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January 12, 2009

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Adrienne

Amen! The removal in the past 40 years of industrial, productive capacity from this country is staggering, and we can't biuld a productive economy based solely on providing services to each other. When you boil it all down, the only way you can really produce wealth is my wrestling it from the earth, be it mining, farming, minerals, timber, and converting those raw materials into goods. We have truly lost our way.

Adrienne

correcting my typos (sorry)

Amen! The removal in the past 40 years of industrial, productive capacity from this country is staggering, and we can't build a productive economy based solely on providing services to each other. When you boil it all down, the only way you can really produce wealth is by wrestling it from the earth, be it mining, farming, minerals, timber, and converting those raw materials into goods. We have truly lost our way.

Alien Rants

You only report part of the sustainability problem. In our economy money is created from DEBT. ANY economy with a fractional reserve policy and a central bank has the same problem.
Worse, our governments (fed, state, local) borrow in the same pool and create money from debt. Politicians don't worry about the mounting debt because they are creating more money in the economy by borrowing.
The sustainability problem comes in when you realize there isn't enough money in the system to ever pay off the debts. All you have to deal with is the principal and it will NEVER equal principal + interest.
This isn't an Obama thing or even a Bush thing. It has been our economic system forever. It is a Ponzi scheme that relies on GROWTH to stay solvent. (Why do you think they all want more immigration and more illegals? Why do they offer ITIN loans? Because they provide the growth at all costs.)
But we go on thinking the money we borrow comes out of the bank vaults.

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