Recently, China overtook the United States as the largest Economy in the World -- at least when measured by the PPP (Purchasing Power Parity) metric. In Bill Whittle's latest Firewall, he shows why this is not just a crying shame -- it's a crime -- and he tells us what we can do about it.
Hi everybody. I’m Bill Whittle and this is the Firewall.
A few days ago, we rather quietly passed a milestone – a big one. For the first time since the 1870’s – that would be during the administration of President Ulysses S Grant – The United States is no longer the worlds largest economy.
“Hold on to your hats, America,” reports Brett Arends of MarketWatch in his online article, “And throw away that big fat Styrofoam finger while you’re at it.”
Now I don’t know anything about Brett Arends politics, but throwing away that big fat Styrofoam finger – the red, white and blue one that says “we’re number one!” is a long held-wish of the progressive left. It’s so gauche, so unspeakably vulgar, this Phillistine business of having pride in yourself.
This news about us taking second place, economically, to China is not a bug for the left – it’s a feature. They hate this country. Collectivists – like our President, let’s say -- have always hated capitalism, always hated individuality, always hated the idea that more work leads to more rewards… in other words, always hated everything that America has stood for.
Just before he was elected, Barack Obama famously bragged that he and the progressive movement would “fundamentally transform the United States of America.” Is that something you would want to do to something or someone you loved – fundamentally transform it? Would the first promise you made to a new bride you claimed to adore be that you could not wait to fundamentally transform her? Progressives are happy we’ve fallen to second. It reduces global inequality.They’ll be happier yet when we’ve fallen to third, or tenth, or twentieth – the way our education system did when they got their hands on it.
Now China, needless to say, has a little more than four times the population of the United States. Surely we should be satisfied with that, right? That one-quarter of China’s population – America – produces just slightly less than they do?
No, dammit, we should not be satisfied. First place is not a statistic. First place is an attitude. First place is an identity. First place is destiny, and the instant you become willing to come in second at anything you will find second place is a sliding slope to nowhere. not where you will remain.
That China is growing at an incredible pace is self-evident. A lot of that is not something we can do anything about – but a lot of it is something we can do something about, but won’t. A significant portion of China’s tech industry is – how should I put this delicately – STOLEN from western research and development. We don’t retaliate because we can’t add; our deficit spending makes us their slaves.
And another significant portion – everything from pirated movie disks to “Adidos” running shoes to “Boreos” cookies to “Arm and Hatchet” baking soda are just flagrant theft worth trillions. But put all that aside. That’s just bitching about a bad call. Or two. Or three. Million.
The reason China has surpassed the US economy is pretty simple, really. The Socialist Chinese leadership has kept the dictatorial essence of socialism while allowing the Chinese people to embrace a capitalist ethic of hard work and reward for effort. Meanwhile, on the other side of the ocean the American Progressives are trying, and succeeding, in foisting laziness, envy, irresponsibility, government dependency and sloth – in other words, socialism -- on the American people.
Record numbers of Americans are on food stamps, unemployment, and other forms of taxpayer support – in other words government forced redistribution of income, at the cost of long-term growth and prosperity. But it’s much worse than that.
The Progressive left has throttled what might have been the most booming economic recovery in American history through irresponsible fiscal policy, higher taxes, and absurd regulations – mostly regulations advocated by environmental hysterics. And none of them make the slightest lick of sense: While doing everything he can to prevent America from cleanly burning the plentiful, inexpensive fossil fuels right beneath our feet, he then sells coal and oil to China – where it’s burned, and not very cleanly, in the same atmosphere we inhabit.
World dominant militaries depend on world dominant economies. World dominant research and innovation depends on the incentive of financial reward and freedom from ridiculous levels of regulation. When guys like Steve Jobs, the founder of the most cash-rich company in the world, says he could never start Apple in America today, that’s not because we’ve run out of garages, or capital, or people willing to risk that capital. Virtually all of the great ideas still come from right here. But the Progressive left, which is significantly too stupid and infinitely to lazy to go out and make their own wealth, taxes and regulates new start-ups to death to feed a government that costs about four thousand billion dollars a year… then you know these shackles are self-imposed, and what we could do if we would just release ourselves from these self-imposed chains would not just astonish the Chinese and the rest of the world – it would astonish us ourselves.