Meanwhile, In The Global Economy

Another entry from Dr. Krugman's blog -- he mirrors my thoughts exactly.

Once I thought they were "stupid". Then I thought they were "misguided".

Now, I KNOW none of "our" leaders give a damn about any of us. Unless you can afford to buy a Congressman, you have NO VOICE in government.

I'm not yet to the point where I really believe in "The Mother Of All Conspiracy Theories" -- that the rich and the wealthy are working to put us all under their control - in a neo-feudal TIGHTLY controlled system, with NO mobility - PERIOD.

Not yet -- but if stuff doesn't improve -- soon.

Anyway, on to Dr Krugman - please follow links to original
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Meanwhile, in the Global Economy

Bad news all over. In the US, Manufacturing growth hits lowest level in 2 years. In Europe, my favorite current indicator of the eurozone crisis, the Italy-Germany bond spread, has blown out again. And while part of this is due to falling German rates — which, like falling US rates, reflect growing pessimism about growth — the Italian bond rate is once again at 6 percent, a level that invites a self-fulfilling debt spiral.

Oh, and in Britain, poster child for wonderful expansionary austerity, we have this:

For the fifth consecutive month, the manufacturing sector has disappointed expectations. In the past six months, the headline composite index has crashed by 12.5 points, a record only exceeded post-Lehman in 2008. Output has been slightly better behaved over the past few months, but July’s 2 point decline to 50.6 leaves it slightly below May’s trough. Worryingly, the temporary supply-chain disruptions that depressed output in May appear to have eased, indicating that July’s weakness might be more structural

I’m so glad we have a deal that will bring the confidence fairy to our rescue!