[SAJ]

A decade ago, I thought Roberts was really quite a decent commentator. Wrote some excellent, believable, even demonstrably true columns about markets and macroeconomic topics.

In the ensuing years, either he's gone off the deep end or I've done. The latter prospect is scarier than the former.

The economy **is** in trouble...long-term. The US middle-class was mostly created after WW II. The US had the advantage of an undamaged physical plant, cheap energy, an overlarge labour force courtesy of the GIs all coming back w/in a 2 yr period, and little if any competition from abroad. That's the good news.

The bad news is that, beginning not later than 1949, the Regress took it into its mind (if such it may be called) that this happy situation would persist forever, and they've operated on that premise ever since, blithely disregarding any and all evidence to the contrary, with their only imperative being to get re-elected.

The bad news has been enhanced with not a little help from the LBJ-type socialists, the one-worlders, the anti-American crowd, and a considerable number of people who simply cannot add, the Panglossians, the Micawbers.

Add to this unfortunate mix the IRS 'Code', which has continued to make the bearing and raising of children both an accounting and an actual liability to middle-class parents since roughly 1954, and ...this economy be in a heap o'trouble.

How does it all play out? Darned if I know...but the train has left the station.

Three choices: be on it, be under it, or be Dagny Taggart.

[beyond the sea]

re: The bad news is that, beginning not later than 1949, the Regress took it into its mind (if such it may be called) that this happy situation would persist forever, and they've operated on that premise ever since, blithely disregarding any and all evidence to the contrary, with their only imperative being to get re-elected.

The bad news has been enhanced with not a little help from the LBJ-type socialists, the one-worlders, the anti-American crowd, and a considerable number of people who simply cannot add, the Panglossians, the Micawbers.

Add to this unfortunate mix the IRS 'Code', which has continued to make the bearing and raising of children both an accounting and an actual liability to middle-class parents since roughly 1954, and ...this economy be in a heap o'trouble.

How does it all play out? Darned if I know...but the train has left the station. --------

Very well said, imo. We may need a miracle to save this situation.

I'm skeptical enough some times that I think that the demise of our economy is in the cards of the world bankers.......... that this is the plan all along, to bring America down. Just guessing.