USA in Decline

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The US and its citizens are addicted to debt much as a drug addict is hooked on heroin. Unless the US achieves rehabilitation, this failing alone will ensure that the USA will continue to decline relative to many other countries. Liberals are now firmly in control in the USA. In this political climate, there is no indication that our debt will not continue to increase dramatically. The modus operandi is to give a short term fix to all problems by dramatically increasing debt. The present financial crisis, itself caused by excessive debt is being fixed by even more debt. The burden for the few who pay taxes will become increasingly onerous and increasingly unacceptable for future generations. The best and the brightest will turn away from the USA, increasing the US relative rate of decline. Much that has been achieved in the USA since the end of the Second World War has been achieved by people not born in the USA. In future, the USA increasingly will not be the destination of choice for people with the most to offer. Instead it is the destination for illegal immigrants at the other end of the social scale. The USA is considered ugly by the rest of the world because it makes no effort to control its gluttony. In the USA, 25% of the world's energy is consumed by 5% of the world population. The USA also leads the world in obesity and in debt. The USA does not pay for its insatiable consumption. Despite its great opportunities, the USA has a high percentage of free loaders who pay little or no income taxes. They have become home owners through debt that they have not worked and saved to afford, through policies of US Liberal government. The ensuing tsunami is now engulfing the less fortunate people throughout the world, who are genuinely poor and are now having to suffer the consequences of our worthless paper debt instruments, while the USA takes on huge new debt to continue to feed its addiction instead of facing up to the reality of living within its means.

Weniger Details

David J. Phillips David Phillips graduated from Oxford University, on a full academic scholarship having grown up in the industrial Midlands of England where he was born. He has lived in the U.S.A. for the last 38 years and is a United States citizen, having emigrated with his wife. He has three sons and nine grandchildren. Two of his sons are investment bankers and one is a pediatric heart surgeon. Mr. Phillips has over 40 years of multi-national business development and turnaround management experience as a senior chemical industry executive. He has been CEO of six companies. In four years at Alcolac (owned by Rio Tinto Zinc Plc), he built sales from $45 million/year to $150 million/year and quadrupled operating profit. In two years, he returned Sherex (owned by Schering AG) to substantial profitability after four years of increasing losses. He has been founding CEO of two biotechnology and photochemical start-ups through 7 rounds of financing. One of these, Biocode was one of the founding companies of Authentix, recently acquired by Carlyle for $100 million. As President of the Houdry Process Corporation, he revamped obsolete petrochemical technology to pioneer the worldwide production and use of octane enhancers to replace lead in gasoline. Investments exceeded $10 billion, of which $3 billion have been in Saudi Arabia. When President Nixon normalized relations with China, Houdry under Phillips, already had Americans working in China. Subsequently he and his colleagues introduced Chinese in Mao suits to modern petrochemical and refining technology. During his career, David Phillips has created many new businesses and many thousands of new jobs. He has never closed a plant always opting to find new opportunities for them. He is currently bringing a previously bankrupt plant in New York State back to vibrant life with 40 new jobs so far in the past year. He and his wife of 43 years travel extensively throughout the world and there are few countries in which he has not conducted business. David Phillips came to the US to escape the tyranny of left thinking in 1970. He has lived in several different parts of the USA and most recently in Boston for over 10 years.