The First Stages of Collapse

This current economic crisis has indeed claimed its first casualties. Millions out of work, houses too expensive to occupy but worth nothing since they're underwater on the debt that financed them and the banks in too precarious a position to forgive the loans (or so they claim). Without incurring further debt, we will continue to have a stalled or broken economy; but since the current raft of leading economists fail to see debt as it is and chose to see it as an inconsequential element, no one is talking about these factors.

In fact, I'm not going to talk about these factors today either. I'm going to rant about what people blame are the factors to our economic funk but actually aren't: Taxes. Fact: We in the United States today pay very little in taxes compared to past years of prosperity, especially those of us who make what most would technically refer to a shitload of cash. Follow-up fact: All many of us can do is bitch about how are taxes are not historically low, but too high.

When the so-called media joins in the chorus of hallucination and mendacity, though, ( I have to take exception. )

X-posted to talk_politics.