Fiscal responsi.. wha?? - America's Economic Collapse

Reading various articles @ Watching America.com I get the strong impression that many people around the world are shaking their heads with great disapproval at recent actions of the American government and the American people themselves. Actions taken in attempt to remedy the global economic crisis. It really seems that our government is missing the point entirely. It's so busy trying to cling to the 'fake economy' (based on credit, massive lending and transitive bonds) it can't even the room crumbling around them.

We've spent decades coming up with convoluted economic systems that in effect magically create debt without exchange of any goods or services, as seen in sub-prime loans, unregulated interest on credit, etc. It was so easy for companies to make money off the fiscal ignorance of the American people.

What kind of world is it where companies can quite simply "oh btw ima raise yer interest kthnxbai."? It makes absolutely no sense and undermines the foundation of our entire economic system. You can't expect more money without offer of any service or goods.

Consistently I hear President Obama offering words of hope, that the stimulus will inject enough money to keep us afloat, that we should continue to consume as 'normal' in an attempt to put money into the economy, that the recovery rests upon the backs of the workers. Sure it sounds comforting but I'm deeply and sincerely concerened that we're on the precipice of a massive collapse.

“An economic depression, although traumatic, is not the end of the world... Moreover, if managed wisely, it can deliver fundamental benefits: a cleansing of excess debts, a reduction in the cost of living, and a firmer foundation for subsequent growth.” - U.S. financial analyst Martin Weiss