This is the end game to the market for which they tried hard for 30-40 years to create.

Dems didn’t want this. They only went along since most dems are republican lite. Oh we can’t get elected, so we take moderate republicans and run them as democrats.

If anyone thinks that a repub congress can fix this then I have some beachfront property in Arizona.

Sorry, their answer is more tax cuts, more deregulation.

What got us here, the fed, tax cuts, needless wars, deregulation

What are those? All republican tenants

Rich/supply side economists = the fed = republicans
tax cuts = republican mainstay
needless wars = republicans
deregulation = republicans

You want out of this mess, simple throw to the ground the republican tenants above. But that’s not what got us here. What got us here is simple. LOW WAGES

If you make 10 bucks and hour, guess what, you are making less than 2/5 of what the minimum wage was during the depression. Which means if you make 25/hr you are working for depression level minimum wage.

Gee I wonder why everyone has to take out credit. Because we don’t pay our workers. There used to be a car industry just fine without having to finance the cars they made. But now that no one can afford anything, credit is the lifeblood of gm/ford/ ALL car manufacturers. Guess what gm/chrysler might go under. This keeps up ford/honda/toyota won’t be far behind.

Want out? Pay your workers. Simple as that. Of course it’s tough because the income disparity MUST come down to do this. So rich people took too much of the pie and everything is crashing around us. Nice. But they’ll screw themselves into middle class, and sacrifice us the whole way down.

Make no mistake, had the repubs never got control of congress, and there was no reagan revolution (reagan who TRIPLED our national debt….reagan/bush/ w. bush who as fiscal conservatives only created 90 percent of the national debt (in 3 presidents) leaving Obama with nothing but crises after crises.

The sad thing is the republican cancer has become so persuasive, it has also infected the democrats. Not as big, not as apparent. But those ‘wall street’ guys working for Obama, yeah, a bunch of republicans trying to solve the republican mess. Meanwhile the repubs you want to take over have no clue how to even change a diaper, or talk and chew gum, let alone do anything more than tank the economy as a whole.

Final thought. In the last ~125 years, did you know, that as EVERY republican president left office, he’s left office in a recession.

Why? Because rich people with money, somehow think they KNOW money. Instead, because they buy 10 dollar water, and 50 dollar appetizers, it is akin to an American idol contestant who thinks their all that, but leave the panel reeling with laughter at how bad they are. Don’t believe me, just look at the economy they created.

I do think the author is right in what is probably going to happen. Just like iceland we have tons of people who made huge riches that didn’t really do anything. In the end the rich people will wonder why they aren’t rich anymore. It’s simple, because they didn’t take care of it. You let the other rich people ruin your wealth. That’s the so-called free market. (actually a heavily rigged market under the guise of being free). Our wealth will start to evaporate, and our dollar will be worth very little. But then again inflation has been 12 percent since father bush was president. Only hedonics and a couple of other different metrics lied to us and say it’s 2-3 percent. Nope it wasn’t. Overall this is what we get when we take our eyes off the prize and our concerned with only money in zero sum terms. Money is great, the markets can be great, trading stock and stuff is fine, but when all of these things come above everything else, in short order everything turns in on itself. Welcome to the ‘turning in on itself’. Poor people getting shafted for decades, now we get to watch the rich squirm. Again, you guys brought us here, so no one to blame but yourselves. That sort of tough love truly is an american ideal. Because you can get rich, or go broke. Well after slanting everything your way, it broke, and now you will too.

Amazing though, if we just kept a decent living wage, and paid our workers what they deserved, odds are we never would have gotten here. We wouldn’t have china breathing down our necks. Also since rich people always do well when everyone does well, guess what, rich people would have made out fine. But they got greedy, and will now probably lose most of it all. I won’t cry for them, because they didn’t care when the poor was crying. What comes around goes around, and it now is. If you want out, start paying your workers to be able to BUY the goods you sell. TO be ABLE to buy AMERICAN and not just the cheapest chinese good from Wal*Mart. We had it all, and the greed cats slowly took it all away from us. While people look down and scream at welfare, the REAL looting came from the top. Get your priorities in order, and we can fix this, but be prepared to drop some big time republican ideals, as they aren’t AMERICAN. (or even from sound human mind…most revolve around greed, me and mine, etc) American isn’t about ME AND MINE, it’s about US. When we take care of US, ME AND MINE will be FINE. When we take care of ME AND MINE (for decades and an entire political party loses it’s ideals to embrace the ME AND MINE) then all of US get screwed like we just have been, and will continue to be. Trickle down economics never worked, all the money got dammed up at the top. Sure hope you were never waiting on it.

Repubilcan’s can re-take congress? For what, more of the past 40 years of reganomics that was the death knell for this country? Outsource, deregulation, tax cuts for the wealthy. Sorry to say reagan wasn’t nearly as good as advertised, and in the end, his policies (with his name attached) will go down in history as some of the looniest economic policies that were ever dreamed up. I understand the author’s frustration, but I do not in any way understand the solution. Does this guy really want Boehner up there leading the way in the house? Jesus I wouldn’t buy a car from this guy. I wouldn’t trust the stock he sold me. If he was my insurance agent, I’d be on the phone to GEICO asking for some more coverage because I know this guy couldn’t sell me a legit policy.

Trust me when I say this. As bad as Washington is right now. It’s only hope are the Dems. Because as infected as they are with republican economic ideas, enough remains independent that they won’t bend over backwards for the powers that be. If they figure it out, they are the ONLY ones to lead, because they’ll have the balls to do it. Exactly why the democrat party doesn’t have talking points, or march in lockstep, and never suffer from groupthink, is why they’ll be able to turn this around. But hey I’m 30 years old, I don’t expect this problem solved until my 40′s. You shouldn’t either. That’ IS the best case scenario, and you don’t want to know the worst.

Gold – it is silly and historically ignorant to talk of gold as some “standard”. It is just as much of a fiat currency as any dollar ever printed. Gold is not so easy a solution and indeed does require a “trust” and “special expertise” to own, that is — guns and a strong military, which is why the Spanish Armada Navy-Army was purely in the gold business from the discovery of the Americas until booted out by South American locals.

If you are not a part of the solution, your are part of the problem.

And hello, Hilmar!

Native population in credit-using/abusing (developed) countries is decreasing while it is the poorer countries where it is increasing. Only immigration is keeping New and Old world countrys’ population growing at any appreciable rate. It is only the poor in the developing countries who are experiencing a rapid population increase. This would imply that using credit makes the population decline and not using credit makes it grow. This is at least a coherent argument, but in both cases there is still no cause-effect demonstrated.

In any case, the main point is that overpopulation as a problem is a complete chimera just as it has been when radicals started screaming about it in the 60s. It is clear that wealthy societies populations’ peak and then decrease over time without intervention or calamity being the cause. It is already happening. As the world gets wealthier, population will go down on its own accord. In fifty years the radicals will be screaming for laws to make people have more children. Lets focus on the real problems. Too many people isn’t one of them. Cheers all!!