How long have we been anticipating the impending commercial real estate market collapse - the other shoe dropping? Just because we’re not hearing about it does not mean it’s not happening (or has not already happened). The government-media complex is doing its best to paint rosy pictures for us in this, the “Summer of Recovery”.
It’s gotten so that bad news actually feels like a breath of fresh air - because it’s the truth. Our government has lost control of the economy. There are, of course, a whole host of other issues that have gone begging as well: foreign policy, for example. We are too timid to call it ‘intentional‘, preferring instead to put it down to ‘ineptitude‘.
Either way, it amounts to the same thing. We are hurting. Bush must have been some kind of genius to do all that: consign Democrats to minority status for innumerable election cycles yet to come. The laugher is that he (Bush) managed to beat the press at its own game. I’ve always wondered why he didn’t do more to defend himself when they attacked him so mercilessly. Now we know.
Posts
The nation is bankrupt. We are essentially mimicking the Japanese collapse in the late 80's and early 90's. The only difference is that the average Japanese household has/had? hundreds of thousands of dollars in savings in the bank. The average US household goes the opposite direction, 100K+ in debt, financed by foreigners. We are looking at an Argentinian and Greek style collapse very shortly, once foreigners figure out that the dollar is worth crock and the T-bills they are buying are worthless. Peter I enjoy reading your blog but honestly doesn't matter who's in office really. Fasten your seat belt. I'm telling all my friends and family that they should have at least 50-100K in cash sitting as reserve for what potentilly may happen very shortly. There is no "out" to this situation. Continued financing of the national debt will have to come from somewhere, presumably from high-net worth American citizens from what I see. It's going to get very ugly soon.
ReplyDeleteJon - Agreed. Traditionally these sorts of conundrums are solved by war. Wars are chaos. The money we have in the bank or under the mattress will not matter. We’ll have to discover a different way to survive. Principles such as dignity, honesty, beauty, kindness, respect, etc. cannot die. It is those we should be fighting to preserve, even if it means sacrificing our own lives.
ReplyDeleteJohn Bolton, it has been revealed today, says Israel has only a few days to hit Iran’s nuclear sites. I don’t doubt that war is possible. Under our current leadership, we’ll be drawn in and quite certain to lose. It’ll be rough sledding for a while. We’ll have to start over. I do believe that in the end we’ll get it right. All those first haircuts will have reason to be proud of us.