Globalism can officially be declared dead after the Energy Information Administration reported that U.S. crude oil and natural gas reserves both just hit all-time-record highs. Globalism is a corporate outsource construct that was designed in the 1970s to respond to the end of the United States' 100 years of economic dominance that was driven by domestic energy costs that averaged about one third of world costs. With international manufacturing input costs in the late 19th century averaging 8.5% for labor and 13.5% for energy, American companies used their energy price advantage to competitively "hollow out" the British manufacturing sector.  During WWI and WWII, over 50 percent of U.S. exports to Europe and Asia was oil. But when U.S. manufacturing declined with the rapid rise in Middle East oil production, secretary of state Henry Kissinger negotiated a banking and security agreement with Saudi Arabia in 1974 to recycle oil revenues into U.S....(Read Full Post)