Why is the economy bad?
I don't want to know solutions. I want to know why the economy is in shambles and people don't have jobs. What caused the recent recession?
The problems is pretty straight forward. Congress over the past 20 years has been doing away with anti-trust and banking laws put in place after the depression ending in 1901 and the big one in '29 while at the same time taking the "teeth" out of the regulations that were left. Everyone seemed surprised when history repeated itself in '07. The pity is the same people who did this are still with us and they are fighting tooth and nail for the status quo. If they succeed we are in for another melt down and soon. Oddly enough, I live where things haven't been better-our economy is just roaring along with unemployment under 5% most months. What's the secret? I live in a place where gold mining is the major industry. The worse things get everywhere else the higher the price, the more they mine.
I think the issues are deep and long-term. All societies and their productivity go through cycles. Since the end of the Great Depression, the US government has tried to repress the downside of the cycle. This is like preventing forest fires until too much dry brush has built up, and we get a truly devastating fire. In my view, the current economic collapse is caused by a long-term effort to prevent such a collapse without addressing underlying causes. It is exacerbated by fear, greed, and manipulation. To learn more, you might check out my Hub, No Economic Recovery Coming: Welcome to the Fifth World.
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