HAYS, Kan. - China has a national economic strategy designed to create more and better jobs. We have global corporations designed to make money for shareholders, regardless of where they reside.
Robert Reich, author of Aftershock: The Next Economy and America's Future, recently explained that the United States "doesn't have a national economic strategy. Instead, we have global corporations that happen to be headquartered here."
As many others have pointed out for at least a decade, the U.S. now has two distinct economies. We have the economy of "Main Street" and the economy of "Wall Street."
The two don't move in lock-step anymore; when one is profitable (Wall Street and global corporations), the other economy (made up of American small businesses not located in China or India and including most American citizens) is often unaffected or worsened.
That's why multinational corporations (such as ExxonMobil or Microsoft) are doing really well while many of our neighbors and friends are stressed and hurting.