The pundits are practically ejaculating all over themselves talking about how great the economy is doing. Low unemployment, low interest and a soaring stock market makes for a rosy picture indeed. We vote with our wallets (and whoever we would rather have a beer with because that's important). So does that mean four more years or even The Donald for a lifetime self-appointment to the presidency? Would enough of us even care? Yeah, sure the economy is chugging along at the moment; the food is still getting to the cities, crime is down and society is still functioning more or less. There is only one little problem. It is not sustainable.
Debt. Running a massive debit seems to be the American way. Hey, watch your share grow here. I've never been a debt worry wart But at some point this will matter. What happens when our credit runs dry? No more wars to watch on TV. No more bailouts for banker-gamblers. Even the wealthy will have to start paying taxes! Funny how one political party has gone quiet on this issue (unless we ask for something that may help people). Debt will kill off the good times by itself. But wait there's more!
Climate change. Man made, God made or made by space aliens secretly taraforming the Earth for their own ends, this IS happening. I'll go with man made. Because you know, SCIENCE. Things are going to change fast in often unpredictable ways. They are not going to be good for humanity. Hey, the planet will be just fine. It is just us and many other life forms that are screwed. Even our good friends in National Security understand this. Putting our fingers in our ears and screaming LALALALA does not change what s happening one bit. None of this is good for a functioning economy much less a society. The next item is a true killer as well.
Massive income inequality. This never works out well. Here is a brief overview of some of the consequences. It is also a hard thing to stop once it is going. Consider wage stagnation for the last fifty or so years. The .1% running away with all the money always backfires spectacularly sooner or later. Here is some more good general reading on income inequality.
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This explains a lot. Hypernormalization - a long doc but well worth your time.
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