THE BLOG
10/12/2011 11:18 am ET Updated Dec 12, 2011

The End of American Business: Not With a Bang but a Whimper

Nothing looks good. It seems obvious that Republican obstructionism is designed only to get a Republican into the White House -- at any cost to the country -- in the coming presidential election. The major Republican goals are to avoid raising taxes, particularly taxes on the very wealthy, and to roll back regulations that hamper business no matter if the regulations protect not only consumers but business itself.

It's madness. The reason it seems like madness in Washington now is that it's indeed madness.

It's also a tragedy. Truly, there is no way to save our future without raising taxes and the government using the tax money to get people back to work as quickly as possible -- to increase consumer demand, which will increase business, then increase hiring of new workers in a new growth cycle. Everything else is a pipe dream sold by Republicans and too many Democrats, baloney to brainwash the booboisie. American business is based on consumption of goods and services -- not on "confidence" of business executives resulting in hiring of new workers in the absence of demand. Without demand the American free market economy heads into a ditch, and with 25 million unemployed or underemployed there will never be enough demand to get out of the ditch no matter what the "confidence" of the business community.

It's Coolidge-Hoover lala-land all over again.

Under George W. Bush, Republicans inherited a surplus from the Clinton years, quickly blew the surplus away with a tax cut for the wealthy, then plunged the country into huge deficits with an unnecessary war whose real purpose was probably to avenge the attempted assassination of George W. Bush's father by Saddam Hussein and to also provide huge war contracts to a number of well-connected corporations.

So what lies ahead? If the present political madness continues, our future will see our economy in a ditch. Probably at least for a miserable decade.

And it seems to me we will not come out of it without a repeat of the ending of the Great Depression -- a major all-out-effort of a war that will put the unemployed into defense factories working full blast with government contracts paid for by what? BY TAXES!

Oh, there will be plenty of taxes, taxes out of everyone, including the rich. In a major all-out war the rich will have no choice but to pay through their noses for it. Today's political nonsense is simply pushing taxation down the road by political imbeciles who think the future is merely a continuation of the present.

If that were all, we could survive it. But our survival will not be that simple. Who, please, will we fight in a major war? The only possibility is China.

But China is a country with five times our population and a country on the verge of state of the art technology. In ten years China will be far ahead of where they are now.

We will not win a major war with China. We will lose an all-out war with China. They will out-produce us and out-man us. We will fight a tragic lost war with an ironic consequence -- the end of "free market" capitalism in America.

What an irony! Present free market conservatives, now yapping all around us like hound dogs, will throw the country into a ditch and then into a lost major war with the consequent ending of the American free market economy.

Will it really end? Yes, it will really end.

America after a major war a decade or so from now (if anything is left here) will be a mixed economy and not a free market economy -- and you don't need to be an economist to understand that. Free market capitalism is not a religion, it's only an economic system, and whenever and wherever it fails society it gets booted out the door. It has happened before and it will happen again.

Republican politicians are now demonstrating they will fail society out of sheer stupidity.

This is the course our current imbecile political and business communities are pushing us toward. A big push of capitalism to destroy itself by greed for short term gain and consequent long term destruction. What should we call it? Here's a name for it -- THE GREAT SURGE.