For many years I reported monthly on the jobs reports from the Bureau of Labor Statistics.  Over the years the new jobs were consistently in health and social assistance, waitresses and bartenders, and government employment.  

Manufacturing jobs making things that could be exported to pay for imports simply were not present.

I emphasized that the jobs offshoring policy associated with globalism was de-industrializing the United States and destroying the middle class and the ladders of upward mobility that had made America an opportunity society.  I held accountable the economic professors at Harvard and Dartmouth who promised that the lost of US manufacturing jobs, which they derided as “dirty fingernail jobs,” would be replaced by higher paid clean fingernail tech jobs.  No such jobs ever appeared for the displaced manufacturing work force which has ceased to exist.

Fortunately, the US dollar being the world reserve currency allows the US to pay its bills by printing Treasury bonds.  As Treasury bonds are the reserves of most foreign central banks, there has been a constant demand for more reserves.  Thus, financing the US debt has been no problem. When US debt grows, so do the reserves of the world’s central banks.  No problem.  David Stockman in 45 years has been unable to learn this.

The problem is internal.  Manufacturing jobs are high productivity, high value added.  Therefore the wage is high.  The replacement jobs–stocking big box store shelves are low productivity.  Consequently, the growth of income from wages stagnated and declined.  Today American living standards are based more on credit than on productivity.

Engineering and design follow manufacturing.  When manufacturing leaves, so do engineering and design.  

America was the loser.  China was the winner.  Wall Street forced American manufacturers to offshore their production to China in order to raise profits from lower labor and compliance costs. Wall Street ordered US manufacturers to “meet the Chinese price” or Wall Street would finance takeovers of the companies and move their production offshore. Clearly, Wall Street is an anti-American entity.

I remember when Washington’s strategic thinkers said it would be 50 years before China would be a problem for American hegemony. The offshoring of US manufacturing, technology, and business knowhow reduced the time to 5 years.  Today on a purchasing parity comparison, the Chinese economy exceeds that of the US.  This is what globalism did for America.  It made the American economy subordinate to China. 

American economists were too well paid by globalists for me to draw them into a debate.  Instead, they stayed with their propaganda, and America lost the ladders of upward mobility.

To worsen the situation, the Democrats and Republican business interests left the borders open to millions of immigrant invaders who have overwhelmed educational, health, and housing services and driven down wages in the low productivity jobs.  Today the profits of fruit and vegetable growers and meat slaughter houses depend on cheap immigrant-invader wages.

But this is only the beginning. According to Bloomberg News, Artificial Intelligence will soon eliminate 20-40% of the jobs in America’s largest cities. Robotics are eliminating other low skilled wage jobs.  What will America do with a population displaced by the digital revolution and AI?

Civilizational collapse stares us in the face, and not a single media source mentions the fact.

Let’s look at June’s jobs report.  It is the same as those I reported over many years.  Where are the 147,000 jobs?  Health care and social assistance provide 58,600 jobs.  Leisure and hospitality provide 20,000 jobs. State and local education provide 63,500 jobs.  That accounts for June’s new jobs.

Clearly this is not a robust economy. Except for the 20,000 leisure and hospitality jobs, most of the rest are financed by  government budget.

Now, you tell me how is America a superpower instead of an emperor without any clothes?  Why should anyone be afraid of a country that pays its bills by printing debt instruments?  The reason is that the US has nuclear weapons and is under Israel’s direction.  

That is sufficient to terrify the world.

https://www.paulcraigroberts.org/2025/07/10/globalism-destroyed-american-jobs/