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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Paul Kern who wrote (98347)	6/5/2009 1:45:35 PM
From: benwood	5 Recommendations Respond to of 116555

Paul, you hit the nail on the head: "If workers don't earn a decent wage, how can they purchase cars, houses, groceries, what have you and keep the economy humming?" The relentless drive by the elite to become megabillionaires at all costs serves them in the short term, but torpedoes the economy in the long term. In the US, this process has been underway for about 25 years, and accelerated dramatically in the past 8-10. The affects on the bottom 80% were completely hidden by the debt bubble. The effects in the past 8 months have been hidden by the rapid escalation of federal debt. The debt bubble trend has popped. The federal debt bubble won't pop in the same way, but it will end just as badly.