Day of Reckoning; America’s Economic Meltdown
Many of America’s fiscal troubles could have been mitigated by prudent management or judicious leadership, but that won’t change things now. The system is not in the control of the elected representatives and the deeply rooted problems are likely to persist until a calamitous event precipitates a fundamental change. The imbalances are now so humongous that everyone agrees that something has to give. The system is on its last legs as manifested by its increasing tendency to express itself in terms of repression at home and militarism abroad; the ominous signs of an injured beast in its death throes.
From the cratering hedge funds, to the faltering dollar, to the fizzling housing bubble, western-style capitalism is in the advanced stages of collapse.