Our foreign creditors aren't going for it this time around. Remember, this isn't business as usual. Don't get hung up on, "It has always worked out in the past." We were formerly the creditor nation, now we're the debtor. We're sittin' on the outside of the banker's desk this time around. The rules have changed.
To make matters worse, once the whole foreseeable housing mess totally manifests itself in this already strained economic mirage, the massive employment that building created, will tumble. As will the supporting infrastructure including commercial retail. There is just no other way, not with our current system.
"What about building more houses?" There presently exists the largest inventory of unsold homes on the market, in history. Loan standards have risen, which eliminates thousands of broke Americans from applying. Manufacturing jobs are being lost to foreign countries daily and there are physical limits to the number of people who can afford a new home. This is another eye opener to the "Build it and they will come" crowd. We cannot expand our way out of this mess.
"So now what?" My opinion? We are about to enter the period where the financial pain becomes so intense, as to trigger the absolute worst scenario; we will be forced to face reality. Not a pretty place to visit I might add. Legions of our present and past leaders have brought us to an economic impasse that has no pleasant way out.
The next time someone suggests that the ideas of Congressman Ron Paul are radical; compare them with the direction of our recent past and present leaders. I'm talking both sides of the aisle here. Pull together, drop your senseless party line arguments, we can fight about those once we save Middle America.
We've drifted a long way off the path; now it's time to go home.
Drastic thoughts? Not really, just plain old math and common sense. I'll leave you with this; penetrating so many secrets, we cease to believe in the unknowable. But there it sits nevertheless, calmly licking its chops."─ H.L. Menchen (1880 - 1956)
Wake up Middle America, while the back door is still open.
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