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August 08, 2011

Comments

Steve Withers

No mention of the long term effects of declining oil production and higher energy pricing or of climate change and the consequences of that.

We face a lower-energy future and the problems this will pose for a population that keeps growing as our ability to service its needs is running into a nexus of constraints for which there is no obvious solution.

"A culture of entrepreneurship" is like a magical incantation....and fails to deal with the population pressure, peak oil or climate change. They aren't even acknowledged.

Here's what happened:

1. High-paying jobs in the West became low-paying jobs in Asia.
2. Consumers on stagnant or falling incomes have less to spend and pay less tax.
3. Creating an unsustainable debt mountain at every level - from families to countries - temporarily masked the effects of "creative destruction".
4. The only way to fill the growing revenue gap was closed off as governments moved to cut taxes on people who still had high earnings.

So we have a recession that will become a depression...and it won't end.

It won't matter what culture you have....9 billion people can't survive in a post-oil world, never mind prosper.

Reading this article was like a blast from the neo-liberal past.

It's over.

Keith Curtis

Our economy is slow because the government has its boot on the throat of it.

The problem with America is the high cost of energy, healthcare, education, regulation, litigation, and taxation. All decrease the rate of progress and push jobs offshore. All of these problems can be fixed, but it is the US Congress who must fix it.

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