Doc 224899

Is the Second Great Depression Imminent?

Depression?
Recession?
Stagflation?
Call it what it really is: The inevitable economic and political failure of basing America's economy on consumer spending instead of something useful like manufacturing or technology or services. "Dollar Diplomacy" as the hinge pin of US foreign policy has been the sustaining rationale (perpetual excuse) for America's consumer economy for 40 years.

The solution to America's economic meltdown will unfold when we recognize that successful national economies have to be based on making something with intrinsic value, either a good or a service.

Politically, our salvation will come from no longer trying to buy friendship from hostile societies that have nothing to gain from posturing as our buddies, and recognizing that it's OK if everybody doesn't like us or approve of us.

Domestic policy will only become adaptive and functional when we recognize that some contributions are more useful and valuable than others, and that individuals differ in how useful they can be, so we can finally start cultivating and rewarding our brightest and best again and abandon our PC cultural and social relativism.