chaliebrown

The U.S. on the Precipice

The biggest problem is that the vast majority of our fellow citizens have no idea about what is really happening. They do not understand basic ecnomics and they have blind faith in their leaders.

The readers of this website, cnbc, marketwatch, etc., are all highly educated higly motivated individuals (exactly the opposite profile of the alt-a / subprime / blind faith in leaders - Americans).

When you get this type of disparity you get greed and corruption of a few preying on the masses and calling it "capitalism".

As Americans we have oursleves to blame. We'd rather have our celebrity culture and our 15 minutes of fame and not do the hard work of studiying and taking accountability for our own lives.

The slowdown will be hard. But the slowdown will be well deserved. We have inflicted this on ourselves due to our own selfish lack of accountability.

While the slowdown will not be the end of the world, let's hope that it acts as a wake-up call to our fellow Americans.