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Has the American Empire of Debt Entered Terminal Decline?
Despite all of the trite messages of hope and change, the current state of the American economy points to a short term slowdown, at the very least. Faced with a loss of confidence in the dollar and a loss of confidence of the general benevolence of the country throughout the world, there may be little reason to expect that this current recession does not signal the final days of an empire of debt.
Watching the Dinosaurs FallLook now as the mist clears, before us, a brand new shopping development, finished in September 2007 all 14 units stand empty. Five months and not one unit rented, maybe it was the demise of the Ford assembly plant or maybe it was the demise of the Chevrolet assembly plant. Maybe it’s the doubling of the price of fuel because government figures explain to us that unemployment has moved almost imperceptibly to a moderate 5%.
