Politicians from both parties have done their part to drive this country to hell. Some party has to stand up and say turn this bastard hell ride around! Third party? Maybe if no one else can stomach taking on Goldman Sachs and the rest of the financial industry that has taken over our great country. But it sure would be nice if it were the Republicans instead. After all what do Republicans owe these bloodsucking vampires? Goldman Sachs and others spent a fortune getting Obama elected.
Can the Economy Recover?
There is no economy left to recover. The U.S. manufacturing economy was lost to offshoring and free-trade ideology. It was replaced by a mythical "New Economy."
The "New Economy" was based on services. Its artificial life was fed by the Federal Reserve’s artificially low interest rates, which produced a real-estate bubble, and by "free market" financial deregulation, which unleashed financial gangsters to new heights of debt leverage and fraudulent financial products.
The real economy was traded away for a make-believe economy. When the make-believe economy collapsed, Americans’ wealth in their real estate, pensions and savings collapsed dramatically while their jobs disappeared.
The debt economy caused Americans to leverage their assets. They refinanced their homes and spent the equity. They maxed out numerous credit cards. They worked as many jobs as they could find. Debt expansion and multiple family incomes kept the economy going.Can the Economy Recover? by Paul Craig Roberts on Creators.com – A Syndicate Of Talent
If you liked my post, feel free to subscribe to my rss feeds
Stumble It!
BlogoSquare