Posted by
Egon on Tuesday, October 07, 2008 12:00:00 AM
Our main problem is that we don't produce wealth anymore. Brazil, India and China plus assorted smaller countries like Singapore do.
These countries have been capitalizing on our lazyness by promoting friendlier business environments while we have been promoting hostile business environments.
We have taxed our businesses way beyond reasonable and added insult to injury by excessive overregulation in phony "environmental", fiscal, "safety" and a myriad of other petty bureaucratic meddling which is extremely costly. Most of the bureaucratic meddling in fact, has more to do to justify bureaucrat's jobs or expanding them.
There are more Government employees today than actually tax paying productive people.
Of course this couldn't last. We have been living off of past credibility and glory.
The poor uneducated virtual idiots are so great in number that they might actually vote for a charlatan-pink-thug like Obama, an opportunistic evil man.
The numnuts media who are so enamored of him will soon discover that they are the first to be discarded in a Marxist controled state.
In fact, he'd be the last straw as most of our institutions are socialist to some degree.
When the Chinese are really mad at you they wish that you live in "interesting times"...well, we will, for sure.
So, while countries like Brazil, India and China will be experiencing continued prosperity, we will be living through major political and economical upheaval during the next few years, perhaps a decade even or more.
States like California, after years of liberal management, is bankrupt financially, economically, morally and spiritually, with a credit rating akin to that of Bolivia. Yet people still vote for even more of the poison that destroyed them. They deserve what is coming to them.
With an Obama administration you will see price controls, resulting in goods disappearing from the shelves and runaway inflation. We will even have to import most of our food (if they will take our money for it) from places like Brazil and Central America.