Only the constant pumping by the Fed has kept the economy from falling into
Deleveraging will reveal the long anticipated prediction of Marx come true -
capital doesn't need as much labor as before, and capital's long
desired minimization of wages is accelerating. The immediate future is grim,
initially for labor but also for capital as well.
No mention in this article of the staggering NATIONAL debt! $17.4 trillion and
accelerating and it will destroy our economy while our "leaders" just
keep on borrowing and spending!
It would also help to have a worldwide system of fair pay for work. Currently
we have regions of the world, such as East and South Asia where exported work is
done for slave level returns. That pulls everyone else down.