General Discussion
In reply to the discussion: I realized tonight that America's 99% are fucked for years to come [View all]sendero
(28,552 posts).. would do jack if they were enacted tomorrow.
The time for nibbling at the margins is long past. These little tweaks are like pissing on a forest fire.
As far as I can tell we will be in this mode for many many years. Japan has been here for 20+ and nothing has really improved for them. If we are lucky, we'll just trundle along like this for a couple decades. If not, we will have a complete economic collapse.
And the problems we face are so structural, such as employment moving overseas, the need for the Fed to keep rates absurdly low because of our debt rollover costs (no Timmy, these low rates are NOT good for the economy), the debt and obligations themselves (if you look at the numbers you will conclude as most have that the debt cannot ever be paid in any way and inflating out is the only answer with any possibility of "success" , the similar problems in Europe, the Chinese economic squeeze play (guess what, they don't need us that much any more) and on and on and on.
Academic economists keep expecting this to just correct itself like a normal recession but that is NOT GOING TO HAPPEN and I would think that after fully 3 false starts people would get a clue.
Welcome to the new normal.