The Mudcat Café TM
Thread #102499   Message #2180532
Posted By: Stringsinger
27-Oct-07 - 01:56 PM
Thread Name: BS: Crash of U.S. Economy
Subject: RE: BS: Crash of U.S. Economy
Amos says:
"If such chains do develop, we will face a depression, and will have to grind our way out of it; and when that occurs we will be able to trace it back to Bush 1, Bush 2 and Pops Regan, IMHO."

We are headed toward a depression because there is no disposable income for most
working people. The corporations can't survive without support from US economy. They may survive through outsourcing and off-shore banking but that doesn't affect how the US economy will deal with the unreported poverty level of the average American. These multi-nationals will eventually have to answer to disgruntled American workers. Boycotts, strikes and unrest as the economy goes down will be the order of the day. (Hello 1932).

The government will have to be drawn into a standstill economically before changes can
occur as in the New Deal. If the US continues as a dictatorship, there will be a kind of
revolution (hopefully non-violent) in this country. We have too many "good Germans" already. Some of them might wake up and find out that prosperity is not around the corner.

When industry is out-sourced, debt relief is not in sight, jobs become low-paying service instead of better-paid industrial work, CEO's are taking home too much pay and retirement benefits, this is a prescription for economic disaster. The housing bubble has exploded. Most Americans are living on borrowed credit as is the country as well.

The CAFTA, NAFTA, WTO and other disastrous so-called "free trade" agreements will be supported up to a point. Then Americans will realize that they've been had. The only solution I see is another FDR or Teddy Roosevelt to disempower the corporations.

Russia is a primary example of the kind of disaster capitalism that could infect the US if it hasn't already. Naomi Klein illustrates this well.

The question that Naomi Wolf presents is that will an American dicatorship attempt to shore up a failing economy like was done in 20's Berlin. Can we be saying "Heil Bush"?

A lot will depend on the status of the American shrinking middle class. What happens when the gigs aren't there?

Greenspan is one of Naomi Klein's "Milton Friedman Chicago boys". His outmoded
view of "trickle-down" hasn't worked but he hangs on ideologically to a sinking ship.
It's not that different from the "Social Darwinism" of the 1920's.   It's a mistaken notion that the "market corrects itself" and that human lives ultimately benefit from this dogma.
It hasn't worked and it will lead to a depression or dictatorship.

Bush and Cheney may have the idea that a war would pull the US out of a failing economy.
Many conservatives mistakenly think that this is what took place when FDR gained office.
This is a strongly debatable point. There is sufficient data to support the idea that
FDR put policies in motion to pull the country out of the Depression prior to WWII but try telling that to today's war-mongers.

Frank