The Bubble Is Bursting

The current economic crisis is the result of irresponsible spending that dates all the way back into the 1950's and 1960's, with a marked upturn during the Johnson administration. We have faced similar but lesser circumstances 7 or 8 times since then, and each time we have sought to resolve the issue by pushing the "bubble" further into the future by printing additional money and/or devaluing our currency.

The problem that we are now facing is that we cannot print money fast enough to keep the "bubble" from bursting. To continue this same type of failed remedy (spending our way out of debt) as has been done in the past, is pure folly. Borrowing money to pay off debt will not work. It does not work with individuals and it does not work with governments. Eventually the currency that is being devalued to create this "illusion of plenty" will become worthless and having it will be senseless.

There is only one solution to this economic crisis, which is just a bigger version of all those that came before, since the end of WW II, and that is, to once again become a nation of producers instead of encouraging our status as "consumers".

Eventually, the "buck will stop somewhere", either voluntarily or involuntarily in the form of a total financial collapse. If it happens involuntarily then chaos will reign and blame will be assigned, but the end result will be the same. The United States will devolve into a fractured, confused collection of regional economies based on their ability to produce something necessary for the survival of the masses, but overall will settle into a world role something like the Europe of today and will be vulnerable to the whims of totalitarian governments that will survive simple due to their heavy handed population control tactics.

God Save America, because those who are currently in power, the same as the last two eight year administrations of Clinton and Bush, do not have either the vision or the leadership ability to avoid the inevitable.