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I don't believe anything is genuinely permanent or inevitable. However, the signs aren't looking too good right now. If we begin to see the kind of structural unemployment Europe has dealt with post WWII you're going to see massive changes in this country socially, economically, philsophically, etc.
Western Society in general is slowly decaying due to a overdose of narcissism, nhilism, and decadence. Asia and eventually Africa are the future. I don't think the flame of freedom or hope completely extingushes, but it does move. I think it's clear that it's beginning to move away from the US (and has utterly abandonded Europe) and towards new worlds.
One thing to keep in mind in all this is you can fool people but you can't fool math. 1+10=2 doesn't work no matter how much you want it too. America's military and domestic spending jugganout(sp) has kept alot of the rest of the first world afloat. As we begin to wind down, alot of the snarky Euros on this board will find themselves very unpleasently surprised.
The projections i ahve seen are for a avage of 3.5% growth thru 2040. hat nets the projection of 1.5% for europe and japan. Highest projections are for china;india and sotuh america.Other say the deficit will keep growth flat for some time like the ten years in japan after their market crash.We will know when the fed quits injecting liquidity into the economy and raises interest rates.Then we willsee.
I agree the math doesn't work. Media control and misinformation are the only thing keeping the country afloat. The jobs continue to exit the country, 1/2 a million more unemployed every week, more investors shifting to commodities which in turn pushes the prices higher on main st...it's a viscous circle.
The situation is weak on too many fronts, the fed missed their chance to raise rates and correct inflation in 2005. The only way out now is really to let it fail. Re-value our homes and currency back to the 1980's to the put american labor back in action. Put a 30% tariff on all that low quality landfill bound poisoned crap we keep getting from China.
If this doesn't happen we are going to keep going downhill as a nation until enough people have lost everything...where they will stand up and make it happen.
Like in "Titanic", they can keep everyone calm and keep the brandy flowing, but 5 compartments are breached and it's a mathmatical certainty that she's going down. In the meantime keep your heads above water...
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