More people are realizing just how dire America’s situation is. Washington and Wall Street are still trying to save current institutions. Perhaps, they must try. However, these efforts will not be successful. Here is just a short sample of some of the problems.
- Job destruction will continue even though the government will lie about its true extent. Technology is eliminating jobs very rapidly and these jobs will never come back, no matter how much stimulus money there is. Also, ignore the government statistics about jobs — these statistics are political calculations and do not reflect the true state of employment.
- Special interests are still in control of the system. In fact, it is the expertise of the special interests that will seal the destruction of America. No matter what program anybody proposes, there are always special interest who want to reform it for the few and powerful. These special interests have lots of money and influence. They will screw up health care reform. They will screw up everything as they privilege the rich and screw ordinary citizens.
- The financial crisis runs so much deeper than most understand with $TRILLIONS of derivatives. Banks will continue to need more and more money but this money will just be wasted to cover past losses. There will be no new lending by large banks because these banks are insolvent. They need the money just to cover losses. This money is just being wasted.
- Housing can’t recover without job recovery. Job recovery makes no different without wage recovery. Without living wage jobs, at a minimum, there is no hope for housing. Instead, workers are so desperate they will accept any wages which will make the problem even worse. More and more tent cities are being created and not reported by the Press.
- Every day there are reports how some industry is imploding. Look at newspapers. Thousands are going out of business. Even papers like the NY Times have no idea how to monetize their business.
America is doomed.
