>Coming Soon: Rationing – Part I

Virtually all of the shoes and 90% of the apparel US consumers buy today is imported, mostly from China. Americans spent $350 billion dollars in 2006 on apparel and footwear. Once those Chinese, who are working hard to produce those shoes and the apparel they are exporting to Americans, decide to stop taking the IOUs Americans give them – Americans have a gargantuan trade deficit with China, $256 billion in 2007 – the Chinese may just decide to stop shipping their shoes east. The Chinese have been investing those mountains of depreciating dollars in the United States in the form of US Treasury bills and bonds and in US stocks – like Fannie Mae and Freddie Mac. If the Chinese lose faith in the American’s ability to repay their debt, or if they decide they no longer wish to hold the Old Maid of fiat currencies – the American dollar – they will stop shipping shoes [and clothing] to the United States. [That is why the Jewish banksters have worked so hard to prevent the financial system – including Freddie Mac and Fannie Mae – from imploding – they can’t let the Chinese and others lose faith in the ability of the American system to repay it’s obligations or the entire system will collapse and their sinful profit making scheme will come to an end].

When the Chinese stop supplying American demand for shoes and apparel, shoes will most likely be rationed by the US government or by market price – black market price – because there will simply not be enough shoes to go around. This shortage will be due to the fact that Americans no longer produce their own footwear and are essentially completely dependent on imports to cover their feet.

Today, more than 98 percent of all footwear and more than 90 percent of all apparel sold in the United States is imported. For comparison, in 1980, only one-half of all footwear and less than one-third of all apparel sold in the United States was imported.

Today, less than 630,000 people work in the manufacturing of apparel, textiles and shoes in the United States – a loss of over 1.6 million jobs, or almost three-quarters of the entire manufacturing workforce since 1974. Almost 1 million of those jobs have been lost in the last decade alone.

Despite this seemingly bleak picture, the U.S. apparel and footwear market is booming. Americans like their clothes, and their shoes, and it shows. U.S. consumers spent a record $350 billion on apparel and footwear last year, [2006] or an average of $1,800 for every man, woman and child in the United States.

Soon, very soon, China will not need to sell it’s shoes to the US – it will be able to export its footwear and clothing production to other people in the world, like the BRIC nations – Brazil, Russia, India and domestically in China itself.

U.S. footwear and apparel firms, however, recognize that 95 percent of the world’s population lives outside the United States. Some of their fastest growing markets are no longer in the United States or Europe, but in China, or India or Brazil.

Ways and Means Committee Hearings

Very shortly, methinks Americans are going to be in for a rude shock and be short of shoes, unless they can plan ahead and buy a pair of shoes or two to wear in the next few years. Hopefully during that time they will wake the heck up and realize that this globalization male cow dung that has been forced upon them has wrecked their economy and start making the drastic adjustments needed to rebuild and once again protect their own industries.
worn out shoes_01

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