Title: Phillips delivers a potent wake-up call
Review: I found Phillips' analysis of financial market focus verses manufacturing and what it portends for US hegemony veryinteresting. Consider the number of industries that, thanks to NAFTA and the WTO, are increasingly being lost to China and Mexico. This type of economic policy is good for the top 1% club that will benefit by financing foreign industry. Once these industries are lost they won't be coming back in our lifetimes. How many articles of clothing or consumer electronic goods are manufactured in the US?Phillips also brings to light the extraordinary power wielded by the Federal Reserve and Alan Greenspan. How is it that someone who has never appeared on a ballot can wield so much powerin a democratic nation?Perhaps all the confusing statistics and abstruse pronouncementsfrom the Fed constitute a convenient farrago that shields elected officials from being voted out of office by the 99% of the population who haven't paid for their services.
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