> Now that that's broken up, the whole thing is a total mess.
One of the most perverse features of the US decline is how blindingly obvious the solution to its problems are: it simply needs to chop its military budget in half, tax the rich to pay for universal health insurance, and spend $500 billion annually on green jobs, and hey presto -- 98% of its problems go away.
Ironically, the US is the final victim of neoliberalism: as individual capitalists, it was rational for our elites to borrow from foreign creditors and engage in high-yield speculation rather than to invest in low-yield industry, education and infrastructure. But what was good for a few individual capitalists was a disaster for US capitalism.
I just wonder how long the foreign creditors of the US are going to tolerate this state of affairs. Not much longer, judging from the noises emanating from the economic ministries of the BRIC nations.
-- DRR