Here is an easy to read, non-partisan and unique view of America's economic situation and how we got here.
America's economy is broken. We hear it everyday when we turn on the news, open our Internet browsers or listen to talk radio. Everywhere you look... more bad news. Layoffs, stock market misery, falling home prices, massive unemployment and, worst of all, President Obama pontificating about economic Armageddon. The government's response has been underwhelming... stimulus, bailouts, blah, blah, blah. None of it seems to make any difference. Realistically, the government cannot do much of anything in the short term. Anyone who understands anything about economics could tell you that and yet we have dozens of classically trained economists recommending every possible solution with no clear consensus. Why? No one wants to talk about the real problem... you and I. That's right, the system did not fail, we did.
The blame for this entire debacle is solely at the feet of the American people. I know you are thinking "Good God Arthur, isn't that a bit harsh?" and you are right, it is harsh. The truth hurts. I am not one to mince words and I call it how I see it. What we are witnessing right now is a national case of "pass the buck". Republicans blame liberals. Liberals blame the conservatives and supply-side economics. Rednecks blame the Mexicans. Rich blame the lazy poor, poor blame the greedy rich and the middle class blames everyone but themselves. Let's examine the real reason we are in the midst of worst economic times of any of our lives.
Read the rest here...
http://www.arthurshall.com/x_2009_economy.shtml
