I've just been reading The Economic Collapse Blog, and I'm awestruck by how the writer (and so many others on the Internet) is able to produce so much and of such quality.
But I think he and others need to distinguish between a crisis and a disaster.
I'm told that the Chinese ideogram for "crisis" is a combination of two others, "threat" and "opportunity". America is in crisis - though not, perhaps, so much as we in the UK - yet I believe that the US has everything in its toolbox and larder to be a great society.
As I submitted to the piece linked above:
The US is still the world’s leader in per capita GDP when you exclude the tax havens and oil producers.
Speaking as someone who encouraged his brother to take American citizenship, I say you have a great future.
The problem you have – the source of many you list here – is excessive inequality, founded on unfair practices. But when America has cleaned out the pigsty of high-level corruption and mutual favouritism, she will find that she has an entrepreneurial population, abundant natural resources (e.g. an excellent population-arable land ratio), and a Constitution that will work just fine when you get back to it.
I am perceiving subtle signs that the bankers are backing off a little, and have possibly realized how bad the situation could become.
ReplyDeleteI should like to hear more about that, P.
ReplyDeleteThere is talk by them about
ReplyDeletea) Incresing taxes on the top earners
and
b) Re-issuing mortgages at the actual current value
amopng other things.