China has been on a roll, having overtaken America in steel, mobile phones, beer, copper, net foreign assets, exports, fix investment, manufacturing output, energy consumption, car sales, and patent granting.
Now, it is only a matter of time before China surpasses America in other critical categories, including Gross Domestic Product (GDP).
China Overtaking America | Year |
Steel consumption | 1999 |
Mobile phones | 2001 |
Beer consumption | 2002 |
Copper consumption | 2002 |
Net foreign assets | 2003 |
Exports | 2007 |
Fixed investments | 2009 |
Manufacturing output | 2010 |
Energy consumption | 2010 |
Car sales | 2010 |
Patents granted | 2010 |
Retail sales | 2014 |
- $1.25 trillion pledge over ten years for outbound investments
- 500 million Chinese tourists
- $40 billion to revive the Silk Road with Europe
We discussed this topic on my show last night, and some felt I was “putting America down.” Make no mistake, we are still number one. However, to rest on our laurels any further would be a colossal misstep. The world is nipping at our heels; we can be quiet for fear of sounding unpatriotic, or we can sound the alarm.
There are aspects of China's economy that was once characteristic of America's economy, and there are things currently with our economy that used to be characteristic of China’s. Let’s be clear, China is all about graft and connections, but America has seen an avalanche of new rules and regulations driving the entrepreneurial spirit underground... or to higher ground.
The first time we put our economy in neutral was in the 1970s when we owned everything. Japan began exporting Datsuns (small cars) and transistor radios. Yes, there was hysteria about Japan overtaking the United States and it did not happen... I think China learned something from that.
Salute a Vet
Hey baby, what you know good
I'm just gettin' back, but you knew I would
War is hell, when will it end?
When will people start gettin' together again?
Are things really gettin' better, like the newspaper said
What else is new my friend, besides what I read
Can't find no work, can't find no job, my friend
Money is tighter than, it's ever been
Say man, I just don't understand
What's going on across this land
Ah, what's happening brother?
Yeah, what's happening? What's happening my man?
-Marvin Gaye
Happy Veterans Day... we would not be here without you, Our Nation’s Heroes.
On Sunday, Richard Overton, America’s oldest WWll veteran celebrated his 108thbirthday with a little whiskey and a cigar. Mr. Overton served from 1942 to 1945 in Palau, Iwo Jima, and Guam… my daughter is one- quarter Guamanian and one quarter- Palauan.
We can never forget or take for granted veterans’ sacrifices as they exemplify what America is all about: more than Wall Street, professional athletes, and TV anchors.
It is so easy to wake up each day, and to get involved with our day-to-day stuff that is ultimately trivial compared to all the lives of those who came before us, especially those who have fought, and those who will do so in the future to defend our country in order to allow us to enjoy freedom.
The veteran unemployment rate is coming down, yet it is still too high.
Since September 11, 2001: Unemployment 7.2%
- Women Vets 11.2%
- Men Vets 6.2%
This trend is reversing after last week’s midterms that saw newly elected vets:
Senate:
- Joni Ernst
- Tom Cotton
- Dan Sullivan
- Ryan Zinke
- Lee Zeldin
- Steve Russell
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