Posted on 05/06/2009 1:18:52 PM PDT by FromLori
Since the economy began sliding downhill in late 2007, mainstream economic and market experts have consistently erred on the sunny side.
As late as June 2008, mainstream consensus held that the U.S. was heading for a “soft landing” and would avoid recession. Several months later, the slump was acknowledged to have started in January 2008, but we were supposed to see renewed growth by mid-2009, with unemployment peaking in the eight-to-nine percent range. A quick “shovel-ready” stimulus bag was supposed to set us back on the road to prosperity.
In January, recovery projections were pushed forward to late 2009. Today, the consensus is for a mid-2010 recovery, with unemployment peaking at just over 10 percent. Clearly, the mainstream has struggled to catch up to reality for well over one year. What are the chances that they finally have it right this time?
Moreover, the mainstream continues to see what is going on as a plain-vanilla recession that will be quelled with some on-the-fly monetary and fiscal tinkering. Washington, we are told, will pull us out of this slump—as soon as the masses can be enticed back to the shopping malls. Then things will return to how they were before. But what if the experts and politicians are wrong not only on their ever-changing recovery timeline, but also on the nature—nay, the very existence—of a recovery?
America’s reigning political-economic ideology has demonstrably failed. Given that its government is obviously fumbling along without a clue, its foreign and domestic credit is tapped out, and its 300 million people are discovering that their hopes for continuous material improvement will never be met, could the U.S. be headed the way of the USSR?
(Excerpt) Read more at seekingalpha.com ...
Someone has to say it? It’s said every day (usually by you) right here on FreeRepublic.
NO; The USSR don’t have Government made CHEVYS.
Zombie Apocalypse?
Not that I'm hoping, or anything.
“could the U.S. be headed the way of the USSR?”
For slightly more than half the country, that’s the BEST possible outcome.
Absolutely, if our ignorant, deceitful, greedy and stupid so called "president" has his way.
...Zimbabwe maybe...
Thankfully I still have my Handbook for the coming Zombie Takeover...
Everytime I see this photo, I lay down on my bed and wear my white tennis shoes, but nothing happens.
Great essay. It sounds like the scenario in my new book.
Continuous? Never?
That's because you need BLACK tennis shoes.
“World War Z”
by Max Brooks
Same guy who wrote the survival guide.
Lot’s of good zombie killing info!
now you tell me. I hope it’s not too late.
Yes, that is good!
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