Tuesday, January 24, 2012

US Economy 101 ::: Your Little World Will Soon Be Turned Upside Down

How goes the state of the union? I wonder...

Well, as pointed out so eloquently by New York Times columnist Paul Krugman, the state of the economy remains terrible. Three years after President Obama’s inauguration and two and a half years since the official end of the recession, unemployment remains painfully high. Under Obama, prices of essentials have skyrocketed: gasoline is up a whopping 83 Percent, hamburger 24 Percent, and Bacon 22 Percent!

That's foul, I tell you!

“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” George Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”

Soros sympathizes with the Occupy movement, which articulates a widespread disillusionment with capitalism that he shares. Soros warns that riots on the streets of American cities are inevitable. “Yes, yes, yes,” he says, almost gleefully. The response to the unrest could be more damaging than the violence itself. “It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.” Uh-oh!

The Press is also a target.

Is it too late to do anything about all of this?
"Waiting for tomorrow waste of today." Charlie Chan in Egypt (1935)

Tags: ,
Show Comments: OR

No comments:

Post a Comment

Per comment rate: $2
Payable by either clicking the BitCoin "tip me" button or the PayPal "donate" button in the sidebar.

Because, like the fine publication Tablet, whom I borrowed this concept from, I too am committed to bringing you the best, smartest, most enlightening and entertaining reporting and writing I'm able to provide, all free of charge. I take pride in my loyal readership, and I'm thrilled that you choose to engage with me in a way that is both thoughtful and thought-provoking. But the Internet, for all of its wonders, poses challenges to civilized and constructive discussion, allowing vocal—and, often, anonymous—minorities to drag it down with invective (and worse).

I'm asking people who'd like to post comments on my blog to pay a nominal fee—less a paywall than a gesture of your own commitment to the cause of great conversation. All proceeds go to helping me bring you the provocative and/or entertaining articles that brought you here in the first place.

Readers can still interact with me FREE of charge via Facebook comments and Google+ comments! You can also reach me via Twitter @davelucas

I hope this new largely symbolic measure will help create a more pleasant and cultivated environment for all! Those of you who choose to contribute, thanks for your support.


Your comment will appear after you have made your donation.

All IP addresses are logged.

Your comment will not appear immediately as all messages are vetted before publication.

PS - Any more questions? Check out my Policy & Terms of Use FAQ!

Related Posts Plugin for WordPress, Blogger...
Web Analytics