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December 16, 2008

Today's Bubble Post -- Reckoning

-- by Dave Johnson

James Boyce, in one of his best posts ever, says that if something is unsustainable it can't be sustained. And here we are. Go read James Boyce: The Darwin Depression: Time To Say Goodbye To How It Should Have Never Been.,

It is very dangerous for an empire such as America's, faced with ebbing influence around the world, to amp up on cheap credit and buy out the store. At the end of the day, you have a frustrated country, swamped in debt and merchandise it doesn't really need, wondering how to pay the bills. Japan has never really recovered from its bubble, and its bubble is looking pretty small compared to the one we're popping.

Look at this. Consider this image.

Of course, you have to click through to see the charts.

Posted by Dave Johnson at December 16, 2008 9:56 AM


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