American wealth is also trickling down to other nations. It is easier for a rich business owner - one with MBA training - to ship his work to China rather than hire Americans to innovate.

Its not that China, et al is the problem. It is rich MBAs - also known as buyers of politicians – who view innovation as an expense. Innovation is something dirty and too complex to deal with when one has a degree based in myths such as ‘economies of scale’. Therefore some industries move overseas when better educated Chinese or Indians do the work.

Well, US trade imbalances are so large that we just ran up another $1trillion debt in the past two years. Does it affect you? Not yet. The Chinese especially have been major buyers of American Treasury Notes. Then George Jr can still spend wildly and freely - and the government will pay the Chinese back in 20 and 30 years. It’s called mortgaging the future. Also what GM did when they 'forgot' to fund pensions while those employees were still working. Then when times get tough later, we forget the blame the original reasons for job losses, poverty, stagflation, malaise, and the resulting wars.

These were the lessons of the 1970s when 1960s Richard Nixon did same to the US economy. When industries then used MBAs to 'downsize'. When American innovation was so stifled that even the Science and Technology Index became thinner. Money games today - such as the how many $tens of billions in pension funds being dumped onto the US Government - will haunt us all in 10 years. That is a lesson from history - complete with a war based upon lies from a president, massive government debts, energy shortages, and a reduction of students educated in things that actually create products and wealth.