A stopped clock is right twice a day...
American Exceptionalism, Individualism, Mutual Help will restore us.
The progressive peddlers of programs and tea party tinkerers of taxes are locking horns in Washington DC and personally I don't subscribe to either major political party's agenda. My belief is neither side is acting in the best interest of the American people but merely serving their own purposes. I keep hearing a variation on the statement "they are trying to drive us back to the pre-Depression era." 'They' being I suppose that enigmatic collaboration of tea party, Republicans and conservatives and the complaint coming from liberals who have redressed themselves as progressives. My first thought is I wonder if anyone has considered that the programs of the Great Depression may be what got us into the Disruption Depression we are in today? That and consumerism.
There is a ridiculous headline in the Wall Street Journal "Slow Growth Stirs Recession Fears." Recession? What!? A recession implies a bump in the road and what we're experiencing is far larger than a recession. Statistics can be manipulated anyway someone wants but the reality is our credit rating will be downgraded regardless of any machinations of the Administration, US Treasury, Congress or Wall Street. There are two systemic problems that cannot be ignored by printing money. We are overleveraged as individuals and so is our government and additionally unemployment has become structural. Therefore if people are not able to productively earn money then debt cannot be paid off and will be repudiated.
We never pulled out of the recession in 2009 as some economists would have us believe, merely suspended it. Paul Krugman of the New York Times can rename this the "Little Depression," after all the damage he has done promoting the excessive printing of money, but the bottom line is we are heading for a long decade of economic restructuring and rebuilding. We will have both stagnation and hyper-inflation more endemic than the US in the seventies and Japan in the nineties. If you take the political and bureaucratic classes in DC and the financiers in New York seriously and rely on them for a solution then the joke is on you. They don't have a clue or care about anything west of I-95 and are concerned only with protecting their own self-interests.
In the long term I believe American Exceptionalism and Individualism is alive and well, although buried just beneath the surface, it is burgeoning resurrection. That ideal will be the ultimate resolution to the death of consumerism by technological and economic disruption and is a great thing. We will relearn and return to what it means to be innovative and creative and produce unique and valuable goods that are useful for the new era. It will take time and hard work. The sooner people recognize that reality we will be prepared to move forward. What our government is doing now is pure folly and nonsensical and you can't make sense out of a nonsensical situation. They are postponing the inevitable by trying to revive a dead concept, the old economy.
The American people must relearn to work for themselves. If it is for an employer they need to embrace the concept of being a free agent and not love an employer because they won't love you back. Americans should accept we are not entitled to anything except what we create by reinventing our lives and subsequently recreating the country. It is about our individual responsibility to take care of ourselves and mutual help with each other. The government cannot simulate or stimulate real people doing real things only real Americans can do that.