The U.S. Economy Has Fallen

Dr. Michael LaitmanOpinion (Michael Chazin, economist): “Americans have admitted that politicians are sober people and understand that sometimes it is better to admit: there is a fiscal cliff. The reaction of experts: the worst expectations in relation to the fiscal cliff have come true. The actions of the U.S. government become completely predictable. There are no real actions to combat the crisis; there are no explanations, just a reference to the ‘objective’ factors. …

“The question is what they will do next. The recession will increase, there can be problems with the U.S. rating, and it is far more dangerous.

“Another option is to force the banks to lend to individuals despite the fact that they will not return them. But as soon as it becomes clear that the loans do not have to be returned, citizens will start spending money on silly things. It will give a surge in sales, but salespeople will use this opportunity to raise prices. This will be ugly and minimally effective.

“How will the U.S. government compensate for falling demand that causes an economic downturn? The GPD data should not be misleading: the growth of personal consumption expenditure is associated with permanent compensation; these expenses are much higher than normal household income. …

“In the EU, citizens are suggested “to tighten their belts.” It is possible that the U.S will choose this course as well. But the U.S. Federal Reserve is not going to tighten monetary policy. The authorities are in a state of dilemma; the crisis continues, there is nothing new in this.”

My Comment: Restructuring, resetting, rebooting, no matter what, but everyone will have to listen to the relentless law of nature. Life develops and exist only due to the combination of two opposing forces “reception and bestowal” (egoism and altruism) in the middle point between them, in the middle line if we consider the point in motion. Instead of including egoism along with altruism, we should use it wisely, carefully including it in the property of unity, in altruism, for the development of integral relationships. In this case, we will develop in harmony with nature.

Related Material:
“US ‘Fiscal Cliff’: Tax Crisis Pending At Year-End”
A Gradual Realization Of A Dead End
The Recovery From The Crisis Is In Self-Correction

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