Is this finally the economic collapse?

[topspin]

I'd be willing to bet none of the Obama defenders here had GM bonds or shares.
Is it marxist or socialism I don't know, but he fucked them without a reach around and without due legal process. It's no wonder their is a trillion dollars in cash afraid to invest.

On Capitalist rights Obama has been way worse than Bush, Clinton or anyone else that comes to mind. And it's no small shock Wall Street contributions went from 66% dem 09 to 66% republican 2010

 

[editec]

I think in order to continue having a rational discussion it might help if we defines what we mean when we say economic collapse.


If one defines it collapse as "the economic activity stops and money becomes worthless" then I do NOT THINK that will happen.

Our national economy is going to be changing very rapidly.

It actually has been changing very rapidly most of our lifetimes, and this current meltdown is only the latest chapter of that tragedy.

The middle and lower class's economies have been getting poorer, while the top quintile or so have seen their economies getting better for the last thirty or fourty years.

The national economy, overall is obviously less viable than it once was.

The USA has gone from the world's largest lender to the world's largest debtor in your and my short lifetimes, folks.

This was NOT by accident in my opinion.

It is obvious that it was happening, and the root causes of it were NOT inevitable, either.


So may be misleading for us to even think in terms of a national economy, anymore.

Nations are on their way out, folks.

The haves of the world are more aligned with each other than they are with their fellow nationals.

The working classes might still be nationals and subject to the effects of what happens to their local economies, but the investment classes are international citizens, now, whose well-being is more tied to the international economy than to any localized economy.

 

[topspin]

Go investor class!!!

 

[Samson]

The working classes might still be nationals and subject to the effects of what happens to their local economies, but the investment classes are international citizens, now, whose well-being is more tied to the international economy than to any localized economy.

Interesting, and probably true, and possibly pragmatic.

The last thing an investment class would want is a nuclear or biological conflagration, or preceeding economic collapse, and the best position to be in to prevent it would be international citizens.

 

[Douger]

The working classes might still be nationals and subject to the effects of what happens to their local economies, but the investment classes are international citizens, now, whose well-being is more tied to the international economy than to any localized economy.

Interesting, and probably true, and possibly pragmatic.

The last thing an investment class would want is a nuclear or biological conflagration, or preceeding economic collapse, and the best position to be in to prevent it would be international citizens.

Sounds like a plan.