recognize it will hurt your own pocketbook for awhile. Remind them that it is their job to protect us - even from ourselves.