The United States economy no longer produces new wealth. It has not for decades. A Capitalist system is predicated on the production of new wealth. If you look at what has been happening for the last twenty years in the US economy, you will see increasingly desperate attempts to tap the residual wealth and repackage it as new wealth. The Savings and Loan crisis, junk bonds, endless rounds of mergers and acquisitions and now the real estate bubble and sub prime loan fiasco, all have been tools to suck dry the wealth within the structure of our society and to use that wealth to fuel the engine of the economy.
You can only suck something dry until it's dry, then it's done.
1 comment:
got that right. and one of the things that really chaps my ass about this is that those greedy money grubbing asshats are now trying to get the federal govt. to bail their asses out. those big corporations that made obscene amounts of money tapping into the american dream are now crying to their friends on the hill. they've somehow convinced the purse string holders that if those companies bite the dust, the whole country will be thrown into a depression. free market forces be damned, let's bail out our campaign money sources before our contributions dry up.
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