the destruction of the US economy, though far advanced, is still largely unknown ....

Goodbye to the city upon a hill and to its fabled economy | By Paul Craig Roberts

“We shall be as a city upon a hill. The eyes of all people are upon us.”
— John Winthrop

America is being destroyed. Many Americans are unaware, others are indifferent, and some intend it. The destruction is across the board: the political and constitutional system, the economy, social institutions including the family itself, citizenship, and the character and morality of the American people.
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06/25/07 "ICH " -- -- Those who rely on the Internet for information are aware that the Bush regime has successfully assaulted the separation of powers and civil liberty. Both Bush and Cheney claim that they are not bound by laws that impinge on their freedom of action or that interfere with their ideas of the power of their offices. Bush has issued presidential directives that permit him to make himself a dictator by declaring a national emergency. Cheney asserts that his handling of secret documents is not subject to oversight or investigation or bound by a presidential order governing the protection of classified information.

The foundation of social organization — marriage, family, and parental control over children — is disintegrating.

Mass unassimilated and illegal immigration has destroyed the meaning of American citizenship and forced large numbers of Americans into unemployment. For example, Steve Camarota at the Center for Immigration Studies reported on June 20 that state employment data show that in the first six years of the 21st century 218,000 high school graduates in the state of Georgia have been employment- displaced by immigrants. [Employment Down Among Natives In Georgia] Moreover, wages have stagnated, putting the lie to the claim that there is a shortage of workers. If there were a labor shortage, wages would be bid up and rising.
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A Google search will call up enough information to make the case for these points many times over. However, the destruction of the US economy, though far advanced, is still largely unknown. It is to this subject that we turn.

For a number of years Charles McMillion of MBG Information Services and I have documented from BLS nonfarm payroll jobs data that the US economy in the 21st century no longer creates net new jobs in tradable goods and services. In the 21st century, job growth in “the world’s only superpower” has a definite third world flavor. US job growth has been limited to domestic services that cannot be moved offshore, such as waitresses and bartenders and health and social services.

These are not jobs that comprise ladders of upward mobility. Income inequality is worsening, and education is no longer the answer.

The problem is that middle class jobs, both in manufacturing and in professional occupations such as engineering, are being offshored as corporations replace their American workforces with foreigners. I have called jobs offshoring “virtual immigration.”

The latest bombshell is that even those professional jobs that remain located in America are not safe. There is a vast industry of immigration law firms that enable American corporations to replace their American workers with foreigners brought in on work visas.

For years Americans have been told that work visas are only issued in cases where there are no Americans with the necessary skills to fill the jobs. Americans have been reassured that safeguards are in place to prevent US companies from using the work visas to replace their American employees with foreigners paid below the prevailing US wage. Now, thanks to a video placed on “YouTube” by a US law firm, Cohen & Grigsby, marketing its services, we now know that it is easy for US companies to legally evade the “safeguards” and to replace their American employees with lower paid foreigners. ...
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Only a few economists, such as myself and Charles McMillion, noticed the inconsistency between alleged high rates of productivity and GDP growth on one hand and stagnant real median incomes and rising income inequality on the other. Somehow the US economy was having GDP and productivity growth that was not showing up in growth in the incomes of Americans.

Thanks to economist Susan N. Houseman and the March 22 issue of Business Week, we now know, as I reported in the print edition of CounterPunch (June 1-15, 2007) and online at VDARE.com and Online Journal, that much of the growth in US productivity and GDP was an illusion created by statistics that mistakenly attributed productivity gains achieved abroad to the US economy.

With the ladders of upward mobility for Americans dismantled by offshoring and work visas, with the very real problems in mortgage and housing markets, with the very real stress put on the US dollar’s reserve currency role by Bush’s trillion dollar war that is financed by foreigners, with the downward revisions in US GDP and productivity growth that are now mandatory, and with a variety of other problems that I haven’t the space to deal with, the fabled US economy is a thing of the past.

Just like America’s prestige. Just like the world’s goodwill toward America. Just like American liberty. ...