The Slippery Slope to Third World Country Status

Wednesday, September 15, 2010
By Paul Martin

Poorrichard’s blog.com
Wednesday, September 15, 2010

The United States has long been heralded as the leader of the free world. America’s economic prosperity has ushered in advances in technology, medicine and defense. However, we are currently struggling to hold onto that position as we battle with high deficits, growing unemployment and a rising police state coupled with increasing political corruption. There are ten important signs that we are becoming a third world country.

1. Rising unemployment and poverty. American unemployment levels are approaching 10% as food stamp distribution and home foreclosures are reaching new highs. (The real unemployment rate, counting all those who would like to work but can’t find employment, is actually much higher). People are so hungry for shelter that 30,000 people showed up, for 455 vouchers, to apply for public housing in East point, Ga. Riots broke out prompting riot police to show up to quell the angry crowd.
2. Declining civil liberties. People who oppose this government are monitored, the freedom to assemble for protest is continually attacked and opponents are trashed as racists and insurgents. In fact, America is approaching the mindset of China, which has one of the lowest freedom scores in the world, according to Freedom House.
3. Economic dependence: China has cut America’s credit rating by pulling back on purchases of our debt. Our debt-to-GDP ratio of 90% is the IMF’s make-or-break point for countries hoping to grow their way out of debt. In 2009, the U.S. had an 85% debt-to-GDP and is projected to reach 94% in 2010 and 98% in 2011, creating a scenario where it will be virtually impossible to get out of debt. The economy is on the brink of collapse.
4. Increasing political corruption. Congress has a record-low 11% confidence rating and there are almost-daily revelations of ethics complaints and scandals among members of the ruling elite. When political corruption becomes the norm, it’s a good sign we’re living in a third world country.
5. Military patrolling the streets. Increased domestic presence of the military is a hallmark of most Third World countries, particularly in time of economic collapse. A report by the U.S. Army War College talks about the possibility of Pentagon resources and troops being used should the economic crisis lead to civil unrest, such as protests against businesses and government or runs on beleaguered banks.

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