Wall Street is flirting with a bear market which would confirm a U.S. recession . Gee, what's a recession look like in a country that consumes 25% of the worlds output with only 4% of the planets population? What's more the U.S. consumer has to borrow significant amounts of money from foreigners, banks and credit cards to continue this unsustainable lifestyle fact.
All this consumption is on top of a bloated and wasteful U.S. "defense" budget whose total is greater than all of the rest of the worlds defense budgets combined. This nonsense allows the U.S. to enter into wars of choice like the five-front engagements we are currently involved-Afghanistan, Iraq, Iran, Somalia and Pakistan. The C.I.A. has a long list of other wars we can enter if it happens that these five get resolved. The C.I.A. is evil incarnate.
A recession will certainly focus the wastrels in congress to more carefully weigh their spending priorities. That would be a good thing if war is shortchanged and peace becomes a better investment for scarce tax revenues.
The human species needs a recession to better acquaint itself with its own limitations and the limits of the earth. Look at the rest of the flora and fauna, they have been in a bear market since we showed up.
"Waste not want not".
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