Current Events — HabitableZone

Current Events » in reply to Selling them the rope.

Vaporware.
ER — (archived)

And that's just what we owe the Chinese. You can add to that the IOUs held by the Japanese, Saudis, and just about everyone else. Meanwhile, the Dow has broken a record, as if that really mattered. This is not a political rant, this trend did not start with the current administration, or even the previous one. It's inherent in the economy itself and the way it's organized. The system appears successful and efficient only because it's feeding on itself.

The much-vaunted American economy is a sham, supported by foreign loans and consumer debt and consisting mainly of intangible services and inflated securities futures and very little in the way of manufacturing capacity or investment in our own physical infrastructure and human services. We are mostly selling each other pizza and doing each other's laundry, albeit, at a very high rate of productivity.

One day, we're going to find out, the hard way, you can't get a haircut on the internet.

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