Next decade? Toxic politics promises to make economic matters much worse than even today.
“The U.S. economy appears to be coming apart at the seams,” warned Columbia Professor Robert Lieberman earlier this year in “Foreign Affairs.”
Now, over at “Foreign Policy” magazine, Josh Rogin warns: “This Fight Ain’t Over: Think the debt ceiling gridlock was ugly? Congress is just getting warmed up. Here are eight more foreign-policy battles right around the corner” when they get back to sinking the economic recovery even deeper this fall.
All punctuated last week by S&P’s downgrade of the U.S. credit rating, as well as the one-day 513-point market drop into a double-dip recession.
Another “Foreign Policy” expert, James Taub, warns of what the “debt-ceiling deal tells us about the Tea Party’s grim vision of American power.”
A disaster ahead, Taub writes: “All Guns, No Butter … depleting the national treasury to pay for the military … when many Americans want to reduce the role of government at home and especially abroad, the debt deal just concluded is likely to preserve the country’s hypertrophied defense budget, at least if congressional Republicans get their way.”
And Mitch McConnell, the GOP’s Darth Vader, is doing just that, doubling down on his vow to make certain Obama is a one-term president, intentionally ignoring the collateral damage, killing economic recovery.
How? Ol’ Mitch is already sabotaging the new Congressional “Debt Super-Committee,” vowing to appoint only Republicans who have signed Grover Norquist’s “no new taxes” pledge.
Expect more deadlocks as economists warn that recovery is impossible without new revenues.
But it’s beyond toxic non-democratic pledges. America really is “coming apart at the seams.” Both parties: Dems for lack of strong leadership. The GOP and the Tea Party with their bizarre Shumpeterian conviction that destroying the economy is the only way to save America and pave the way for a revival of their anarchistic free market Reaganomics.
Political wars sabotage economy
Yes folks, our politicians really are out of control, utterly unable to manage the economy. They’re irrational, and worse, clueless and myopic in economics. No surprise the market crashed 513 points one day last week.
Nor that pundits are pointing to high tech multiples, warning of a new dot-com crash and double-dip recession. Warning of a collapse in commodities, in emerging markets and endless debt problems for Europe.
Warning, in short, that we’re headed into a perfect storm rivaling the disastrous political insanity of the 1930s that prolonged the depression, driving the economy into far reaching global problems that added fuel to an irrational zeitgeist and world war. And more.
No doubt in my mind, the decline is
total and irreversible,and,when it’s
over it will be a new world,but I would like to know,ask, Mr. Farrel
by what magical process does he come
up with a (decade) how do you time
the length of events? other than that
I’m in total agreement with him.
…And Mr. Farrell’s position is even more salient this morning; the day after the DOW tumbled again, but this time by almost 635 points!
Futures overnight have both dropped by 300 AND risen by 300. So, there’s more to come…
My hope is that Boehner (pronounced boner) becomes president in ’12 and opens the door to total anarchy.
Let’s stop pussy-footing around, and put an early end to this insanity.
Do you follow Derrick Jensen? He says bring down civilization now. There seems to be an invisible force working to do just that. What has truly amazed me since 1970, is how lonnnnnnnnng they have stretched this fiat money collapse out. At each turn there were fewer and fewer family farms and mom and pop grocery stores. The witnessing has been very painful for some of us struggling to “raise an army” like Tecumseh. The song should have been “How you gonna get them off of the farm when they weren’t impressed with Paris?” “Charlie’s Angels” kept the abusers dreaming of different wives and children until they all went out and bought the Big Screen, just so the violence after the Superbowl could be truly inflamed; otherwords, why do we allow ourselves to be beaten up when it is Uncle Sam who needs a “meeting?” Oh yes, I keep forgetting, a diet of Big Crap causes mental failure so many can no longer distinguish between “Uncle Sam” as a cartoon, and the other cartoon who’s change was very loose. We could say “It’s A Hard Rain’s A Gonna Fall.” Fukume, Fukuyoutwo.
The remake of the “Planet of the Apes” is worth seeing because I believe the machine of propaganda missed their own mark so we really have a beautiful piece of art metaphorically right to the point.
(I always do this>) http://wp.me/p6kf2-5V
What we are all going through is not just an economic crisis
brought on by disastrous political and economic decisions, but an evolutionary crisis. The evolution of humanity is a never ending quest to connect with one another, not to be destroyed by one another because we refuse to connect and wish only to control and force others to follow our ideological but disconnected agenda.
It appears we are on a path of very real financial as well as civilizational self destruction unless our direction changes. Will it change? I don’t know, but we are running out of choices.