It's going up very slowly, at best (and probably with an honest evaluation of inflation, it's going down) while the ownership (and any ensuing profits) of many corporations is slowly moving off-shore. What that means is very simple: while we are producing product, we are not paying only ourselves for our labors, we are also paying off-shore owners. It would seem to me that a more satisfactory measure of the direction the US economy, taken as a whole (or maybe a hole), is headed would be some number that looked at (GNP - exported earnings). If that number is decreasing, then the wealth of the US populace is falling, no matter that the goods and services it produces may be increasing in value. As an end point, one can visualize an economy in which the capital was held completely by off-shore interests. That would make us look much like many of the former colonies of European countries, or like the US colony of Cuba before its revolution. Not a pleasant projection, is it?

That would make us look much like many of the former colonies of European countries, or like the US colony of Cuba before its revolution.

Financially, we seem to be becoming a colony of our creditors, who will no doubt be snapping up American companies once the Dow goes below 10,000. (Or maybe they'll wait a bit longer). Real estate is already being sold; the Chrysler Building just was acquired by out friends in Dubai. But even if the country falls completely apart at the seams financially and constitutionally, or even becomes a fascist dictatorship, there are still all those pesky nukes. So there would have to be a satrapy; the leadership of the U.S. would be taking orders from America's creditors while still probably continuing the charade of free elections.

Sometimes I think that Bush and the Neocons are all a bunch of Communists in drag who are intent on destroying the country.

Back in the 60s, there was a lot of leftist talk and feeling that USA would move left. It didn't happen. In2008, there's much LESS leftist expectation.

Lenin wrote that liberals are an obstacle to his kind of revolution because they reduced inequality and suffering (supposedly spurs to revolution).

Current conservatives have been mouthing off about "killing the beast" (govt and taxes). They are preppies. What can you expect?

USA lacks popular leftists. Left wing talk radio doesn't sell.

USA is firmly in the grip of plutocrats and TLC members. "The people" don't count for much.

What's gonna happen is a good question. Right now, guys like Paulson and Bernanke have the apparent power. If they fail, it won't be leftists moving in.

I keep hearing that polls show Mc to be polling even with BO. Last week, I heard that BO was up by 5%. Is BO collapsing? Or is it just the expected Amurrikan prejudice getting counted? I suspect both.

What a country!

USA has no real economic thinkers shown on TV or in mainstream academia.

If we had them, they would focus on the world takeover by pools of nation-free capital without any allegiance, except to the ideals of investor-owers.

Hasn't that been W's goal all along? TLC's?

It WAS kind-of Marx's worldview, wasn't it?

Exploitation of masses (swarms) of laboring people without power.

With Globalism in full swing and the money moving away from WASPs, it's time for them to panic. Or will they just sit back and wait, like Paris Hilton? Very likely. They're doing OK even if USA isn't. Ownership is still getting good profits.

Who cares if the masses get squeezed?

Time for new economic ideologies!

Back in the 60s, there was a lot of leftist talk and feeling that USA would move left. It didn't happen. In2008, there's much LESS leftist expectation.

Using the same contrarian sentiment analysis they use for stocks, maybe the lack of leftist expectation today means that the country WILL move leftwards? Americans during the late 1920s were pretty conservative by and large; five years later they dragged FDR towards socialism.

Phil,

Well, considering we've been living off 107% of our GDP for the past few years (after all, that's what our trade deficit means), it's not surprising that it's slowing down... and won't it be a rude awakening if others decide they don't want more of our dollars. Living within our productive means...yikes!