Factory output is slowing in China. Europe is still struggling with debts in Greece, Spain, and Ireland. And now the United States is adding a lot fewer jobs than needed. And, as it turns out, American companies have in the past few months added even fewer jobs than the Department of Labor originally thought. According to the …
Junkie unwell? Great Doctor Keynes orders more Heroin!
"Factory output is slowing in China. Europe is still struggling with debts in Greece, Spain, and Ireland. And now the United States is adding a lot fewer jobs than needed."
And most of these are government-sponsored. Oh woe.
Meanwhile, if you think it's over or looking up, the junkie economy is currently so junked up that its head is bound to explode like a pez dispenser any minute now:
"We are looking at another economic bust but, given the size of this building monetary boom, a bust with a real possibility of surpassing anything we have seen in the recent past. Yes, even the housing boom turned bust turned Great Recession."
Yes we have a real economic depression
...and we have had it for over 4 years. It's about time the talking heads stop getting paid for dribble and the world decides to actually address the fiscal irresponsibility that has been perpetuated for decades.
The futures that never happen
I'm a complete financial dolt, but it does seem obvious that the global economy lives in the future, in terms of "what may come to pass"
The bulk of the money changing hands doesn't actually exist - it's based on future output, debt repayment and fairy dust.
There's obvious logic here. An analogy - the farmer, with his growing crop - he's banking on a future where that crop succeeds. In a logical economy, he would be paid based on the success of that crop.
The problem with our current economy, is he gets paid before his crop has even been planted - on the promise that it will be a good crop. That money doesn't exist yet, but if his crop does fail, he still has the borrowed money. There's now a hole where money should've been.
As with anything, someone has to hold the parcel when the music stops and as history teaches us, it's the common man who had no real hand in the entire sorry process who suffers.
The global economy, as far as I can see it, is a feudal one. Replace land owners with bankers and the nett result is the same - the majority end up in servitude to the banks, indebted up to their eyeballs.
If you don't pay, you get your possessions taken off you, your roof removed from over your head.
The rich do indeed get richer - and fewer.
Something, at some point, is going to give and the whole cycle will just repeat itself all over again - we never learn.
Re: The futures that never happen
'If you don't pay, you get your possessions taken off you, your roof removed from over your head'
Umm, if you're indebted to the banks they aren't 'your' posessions.
I do agree but the financial markets aren't just about trading futures though, that's been around for many years, (it's still a problem) but at least 'futures', in theory, have a real product somewhere down the line, it's a fairly simple gamble, the main issue was the market investing in itself and inflating its own worth as a result, the 'fairy dust' you talk of.
It is, in essence, a massive Ponzi scheme played with debt and the loser is the one left with the most debt on their hands.
A cynical person could see it as a massive land grab, you sell property to me, I borrow money to buy it, the banks cause a huge crash, I can't afford the payments, the banks take posession of the property to sell again. Look who won.
Health Care in the USA..
Health care is one of the KEY polemics in the USA. The president got a package passed in 2008 that is just-starting to take full effect. The hospitals needed YEARS of preparations if they were going to comply, so they invested in new clinical/information mechanisms.
The polemic derives from the issue of governmental role in individual health care.
Some believe in the laws-passed, some believe that the Supreme court should nullify it.
This issue is VERY different than even Canada, let alone Europe.
Sorry, Obamacare was passed in March 2010...
I wrote the 2008 and then forgot to check it.