THAT IS WEIRD...!
IN 1982 INTEREST RATES WERE AT 20%.... CD's PAID 16%....!
SO TO SAY THIS IS 1982 RE-VISITED IS TO IGNORE A LOT OF ANOMALIES...
MY HUNCH IS THAT THIS IS DIFFERENT...
LETS CALL IT 1932 REVISITED...
THAT IS THE BETTER YEAR... BUT EVEN THEN UNEMPLOYMENT WAS 25%...!
I THINK WE GOT US A BRAND NEW KIND OF FUNK HERE...
AS YET TO BE DESCRIBED IN THE ECONOMIC LITERATURE...
WHAT I SUSPECT IS HAPPENING IS THAT MOST PEOPLE REALIZE THAT THE US DOES NOT HAVE A VIABLE ECONOMY ANYMORE...
AND THAT THE LAST FEW YEARS HAVE BEEN ALL ABOUT THE ECONOMIC AND POLITICAL ELITES LOOTING THE AMERICAN ECONOMY TO THE BONE...
EVEN WHILE DISTRACTING PEOPLE WILL WEDGE ISSUES.
NOW THERE'S YOUR FUNK...!
A CERTAIN HOPELESSNESS ABOUT THE ENTIRE SITUATION IS FINALLY SETTING IN...
CAN PRESIDENT MC CAIN HANDLE IT...?
WE'LL SEE...BUT I DOUBT IT.
