It’s official. China is ahead of the United States in Luxury retail stores. Hong Kong, returned to China by the British in 1977 is the more prestigious place for designer and luxury goods. (Here). The failed 4 years of economic policies of President Obama from 2009 thru 2012 caused the decline in competitiveness of America. (Here). Of course Obama is in psychotic denial and blames the lowering of the competitiveness of America to Presidents Bush I, Bush II and Ronald Reagan but America was number one in competiveness when Obama took office. America is now number 7 and continuing to decline. Why? Because Obama is taking America into the Socialist Bloc while other nations are abandoning Socialism because it’s a failed economic system. People produce more when their culture is rooted in personal Liberty. Obama insists on raising taxes, regulating behavior, decreasing personal Liberty and Nationalizing more industries as he did with the takeover of the Medical Industry including the Drug Industry, so America’s economic strength has been declining as the expected consequence of the failed presidency of Obama.
The pity is too many Americans now support more government, more taxes, more regulation and less freedom. They re-elected the Architect of Bad Economic Policy, President Obama. His manical plans to lower the prestige of America, to lower the value of the U.S. Dollar, lower the ability of retailers to attract the worldwide luxury customers, etc., are working. He’s like a bank robber running the bank while the customers wonder why the assets are going out the back door.