Americans seem to have some regrettable notion that simply by being Americans, they are entitled to a high and improving standard of living. Incorrect. That may have seemed to be the case for many decades, however they are in for a terribly unpleasant shock. An ever more global economy is a reality, and although the subject is to some degree over-worked, it is true that Americans cannot expect to be compensated handsomely for similar work that Asians are willing to perform at a far lower wage. Nor can businesses in India, China, etc., expect to be able to continue to pay those low wages permanently. There probably will be some sort of a "meeting in the middle" during the coming years with Asian wages growing and American paychecks falling. That's good news for Asians, but bad news for many Americans.

To a significant degree, Americans are living off the heritage of our former small-government, free-market, capitalist economy that has been the engine that provided the increasing standard of living Americans used to enjoy and today's Americans seem to expect. I say former, because we now have anything but that any longer. The central government attempts to manage wealth creation while creating zero wealth whatsoever. Its main products are regulations, failed programs, and aggressive foreign wars. Not one of these has a constructive impact on the wealth of this country, and I believe that the "military-industrial complex" that President Eisenhower cautioned us about may be the most destructive factor of all. Anyway, given his military experience he certainly must have known all about it. War is horribly costly, and as we've observed, as soon as we get into one the attitude becomes one of "we must have triumph thus we have to expend whatever is required to attain it." Sounds like a path to national bankruptcy. Imagine what might have been accomplished with the money we've allocated to these wars. And that doesn't even include the social damages to people and families.

In any event, downsizing on a personal level is going to be the new thing to do, regardless of whether we like it or not. A continuously increasing standard of living derives from private savings and investment, hard work, along with a political setting created by a government that does not act like business expansion will proceed regardless of what the government might decide to do to impede it. As far as those factors are absent, so also will expanding personal wealth be outside our reach.

One does not have to like the laws of economics, and one can utilize the services of those with mistaken ideas to get the answers one desires, but the facts stay the same.

Are Americans Entitled To A Forever Growing Standard Of Living Greater Than The Rest Of The World?
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Money Is Necessary For Basic Commodities.
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