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There is a man who loves his bubble. He teaches a course called Delusional 101.
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What we will realize for the umpteenth time is that Republicans have no understanding of how to make things better. They only know how to destroy and take apart all that is good and functioning. They can win elections but are unable to govern. They appear to have bad intent and only care about how much they can miserly accumulate. The next two years will be interesting, since The Obamadier has gotten on their "Neoconclastic" hobby horse.
Toggle Commented Jan 8, 2011 on Paul Krugman: The Texas Omen at Economist's View
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James, Americans are not ready for your perspectives. They were too busy spending money they don't have during the May Graduateathon that our high schoolers and college graduates just had. The family debtathon continues. These graduates will be competing for jobs that are disappearing. I wish them good luck. Will they go into bankruptcy to eliminate their college loans? Their degrees will not help them, I am sad to say. The electric hybrid would save fuel. That is clear, but no one is out there buying new hybrid, or non-hybrid cars. They just cannot afford it. The Aptera is fully electric and GM should have taken that on, but no. Off to China to build more of the same but tweaked a bit for better mileage. We don't need lithium batteries, but simple ones. If a small gas powered generator was installed into and electric car, that generator would kick on to charge the batteries, when not plugged in. I believe the Aptera is heading that way, too.
James, you said, "To take it a step further, can we remain one nation, a common culture, without such a conscious re-purposing of our collective spirit?" I don't believe we can remain one nation unless we collectively make a purposeful paradigm shift, but, sadly, I believe many Americans are very removed from the dire reality of things today. Just watch Leno street interviews of everyday people. They are sadly functionally illiterate. Eventually, there will be angry people in the streets. There will likely be Watts Revisited all around the nation. Murder-suicides as families fall apart. Obama and Team are far removed from reality. He gives the good speech about Chrysler workers needing to engage in the "shared sacrifice" while Wall Street bankstas were exempt from that sacrifice. It is only a matter of time before it all falls down.
James, I thought your last line could have been the title--Sleep Walking Into The Future. In a way, that might be true, but in my own mind, I do believe that this entire script has been written by the Wall Street Financial Crime Syndicate. It has been their entire motivation to abandon the real economy and all the Americans that it constitutes, in favor of transferring the bootie of the nation's treasury and Fed into the hands of those at the top of the wage scale ladder. This government, as well as the last several, have been transferring wealth to those at the top. Now, as the nation collapses, and the banking failures are only 2/3rds toward the bottom, they have been making sure that their losses are padded even though the taxpayer is losing their cushions. It is all about eroding wages even further. More unemployment is on its way. The collapse continues--sleepwalking into the future.
James, you hit the issues squarely where they needed to be hit. Credit as we know it is over. Consumers will spend far less forever. The days of 72% of GDP is dead. Car sprees are over. Dealerships will fold. Inventories will continue to sit on manufacturer's massive storage lots for a long time, therefore production will continue to slow, and more layoffs are in store for the industry. The suburban expansion is dead, too. and all that goes along with it, such as furnishings. Wages--you forgot to talk about wages---wages will remain stagnant. Retirement dreams have turned into nightmare. Many will continue to work and hold onto their jobs, therefore, new graduates will drive cabs, and work as landscaper assistants. Food and especially clean water will be an issue in the west. Obama is on the wrong track. He has failed to address the real way to begin repairing America, and that is from the bottom up and not a Reagan style top down banksta recovery.
Toggle Commented May 4, 2009 on The Bottom at Clusterfuck Nation by Jim Kunstler