In a normal economy -- the kind we used to have before all theCareful there, Marie, in that last paragraph, you are starting to sound like a Republican! ;)
financial institutions were deregulated and China ate our lunch -- we
ought to be recovering about now. But we have hit the pit of
financial deregulation. In a word, we are seriously fucked. There is
no heart left for bailing out the so-called too-big-to-fail
institutions. When it's all over we'll be left with the real economy,
which has a competitive edge in aeronautics, chemicals, and raw
materials. If you've saved your seeds and learned how to grow them,
you might be okay.
In the last 18 months of the previous administration, the total value
of US wealth decreased by 20 percent. Unless we return to reasonable
trade policies, rebuild our manufacturing sector, and deal with
Chinese manipulation of currency, we won't be recovering any time
soon.
Marie
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