Paul Craig Roberts: the World is Uniting Against the Bush Imperium

Paul Craig Roberts: the World is Uniting Against the Bush Imperium: "Is the United States a superpower? I think not. Consider these facts:
The financial position of the US has declined dramatically. The US is heavily indebted, both government and consumers. The US trade deficit both in absolute size and as a percentage of GDP is unprecedented, reaching more than $800 billion in 2005 and accumulating to $4.5 trillion since 1990. With US job growth falling behind population growth and with no growth in consumer real incomes, the US economy is driven by expanding consumer debt. Saving rates are low or negative.
The federal budget is deep in the red, adding to America's dependency on debt. The US cannot even go to war unless foreigners are willing to finance it.
Our biggest bankers are China and Japan, both of whom could cause the US serious financial problems if they wished. A country whose financial affairs are in the hands of foreigners is not a superpower.
The US is heavily dependent on imports for manufactured goods, including advanced technology products. In 2005 US dependency (in dollar amounts) on imported manufactured goods was twice as large as US dependency on imported oil. In the 21st century the US has experienced a rapid increase in dependency on imports of advanced technology products. A country dependent on foreigners for manufactures and advanced technology products is not a superpower.
Because of jobs offshoring and illegal immigration, US consumers create jobs for foreigners, not for Americans. Bureau of Labor Statistics jobs reports document the loss of manufacturing jobs and the inability of the US economy to create jobs in categories other than domestic 'hands on' services. According to a March 2006 report from the Center for Immigration Studies, most of these jobs are going to immigrants: 'Between March 2000 and March 2005 "