We are paying a huge price for Fox News...even if the "novelty" has worn off...
It will take a while to get back to normal...hopefully in 2012...
In a sense however both sides are reacting to the same situation...namely the collapse of the US economy...which has been in a downward spiral for decades... living mainly on serial asset bubbles for a very long time...
THE ASSET BUBBLES ARE OVER...at least as a diversion to "mask" the reality of the decline...
If Republicans continue to insist on America taking its real position in the world...debt free...that will mean a very very big decline in the American standard of living...
And very likely we will go through a LONG GREAT DEPRESSION...to get there...
It is unclear that the Chinese "middle class" is ready to be the consumers of the world...like Americans where up until recently...
In any event Americans will be a slow growth backwater... Perhaps socialist like parts of Europe...or Perhaps a dysfunctional plutocracy...like you still have in parts of Latin America... We see the outlines of that Plutocracy developing even now...
SOCIALISM OR PLUTOCRACY ARE THE ONLY OPTIONS AVAILABLE NOW...
