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We will not go back to the false economy and false middle class of the recent past.
I use the word--false-- because that is what it was !
Your wage didn't support your lifestyle, but your wage +a credit card did support whatever lifestyle you desired. When the credit card got maxed out, simply refinance your house and roll that credit card debt into the new loan. Repeat over and over.
I think ( hope) the next 10 years will see people living a lifestyle that correlates to their wage. If that happens, it will be much different than what we saw in the past.
Once people start living a lifestyle based solely on their wages, the economy will take a long time to improve and will never get back to where it was due to lower demand.
The positive is, it will be a " true economy", not a false economy .
Yes, I think Marmac has raised good points. We have been living in a false economy of irrational exuberance..now, once again, the piper has been paid. Many citizens lost half or a third of their savings--and their home values.
But those values were falsely inflated like bread dough that rose too high and now has punched back down into the pan. The air's been pummeled out of it.
Such a hard lesson for so many of us...we were led down the primrose path by the marketers and by Wall Street--and yes, I must admit, by our own very human emotions of greed.
Now reality has entered the picture. I hope we won't be misled again by having our flames of greed fanned again..have we learned a lesson? Hmmm...hard to say. Seems easy to manipulate us into wanting MORE and BIGGER and BETTER.
Anyone remember the old days of the VW advertising campaign 'Think Small'? http://reignofrarity.com/blog/wp-content/uploads/2009/10/VW_ThinkSmall.jpg (broken link)
How nostalgic. But maybe those days have come again...? They say what goes around comes around...
What i see happening in the coming decade will be a new major war, fought on U.S soil. Not an isolated "terrorist" attack type incident either i'm talking about a full large scale ground and pound type war on american soil for the first time in a long time. I can't distinguish between if it will be an internal conflict, like a second civil war or if it's provoked from outside nations leading to a larger scaled conflict. After this conflict is over i see a time of great and prolonged peace for the U.S at home and abroad. I see the war being large but the duration being short compared to past wars.
If someone, by design, chooses to exist on, say, $15,000 a year, that doesn't leave much for Uncle Sam's coffers. And what good are we if we aren't producing enough tax revenue?
It's not Uncle Sam you have to worry about - you won't have to pay him on that income. But your neighbors running the local school district? You'll be homeless after they squeeze your blood out.
Full recovery? We will a stable economy, but the housing market will still be recovering.
No recovery, things worse? Things will be better, People will be back at work. A much contracted economy? It will have slowed, but after the recovery it will grow just slower than before. A booming green economy? The green movement will continue to grow.
Life forever changed? I hope it has moved from the corporate greed period.I know many people are adjusting their lives, and if I remember the stories from my parents it will take generations to forget this recession.
U.S. now a third world economy? We will be shifting to an economy more like Europe’s.
Anarchy? Only in the far right wing groups, and it will be controlled.
Things better than ever? No, but better than in 2009. We're living small, driving small and growing more of our own food? I wish, I love home grown vegetables. We will drive with electric cars, and be greener but I don’t think we will drive fewer miles.
well, I guess the economy will continue to be seen as some kind of thing set apart from all the rest of Americana. The future will probably look a whole lot like the past two hundred years in which the populace was treated to a feast of lies and false hopes. That's what has been driving the economic surge that has brought us to the brink, we now will "go over" the edge financially, and we'll all end up in a world much like the one our grandparents thought was better than the meager life they had in Europe.
I suspect that the much touted "tea party patriots" will be those people who have listened to way too much right wing radio. We all know one or two of them, they wouldn't know who to hit without their "radio brain" targeting the "enemy" for them. This fact of the deep brainwashing of the proles has set up the US for some pretty awful scenarios, roving gangs,------you fill in here------politicians promise,-----you fill in----economist says-------. You get the picture. The media has been "embedded" in our midst since the economic meltdown, and like their loyal reporting of our governments "work" in the middle east, they will continue to give us non-news.
I'm guessing that this war will be continued in some form or another for the fact of it's surogate role as some kind of "industry", it hires and kills it's employees, it's also a great "relief valve" for the rest of society, a growth industry and social vacum sweeper, and definitly too big to fail. A lot of the resources and money that the war will demand will probably cause a lot of unrest on the home front, people won't be as supportive of the high command or the administration that serves wall street. The worst aspect of the next ten is that we will never have enough knowledge of the situation to be of much help, kept in the dark we'll just have to roll with the punches; And the new boss looks just like.................
I wonder if we'll ever wake up or have we been put to sleep with the new version of SOMA--all the mood elevators and tranquilizers we're prescribed--starting with little kids and continuing on. Is it 1984, all come true?
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