Long story short, America is an alcoholic and is partying hard and drinking herself to death, but so far, she's got a strong liver -- even though she's puking blood, she's still alive and clutching lovingly at her bottle, swigging it hard and fast as the rest of the world watches terrified, knowing she has a gun in her pocket and is a mean drunk who intends on taking everyone else down with her. Sounds like my ex. Sigh. I miss her. It was like kissing a deviant alcoholic ashtray with needle tracks and black lipstick.
she dumped you, eh? America should, too, but she's too good to ungrateful morons to do that. anywho, the cool thing about economics is that The Invisible Hand is ten steps ahead of the static, two-dimensional schemes that self-styled gurus dream up.
actually your assessment is not even close ---- America is a schizophrenic! we have the enabling/enabled, emotionally based, dependant and dysfunctional half {predominant drug usage, crime, unhealthy sexual conduct, etc} who is always at odds with the hard working, economic producing, child raising, community building, tax paying, trying to do what is right, country serving, other half. it is very easy to spot the two separate personalities --- one usually needs/wants some sort of pill to live life and the other half does not, they are too busy working.
"anywho, the cool thing about economics is that The Invisible Hand is ten steps ahead of the static, two-dimensional schemes that self-styled gurus dream up." When George Bush came to power and people called him Village Idiot, then I said be ready for 'Positive Surprises' from this reformed man. However, he proved me wrong. Bottomline, if there are going to be leaders like GWB and Rumsfeld, then in 20 years Good Old US will become a poor european country like Portugal or Greece. America is hurting today under current group of leadership and America needs help, right at this very moment. Invisible hand or invisible boobs help upto certain point only, not under $10Trillion in debt.
No, actually, I dumped her, in both cases. I hope your market calls are better than your relationship calls. I have read Adam Smith. I'm a member of the Austrian School of Economics, and I understand and support Smith's theory of the Invisible Hand. However, it's not a Holy Grail. Like Ayn Rand's Objectivism, it doesn't scale well in today's society, especially because of massive government intervention and uncapitalistic changes in laws which prevent it from operating freely. Massive debt (one example) is breaking the fingers of the "Invisible Hand" one at a time, and America's only got one finger and a thumb left by now. The rest of the world isn't much better, if it is better at all. But Bush is on track to accumulate more debt in this single year than most other countries have in their entire history. He has to borrow from potential enemies because he "don't have the money right now, but I can get it by Thursday, I promise". And the direct benefit to Americans from all this borrowing is minimal. I haven't seen America's quality of life improve dramatically since Bush has been in power, have you? At least the EU's GDP is largely things that actually benefit their quality of life; without the massive American military expenditures, the US GDP would be much smaller than Europe. In short, debt is a problem, and blind unswerving patriotism is not the answer.