Comments on: Without Cheap Credit, Consumer Economy Will Disappear by 2020

By: Corinne E. Blackmer

Corinne E. Blackmer — Mon, 28 Jul 2008 03:58:54 +0000

The deregulation, privatization, and globalization of business in recent decades was based on an ideological premise--free markets bring the greatest good--but this will prove an illusion. From a long tradition of using military solutions, the United States has seriously compromised itself--preventive wars, lower taxes, expanded military--all sustained at home by a consumer economy that is inherently and collatorally unstable. The increase in energy price will scotch the trips to the mall, and soon it will be the focus of doing anything to ruin communities and families to sell its products. Americans are going to need to get ready for a paradign shift--the massive waste of consumer culture, the pitiful premises of our foreign policy, and our massive debt will cause an enormous, fundamental, unstoppable transformation in our society. We will be poorer. Remote suburbs will bust. We will implace programs to prevent us from descending into social chaos. We will use the libraries, stress a more outstanding value and science curriculum, and buy products for their usefulness and make lots of clothes at home. Perhaps we will be happy, but the fundamental churches will be mad as al.

By: Iain

Iain — Fri, 05 Oct 2007 11:41:24 +0000

What a lot of rubbish. The term socialism is used inappropriately for a start. If you understand the concept of 'power elites' then it is one 'elite' group bailing out another group. All of the power elites have a vested interest in maintaining the status quo. Another interesting point to make is that even at its peak the Soviet Union was not the largest planned economy in the world. That honour went to the industrial military complex of the US – this is still true today. Typical myopic view of the world – the US is imploding through its own self inflicted policies that are highly contradictory. A bit like burning the candle at both ends and in the middle. From a finite resource bucket the US is launching 'colonial' wars, expanding its military reach, reducing tax liabilities and having to find resources to maintain the fabric of society. The solution appears to be to ramp up the printing presses and hope nobody notices all those depreciating dollars flooding the world economy. However, central banks and and investors around the world are noticing. The only lever the US will have is its military and a declining means of supporting that as time goes on.

By: SEQUOIA

SEQUOIA — Fri, 05 Oct 2007 02:56:38 +0000

Capitalism as we knew it is long gone and finished.With the SOCIALISM style bailouts for the large financial institutions,the idea of true capitalism has been abrogated.With the collapse of the USSR we have been given little extra time to get OUR house in order,which our leaders have failed to do.As such, there is now much more capitalism in RUSSIA or the ex satellite states of Central and Eastern Europe than there is in the USA.We will fail as a nation with our defunct green little papers that we call dollars.At 5 cents on the dollar remaining in value from 1913,it is utmost shame to destroy the once greatest nation on the surface of Earth.Incidentaly,small country of Slovakia has GDP growth of 8.9% per annum and the Slovak Crown has gained against the USD about 55% in the last 4 years.They went from socialism to Capitalism,whereas the USA is going from Capitalism to ????
ABYSS.

By: Paul V.

Paul V. — Thu, 04 Oct 2007 23:56:44 +0000

It's not a capitalism we have today around the world and it sure will collapse. It's the big governments welfare states.
The true capitalist and really free markets are not the man made and ruled thing. They are the nature's laws.
I truly believe that it's the only way for humanity to prosper in any time.

By: Chuck

Chuck — Thu, 04 Oct 2007 18:07:17 +0000

Interest Rates will have little long term help. NAFTA is taking root, and the seat belt light just came on... ready for the "soft" landing?

By: Market Socialist Dude

Market Socialist Dude — Thu, 04 Oct 2007 08:27:19 +0000

The end of the consumer society is an ecological necessity. A globe with finite resources cannot support endless material acquisition.

This will also lead to a new political economy. Capitalism as we know it cannot exist without the consumer society. Capitalism requires constant growth for stabiity and economic growth requires an increase in demand. It might be the case that within a generation the current global capitalist system will fall just as swiftly as Soviet central planning.