Is This Really The Way The Country Is Going?

[nevadan]

quote from daddyeaux:

yea... the country is going to shit

americans blew their savings and borrowed against their McMansions to buy all kinds of crap

the jig is up.....

Attachment: we-is-broke.png

Interesting graph. I was watching an interview on Bloomberg earlier this evening of the author of a new book titled Bad Money. Kevin Phillips, the author, had some rather startling things to say about the American economy and the rise of the financial industry compared to the decline of our manufacturing industry. He stated that Alan Greenspan's tenure at the Fed marked the beginning of the decline of manufacturing as a % of GDP and the ascension of the financials to approximately twice the current manufacturing base. Just for grins I went to Wikipedia and looked up G's term as fed chairman. Correlates quite well.

 

[blackchip]

LA's going to end up just like lots of cities and in South and Central America. Millions of barely literate peasants ruled by a small elite in guarded and gated compounds.

As they always do, the peasants will outbreed their resources, riot and then get crushed by the elite controlled police on a semi-regular basis.

By a combination of devaluing the $ and overbreeding the minimum wage will end up at third world subsistence levels.

Better make sure you're in the elite group.

Good times.

 

[daddyeaux]

Quote from nevadan:

quote from daddyeaux:

Interesting graph. I was watching an interview on Bloomberg earlier this evening of the author of a new book titled Bad Money. Kevin Phillips, the author, had some rather startling things to say about the American economy and the rise of the financial industry compared to the decline of our manufacturing industry. He stated that Alan Greenspan's tenure at the Fed marked the beginning of the decline of manufacturing as a % of GDP and the ascension of the financials to approximately twice the current manufacturing base. Just for grins I went to Wikipedia and looked up G's term as fed chairman. Correlates quite well.

fear not, the Fed. is printing money at astounding rates and flooding the system...

inflation (however the gov. measures it) will spike, how can it not...

i.e. $120 oil already...