EconomyInCrisis.org Examines Why the Economy is Failing Current look at the cause of the United States' current economic pitfalls. EconomyInCrisis.org is a news blog dedicated to educating legislators and the American public in regards to the destruction of our country's industrial base, the impact on national and economic security, and the effect on our standard of living. We publish critical but overlooked facts and figures, keeping our readers up-to-date with daily articles regarding the U.S. economy. Dublin, Ohio (PRWEB) June 22, 2009 EconomyInCrisis.org is a news blog dedicated to educating legislators and the American public in regards to the destruction of our country's industrial base, the impact on national and economic security, and the effect on our standard of living. We publish critical but overlooked facts and figures, based on statistics form the US Treasury, IRS, and the Bureau of Economic Analysis keeping our readers up-to-date with daily articles regarding the U.S. economy. The United States is in open competition with the same countries from which we buy much of our consumer and capital goods and finance our government, while they simultaneously compete fiercely against our own companies in international markets. Nations like India, Japan and China, along with trade blocs like the European Union, rail against the U.S. when we attempt to protect our industries that they are now putting out of business. They do this because they do not want to have their unrestricted access to our free market, through "free trade," tampered with. Other countries, like China and Japan, hypocritically protect their companies by putting limits and restrictions on the amount of American-made goods flowing into their markets. The United States puts up no such regulations, and is thus flooded with foreign-made goods. NAFTA, and other "free trade" agreements, favor the foreign producers. We are told by the World Trade Organization (WTO) and the European Union (EU), that we are not allowed to protect our own economy. Through the WTO and other "free trade" agreements the U.S. must open itself up to all foreign interests, regardless of consequences. Our government has eroded its own regulations regarding foreign-takeovers, mergers and acquisitions. To make matters worse, most successful American companies are for sale on an open stock market. As a result the United States has lost thousands of companies to foreign takeovers in the past 30 years, and stands to lose even more as the economic crisis deepens. The same cannot be said of other countries, where takeovers are closely regulated and major industrial champions rarely - if ever - get purchased by an interest overseas. It is inevitable our foreign competitors have or will soon economically conquer us. Most Americans do not realize the gravity of the situation because so much of the media attention favors the "free trade" system that has bankrupted us. Scholars, politicians, professionals, and others from all walks of life have been indoctrinated into the idea that "free trade" is the best and only way to do business. Our political leaders believe in this whimsical idea, and those that do not preach the fallacies of "free trade" are bought and paid for by self serving major corporate interests and foreign lobbies. Our factories are shuttered and our industries are unproductive. This country imports consumer goods that could and should otherwise be made at home. It exports its wealth, strength, and prestige in exchange. With no internal capabilities remaining and no strength we are now insourcing, inviting foreign corporations to manufacture in the U.S. for their profit and benefit, with states fighting over who will pay the most to bring in another foreign manufacturer. There are now thousands of foreign-owned, American-registered companies in the United States. Many of the automobile factories which presently supply our car market are foreign-owned. Our state, local, and federal governments continue to offer tax breaks and subsidies to these foreign companies in exchange for a few American jobs even after this practice drove our own automakers out of business. In the near future we may find our living standard diminished and our prospects for growth and economic independence dampened. Without any homegrown industries to drive a comeback we will be forced to be content with our diminished status. While formerly living in the lap of luxury we allowed the greatest economy on earth to fall apart by living on imports, foreign-financed debt, dismembering our industrial infrastructure, and liquidating our best companies to foreign interests. Until now we have passively accepted this, but now it must be clear that we cannot continue like this. Rather than bailing out banks and insurance companies, we must establish new priorities to make our country an independent self-supporting, productive country again. Demand that your Congressional representative start to do something about this immediately. Out of concern for America's deteriorating economic condition, the individuals responsible for EconomyInCrisis.org donate their expertise and time. EIC does not support any political organization or corporate interest. To learn more about America's economic problems and potential solutions log on to EconomyInCrisis.org. 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