Americans were proud of this fact – and rightfully so. Although many items were imported from other countries, the bulk of goods were produced in the US. Hondas and Volkswagens were still referred to as "foreign cars."

Then (to my best recollection), whenever I visited the US in the 80's I noticed that many goods that had traditionally been American-made were beginning to be show labels that read, "Made in Taiwan", "Made in Korea", and, increasingly, "Made in China." Not all Americans seemed completely comfortable with this, but I didn't notice a major revolt against it either. After all, the prices were low.

Then, in the 90's, the doors were thrown open completely. It seemed that every type of article was being made in Asia, and "Made in USA" was becoming a thing of the past. Americans appeared to be somewhat concerned, but the mighty Walmart changed everything.

It seemed that everything that Americans needed could be found in Walmart. Nearly all of it came from China, and it was all incredibly inexpensive. At that point, it looked as though America collectively tossed aside the stars and stripes and drove down to Walmart to fill up the shopping cart. Any remnant of a belief in "Buy American" was dispensed with.

"Coming to a Country Near You: Hyperinflation"

America is riding a runaway train away from productivity and toward dependency on other countries for the great majority of its products. In the meantime, it is rapidly inflating its currency. Yet very few Americans seem to understand the significance of this.

One can almost picture the advertisements: "Coming to a country near you: Hyperinflation". Yet, Americans that I talk to firmly state that there is no chance of hyperinflation occurring because… (are you ready for it?)… "They could never let that happen. It would ruin the country."

Yes, it would ruin the country – they've got that right. However, hyperinflation is all but unavoidable at this point. And when it does occur, those $15 dress shirts at Walmart are going to rise to $30, then $60, then…? Bed linen that sells for $50 will double to $100, then redouble to $200.

Where Will It Stop?

Quite honestly, I haven't a clue where it will stop and I don't think I'm alone. The US is in for a wild ride in the near-term to medium-term future, and no one truly knows just how wild a ride it will be.

The Fed's policy to inflate dramatically is a major factor, but not the only one. China is also inflating, particularly with regard to wages. This will be felt in the cost of their export goods. The train is clearly speeding up, not slowing down.

One thing is certain: the chain stores that you see in every mall across the country that are now selling dress shirts starting at $50 will have long closed by the time dress shirts are $50 at Walmart.