Home | About | Donate

An Economy in the Fast Lane – With No Brakes


#1

An Economy in the Fast Lane – With No Brakes

Richard Eskow

Donald Trump has been bragging about the economy a lot lately. He says the United States is now the “economic envy” of the world. Unfortunately, Trump is once again trying to reshape reality to fit his own delusions. Reality is refusing to cooperate.

It’s true the U.S. economy is in the fast lane, by some measures, just as it was in the final years of Barack Obama’s presidency. But where, exactly, is it headed?

And what will happen when the next blowout comes, as it inevitably will?


#2

Invest in RFTR (Recipes for the Rich). Sauce options include Bankster Remoulade and Politician Alfredo.


#3

The government injection of stimulus is now primarily military spending and war.

That’s your bipartisan jobs program.


#4

“When the next recession hits, the working people of the United States will pay the steepest price.”

Someone tell me when we’ve had a recession or depression, that the working class didn’t pay the steepest price.
They are both a tool that rich investors use to fleece the middle class and poor.
According to John Hussman, a former economics professor and now the president of Hussman Investment Trust, we can expect a stock market decline of 60% when it falls in the near future. That’s 10% more that 2007, and Hossman has been spot on since 2000 with his predictions.


#5

Wealth redistribution is the important issue. The other issue is who will redistribute it, politicians or the people?

Direct Democracy


#6

The US deficit of a percentage of GDP is set to hit 4.2 percent. Interest rates are climbing meaning Interest payments to finance that debt goes UP. This all adds to economic activity and that GDP growth.

The Growth is fueled by Debt.

Now in a world where a Government truly in charge of the money supply that debt fueled growth not necessarily a bad thing , but this not how the system is set up. The system ensures that those profiting most off that DEBT and the growth ARE the 1 percent meaning it a win win for them. The poor will see Social program spending cut even as inflation and higher interest rates eat away at their disposable income , meaning for them it a lose lose situation.


#7

Richard, IMHO elections as they are currently controlled by both major parties and Big Money will never bring the kind of change desperately needed in today’s world. We have silently allowed the war machine, the fossil fuel industry, corporate agriculture with its massive use of deathly chemicals and single crop use of huge tracts of land and the decimation of nature’s habitat, the complete destruction of the waterways of the world to include lakes and underground reservoirs is currently underway including the annihilation of ocean species from the the very bottom of the natural food chain to the top due to overfishing, climate change and its continuing acidification due to the ever increasing absorption of CO2 from human’s overuse of fossil fuels. Electing a progressive candidate here and there will accomplish nothing as the MSM will never allow their wisdom to get outside of a committee room and the great majority of ruffins who permeate the halls of “our” government with the stench of revolving door wealth will also never allow some new progressive member of government to monkey wrench the successful ongoing robbery of the world’s wealth by the modern day robber barons. Elections under the guise of a false democracy due but one thing and that is to keep the lid on the pressure cooker under the false pretense of “HOPE” that with a new election things will surely CHANGE. Read your history. Aside from legalizing a woman’s right to vote and ditto with humanizing people of color with that same right (remember giving those rights to vote in what is in reality a fixed “game” anyway, in actuality does what?) merely kept order in a lot of very angry, pissed off women and relieved a lot of strain from the system which was beginning to feel the wrath of many a white person’s guilt. Yes, Richard our economic and environmental systems have been hijacked by a loose conspiracy of a very small percentage of rich and powerful gobs of flesh that will continue to hold the masses in servitude so long as the same old tactics are used to break our chains. We do not have time to expect elections to change one damn thing.


#8

Gotta love that fat cat back fat…


#9

What is your advice about what to do? Nothing? Armed rebellion?


#10

So here, Richard Eskow opens up the problem cannibal capitalists operate in. They devour each other in mergers and acquisitions as Earth begins to be a source of friction instead of a free lunch. The price of entry into almost any enterprise is skyrocketing.

Capitalism requires growth and if everyone lived like the US, the world economy would require five Earths. Some say more and some say less. It doesn’t much matter. Earth is already stressed.

A green economic new deal supports a rational economy that provides for quality of life. A green economy does not require infinite growth on a finite planet. A green economy provides health care insurance, shelter, sanitation, education, adequate diet, and way more fun.


#11

Some of what to do is occurring right here on CD and right now. Hopefully, our conversations and passions on this site and several others on which I participate will slip through the cracks and make their way through to the powers that be. I trust that they will see that the pressure is building for a serious reconstruction of leadership and political philosophy. The billions of people in the world who are currently being controlled by a few thousand plutocrats and their minions will soon become more aware that all life on Eart is being selfishly compromised by these few thousand. We are being compromised in two significant areas: leadership and greedy hegemonic desires; or, climate disaster coming from a lack of leadership, and/or nuclear catastrophe coming from an insane hegemonic drive for complete power and control over the Earth’s ever shrinking and compromised resources. Where this ends only history will record (if that ability will exist); but, if recorded history is any predictor, some tremendous disaster lurks just over the horizon. Will billions of people just sit calmly by and watch their lives be destroyed?


#12

That’s a good question. So far many have just sat calmly by. Of course, the greatest liars in the world are paid handsomely to convince them to do just that.