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January 08, 2012

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I've read both Kunstler and Reich.I think Reich nailed it in Aftershock on 30 year cause of The Great Disruption and identifying the 3 coping mechanisms the middle class had used to deal with income inequality.The rich do not spend all they make and the middle class has no more equity to borrow against,lucky to have a wife that works,and cannot work any more hours since they now work 350 more hours than they did in 1980.Consuption is stuck at a much reduced level and will remain there until we recognize the problem and take bi-partisan steps to remedy it.
The Republicans in the debates are deriding Obama as wanting to establish a European socialist state.I would think that looks pretty good about now to most workers.

Yes, we are becoming increasingly divided into haves and have-nots, but if the equation followed a logical course, the un-prosecuted wealthy who destroyed the economy would be in hiding. Fortunately for them, we're still over-run with "temporarily embarassed millionaires."

Great essay, Mr. Talton, especially the analysis and historical overview (I still think that the doomsday prognostication, especially of Kunstler and Orlov, is vastly overblown).

I've created a link to the essay so that I can refer back to it and cite it in future.

"People sense it."

A decade ago they called us alarmists and doomsayers.

Many on this blog are like my brother in law. He is always saying, "The world is coming to an end" as if he meant next week. The thing about empires is that they do die an ugly death, but what makes it really ugly is the time it takes them to die. So, don't hold your breath, it will happen, but probably over a span of several generations. In the meantime, drink more, dance more, read more and mostly chill out. You as individuals can't change anything, so don't bother trying.

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