Tuesday, August 3, 2010

I say Manhatten, they say Apollo

Humanity needs to take 'giant leap'

But what ever they call it, if it happens, it's going to have to be BIG

Of course they plan on taking a decade to get going, by then it could be too late.

And wow... parasitic? or cancerous?

Meanwhile, the financial system has strangled U.S. growth by parasitically growing from 3% of GDP in 1965 to 7.5% of GDP currently. As Jeremy Grantham pointed out in his quarterly letter to investors, financial services were sufficient for the economy when they were 3% of GDP, but that sector grew by strangling GDP growth elsewhere. The nation's GDP growth slowed from 3.5% in 1965 to 2.4% between 1980 and 2007, and the slowdown occurred before our current crisis.

In other words, our bloated financial sector has been sucking the life-blood out of the U.S. economy for years, and recent decisions insure it will continue to feed off taxpayers, while the host economy struggles for life.

Stranguflation: Deflation and Inflation Where it Hurts America Most

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