Economics lesson: The U.S. slide into collapse

 

 

This is a well made video that explains hard economic topics in a simple and clear way.

US arrogance has come home to haunt the nation.

Or as they say in some places, the chickens are coming home to roost.

How much longer will the US be able to keep the massively expensive military production system humming along? 

Just last week Biden's Deputy Defense Secretary Kathleen Hicks came to Bath Iron Works for a tour. She was invited so Maine's so-called elected officials could stand in unity and proclaim they all support even more destroyers being built - to protect us from China and Russia. 

General Dynamics (that owns BIW) announced that if they don't get funding for two more ships in the 2021 federal budget it will need to cut its workforce by 2,500 workers.

The fall from grace is coming though - sooner rather than later. And no provisions in Bath or at the state capital in Augusta are being made to handle this inevitable economic collapse. It will rock the state of Maine hard because our state (like virtually all 50 states) is addicted to military spending.

Few choices will remain at that point. 

One big question - will Congress drain funding for Social Security and Medicare/Medicaid in order to keep the war machine alive?

People better get ready, there is a train a-coming....

Bruce