Saturday, October 18, 2008

Buy American products, the real bail out

by Charles Roring
Todays' financial crisis in the US is the result of weak real sector in the US. Every day, the US market is flooded with cheap products from foreign countries. Consumer goods from China, Japan, and other Asian countries occupy most of the shelves of American supermarkets and department stores.
While Asian countries are exporting cheap products to US market, American people are exporting their money abroad by buying those foreign products. This has happened for years.
It is ridiculous to see that the money is reinvested in American in property sector. This in turn weakens American economy. The more foreign products American families buy, the more money they export to foreign countries.
Although the money has been reinvested in building houses for American families, actually American people have become slaves of capitalism. They have to pay mortgage and home equity back to developers who mostly obtain cheap money by selling shares in stock market. That cheap money is not free, devident has to be paid by developers to investors every year. This weakens the American economy even more.
If American families continue to buy cheap foreign products thus exporting their money abroad, sooner or later the US economy will collapse.
We can easily see the signs of the collapsed economy. Companies are closed, higher unemployment, lower wages.
 
What can we do to get out of this crisis?
It's very easy. Every time we go to supermarket or discount stores, choose American made products. By doing so, we have helped companies save more jobs to more American people. In the past, sam Walton, the founder of Buy America campaign led the world's largest discount stores in selling American products to American people. Now, Walmart is importing more foreign made products that are cheaper than American made ones.
If Walmart really cares about America, it will prioritize American products to be put on its shelves across the nation. More American products you buy, the more money you can stop from flowing to foreign countries. Although American made products may be more expensive than foreign made ones, they provide more jobs to American people. Therefore, the next time you visit a nearby supermarket - just be a smart buyer!
So, the real bail out lies in the will of every American citizen in changing their spending habits. Buy America now, and you have bailed out this country from financial crisis.