Turning a recession into a depression
Have you ever witnessed an old office tower or hospital being levelled by implosion? Demolition experts detonate charges placed strategically throughout the building so it falls in on itself. The procedure can be done so precisely that nothing around the razed building is damaged.
Now imagine the same procedure carried out by do-ityourselfers who have only seen it done on TV. Debris would fly everywhere destroying lives and property for blocks. Passersby would be sucked into the concussive vortex. Nearby homes and shops could be vapourized.
Current efforts by American Congressmen to force the White House to withdraw the United States from the North American Free Trade Agreement (NAFTA) are like an attempt to carry out an implosive demolition of the American economy by D-I-Yers.
I don’t care if Americans blow up their own economy. The trouble is, no one is expert enough — least of all Congressmen who are play-acting as economists — to know where to place the charges so that the collapsing American economy does not topple the rest of the world’s finances with it.
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nomdeblog Says:
The Dems don’t care about economics, they just buy votes. Now they are relying on the lack of economic history taught in our schools to rally unions and understandably scared workers. They can’t comprehend that American exceptionalism rests on global trade.
The wealth generation of global commerce was not invented by the US; it rose to prominence with the Venetians who benefited hugely from capitalism and maritime power. This was followed by the Dutch who took maritime trade to a new level, then the Brits and now the US.
Now the Obamamaniacs appear to be on the verge of repeating the mistakes of the 1930’s. As Gunter says “UCLA economist Lee Ohanian, who has specialized in the causes and effects of the Great Depression has calculated it was three times worse than it otherwise would have been, because of Smoot-Hawley and other protectionist measures”
Posted on March 10th, 2010 at 9:30 am
Jack Says:
This is a good article but it needs to be “hooked up” with this one. Why would Mulroney be suddenly rehabilitated “out of the blue” UNLESS the government is a lot more worried by US protectionism than they appear to be.
It seems to me that Brian is the only person fully briefed on the file (it’s his legacy) and if I’m right it’s a truly smart move as they put him “on point” to save it in the days ahead.
He can do that you know.
Posted on March 10th, 2010 at 3:55 pm
nomdeblog Says:
Mulroney would be a great help in a “sane” regime. But in this case …???
Pelosi is talking about Congress passing healthcare reform and she says …
“But we have to pass the bill so that you can find out what is in it, away from the fog of the controversy.”
Unbleivable!
Posted on March 10th, 2010 at 5:08 pm
Jack Says:
Agreed.
Posted on March 10th, 2010 at 5:11 pm
Philanthropist Says:
All levels of government in the US are rushing full steam ahead towards a depression, elected officials aren’t about to veer away from disaster when there is so much pressure from government funded activists at every level. When the economy really does go bust there will be a lot of social upheaval – and officially favoured groups are going to bear the brunt of resentment.
Posted on March 10th, 2010 at 11:16 pm