Updated: May 15, 2021
THE 2008 CREDIT CRISIS WAS AMERICA'S ECONOMIC PEARL HARBOR WARNING
The Global Credit Crisis and Great Recession of 2007 - 2009 was a warning or the equivalent of the US and Global Economy's - Pearl Harbor Financial & Economic Warning. The problems is that neither the US or the Global Economy, heeded the warnings implied by the economic and financial crisis of 2007 - 2009. The crisis was caused by a US and Global economy that had for 40 years (Given Tax Cuts and Deregulation for the Wealthiest 10% at the expense and destruction of everyone else), financed uneconomic and unsustainable financial activity that was/is extremely profitable for a very thin slice of the US and global population (Top 10%) at the direct expense and financial destruction of the masses - creating economic imbalances, that finally burst wide open in 2008, threatening the wealth and well being of all market participants, both the rich and the poor alike.
SO FAR, AMERICA HAS IGNORED ITS 2008 ECONOMIC PEARL HARBOR WARNING, WE ARE AT WAR, BUT WE ARE NOT IN THE FIGHT??
Over the past 13 years, the US and Global economy has basically doubled down on the uneconomic approach of financing the economy that led to the Credit Crisis and Great Recession of 2007 - 2009, but on STEROIDS NOW!!! This approach is rapidly making the US and Global economy much much more unstable and at risk of total financial and economic collapse. The problem is that this approach relies on throwing excessively catastrophic amounts of money and credit at the market, which almost completely covers up the underlying economic fundamentals which would indicate that the economy is broken and on the verge of collapsing.
AMERICA SLEEPING THROUGH ECONOMIC World War 2, BECAUSE IT IS THE EASIEST THING TO DO....THIS MEANS OUR DESTRUCTION IS CERTAIN AND EMINENT IF STATUS QUO PERSISTS
The seemingly unlimited supply of credit and lending capacity made available to the US and global economy to satisfy market activity and growth which makes the economy look strong, healthy and robust, especially for the small slice of the population that is benefiting wildly from this. Unfortunately, these people are the opinion leaders, experts and controllers of information and how it is normally interpreted by the masses. Since they are benefiting wildly from these conditions, they will tend to continue to put a positive spin on the status of the US and Global economy, even though the underlying raw fundamentals discussed above, suggest that our Ponzi Scheme Consumption and Investment economy is on the precipice of permanent collapse.
WHAT WE MUST DO IF WE WANT TO GET IN THE FIGHT AND WIN!!!!
Deep, Structural and Fundamental changes in the Economy which makes the cost of producing growth in the economy much much less than the value of goods and services produced in the economy.
OR SAID ANOTHER WAY
Deep, Structural and Fundamental changes in the Economy which makes the cost of consumption and investment affordable for all consumers and businesses in the economy without having to rely on long term, excessive and uneconomic levels of borrowing, financial engineering and government subsidies to make consumption and investment affordable to consumers and business in America .
Deep Structural Change will Make The US Economy Right, Truthful and Working Best for Everyone in the Economy. This is the criteria for Organic, Healthy, Robust, Resilient and Sustainable Economic Growth - Broadly Enjoyed by All Market Participants (a more perfect union)in the US Economy: GDP - C - G - I >> 0, where: GDP = Gross Domestic Product; C = Consumer Consumption; G = Government Expenditures; I = Business Investment
THE ECONOMIC GOSPEL FOR THE USA IS HERE!!!!
The "GOOD NEWS" is that America is not "automatically" destined to repeat the economic failures of the past or create even larger Catastrophes in the future. The underlying and fundamental solution to our catastrophic economic problem in America involves returning to who we are as a nation and who we are as individual citizens in that nation. This is perfectly outlined in the Preamble to the Constitution of the United States of America. See more in the next recommended post..............
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