John Robb’s essay on America’s current state of affairs might be the best thing you’ll read all day. His analysis is interesting and connects the dots in ways that I haven’t come across anywhere else.
The result of central planning in the US has finally hit the wall. The list of problems is endless. The misallocations range from the dangerous $600 trillion derivatives market to the destruction of the US middle class (by exporting jobs and the substitution of income with debt).
The end result is that our economic and political system has become very fragile. All it will take is is one extremely bad decision and the cascade of failure that follows will catch everyone off guard.
Robb is essentially arguing that the current state of the US is no different than Russia in the late eighties. All it’s going to take is one stupid decision to push us to the brink. [via stellar]