AS FAR AS SPRING FLOWERS AND NEW PUPPIES IN MAY...?
YES....DEFINATELY...HAVE NO FEAR..!
BUT AS FAR AS THE US BANKING SYSTEM AND THE AMERICAN ECONOMY...?
NO....ITS OVER...DESTROYED...DOUBLE DOG BANKRUPT...!
IT'S TOO FAR GONE... THE EXCESSES AND LOOTING WERE SO GREAT THAT THE "OLD SYSTEM" CAN NEVER BE RESTORED...
SOME KIND OF "NEW ECONOMY" WILL EMERGE WHEREIN AMERICANS "CONSUME WHAT THEY PRODUCE" ....AND NO MORE...
HOW LONG THIS TRANSITION WILL TAKE WILL DEPEND ON HOW QUICKLY THE NOTION OF "AMERICAN EXCEPTIONALISM" PERSISTS...
IF THE US ECONOMY CAN TRANSITION AWAY FROM THE RELIANCE ON DEBT, THE DOLLAR AND BUBBLES...,THINGS COULD MOVE FASTER...
BUT IF, AS OBAMA SEEMS TO WANT...AN ATTEMPT TO "JUMP START" THE US ECONOMY IS BASED ON "HOME RE-FIs" ....AND EVER MORE CONSUMER SPENDING AND DEBT...THEN THE US ECONOMY COULD BE PUNK FOR DECADES....
SIMPLY PUT. THE COUNTERS MUST BE SET BACK TO ZERO...
AND THE US ECONOMY NEEDS TO BE RE-BUILT LITERALLY FROM SCRATCH...BUT BASED ON A SUSTAINABLE, NON-BUBBLE, ECONOMIC MODEL.
THE KEYENSIAN MUTANT MONSTER IS DEAD...GREENSPAN POISONED IT BY REFUSING TO "TAKE THE PUNCHBOWL AWAY."
INDEED, TARIFFS MAY NOW BE NEEDED TO PROTECT AMERICA'S ...."INFANT INDUSTRIES"....SO MUCH PRODUCTION WAS SHIFTED TO CHINA AND ELSEWHERE BY INTERNATIONAL CAPITAL THAT THE US ECONOMY IS ALMOST TOTALLY "DE-INDUSTRIALIZED!" NEED PROOF...FOLLOW THE TREND ON MANUFACTURING EMPLOYMENT...
JUST WHEN YOU THINK THERE IS NO ONE ELSE TO LAY OFF... ANOTHER 100,000 LOSE THEIR JOBS...
THIS IS SERIOUS...
BUT CAN IT BE "FIXED?"
FRANKLY I DOUBT IT...
AMERICA HAS A UNIQUE ROLE IN THE WORLD AS THE "TYPE O" CULTURE...THE "UNIVERSAL DONOR" IF YOU LIKE...
BUT THE ECONOMY IS NOW SO STRUCTURALLY DAMAGED THAT THE "COURSE OF EMPIRE" MAY HAVE TO MOVE TO SOME PLACE ELSE...
GREAT SOCIETIES FALL...AND OFTEN THEY WERE ONCE THE KEYSTONES OF CIVILIZATION...EGYPT, ROME, BYZANTIUM, IMPERIAL ENGLAND, FRANCE AND RUSSIA... ALL FELL...AND AT SOME POINT THEY DID NOT "COME BACK."
I FEAR THAT THAT IS THE FATE OF AMERICANS NOW...
THERE WILL BE NO "RE-BIRTH" THIS EASTER...
BUT ON THE BRIGHT SIDE...THERE WILL BE SPRING FLOWERS AND NEW PUPPIES... ENJOY THEM....
