Monday, March 3, 2008

On the Brink?

Has anyone noticed the similarity of our circumstances in the U.S. today and those that the Soviet Union faced as it began imploding?

4 comments:

Anonymous said...

I am not noticing that as much as
the similarity with Japan following the 1997 financial crisis. That is proping up bankrupt financial institutions and not taking the steps needed, reducing government spending, bringing budgets in balance and letting banks and mortgage holders fail, raising interest ratesand clearing the market of mal investmentst letting the markets clear quickly, instead we are on the course Japan took of a protracted slow no growth economy

K. R. Mudgeon said...

Anonymous takes too narrow a view, ignoring (i) the corruption of almost every level of our governments, as well as of our politics and almost all of our elite institutions, (ii) our overly ambitious and unsustainable empire, (iii) our over extended military being bogged down (as were the Soviets) in an apparently endless war in Afghanistan as well as another such war in Iraq, and (iv) a public that blithely ignores all this.

runamuck said...

Common guys, the Fed has had (false & policially based) 40 year low in mortgage rates, borrowed extravagantly from China to finance a war no one wanted but the Bush Administration and their comrades in oil and arms and sent most of all our home produced overseas along with our best men & women in uniform (same as the ancient spear carriers of old). Talk about a Ponzi Scheme.

K. R. Mudgeon said...

Ahhh, the wonders of government schooling demonstrated again.