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In our view, the whole structure of modern, developed social welfare democracies is ready to topple. And not just because of the latest financial crisis. The crisis that began in ’07 is just a flashpoint…just part of a huge turnaround that has been underway for years.

 

Guess how much the Italian economy has grown in the last 10 years?

 

Zero.

 

Guess how much net average wages in France have gone up since 1975?

 

Zero.

 

Guess how many net new employees the Japanese have added to the workforce in the last 20 years?

 

Zero.

 

Guess how many new jobs the US economy has created in the last 10 years?

 

Zero.

 

Guess how much the average hourly wage in the US has gone up since 1975?

 

Zero.

 

Guess how much the real, private sector economy of the US has grown in the last decade?

 

Zero.

 

Guess how much US housing – and household wealth – has increased since the beginning of the 21st century?

 

Zero.

 

It seems almost unbelievable, because it contradicts everything we thought we knew. Italy may be mismanaged. Greece may be a basket-case, but the US was supposed to be the most dynamic, adaptable, capitalistic, forward-looking, technology-absorbing, growth-oriented economy the world has ever seen. How could it go nowhere for more than a decade? How could an American’s labor not increase in value, while the economy becomes more efficient and more productive?

 

Read more: Active Volcanoes of Debt http://dailyreckoning.com/active-volcanoes.../#ixzz1S4H3qJPB

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WASHINGTON -- A testy President Obama yesterday abruptly walked out of debt-limit talks at the White House, with no deal in sight as the Aug. 2 deadline to avoid a credit default rapidly approaches.

 

Obama shoved back from the conference table and said, "We'll see you tomorrow," ending heated budget talks with congressional leaders, said House Majority Leader Eric Cantor (R-Va.).

 

The talks are scheduled to resume today.

 

The fourth consecutive day of negotiations had been complicated by new obstacles as battles broke out within Republican and Democratic ranks.

 

Read more: http://www.nypost.com/p/news/national/angr...J#ixzz1S4ITJaVu

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Guest alex
In our view, the whole structure of modern, developed social welfare democracies is ready to topple. And not just because of the latest financial crisis. The crisis that began in ’07 is just a flashpoint…just part of a huge turnaround that has been underway for years.

 

Guess how much the Italian economy has grown in the last 10 years?

 

Zero.

 

Guess how much net average wages in France have gone up since 1975?

 

Zero.

 

Guess how many net new employees the Japanese have added to the workforce in the last 20 years?

 

Zero.

 

Guess how many new jobs the US economy has created in the last 10 years?

 

Zero.

 

Guess how much the average hourly wage in the US has gone up since 1975?

 

Zero.

 

Guess how much the real, private sector economy of the US has grown in the last decade?

 

Zero.

 

Guess how much US housing – and household wealth – has increased since the beginning of the 21st century?

 

Zero.

 

It seems almost unbelievable, because it contradicts everything we thought we knew. Italy may be mismanaged. Greece may be a basket-case, but the US was supposed to be the most dynamic, adaptable, capitalistic, forward-looking, technology-absorbing, growth-oriented economy the world has ever seen. How could it go nowhere for more than a decade? How could an American’s labor not increase in value, while the economy becomes more efficient and more productive?

 

Read more: Active Volcanoes of Debt http://dailyreckoning.com/active-volcanoes.../#ixzz1S4H3qJPB

Guess how bothered I am ;)

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In our view, the whole structure of modern, developed social welfare democracies is ready to topple. And not just because of the latest financial crisis. The crisis that began in ’07 is just a flashpoint…just part of a huge turnaround that has been underway for years.

 

Guess how much the Italian economy has grown in the last 10 years?

 

Zero.

 

Guess how much net average wages in France have gone up since 1975?

 

Zero.

 

Guess how many net new employees the Japanese have added to the workforce in the last 20 years?

 

Zero.

 

Guess how many new jobs the US economy has created in the last 10 years?

 

Zero.

 

Guess how much the average hourly wage in the US has gone up since 1975?

 

Zero.

 

Guess how much the real, private sector economy of the US has grown in the last decade?

 

Zero.

 

Guess how much US housing – and household wealth – has increased since the beginning of the 21st century?

 

Zero.

 

It seems almost unbelievable, because it contradicts everything we thought we knew. Italy may be mismanaged. Greece may be a basket-case, but the US was supposed to be the most dynamic, adaptable, capitalistic, forward-looking, technology-absorbing, growth-oriented economy the world has ever seen. How could it go nowhere for more than a decade? How could an American’s labor not increase in value, while the economy becomes more efficient and more productive?

 

Read more: Active Volcanoes of Debt http://dailyreckoning.com/active-volcanoes.../#ixzz1S4H3qJPB

Guess how bothered I am ;)

 

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In our view, the whole structure of modern, developed social welfare democracies is ready to topple. And not just because of the latest financial crisis. The crisis that began in ’07 is just a flashpoint…just part of a huge turnaround that has been underway for years.

 

Guess how much the Italian economy has grown in the last 10 years?

 

Zero.

 

Guess how much net average wages in France have gone up since 1975?

 

Zero.

 

Guess how many net new employees the Japanese have added to the workforce in the last 20 years?

 

Zero.

 

Guess how many new jobs the US economy has created in the last 10 years?

 

Zero.

 

Guess how much the average hourly wage in the US has gone up since 1975?

 

Zero.

 

Guess how much the real, private sector economy of the US has grown in the last decade?

 

Zero.

 

Guess how much US housing – and household wealth – has increased since the beginning of the 21st century?

 

Zero.

 

It seems almost unbelievable, because it contradicts everything we thought we knew. Italy may be mismanaged. Greece may be a basket-case, but the US was supposed to be the most dynamic, adaptable, capitalistic, forward-looking, technology-absorbing, growth-oriented economy the world has ever seen. How could it go nowhere for more than a decade? How could an American’s labor not increase in value, while the economy becomes more efficient and more productive?

 

Read more: Active Volcanoes of Debt http://dailyreckoning.com/active-volcanoes.../#ixzz1S4H3qJPB

Guess how bothered I am ;)

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