Wealth re-distribution in the USA [rah, rah, rah]

[alice wellintown]

I never thought that we would see the US downgraded from AAA. That the
world has responded by buying up UST securities, the US 10 year
benchmark at 2%, depite the downgrade (and Yes, I believe S&P is
correct), suggests that the mature economies of the world, and
particularly the US, Japan, and Germany, are not going to recover from
the great recession any time soon. Of course there are several other
considerations, the currencies, the price of energy (oil and
alternatives), demographics (baby-boom retirement in the US...etc.),
real estate portfolios, the cost of these protracted wars, the
inflation in the BRICs, the welfare extended to Banks and Corporations
(domestic, foreign, international) by the US Fed vs. the end of
welfare for working people and the brutal corporate/ political
subjugation of workers ....but I'm not going to hang that sign on Kohl
or any other political leader. The fault belongs to the people; Shock,
shock, but I blame the baby-boomers. I put the blame on the Vineland
Zoyds and Brck Vonds and Frenesis.


rich <richard.romeo at gmail.com> wrote:
> one almost feels bad for the germans, stuck in a debt-laden morass.
> its all helmut kohl's fault (if you've been reading transcripts in Der
> Spiegel of his conversations with Gorbachev right before the fall of
> the Soviet Union, you'll laugh at the stupidity of the man) pushing
> for the euro.
> michael lewis' recent piece on Germany, good as it is, in the latest
> Vanity Fair with its allusions to Germans love of shit and money
> smacks of a Pynchonian type of prejudice
> I liked that in Germany to avoid layoffs companies jiggered with
> employee hours so no one lost their jobs. If anything, German workers
> complain that wages have not risen comparable to German companies
> profits. No doubt they'll figure something out way before any
> like-minded happens in the US or Britain.
> But in the end Germany may have to open its wallets again to save
> Helmut Kohl's dream. I'd be shocked if they ever agreed to a eurobond.
> like a swimmer attaching itself to a drowning person