According to the Mercer Report we are ranked 2oth in Pay to our workers and that does not include other benefits that many “Social” countries give their people such as Universal healthcare, Free Tuition, Free Vocational/Technical training, 50 days a year off including holidays,extensive welfare safety nets ,etc.

The Mercer Survey was from 2006 and indicated that the workers pay was figured with inflation in mind in each country and after-tax income.

Switzerland and Germany had the highest wages in the world.

Norway, Germany,Switzerland,Spain,Denmark,Sweden,Findland,Japan,Canada,Ireland,Australia,Hong Kong were amoung the countries with higher wages and benefits.

The US life expectency is ranked 48th and falling in the world. US Citizens rank 70th in Healthy living or living without health problems when ranked against the rest of the world.

Parts of the US have third world standards when one looks at the following.

-Life Expectency and health standards
-Debt levels on Federal, state, consumers, US corporations,trade deficits,etc which total over 60 Trillion and climbing rapidly!
-Affordability of College Tuition, we are now losing big-time because of College Expenses.
-Vocational/Technical Training System such as in Germany which produces a high wage and high skill workforce is very weak in the USA.
-The US Infrastructure is falling apart including Roads, Bridges, Dams, Water Systems,Ports,Power supply,etc.
-US healthcare system is substandard
-Us poverty rates are high and in cetain regions of the country the approach third world standards.
IN the richest parts of the country the average life expectency is 90 while in the poorer regions the average life expectency is around 50 and falling!
-Alot to do with the Rich/Poor Gap
-Lack of US manufacturing and now trade deficits even in High Tech products.
-Decreasing Farmland and Trade deficits in Farm Products.
-lack of oil and oil deficits
-lack of renewable energy plan to replace oil and other fossil fuels.
-9 times per capita person population compared to other western nations and also the highest Correctional Population in the world approaching 8 million)Parole, Prison,House arrest,probation,etc)
-A primary Education systen which is substandard and ranks near the bottom of the industrial world.
-World biggest debtor nation with countries like Germany and Japan buying up our assets making us into a colony of sorts.
-lack of safety nets for population including welfare, training, compensation insurance, unemployment insurance,healthcare,college and technical training,etc which are all weak or non-existing.

Much to do if America is to survive without breaking up into different countries!

You know my opinion already. Having witnessed the failure of trade barriers to save the British-owned car industry, I am generally against trade barriers, but since China’s exchange rate policy involves its own restriction (ie a closed capital account), China could hardly complain if the US imposed retaliatory restrictions (reserves control).

I suspect you have seen off Twofish with your facts on the relative importance of manufacturing and finance though!

But restrictions on imports that are general, apply to all imports, do not create the same problems.

If these restrictions are applied only to 5 countries, China, Japan, Germany, Canada and Mexico, the U.S. trade deficit could be reduced and finally brought under control.

The only way the large trade deficit will be reduced is by import restrictions of some kind and the scheme I proposed in above posts is the most reasonable.

Manufacturing contributed over 45% of corporate profits before 1980, but only 19% in 2006. Finance filled the gap. As manufacturing declined, Finance grew. From aroune 5% of corporate profits in 1980 to 26% in 2006.

The problem we are having today is that the finance system is no longer contributing to corporate profits as it was in 2006.