You know it's not until a few things happen like Katrina or 911 before we realize just what happens when infrastructure fails. Are you surprised to learn that there are hundreds of other bridges in the US that have ALREADY been identified as structurally deficient? Well, you tell me the difference between that set of warning signals and the ones we see present today in our economic foundations... You can add to the list but probably the #1 most worrisome is:
Net Negative Savings Rate.
But I can think of a plethora of others, from the deficits to loss of our "productive" base. Most everything we do here now is some kind of a "service". Nearly all of our transactions are backed up by transfer payments and not with any kind of a "US Economy" capital producing and accumulation theme to it. In fact it is purely consumption based.. No wonder we are so willing to accept a fiat economy, since basically most of what we do here now with notable exceptions ends up consumed and vaporizes, rather than being productively replenished? , if a society produces nothing why should it expect value in return?
We drive over those bridges every day, and we hand them our credit card at the gas station without giving it a thought. Just think about what those people on the bridge thought... it was the last thing they ever thought could happen...
Edited by SemiBizz, 05 August 2007 - 04:05 PM.
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