This is the biggest bunch of hooey I have ever heard or read. Just about every CPI indicates that our money goes farther today than it did a generation ago. Cars last longer; tires last longer; medicine costs more, but that's because there were fewer drugs back then (just ask yourself, would you rather have cancer in 1950 or 2005); TVs cost less; clothing costs less. Are jobs going overseas? Yeah, but new jobs are being created. And not just at Walmart. Most of the jobs that are moving overseas are mindless jobs that require little education. People find new jobs- heck, some even form their own companies. Economies change. 100 years ago we were still an agricultural society. Now, very few people are involved in agriculture. But that's a good thing- it means we are more productive.
Same with the making of cars, airplanes, boats, you name it. Most of these things require FEWER people to make one unit that 50 years ago. This is good- it means more of us can afford these items. As I wrote, times change. Should we go back to the horse era so buggy makers, blacksmiths and the like can have their jobs back?
The only problem today is that we have more "needs". When I was growing up we had 7 channels of TV (we had a bunch in NY); no cell phones; fewer vaccines (although we still had to get the small pox shot); we actually rode our bikes and walked to school if you lived too close for the bus- I could count on two hands the number of kids who drove their own cars; it was rare to fly a commercial flight; fax machines were against the law; should I go on? You can go back a generation if you want. I'll stay here.