Stimulus Packages? (in prose)

The per capita income in China is
$3600 per year compared to $48400
in the US. Thus competition is impossible
and we lose most of our industries.
In response we spend trillions of dollars
on 'stimulus packages', reduce taxes and
upscale entitlements. To facilitate this
we have to print an unlimited amount
of new currency, causing inflation and
devaluating the dollar till the actual
value of our $48400 is equal to the
$3600 of Chinese per capita income.
This drastically reduces our standard
of living.

It will be tough for US adjustment
to such a lower standard, although
Chinese standards may go up, this will
be too slow a process to make much
of a difference in the foreseeable future.
Prospects are rather bleak.

Alfred Charasz
Copyright 2009 Alfred Charasz