Originally Posted by 450slcguy

No, there will not be a recovery in the foreseeable future, if ever. We'll be lucky to limit our demise to a few percentage points a year.

What is it we expect to recover? Our manufacturing base has been virtually decimated, and we routinely export those jobs. Manufacturing and industrialization is what made our country prosperous. Our economy now is based on imported energy, Chinese consumer goods, cheap labor, and deficit spending. Not exactly a formula for growth or recovery.

Our bedrock financial institutions are collapsing and are only held up by large infusions of borrowed government money, of which we're unlikely to ever recover. In the near future, the interest on our national debt will be more than the revenue collected. The government is basically bankrupt, merely surviving by printing unsecured paper. Sooner or later, that paper will become virtually worthless.

I think we're way past the point of recovery. One cannot recover without changing the habits that got us here. Our government, financial institutions, and Corporations sold our countries future for a few good years and for the benefit of a chosen few. We are now witnessing he results.