At its core, the problem with the banks today is twofold. First, we don’t make anything anymore. Which means we don’t “create real wealth.” More on that in a minute, but the bottom line is that we don’t have any sort of bottom line – there’s nothing to catch us as we fall, because we don’t have a manufacturing base to fall on like we did in the 1930s. More from Air America...RMAN: I'm afraid this is precisely what I've personally thought--that the US was taking risks with both deregulation and the shipping of our manufacturing industries to China and Malasia and Taiwan. But I never saw anyone in the media say it. Now they have. Ewww. That would make us in bigger trouble than everyone thinks and I hope this guy is full of crap because if he ISN'T, we'll be in the shitter and won't be able to climb out.
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