I really think this is the beginning of the end of capitalism as we know it. The key to my conclusion: high energy prices that cannot be sustained and no clear alternative in sight that is cheap enough.
The main point is that humanity is not ready for the standards that America is trying to set. We are running out of energy options among many other troubles. This is it!
Of course another major problem that will add to the downfall is America's inability to pay off its debts on a macro as well as on a micro scale. Most Americans are in debt and the country is in debt. This cannot go on indefinitely without implications.
Welcome to the beginning of the end of pure greed and lust for money and profit. Soon we will have to all change our thinking and respect one another on a whole another scale if we are to survive.
Simple living, intellectualism and respect for nature are on the horizon. Enjoy!
Oh, one other thing, I would not put so much trust in presidential candidates for change. None of them know how to fix a damn thing. This thing will play itself out by the market forces. Who is President will not matter. Maybe some of them want to start another war but nothing else.
WASHINGTON (AP) -- President Bush struck a reassuring tone Wednesday about recent turbulence on Wall Street, saying he believes the markets will work their way through the turmoil safely and achieve a "soft landing."
Bush, in his most extensive remarks on a gyrating stock market that has sent investors on a rollercoaster ride, expressed confidence that investors would eventually calm down. The president said he expects investors to reassess their risk and begin to focus more on the economy's fundamentals, which he said are solid and sound.
"I'm not an economist, but my hope is that the market, if it functions normally, will be able to yield a soft landing," Bush told a small group of reporters at the Treasury Department on Wednesday. "That's kind of what it looks like so far."
Govt leaders and Wall Street are definitely concerned about a recession. That doesn't necessarily mean it's here but we're certainly seeing signs--the latest being Bush's plan to stimulate the economy.
Note that when investors get nervous, the gov't listens--and reacts. Congress is ready to do something now. Yet when poor people are in dire need (ala Katrina) they say, ah, what's a bunch of poor people to us? If the housing crisis wasn't affecting Wall St. the way it is, it's unlikely much would be done about it.
The problem is the government and the majority of Americans have been taught to idolize capitalism and demonize anything related to Socialism and communism. Any change will be impossible in this situation unless the whole system has collapsed.
Most people just don't know how to think otherwise. Mill writes that this is due to lack of or inappropriate education of the masses.
I think change is possible, but it's certainly not easy. There are usually parallels in history. I doubt anyone at the turn of the 20th century in the U.S. would have predicted the New Deal, but it came about, but only after a severe depression. I suspect most people would have said, even in the early 60s, that civil rights laws would never come about or, if they did, it would have been the end of the world as we know it. Yet change occurred.
Today, education is an issue, but most people here have some. I'd say the problem is less the lack of education than it is the growth and stridency of misinformation. Vast sums of money are paid to those who specialize in selling political ideas. I heard the RNC chairman last night proclaim to an audience that the Republicans were not the party of the rich. How many times have we heard this obvious nonsense?
And you're right about the ideological opposition to socialism, Big. It's funny how these days, when people are finally to the point where we can talk about national healthcare, the ideological opposition surfaces again and again, even from those who would probably benefit from some form of universal healthcare.
I think this time its more than a recession 
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