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I dont disagree with your points but the nut is how do you turn the world around because that is what you would have to do. The US isnt going to abbrogate their existing free trade agreements openly because doing that would create an uproar that would sink the ship totally. Their are a few things you can do. Use the existing envrionmental concern to tack on a carbon tax to imports based on the miles they have traveled to the US and the carbon footprint. This would hit china hard and drive up the costs of some imports. Invest heavily in R&D and Education these really are your only hope to pull out of the death spiral. Enact measures to reduce consumption. Short term pain because a good chunk of the GDP is made up of that consumption. In fact I hate the way we measure GDP because the majority of it isnt production but rather consumption that it indicates. The US is like a family living beyond its means running rampant with the Credit card. The first step....cut up the friggen credit card. Unfortunately Bush/Obama didnt do that they simply upped the spending limit. Both parties are reacting to their political need to get reelected not doing what is right which is allowing some stuff to crash and burn like Detroit and some of the banks. Now that aint gonna happen because it isnt in those guys interest in the house who have to get reelected on too often a basis. So my advice sit back and get ready for the mess to come it will be worse than last year by far because all that has really happened is a delay of the inevitable.
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