Re: A funny state of the economy
I think the "childlike images" do a great job of enforcing the simpleton viewpoint. As for the facts, I just don't know enough about the US economy mechanics to comment. What I do know is, messages that even get close to "don't worry, things are starting to improve" are so far off the mark, it's untrue. My generation will survive this, but my kids generation will be blighted for decades. Job opportunities for my son & daughter have all but vanished, & I don't see that changing anytime soon.
As the western world economy bumps along the bottom for the next 10 years or so, the Eastern economies will move forward big time. By the time western economies are balanced again, they will no longer be the driving force of world economics. I don't have a problem with that. There is an inevitability about global financial wealth balancing, frankly, it's long overdue. In a few hundred years or so, I don't think there'll be individual country economies. Hopefully, by then, we'll have got over our possession orientated "I'm more equal than you" mentality. Trouble is, by then, we'll be so resource poor, population rich, we'll all be worse off.
Anyhow, many western economies have moved from producing stuff to consuming stuff, & non more so than the US. As Eastern economies move forward at a time of Western economy weakness, their economies will balance domestic consumption with Western fluctuation to ensure continued manufacturing growth. The only way forward for Western economies to keep with the program is to shift from consumption to production. There's only one Western economy that's well placed to do that right now, & that's Germany. Because the rest, & especially the US, are in no position to do that quickly, you'll see a resorting to protectionism. Via the back door at first, but eventually full on confrontation. If we reach that stage, all us hitherto cosseted western types will screw ourselves to the floor. The US will no longer be protecting the largest global domestic market. The Chinese, followed by India, followed by Europe, then the US will be the new order. So who do you think will be worse off by closing the import doors & driving their insular economy based on producing to domestic consumption?
Crap, I clearly have too much time on my hands!