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WC MN | Great Post John.
I would add that doing "the right thing" right now does not forward antones best interests. Nobody would be spared and it would have a negative impact country and probably globe wide. Who is going to step up and take that on? The answer is nobody. My belief is it will take serious threats or acts of harm towards those at the top in order for things to get moving in the right direction (I'm no advocateing it). The thing policy makers and politicians fear now as a worst case scenario is a lost job.
It has to get much worse for people before things change. Right now the poor for the most part still live a decent standard of living compared to poor in other countries. It has to become painful to be unemployed for any duration. It has to become painful to fail in this country.
2008 was our wake up call and we just papered over it. We have set the stage for a much worse crisis. Read the book its different this time, its an eye opener. Don't listen to what the government says. They will tell you everything is fine right up until it isn't. Their job is not to tell the truth, its to keep confidence.
All in all John is right, this will end badly. | |
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What fiscal and political policy would be required to truly right the ship?
