otseng wrote:
Zzyzx wrote:
It appears to me as though the entire structure of the US economy (and with it the society) is in deep trouble.
This does not indicate to me 'last days' -- except perhaps the sense of ending US dominance / leadership in world affairs. Throughout history nations have risen to prominence then declined to second-rate (or lower) status. We ride a roller coaster.
Yes, it's the last days for the US empire. We are so deep in debt and financial instability that the only recourse now is to put money printing in hyperdrive. The elite continue to grab more money and power while the rest of the country goes down the drain. Banana republic anyone?
I would ordinarily be more concerned about printing money this year, but inflation and interest rates have been relatively low the last ten years. And the U.S. remains a place where the world invests. Social Security is a forced savings system that has worked out well, despite the chronic complainers.
But the tremendous wealth inequality, world wide, is deeply troubling. Fortunately we have a mixed economy with a healthy dose of socialism, and the middle class is still well off despite the constant carping.
Our political system is damaged. The electoral college and court packing have given us a system that makes it too easy to have leadership that does not represent the majority, and has proved it can elected representatives that do not represent the majority. Then of course, we have a current president who is incompetent, selfish, and amoral, a man of incredible ignorance and corruption.
I'm not worried, as long as the November elections do a better job of reflecting majority values than they did in 2016.
Post Script:
ALWAYS bet against the 'last days' doomsayers. They've always been wrong. They've. been wrong for 200,000 years. Their rate of 'wrongness' is 100%.
AND, if for once they turn out to be right, you won't have to pay off.
