“Our current situation is entirely due to the Bush administrations policies of waging war and expanding the government while also cutting taxes.”
Agreed, they have been a nightmare. Still when you look at both the candidates spending they don’t address the issue of bringing the deficit down actually they both will increase it. So really what’s the sense of blaming bushco for a problem if Obama will only exacerbate it.
“That article also makes a common mistake of assuming that China and the U.S. are in competition.
That’s not exactly true. The reality is that its the wealthiest 1% of the worlds population vs. the rest of us.”
Again I agree, but who do you think the .1% interests are more aligned with us or the Chinese? Paulson practically lived over there and he did help engineer the housing bubble. China was the biggest beneficiary of the housing bubble as far as taking fake wealth and converting it to something real i.e. manufacturing base and stock piling commodities.
“And the very rich like things just how they are. The ruling elite in China are much more afraid of their own citizens than they are of us. They will do whatever it takes to maintain the status quo.”
And the US elite have the US significantly dumbed down and divided not to worry about its citizens. We will go down in flames bickering about nonsense.
Spain, Argentina, Pakistan, Ecuador, Ukraine, Hungary, Serbia, Latvia, Estonia, Lithuania, Romania, Bulgaria, Turkey and Switzerland are today all teetering dangerously close to various brinks, while there are undoubtedly dozens of basket cases hiding in the shadows, behind the veils of reassuring PR.
The people of Iceland, until a few weeks ago one of the richest countries in the world, no longer have access to the money in their bank accounts. That should be a warning sign for everyone, wherever you live. No matter how much money you have in the bank, if you can’t get to it, you can be poor from one day to the next.
And when the first of the long list of troubled countries start collapsing economically, we are all smart enough to realize that there will be mobs in the streets and runs on the banks.
What we see unfold before our eyes is not an economic crisis. It is something much bigger.
