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 Such is the decrepitude of this outdated, severely dangerous social order.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