Thursday, February 4, 2010

This time it's serious!

One of the things that annoys me is how casually most people are taking the grim economic news that is happening all around them.  They think that this economic meltdown is just a typical recession and soon everything will be all right.

Well here's a guy who seems willing to tell them that are just wrong.  And of course, I am of the opinion that we cannot pull ourselves out of the fix we are in without major political change.  Like riots in the streets--storm the Bastille change, not Uncle Barry change.  So even though I do not agree with this guy's politics, he is right to point out the jam we are in if we treat seriously the debts imposed on us by the banksters.
20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover
Michael The Patriot Blogger | Feb. 4, 2010, 10:26 AM 
Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly.
But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover.
The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here.
And it is going to be painful. more

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