20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

The Business Insider ^ | 2-4-2010 | Michael The Patriot Blogger

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20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

Michael The Patriot Blogger
Feb. 4, 2010, 10:26 AM

Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly.

But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover.

The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here.

And it is going to be painful.

[snip]

[dennisw]

It sure as hell doesn’t help to have 20 million illiterate, poor slobs who jumped our borders.

The credentialed classes demanded them for cheap labor and picking cheap produce for them. For slaves. The Middle class never wanted these invaders. Lots of businesses wanted them especially during the construction book

Much that the credentialed classes do is totally useless to America such as most of the legal profession. They contribute nothing of value to America. Lots of what the medical profession do is pointless. Lots of what over-credentialed government bureaucrats do is pointless. Everyone has to eat and feed their families so for those people doing this unneeded work...what can I say?

[stephenjohnbanker]

There isn’t a lot more to say, but you outlined the situation quite well.