Hurtling toward economic chaos (Economies of U.S., Europe & China are on the edge of disaster)

Lest we forget, we also live in a globalized economy in which Americans are consumers of the last resort and the dollar is still the haven for the planet's hoarded surplus value. The new recession that the Republicans are engineering with such impunity will instantly put into doubt all three pillars of McWorld, each already shakier than generally imagined: American consumption, European stability and Chinese growth.

Across the Atlantic, the European Union is demonstrating that it is exclusively a union of big banks and mega-creditors, grimly determined to make the Greeks sell off the Parthenon and the Irish emigrate to Australia. One doesn't have to be a Keynesian to know that, should this happen, the winds will only blow colder thereafter.

China, of course, now holds up the world, but the question is: For how much longer? Officially, the People's Republic of China is in the midst of an epochal transition from an export-based economy to a consumer-based one. The ultimate goal of which is not only to turn the average Chinese into a suburban motorist but to break the perverse dependency that ties that country's growth to an American trade deficit Beijing must, in turn, finance to keep the yuan from appreciating.

Unfortunately for the Chinese, and possibly the world, that country's planned consumer boom is quickly morphing into a dangerous real estate bubble. China has caught the Dubai virus and now, every city there with more than 1 million inhabitants (at least 160 at last count) aspires to brand itself with a Rem Koolhaas skyscraper or a destination mega-mall. The result has been an orgy of overconstruction.

Despite the reassuring image of omniscient Beijing mandarins in cool control of the financial system, China actually seems to be functioning more like 160 iterations of "Boardwalk Empire,"

Sadly--

The U.S.A. is dominated by people who are lost in a paradigm of decadence, hubris, and self-destruction--and they are doing everything they can to drag the entire United States into this.

These are the people who call themselves "Liberals" but who are the opposite of liberal. They dominate Washington, the Democrat Party, the Mainstream News Media, universities, and the Leftist enclaves, such as New York and parts of California, which are Democrat Party strongholds.

They are intoxicated with hubris and denial--the very things of tragedy--and are addicted to a pathological self-congratulation and conviction that theirs is a "higher morality" than that of ordinary people and that they serve some "higher truth" than do ordinary people and that their mission is to lead the rest of us--by persuasion if possible--by force if necessary--into conformity with themselves.

In fact, they are the opposite of all that they believe themselves to be.

They cannot see truth if they try, so lost in the murkiness of groupthink, but they seldom even try.

Their hubris and their delusions are sending the U.S.A. down a slippery slope into a hell-hole--a tragedy of global proportions.

Whether or not the American people will wake up in time to save themselves and their children remains to be seen.

So, African Christian, do you agree with my assesments?

I don't know everything. I have to struggle for truth just like everybody does.

Fortunately--

Some of us are struggling for truth.

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