Monday 25 June 2007
With the ladders of upward mobility for Americans dismantled by offshoring and work visas, with the very real problems in mortgage and housing markets, with the very real stress put on the US dollar’s reserve currency role by Bush’s trillion dollar war that is financed by foreigners, with the downward revisions in US GDP and productivity growth that are now mandatory, and with a variety of other problems that I haven’t the space to deal with, the fabled US economy is a thing of the past.
Paul Craig Roberts
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