TO REPEAT MYSELF—YET AGAIN—THE CURRENT
AMERICAN BUSINESS MODEL IS DEEPLY, MADLY, AND SERIOUSLY STRUCTURALLY FLAWED.
There is real growth—based upon improved productivity—and there is phony growth based upon debt. Moderate debt has its uses, but when it reaches a level that is unsustainable, you have an economy that is structurally unsound. Adverse consequences become inevitable. Indeed the illusion of growth may mask the reality of decline.
Whatever the official GDP statistics say, the U.S. economy—as far as most Americans are concerned—is in decline, and has been for decades.
Amazingly, neither the mainstream media nor Congress seem to be concerned. Some of the underlying issues are mentioned, but the fact that this is an existential crisis is pretty much ignored.
This is a preventable tragedy happening in plain sight.