Anyone else get the feeling that we may witness the collapse of the American Empire in our lifetime? The Soviet Union collapsed, why can't America? During the last civil war we witnessed two competing economic systems in one U.S.A.: slavery and capitalism. When that hybrid economy broke down, the union ended (at least temporarily).
Now we're witnessing a hybrid Marxist/capitalist bohemoth on wall street run amok with the U.S. economy. Meanwhile China quietly holds a quarter of our foreign debt and enjoys a huge trade surplus with the U.S. as U.S. demand provides markets for Chinese manufactures. Wall street corporations then outsource American manufacturing and american jobs to cheap for cheap Chinese labor and wall street banks pour investment reserves offshores into foreign investment.
And when this system of gradually dismantling the U.S. industrial base ends up having real world consequences last year, what does the government do? It pours trillions into the same banks that caused this mess without doing anything to regulate where our tax dollars are going!
Now that these banks have paid back the loans, they are once again free to cause the same sort of disasterous lending strategies unabaided! This is no way to run a political economy, its bad marxism, its bad capitalism. We're all screwed!
