Americans seem to have some unfortunate notion that simply by being Americans, they have an entitlement to a superior and improving standard of living. False. That might have seemed to be the situation for some decades, however they are in for a really agonizing shock. An ever more global economy is a fact, and although the subject is somewhat over-worked, it is true that Americans can not demand to be compensated handsomely for similar work that Asians are prepared to perform at a far lower wage. Neither can businesses in India, China, etc., expect to have the ability to always pay those low wages permanently. There probably will be some form of a "meeting in the middle" during the coming years with Asian wages rising and American paychecks falling. That's good news for Asians, but not so great for a lot of Americans.

To a significant degree, Americans are living off the heritage of our former free-market, small-government, capitalist economy that has been the engine that provided the growing standard of living Americans used to enjoy and today's Americans appear to expect. I say former, simply because we now have anything but that any longer. The central government tries to manage wealth creation while producing zero wealth whatsoever. Its main products are rules, unsuccessful programs, and aggressive foreign wars. Not one of these has a constructive impact on the prosperity of this country, and I believe that the "military-industrial complex" that President Eisenhower warned us about could be the most destructive factor of all. In any case, given his armed forces experience he certainly must have known all about it. War is unbelievably costly, and as we've seen, as soon as we get into one the mindset becomes one of "we need to have triumph thus we need to expend whatever is necessary to attain it." Sounds like a route to national bankruptcy. Think about what might have been accomplished with the cash we've allocated to these wars. And that doesn't even include the social costs to people and families.

In any event, downsizing on a family level will be the new thing to do, regardless of whether we like it or not. A continuously improving standard of living derives from private savings and investment, hard work, and a political setting created by a government that doesn't behave like business expansion will proceed no matter what the government might decide to do to impede it. To the degree those factors are absent, so also will increasing private wealth be outside our reach.

One does not have to like the laws of economics, and one may utilize the services of those with flawed ideas to get the answers one would like, however the facts stay the same.

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