Can the US resolve these issues?
1) An excess credit problem, left over from the 2000s Housing boom and credit bubble — being solved v e r y s l o w l y through deleveraging and passage of time;
2) Slowing economy and high unemployment (includin…
The great cold lie at the heart of present-day America is that the nation will magically benefit if we each single-mindedly pursue our self-interest to the exclusion of all else. The idea has a sleek quasi-free-market sheen, as it borrows the market…
“We also have Secretary Steven Chu, my Energy Secretary. Where is Steven? There he is over there.” – President Obama at Georgetown U last week
Blame Steven Chu, then, because when it comes to America’s energy predicament, the president has…
The latest from Charles Hugh Smith…
Financialization and centrally planned speculative credit bubbles have undermined the real economy: that’s why things are falling apart. There is no pleasure in “I told you so” when things fall apart. Many of us…
