I've come to the conclusion that total economic collapse is inevitable. On the plus side, Eastern Europe emerged rapidly from the ruins of communism. A quick collapse, with a default on the debt, could force a return to the economic "state of nature" --a market economy.
OTOH, the collapse could be blamed on "capitalism." That thought keeps me up at night.
The collapse will be blamed on capitalism by the media and Democrat Party.. And a majority of those in the United States [I do not refer to obama voters as Americans] will believe them.
Yes. More technical term for the state after the collapse is "natural order".
Maybe dumb it down for the 99%ers I call it "greed". Greed comes in many forms, including lobbyists, government czars, local unions, etc.
“I’ve come to the conclusion that total economic collapse is inevitable. On the plus side, Eastern Europe emerged rapidly from the ruins of communism. A quick collapse, with a default on the debt, could force a return to the economic “state of nature” —a market economy.”
I don’t see the end result being like eastern Europe, I see it being more like the USSR.
As to who is blamed for it, that will depend on where you started. The left will blame capitalism, of course. The right will more correctly blame a legacy of profligate spending that couldn’t be maintained. We’ll see if the right wing actually addresses the underlying problems of the birth dearth, amorality, an educational system working at a 3rd world country pace, the death of the work ethic, etc.