Dave Eriqat

Is America on a Downward Slope?

I particularly like the idea of term limits for all politicians. This notion of career politicians is nuts. Not only does the ensuing ossification of the political system inevitably lead to corruption (because the most entrenched politicians accumulate tremendous power, and we know what happens next), but the political system becomes incapable of adapting to new realities. I wouldn't be so generous as you, though. I'd limit politicians to a single term. If they truly want to "serve" their country, then one term ought to be plenty.

While you properly criticized excess consumption, you neglected to mention its corollary: production. The U.S. needs to make an effort to restore its productive capability, industrial and agricultural. Those are the fundamental source of real wealth, which make them essential to pay for any "recovery." Of course, restoring our productive capacity will take decades, so the sooner we begin, the better. The notion that we can have an economy based solely on "services" is and always was laughable.

Dave
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The Shallowest Generation

I foresaw the housing bubble bursting, but I didn’t foresee the generous bailouts and mortgage forgiveness going on. Had I known that people would be able to stop paying their mortgage, live rent free for a year, and then have their principal reduced and their loans converted from low-interest ARMs to 30-year conventional ones, I’d have bought the most outrageous house I couldn’t afford and let the government and the prudent suckers – like me – bail me out! Now all I can do is steam with resentment at the corrupt system in which we live and the losers who are getting bailed out. I’m “poor,” yet everything I own is paid for. I have no debts, not even for my house, nor even any credit cards. So in that respect I feel very proud of myself. On the other hand, I honestly feel foolish for being so prudent and responsible! I’m also a little angry at my peers who were irresponsible and are now being bailed out.

P.S. I’m a baby boomer, but I’m pretty contemptuous of baby boomers in general, for the reasons you cited.

Dave
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