I believe the current economic woes in the United States are imbedded in our import economy. As more and more money is squeezed from the american consumer via credit card interest rate charges, gas guzzling cars, and HELOC's, the american consumer becomes addicted to low cost import products.
I could start a business right now. put a catalog of import products together, put up a website, and try and sell those products. Odds are that I won't succeed, but some have. However, whether I succeed or not, if our economy becomes more and more dependent on reselling only, with no emphasis on product creation and the servicing of existing product lines, the ability for local economies to refuel themselves is destroyed.
If our economy becomes all about the price of a import product with virtually no emphasis on quality, durability, repairability or usefulness of the product, we are doomed. We have actually reached that point in the United States. But what is probably sinking us is that our power elite either knows they have destroyed the local infrastructure all local economies need to survive, or they are too busy making the next big overseas import deal to care.