Trends in Unsustainability

capitalist cycle I realize that “financial services” explains some of the number and that the baseline is last year’s anemia, but, nevertheless, this quote from today’s New York Times is worth noting:

“Things are better, but they’re not anywhere near where they need to be to make major inroads into unemployment,” said John Ryding, chief economist at RDQ Economics.

The item that is “not anywhere near enough” to trigger meaningful job creation by the Obama-worshipped, cash-hoarding “private sector?” Last quarter’s 3.2 percent rate of overall economic growth.

So, this is where we’ve allowed ourselves to be taken: A rate of economic growth of the bloated, hyper-distorted, massively wasteful U.S. economy that is wildly, insanely unsustainable in the ecological terms of the 21st century is now nowhere near fast enough to make capitalism do the first, tiniest bit of trickling down.

Such are the wages of letting the overclass buy up everything and impose its supply-side priorities* everywhere. Such is the decrepitude of this outdated, severely dangerous social order.

*“All for ourselves and nothing for other people seems in every age of the world to have been the vile maxim of the masters of mankind.” — Adam Smith, The Wealth of Nations

0 0 vote
Article Rating
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newest Most Voted
Inline Feedbacks
View all comments
Robert Guy
Robert Guy
9 years ago

Heh, things only trickle down if there are still holes in the bucket you’re pouring things into. It is as if the system has become a pour-over phenomenon, that is when the only time something gets out of the bucket is when you’ve filled it to overflowing and some pours out over the sides. So no one who is not in the upper tiers of capitalism’s controllers will see a drip of it until those receiving the direct benefit of the efforts of the millions to produce value in their personal lives are so stuffed they can’t swallow another morsel.… Read more »

Michael Dawson
9 years ago

How true, Robert.

It confirms Adam Smith’s line about the vile maxim of the masters of mankind: Everything for ourselves, and nothing for others.

Alas, Frederick Douglass was also right: Power concedes nothing without a demand.

Would love your thoughts, please comment.x
%d bloggers like this: