redblueamerica.com

Listen to Kevin Phillips. He's a Conservative who got thrown out of the nest for not believing in Reagan enough.

He says;

"We're not just looking at an ordinary recession. Since the 1970s, the United States has redefined itself from a manufacturing nation to a financial economy built on debt, leverage, and a considerable ratio of speculation. Both political parties have been complicit in this, and the downturn now beginning will be unusual and potentially tragic"

The business class in America has declared "the worker" Private Enterprise Enemy Number One, and has done its best to outsource, downsize and automate any worker who had any craft knowledge whatsoever. And now we see what we get. Our consumer goods, our cars, even our Army's guns and uniforms are made overseas, where we can't control the quality and production. Marx had one thing right. Power is controlling the means of production. We don't do that any more.

The MBA class have covered up that gaping hole in our economy by floating bubble after bubble in tech stocks, Savings and loans, mergers and acquisitions, energy futures (enron) and recently in mortgages. Every time the margins are thinner, the bubbles are bigger, and the crashes harder. The middle class is hanging on by the skin of its teeth, and nowadays it takes four years of college and $80,000.00 worth of debt to even start out in life.

Recession? Hell no. We are into something with no name yet, typical of a decedent culture, plus peak oil, plus climate change, plus China, India, Russia, Brazil. And the way we are going to triumph is by starting wars with Arabs and cutting taxes on the wealthy?

Good luck with that.