Looking into the Abyss.. Is this particular downturn non-reversible, the close of dominant western culture?
“Looking into the Abyss.. Is this particular downturn non-reversible…….” – YOU ARE CORRECT…. Credit and liquidity isn’t the real problem. The real problem is solvency. Not enough new money is coming into the US economy to cover the money going out. And as the Federal Reserve pumps out more fiat currency to prop up the banks, the worth of the dollar declines, which means that foreign lenders will not want to loan us any more money, and indeed are trying to get out of the US debt they already hold, because it does not matter how hard Americans work and are taxed if the government is making the dollars worthless. Continuing the game of just shaking the money back and forth in the hopes that it will grow (or at the lest you can dump the debt on someone else) is not a formula for national prosperity. United States have turned from an independent manufacturing powerhouse and the world’s leading creditor into a bankrupt nation with little manufacturing capacity left, dependent on other
