posted on Sep, 14 2010 @ 03:04 PM
"It is true: Today's economic problems are structural, not cyclical," argued New York Times editorial writer David Brooks.
He said the United Sates is losing its world dominance much in the same way the British Empire began to crumble more than a century ago.
"We are in the middle of yet another jobless recovery. Wages have been lagging for decades. Our labor market woes are deep and intractable," Brooks
Nobel Economics Prize winner Paul Krugman also voiced concern about the fate of the fragile economic recovery if voters return the Republicans to
"It's hard to overstate how destructive the economic ideas offered earlier this week by John Boehner, the House minority leader, would be if put into
practice," he wrote in a recent editorial.
I agree with the article mostly, and it seems to have some credible economists, but the quote above kind of set me back a step. Then I looked more
closely at the site and I saw ads for LGBT Healthcare Discrimination, and Advertise "Liberally" and I began to wonder about the motivations of the
I certainly agree that the "jobless recovery," combined with our mountain of Federal debt, combined with our mountain of "personal debt," combined
with our over-extension of bonds to China and Japan, combined with the decline of the dollar and the pressure from foreign nations to replace the
dollar with other currencies in the Oil Trade has put the nation in a precarious situation without any clear solution.
In short, we are in deep sh*t!! It has to come crashing down, and the trigger to make all the dominoes fall could come from anywhere. China has
stopped buying long-term bonds, and is now buying shorter-term. A disaster, a new war, a trade issue, the commercial loan bubble, a poor Christmas
season, a surprising election, at this point, just about anything could send us tumbling into depression.
edit on 14-9-2010 by getreadyalready because: added bolding to the external text