Three-and-a-half years ago, one of the dirty fucking hippies who just happened to be right (and won a Nobel Prize to prove it) about everything wrote:
“these days, Americans make a living selling each other houses, paid for with money borrowed from the Chinese. Somehow, that doesn’t seem like a sustainable lifestyle.”
Like the rest of us traitors who didn’t beliieve in the Bush Boom, he was ridiculed and criticized by the neo-cons and the Kool-Aid brigade. Of course we could go to war, cut taxes for the rich and continue with business as usual — according to the infallible wizards over at NRO etc. the US economy was teh awesomest and could never fail. Except, of course, it did. Then their BFF Henry Paulson got to raid the treasury to keep the moolah flowing to all his well-heeled and well-connected friends. We’ll be paying the price for generations while the US infrastructure continues to crumble and we try to pretend that door greeting at Wal-Mart is somehow a promising career choice for a large percentage of the population.