The fading of the American Dream

Not again. The grim outlook of the Federal Reserve and the not-so-encouraging economic data in Europe and China send jitters in the US stock market recently tumbling share prices for three days in a row now. The depressing data all the more amplify fears of another global recession. I just hope not.

As life in the US worsens, more and more Americans are now seeking another "Land of Opportunity" in search for a better life: Canada. Yes, Canadian officials say that the number of Americans applying for temporary work visas doubled between 2008 and 2010 reports CNN. The report added that Immigration lawyers are "seeing a dramatic growth in clients seeking to come to Canada to work, or even as permanent residents."

Does this mean that the American Dream is dead? Economics Nobel Laureate Joseph Stiglitz, says so. He portends that the new generation is likely to be "poorer than their parents." Worse, the next generation will have to bear the brunt of paying more taxes to support the older generation, writhe upon the never-ending increase in food and health care and endure the debt in perpetuity for education and home ownership, which according to Stiglitz amount to “a stone around their neck.”

In other words, Americans are unhappy about their future. In fact, the faith in the American Dream is but just another commercial tagline we ordinarily see on TV. Here's why. On May this year, in a survey commissioned by New York Life, only 4 out of 10 parents think that their children will have better life when they become adults.

The polar shift in the American national belief system all the more push many Americans to seek the Promised Land elsewhere and Canada seems to be not only the most logical in terms of distance but ideal in many ways. “Politics, health care, social issues, and possibly even the strengthening of the Canadian dollar” are being cited by the Association of Canadian Studies as reasons why more and more Americans are choosing to immigrate to Canada.

Also, an increasing number of Mexicans are deciding to bypass the United States as an immigration destination, heading to Canada instead.

It may not be endemic, but the American diaspora is for real and an emerging phenomenon.

Filipinos who are considering moving to the United States should be well aware that life there is getting harder. Not all Filipinos live the American Dream and the same goes for many Americans. If Americans no longer have faith in the American Dream why don't we all start building the faith in the Filipino Dream instead?    

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