Reply #9: When America stopped producing and sent production overseas, and...

[Speck Tater]

turned to an economy based solely on consumption, it sealed its fate as a has-been nation. We cannot survive on an economy that merely consumes without producing anything of real value. The only good that another stimulus will do is to delay the inevitable collapse of the globalization empire, and a return to localized economies based on the actual production of things of value. We can't expect our economy to survive on the basis of selling each other intrinsically worthless paper on Wall Street and calling it "wealth".

The mistake in that graph is comparing this "recession" to past recessions. This is not your father's recession. This is the unwinding of a fundamentally flawed economic system based on make-believe Wall Street wealth instead of real industrial wealth. There will be no recovery from this one. No recovery, that is, until the whole Wall Street casino is seen for what it really is. Wall Street is supposed to be a way of financing industry, not a way of high-stakes gambling on intrinsically worthless paper. The whole rotten shceme needs to be shut down and replaced by a system of industrial finance based on real wealth.