In 2012 I will say goodbye to the junk economy. It is the economy stupid that is creating all the problems in the world today. Specifically it is the junk economy. Government too big says The Tea Party. Wall Street too greedy says Occupy Wall Street movement. Both complaints should really be directed at the junk economy. Problem is we all built and maintained the junk economy - we are all to blame for its growth and now for its failure.
The junk economy lasted nearly 30 years and in its final throws it was based on wasteful consumption fuelled by cheap goods (low cost production in china) and easy credit (too much liquidity in banks).
The junk economy is over...... what's next?
Posted by richard-lipscombe
at 10:17 AM EADT
Updated: Tuesday, 3 January 2012 10:27 AM EADT
