No Change

Doesn’t it sometimes seem like we’re caught in some kind of Twilight Zone or Outer Limits episode where nothing ever changes?  Every week or so they’ll be some big story that dominates the news, and when the coverage finally subsides, we realize we’re right back where we were before.

So it is with the Supreme Court health care ruling.  We now know that the Affordable Health Care Act (h/t to Cousin Jeff) has survived, and when we raise our heads and look around, things everywhere are still stuck in neutral.

Guess what?  European leaders are having another meeting to try to figure out how to solve — once and for all! — that sovereign debt crisis that never seems to end.  (Hey, but this time they’re serious!)  The European debt crisis must be the longest-running, most ineptly handled financial crisis in history.  We keep hearing that the crack-up is coming, and it surely is, but European leaders merely respond with another “summit” that produces talk and resolutions and a shrimpy bailout approach that doesn’t do the trick — and in a week or so the process starts all over again.  In the meantime, economies are moribund, and the European unemployment rate rises.  It’s like a kind of torture, wondering when the big, crushing crack-up will come and the European “leaders” can dither no more.

In America, different pieces of economic news roll out every week, and they’re inevitably bad.  Consumer confidence is falling.  The unemployment rate is ticking up.  Home prices are dropping again.  And most recently we learned that the domestic manufacturing sector of the economy, which had been a relatively strong performer, is now contracting.  There don’t seem to be many glimmers on the horizon, or “green shoots” in the American economic soil — just more of that sapping, ever-present bad news.  We’re being conditioned to cringe in anticipation whenever the business news is announced.

Could Rod Serling please appear and bring this episode of unrelenting sameness to an end?

2 thoughts on “No Change

  1. Lucky not to lose power here, but cable was out until about an hour ago. Enjoyed catching up on the Webnerhouse news. Thank you for the posts.

    Just a comment or two regarding the Supreme Court’s recent decision on the constitutionality of the “Affordable” Health Care Act. What caught my attention was not the decision itself, but rather President Obama’s post-ruling comment basically asserting that every person in the country is entitled to first rate health care because the United States of America is the “richest country in the world.” Affordable health care for all is surely a laudable and moral goal, and the U.S. is no doubt the “richest country in the world.” However, even this country is clearly not rich enough to sustain the current level of government spending.

    The federal government brings in something in the neighborhood of 2.5 trillion dollars a year in revenues,but is spending in the neighborhood of 3.5 trillion dollars a year. Although the government can borrow (which it has been doing),and print money (which it has been also been doing) to cover this “deficit spending” for several years, it will not be able to do so indefinitely and with impunity. If such a fantasy scenario were possible, Greece (and Europe at large) would not be in the midst of the self-made “crisis” it is currently experiencing.

    Well- that is actually more than I had planned to write. My point was just that the President’s post-Supreme Court decision comments are consistent with my belief that his primary focus has never really been on improving the economy or addressing the government’s massive deficit spending.

    Thanks again for the buffet of Webnerhouse posts.

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    • Mike, the entire scenario seems to me to be imaginary. Powerful people blathering on about crisis, austerity, and change with, as WB points out, everything stagnating in an endless loop of sameness. The monetary system seems a charade while natural resources are pillaged in the name of consumption. The G20 countries appear to be populated by self-involved gluttons. If change were the desired goal, shouldn’t it have arrived by now?

      What do you think Obama’s motivation is? I haven’t been impressed by massive spending thus far. I wonder why there has been little to no investment in our massive crumbling infrastructure but there is funding out the wazoo for colossal failures like Solyndra.

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