03-17-2020, 06:47 AM
The last big economic meltdown (2007-2009 was certifiably the worst since the Great Depression) ended with Corporate America prevailing and pushing America into the 3T ways that got America into the mess, ensuring that nothing happened except that a few shysters lost their assets or went to prison. The political choices that Corporate America foisted through front groups such as FreedomWorks!, Citizens for Growth, Americans for Prosperity, and the like stood for the economic hierarchy that had prevailed before -- typical 3T ideology. Nothing matters except profits and indulgence for elites.
We are back to much the same. But this time the President is a consort of overt organized crime. If Dubya made his money honorably, we can't be so sure about Trump. If Dubya had limitations, even he knew when he had run out of credibility and had to turn to the experts. Donald Trump is his own expert. Will the overall results be different?
The DJIA is off 31.72% from its all-time high, which so far isn't as nasty as the "Four Bad Bears" of 1929, 1973, 2000, and 2007. But it is so far an ominous start. All four "Bad Bears" before this one -- and we do not know where this one stops -- led to recessions or the Great Depression.
Any recession from this downturn will not end before the November election.
We are back to much the same. But this time the President is a consort of overt organized crime. If Dubya made his money honorably, we can't be so sure about Trump. If Dubya had limitations, even he knew when he had run out of credibility and had to turn to the experts. Donald Trump is his own expert. Will the overall results be different?
The DJIA is off 31.72% from its all-time high, which so far isn't as nasty as the "Four Bad Bears" of 1929, 1973, 2000, and 2007. But it is so far an ominous start. All four "Bad Bears" before this one -- and we do not know where this one stops -- led to recessions or the Great Depression.
Any recession from this downturn will not end before the November election.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.