What I don't understand is how anything was ever built if it has always been this way. There must have been a political system that cared or worked once for the politicians to wreck it now. What is happening now is obviously selling out and nothing new is being made. There must have been decent people once to make the west what it was. What happened to these people? I can't help but think there was a huge shift from the baby boomer generation. The social change in the sixties has created immoral people. I also think people have no religious conviction.
Imo, corporate welfare happens when regulatory burdens grind said company to a halt. An "oops" moment for the Feds, the Fed never reverses policy, hence welfare incentive.
Ha, they were farmers first, then lawyers secondly. They were in touch with the trials and tribulations and hardships of conducting business. Today if you see litter on the street, people do not pick it up, they hire a lawyer, find who is responsible and enact a law to make other people pick up the litter - sometimes even the person responsible.
Well something has definitely changed because people used to capable of doing business. Now they are not.
Not sure there's anyway around that. Either 1) you do massive fiscal stimulus in the hopes you can increase growth faster than total debt, 2) you do more monetary stimulus to inflate away the debt faster than you inflate non-discretionary consumer goods - wages, real-estate, and financial asset prices, or 3) you go through a prolonged period of debt deflation to repair balance sheets. Either way it won't be pretty.