Economic malaise, lost decade... get used to these terms

that is exactly where we are going... and you saw it begin... the machinations of the pro business party... and small owner friend... has won...

And if any of you believe their victory is good... no, not really.

In time even those applauding this right now might learn exactly why.

Yes, (assuming it passes) it is better than default (we will be here again in six months)... but it is not good...

Japan comes to mind, in fact.

Enjoy.

PS this will get even more people either not interested in politics, or not have time for it... I mean when you have to work several part time jobs to sort of make it... you do not have time for this. And that is the perfect environment for the rise of extremist movements.

Japan may be stagnant in some respects, BUT...

1. People still have near universal health care.

2. Education remains one of the highest in the world.

3. Unemployment is no where near US levels

4. Families are used to living together in multiple generation households

5. Income inequality levels are NOTHING like the US

6. Crime and violence? Not like the US, not by a longshot

Japan is the country that people are going to to keep their money secure. This shows that the world has great confidence in its ability to keep its house in order despite the recession and despite the low-interest rates there investments yield. The yen/dollar rate is horrible now and getting worse and the yen gets stronger due to all the people dumping dollars and buying yen.

Japan's ethic of hard work, good education and savings --that exists in a huge majority of its citizens --will position it in a good place to recover.

What is the US's long-term chance of recovery when over 50% of its citizens don't even believe in evolution?

The US should WISH it was in Japan's place.

there are differences, but there are also systemic similarities as to why it happens.

And I could use oh Mexico, Chile... Argentina... perhaps a few countries in Africa... or in ten years Greece.

The terms will be used, mark my words. People who understand what an austerity does... get it.

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but people will be forced to work five hours here, ten there... and so it goes...

What is coming is nasty...

And none of those will be middle class salaries. Worst case, like the 1930s, when people worked when they could... and begged when they could not.