This is one comment from the article. Jury is still out on all of this.............
In Zero Hedge’s defense as a Twitter follower of theirs, they mock Romney and Gingrich as they do Obama. I think they are in the Ron Paul camp politically to a large degree, but are not as overt in their endorsement of him as they have been in the past.
I think a lot of us are suffering from recession fatigue. We went from a financial crisis to a meager recovery to Europe imploding to Europe is contained to the US Gov almost shutting down to the US Gov nearly defaulting on its debt to Europe almost imploding to currency swap lines being opened to Greece being saved or not to here we are today. Throw in the bankruptcy of American icons like GM, Chrysler, American Airlines, Kodak, on the heels of the 2008 financial collapse and it’s enough to leave many heads spinning. We’ve been through a lot these last 4 years.
People have been lied to and for a lot of Americans that trust between government-markets-media has been broken. People were lied to about Iraq and the justification for invasion. They were lied to about the value of their homes. They were lied to about the safety of their jobs. They were lied to about the government’s commitment to get the economy growing at a reasonable rate in a reasonable amount of time. They also lied to themselves believing their declining wages over time could be substituted with credit cards at 20% interest that could take the wife and kids to Disney World in place of the annual bonus. Or that HELOCs on ever increasing property values could never go wrong.
I see a culture in this country that repeatedly rewards failure, idolizes the absurd, and demands Americans live beyond their means regardless of their circumstances. Considering where we were, where we went, and where are now, it doesn’t leave a lot of room for optimism.
Until that trust is repaired, it’s going to be a very long road ahead.
http://www.ritholtz.com/blog/2012/02/no-rick-santelli-and-zero-hedge-one-million-people-did-not-drop-out-of-the-labor-force-last-month/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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