Socrattt, I with you all the way here, but I would add ‘ignorance’ to the list of direct causes for economic woes. Looking at the big picture, the declining US manufacturing base has led to an over reliance on the financial services industry. The volatility of financial services is being felt primarily because it is neither understood sufficiently, nor regulated enough in order to tame it’s unpredictable nature. Let’s hope this costly mistake will be a constant reminder, that the US needs to overhaul how it does business in the broad sense of the word.
