Click on Any Chart Below to Engorge It

Tuesday, January 29, 2013

Deer Antler Spray for the U.S. Economy Needed?

"Historians who look back to our time will surely conclude that our problem was not that we didn't know where we were headed, it was that we didn't act on what we knew.

"Even before the financial crash of 2008-2009 and the Great Recession that followed, there was ample warning.  Whether you were a journalist who produced the news, a politician who made the news, or a citizen who read or watched the news, it was hard not to be aware that for the past thirty years, the following had been happening:

" - Most Americans had experienced stagnant real incomes, shrinking financial security, and fraying social safety nets.

" - The nation had been buying more from the rest of the world than it had been selling and was borrowing to finance the difference.

" - Despite the erosion of U.S. economic power, the governing class - Democrats and Republicans alike - insisted on maintaining its global hegemony, whatever the cost.

From The Servant Economy by Jeff Faux

No comments:

Post a Comment