The ghost of Bushist economics, its roots in Reaganomics, will haunt America for the rest of this century.

Very goood article, larre.

I have been a "Janus" about this for years.
Warned and warned about too many paper profesionals, attorneys, funny money boys, and hot air univ fields.

Americans had best start taking it upon themselves to be making concerted actions as American Citizens to defend this country and its economy.
This has been a war on us in several ways.
(& have not been kidding about getting all non-twenty year citizens off govt. benefits use; means-testing for Medicare, and so on)

Salaries, professional fees, slice away at govt. employee costs on all levels,etc. must be sliced and sliced (without putting head of households out of doing something for a basic living wage).

Whatever Boston Tea Party type squads needed, well......

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Added notation: The Asian countries have let about zero into their countries for years. Been smiling at you. (now, what high end products making to send?)

And, all the funny moneys in the hot money pyramid of ultra high priced real estate.

Great article by the Toledo Blade. It's simple: follow Bush and watch the US economy go down the tank just like all his business adventures. People running around singing praises about the economy on the upswing are dancing under the sword of Damocles. A crushing debt and fleeing investors is no cause for celebration.

Added: This is the result of what I described above--which no one who went to college ever wanted to address nor did anyone who wanted live like like a yuppy (and now guppy offspring which is continuing in the same overconsuming and duped downward spiral).
Clinton & Dems signed NAFTA. (just see Rep. from OH--Sherrod 's book on trade deficits)
The empty ships returning to Asia started
just about 15 years ago.

AND: During Clinton & his crowd, "China" obtained massive amounts of sensitive and other technology, including sensitive satellite & missile guidance info.
Trade Deficit for a year was = to 1 mo. of present stats.

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Of Independents with Use of Reason Segment

Alex,

Don't forget Cray supercomputers.

Nice comment. BH has an interesting way of managing its market capitalization. Its very interesting to compare their longer term strategy to the short term strategy of most other Corporatists. The CEO's salary compensation is also a great example that no one is going to follow.

Having said all of that, they're in business to earn profits. Still, I'll be interested to learn more about them than what is covered in Fortune Magazine.

I am happy that someone has finally made a comment about excessive executive compensation in this country. It is absolutely absurd and counter-productive to any good business model. Now as to the points of Greenspan, he is completely wrong about the need to keep tax cuts permanent and deficit spending continual. This has weakened the dollar to a tipping point from which it will be very difficult to recover from. Strenghtening the dollar requires the austere measures of tax increases, budget cuts, and trade deficit reduction. No if and or but. We really need to have this guy gone.

The interesting thing everyone here is missing is that Buffett is taking his money out of the game!

He talks about the billion+ dollars that flow out of the nation monthly, but his money is already 2/3 out of the nation as of about a month ago when I posted on this topic. The 'Oracle of Omaha' has thus decided that this is a lost cause and is getting out while the getting is good. The sheep that make up the investor class will follow blindly in his path, and there goes the funds that keep this nation afloat.

This was the basic scenario that brought about the Great Depression: the rich pulled their money out because they didn't like how the game was played. Today's reasoning is instead that they have to 'pay too much' for the privilege of being rich, so in revenge they will impoverish the rest of us when they leave. That time is upon us.

Take your money and go. We don't need your corruption any longer. Your slap in our faces will act as an economic Pearl Harbor, awakening sleeping giants and filling them with terrible resolve!

You know how much we accomplished the last time that happened.

We will survive your departure - and you will be missing us far more than we will be missing you.

pessimist, I'm not following you. WB appears to be completely transparent by stating that he thinks the dollar is goign to fall and he wants his money elsewhere. You and I are just as free to exchange our dollars for euros, yen, or whatever. Why is that bad?