It seems that the media can't wait for a depression and are all hot and bothered about it.
Do they not know that THEY TOO will be affected by what one would call a self fulfilling prophecy?
And the US is entering a period of weakness.
I wonder if the rest of the world will wake up and decide that we actually were useful to have around and that maybe -- just maybe -- we weren't a brutal hegemonic power.
The feds have gotta slowly begin phasing out crop price support credits.
The feds gotta stop giving globs of money to Democrat urban mayors, who waste 80% of it on crony projects that involves union inefficiency.
The feds gotta open up huge areas of the US for energy development, and the feds gotta stop subsidizing energy companies (if that is what occurs)
All segments of governments - local state and national - have got to morph into lean fighting machines.... so citizens and private companies can focus on making money instead of sending money in to tax departments.
They could be right. I wouldn’t be surprised to see four years of military and economic weakness, starting next Tuesday. I’m even afraid that it will turn into eight years of weakness, since American voters are slow learners.
“One of the world’s leading economists has given warning that the United States is facing a decade of financial misery, with the number of unemployed Americans set to continue to rise for years.”
Yes, and the chief cause will be government policies that drag out the downturn.
Harry S. Dent predicted this long downturn back in about 1992, in “The Great Boom Ahead.” He has expanded on this with other books since then. Dent has badly missed on some of his stock market predictions, but his general economic predictions have been quite good. He predicted the housing bust would start in 2010, so it came a little early. He thinks it will take about 15 years to really shake all the problems out. He also predicts terrorism will gets worse as the world goes through this long economic downturn.
Usually I would agree that the media is just selling blood as they love to do, but this time (even though the media doesn’t know it) the outlook is not just a short recession and then off to the races again, IMO. We have short-circuited two recessions and the demographics of the country are not good for growth. Recovery from the current problems will take a long time. It will be made worse since government now has a mandate from the people to interfere with free markets in a futile attempt to repeal the economic cycle all capitalistic countries must tread.
The increasing levels of debt will make this much more of a problem. I see no debate about debt and deficit financing, which is surprising.
Americans, broadly speaking, seem utterly intent on delving into a kind of State Socialism which has already been rejected as a miserable failure in the former Soviet Union and communist China. The same experiment has led to immeasurable suffering in Great Britain, the decline of which is now all but irreversible.
One is forced to wonder if there might not be some variety of self-hating death wish motivating these people. Handed the greatest and most prosperous nation in the history of the world at the end of World War II, a nation paid for by generations of self-sacrificing patriots in oceans of blood and mountains of treasure, many Americans now wish, apparently, to destroy it all.
Born during the administration of Harry Truman, I can see little or nothing remaining of the America I once knew.