Monday, December 11, 2006

Drifting Down II

"It's difficult for us to imagine, but our exceptionalism may not be permanent" (p.63 of Jeffrey Madrick'sThe End of Affluence).

The other day:
Walmart sales dropped.
The dollar fell off.
The Dow Jones fell ca 150 points.

Just a blip? or a harbinger of what lies ahead. Most of us will hope for the first, but an underlying anxiety remains.

We've been told over and over that our economy is consumer driven, but people must have money to consume. Have they been borrowing to spend? Are their credit cards maxing out? Sooner or later the bills have to be paid; ignore that and there will eventually be a rude awakening-- a "hard landing". What about no bottom?

Just don't think about stuff like that; it isn't pleasant! and we're entitled to pleasure; aren't we?

What's true of the individual is equally true of the nation!! The debt mounts up day by day, year by year-- until???

When we no longer have the means to consume Chinese goods, they may stop lending us money, and the interest rates will go sky high. Do you know what happens when the dollar is worth 10 cents, and a loaf of bread $10. Read about post war Germany; it wasn't pleasant. It will never happen here, or will it?

Also read Isaiah; he understood these things. Times don't really change very much.

3 comments:

david said...

Yes. I think the North American hegemony is passing. And while I rather hope not be around when the Big One happens I rather suspect I will be. I hope your government has the good sense the Russians had and not launch their silos in a bid to hold onto its dominion.

The biog story in Canada right now is Maher Arar, identified by Canadian intelligence as (falsely it now seems), this was communicated to the US authorities, who seized him on US soil and deported him to Syria wher he was tortured before being returned to Canada. Canada has apologised to Arar and launched an enquiry. The US claims they still have (secret) evidence against him.

What no one in media or eitehr government seems to be asking is, even if he were terrorist connected, does that justify deporting a Canadian citizen to a country with a history of torture?

Is this the level of democracy? And at a lunch party the other day, I said Canada was no longer a Christian nation, and I was correctyed: of course we are.

shiver

Matt said...

Larry, I don't think we need to concern ourselves beyond what we can personally do, which you are doing. We have to trust that God is willing to do what God can do when free will is factored in.
Perhaps you are stirring the soul of others to think thoughts of peace and truth.
Happy Old Man, keep on blogging the truth. You make this a better holiday for the world by your concern and doing.
matt

anonymous julie said...

Entitlement irritates me to no end. Um, no, you're not!