THE BOTTOM HAS DROPPED OUT OF THE US LABOR MARKET... THERE SEEMS TO BE NO FLOOR.
THE US HAS BEEN LOSING IT'S "LARGE OPERATIONS" FOR SOME TIME... BIG EMPLOYERS ARE A THING OF THE PAST... MOST OF THEM ARE OFFSHORE OR WERE BANKRUPTED BY THE BUBBLE ECONOMY.
THE TOTAL DESTRUCTION OF MANUFACTURING IN THE US CONTINUES APACE...
THIS IS A DEPRESSION UNLIKE ANYTHING THAT HAS BEEN SEEN IN MODERN TIMES...
MY HUNCH IS THAT EVENTUALLY SOME KIND OF COLLECTIVIST ECONOMY WILL BE NEEDED TO PUT THE US ECONOMY IN A POSITION WHERE IT CAN EVEN SUSTAIN ITSELF...
IN SHORT...THERE WILL BE NO RECOVERY... TO RECOVER ASSUMES A LIVING ORGANISM THAT CAN BE REVIVED...
THE AMERICAN ECONOMY HAS BEEN A ZOMBIE...SUCKING THE BLOOD OF ASSET BUBBLES...FOR DECADES...
ALL THAT HELD THE BUBBLE UP WAS THE WILLINGNESS OF THE GLOBAL ECONOMY TO SUSPEND DISBELIEF ... AND ACCEPT THE PAPER DOLLAR AS IF IT WERE GOLD...
THAT WAS THE FATAL FLAW AFTER GREENSPAN TOOK OVER...AND THE PUNCH BOWL WAS NEVER AGAIN TAKEN AWAY.
NOW THAT IS OVER... THE US "UNDEAD" ECONOMY WILL SIMPLY HAVE NO CHOICE BUT TO COLLAPSE ...
