Todays Economic turmoil should not come as a complete surprise to anyone. Both the political and economic policies that have been applied since the 1900's.
Should one look at the United States economy as a business then it becomes obvious growth and prosperity has been accomplished by common sense business. Moreover, economic realistic principles. Some of at times were very poor one Let me be specific.
The President Carter years proved that philosophical premise and lack of common sense produced an economic disaster. High interest rates,loss of political credibility in other words a perceived instability by our allies.
The government has never been a good manager of anything except produced unsustainable programs that produce very few results except debt.
The government and the GNP make money in three was. Taxes, sale of bonds and exports. When we have high unemployment we have fewer spenders thus small companies suffer and lay people off. The issue is the cost of our national debt. One can not sustain prosperity by selling a internal consumer market . The reason is thee US consumer can only consume some mush before it has to borrow money.
High interest cause a never ending debt and that is where we are today. printing mney with very little real value. Our allies will stop buying our debt and loaning money to us because it is not sustainable to there own economic well being. With the curtain spending free with in sizable exports and a economy loosing jobs and owing money The system their America we know will collapse into financial a melt down .