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American corporations find their unwillingness to pay their workforce a living wage now results in the majority of americans being unable to pay the bills. no repayment = corporate america on the rocks.

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Dec 7th, 2009 at 04:48:19 PM EST
[ Parent ]
Sadly enough this is still just another part of the same stupid real estate bubble coming down.

Would've hit even if they'd pay workers better these days.

Though there's an argument (which I like) that the bubble wouldn't have been as big in the first place if there hadn't been as much capital slushing around relative to median incomes.

by nanne (zwaerdenmaecker@gmail.com) on Mon Dec 7th, 2009 at 05:29:10 PM EST
[ Parent ]
Decent pay balanced with stricter lending criteria and even more strict limits on investment-level gambling would have done the job.

Unfortunately that would have benn incompatible with the fervent US worship of social Darwinism, which believes in the inalienable right of the banking industry to impoverish people, and then punish them for being poor.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue Dec 8th, 2009 at 06:27:42 AM EST
[ Parent ]
middle class America before the Chinese take over, without a shot or nuke being fired, I think all is going well.  Hope the Chinese children like a slightly warmer climate with more insects and scarce food.  But what the hell, they're still breathing and that's all that matters, right?

In the end, might makes right. Nothing has changed since the caveman.
by THE Twank (yatta blah blah @ blah.com) on Tue Dec 8th, 2009 at 06:00:44 AM EST
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China's problems are massive.  It doesn't get much press in the US, which fuels the "fear China" idea but in reality they face far greater challenges than the US in nearly all ways.  
by paving on Tue Dec 8th, 2009 at 03:05:46 PM EST
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... but in reality they face far greater challenges ...

I'm curious about the "they".  Do you mean the power elite or the average citizens?

In the end, might makes right. Nothing has changed since the caveman.

by THE Twank (yatta blah blah @ blah.com) on Tue Dec 8th, 2009 at 03:15:40 PM EST
[ Parent ]

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