Posted by: michael nola
Comment: #1
Sat Mar 28, 2009 7:15 PM
If, by some chance we dodge the bullet again, and the economy "recovers", what does that really mean? An overview of 21st century America reveals a country whose "economy" is increasingly financial, to whit, a bunch of guys in corner offices creating debt through the manipulation of paper which will enrich only them and not loaning capital to produce actual three dimensional objects made, sold and bought by fellow Americans. The jobs being created are low paying service type which are not capable of sustaing any type of expected life style--thus the endless borrowing against the "equity" in homes, if any, or the payday loan scandal spreading across the country. In short, places like Walmart give you lower prices, and with that much lower wages and larger trade deficits. The race to the bottom leads you to the bottom. Henry Ford knew if he paid his employees well, enough, they'd be able to buy his products; such common sense thinking is nearly extinct in a world where Communist China is the economic paradigm. What passes for an economy in this country is not, and can never be sustainable, and thus it will collapse beyond any chance of repair if not amended ASAP. We're all in shit creek, only the rich have wet suits and scuba gear--take a deep breath.
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