The average cost of living for a US family is about $58,000 per year, the average income for a US family is about $56,000 per year. This puts the average US family $2,000 in the red year after year. This is great business for banks and credit card companies who have flooded US mailboxes with credit card offers for years. “What’s in your wallet?!”
The average global income is just $18,000 per year. This presents a great opportunity for businesses to arbitrage off of worker wage and benefit packages. When workers get too combative the octopus like global operation lifts up a tentacle and moves it to where more docile and repressive regimes exist. Many US businesses wouldn’t be profitable if they kept their operations in the US. A significant portion of the new 1% in the US are people who’ve been hocking Chinese made goods and making money hand over fist from US citizens paying with credit cards. US workers earn more than 3 times the global average but are they worth it? Apparently not based on how jobs have drained away over the years.
The scary reality is that robots and automated systems can be run considerably cheaper than $18,000 per year meaning that before long, pressures on human workers will continue to increase.
We’ve also seen the US “Master of the Universe” in the financial sector bailed out, costing American taxpayers trillions. And we’ve seen unnecessary military actions costing trillions more.
Today, half the world’s wealth is now in the hands of 1% of the population and in order to stay in the 1%, the 1% must compete on a level playing field with respect to the other one-percenters all over the world. This is the calculus of the wealthy in the US who have bought our politicians and control our political process and news cycles lock, stock and barrel.
The odd thing is Trump claims to speak for the average American who is more underwater each and every day. Is he really serious about this or is he offering up promises he can’t possibly deliver on? Only time will tell. I’m not encouraged by his actions and the people he surrounds himself with and all the shenanigans he’s been involved in.
To be fair to Trump, as we should be to Obama, the problems the US faces are daunting and very likely unsolvable at least in terms that will be acceptable to the average American. More likely than not the rich and powerful in the US will cut expenses of the government to the bone in an effort to level the playing field.