Ivor O’Connor

March 10, 2010

Why Our Economy Is Not Going To Recover

Filed under: Uncategorized — ioconnor @ 11:29 am

I’m constantly running into people who are saying the economy is about to recover. I think they are crazy. It’s obvious.

Think of the Titanic. It was large and there were hundreds if not thousands of rooms. If we think of the Titanic as our economy here in America and the rooms as various parts of the economy it becomes easy to understand. Our ship is taking in water. Our country is borrowing about 4 billion each and every day to keep afloat. It can be seen here at our national debt calculator. Sure there are many rooms on the Titanic that had no clue they were going down. Perhaps large casinos where gambling continued much like the NYSE continues today. And as it became obvious there were problems on the Titanic looting probably occurred. In our capitalistic system this is called dynamically adjusting to new opportunities. And of course the Captain is in denial. He points out to these lootings as successes and proof there is nothing wrong with the ship. This Captain is the Democratic or Republican president in charge.

Until our debt calculator reverses our country is in trouble. Unfortunately it seems like the ship is going to go down and we’ll all have to jump into the water and hope to be rescued by a new ship. We’ll continue to suffer for another 30 years until we realize we are a third world nation. We will no longer be able to borrow. Perhaps we should look at slum nations now to see how best to live our lives in preparation.

What’s changed in our country. Not much. We watched the World destroy itself in the World Wars. We were left with all our factories and lots of resources to supply the rest of the World rebuild. We confused this luck with “hard work”. As the rest of the World actually worked hard we never did. They rebuilt their factories and became self-sufficient. We on the other hand removed our factories and became very dependent on other countries to supply us for short term profits.

Now it’s time to watch how bad things get. I’ll continue to listen to people tell me how the economy is about to turn for the better. All the time being totally aware it is not…


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