Will the US economy recover? Excellent article......

[WestSeattle2]

http://www.opednews.com/articles/1/Will-The-U-S-Economy-Rec-by-Richard-Clark-100206-709.html

[Warpy]

1. The US economy will be unrecognizable in recovery

because the system had become unsustainable and therefore unstable.

Unfortunately, those fools in Congress haven't done a damned thing to get us into recovery, starting with regulating the insanity and outright thievery out of the financial sector.

[WestSeattle2]

7. Cound not agree more. Congress is useless. n/t

[izquierdista]

2. A better question is what

What will the US economy recover?

Will it recover the textile industry from China? Or will we keep shipping them price supported cotton so we can get sheets and underwear in return?

Will it recover the computer chip industry? Or will we let India design, build and program the next generation of computers?

Will it recover the machine tool industry? Even if it did, there are no more tool and die makers left in the US.

[Mopar151]

3. As to point # 4

I'm still here, actively looking for work.

[izquierdista]

5. Yes, but for how long?

I would bet you are closer to retirement age than to school age.

[Mopar151]

6. A little bit - I might have 20 good years left

But there are younger people coming along who are quite capable, and a lot more who can train up quickly. Kick the payscale up to 1970 equivalent levels, and they'll come out of the woodwork. And there a lot of old guys on the shelf who would make able trainers.

[hay rick]

4. bottomless gullets.

Spoiler alert. If you read the subject line you also read the last two words of this article. K&R

[Go2Peace]

8. I believe we *will* get another sputtering recovery. And we had better *not* relax and forget

Each downturn gets more serious, and each upturn we completely forget. We should be prepared, because we could very well pull out of this. But if we don't continue reforms we do indeed risk never seeing a proper prosperity again.

[bertman]

11. As Tonto said to the Lone Ranger: "What you mean 'we', paleface?" It ain't 'we' who have

control of the economy, as witnessed by the miniscule amount of help 'we' got versus the folks on Wall Street who control the economic strings.

[Tutankhamun]

9. Remember that televised Bush/Perot/Clinton NAFTA debate early in Clinton's presidency?

I would LOVE to see a second televised NAFTA debate today!

[Caretha]

10. I remember it

and I also remember, my father who died in 1994 and was a staunch Democrat all his life, and he voted for Perot. Shocked the hell out of me at the time....now I know how smart he was.

[PurityOfEssence]

12. That giant sucking sound

Yes, he was a impish little pipsqueak, but he was dead-on about NAFTA and his words ring through the years. "There's not a single Television set made in the United States."

The headlong greedfest simply doesn't stand to any reason at all: it's a consumer economy, and the consistent strategy has been to radically reduce consumers' incomes.

The wave of mortgage and credit card defaults coming will be demoralizing, yet, once again, nobody will have seen it coming, even though many see it coming.