Yep, that is what we Wooly's see, although through a mirror dimly.
Gone are the days of innovation and productivity keeping the USA at the forefront. Sure there are still a few companies that "make things" and are doggone good at it. Problem is there aren't enough of them left in the good old USA.
Software with Microsoft and Oracle. IBM, Apple, some Pharama...... but otherwise most things are made elsewhere. Is the US the King of Steel? Monsters of the Motorcar? Breadbasket of the World? Uh...... I don't think so anymore. Do we make the best value products that no one else can even begin to rival? Nah......... not really. Check out Wal-Mart's inventory and tell me how many things are "Made in the USA". Not quality, but cheap. Kind of like me. I'm short, but I'm slow.
Instead we have converted over to the "Slight of Hand" economy. Yep, we decided to base our (1)economic growth, (2) our tax base revenue, (3) our pension funding (4) our social security viability on a "consumer based economy". Maybe it would be more accurate to say on a "Stock Market Valuation" reality.
Stock Market does good = Economy on the Right Track
Stock Market goes south---Borrow from the future to "fix things".
We can shuck and jive all day long and say that Economic Stability relies on Banking Solvency, but just because we say it doesn't mean its so. We can shout from the Mountain tops that every American deserves to own a house and have Health Care provided to them regardless of cost, but it doesn't mean its so.
In fact, we can stand on any corner atop a Soap Box and promise the Keys to the Kingdom or possibly Equality for One and All. However without financial and ethically based actions to fuel those dreams, we will remain in this downward spiral. Our leaders have left us destitute and wanting. Yes, wanting for a Moral Compass that no longer exists in our Financial and Political Realm. Not Democratic, Republican or Independent. It is across the Board. What society deems it appropriate to lavish those already with plenty to the detriment of those who work hard but have just enough to get by? Especially if it is dishonest and completely insane.
Does it not strike everything that is good and decent in us to revolt when money that is accumulated by our representatives, goes to rescue scoundrels with evil selfish intentions that have been caught in their own quicksand? And yet after rescue, they take the best of the herd. They take the cream from the top. They disdain and spit upon those who have never taken from a soul. In fact many languish near poverty and ruin because of those repulsive actions of our financial geniuses.
Such has been the precursor of every Fall of Empires gone by. It matters not whether is was Greek, Roman, Asian or European. It now falls to us. Our leaders in the Financial and Political Realms have taken our best efforts and then left us out in the Blizzard.
Anyone who reelects a single representative who voted for TARP, and Bailouts of any kind gets exactly what they deserve. Our Country will not survive this on our current path. We could have if we had treated those who betrayed us so mightily as they should have been treated, but there were too many already in bed together to expect any other result.
Wooly.............. Who thinks all Banks should be Nationalized and every JP Morgan, Goldman Sachs like institution eliminated. Revolt is coming.............. I have little doubt..............Calvinball Economics®TM©