Truthdig - World Economy - It’s Not Going to Be OK - by Chris Hedges

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World Economy - It’s Not Going to Be OK - by Chris Hedges

The daily bleeding of thousands of jobs will soon turn our economic crisis into a political crisis. The street protests, strikes and riots that have rattled France, Turkey, Greece, Ukraine, Russia, Latvia, Lithuania, Bulgaria and Iceland will also descend on other nations including the US. It is only a matter of time. And not much time. When things start to go sour, when Barack Obama is exposed as a mortal waving a sword at a tidal wave, the United States could plunge into a long period of precarious social instability. Our profligate consumption is finished. Our children will never have the standard of living we had. How will we cope with our decline? Will we cling to the absurd dreams of a superpower and a glorious tomorrow or will we responsibly face our stark new limitations? Will we heed those who are sober and rational, those who speak of a new simplicity and humility, or will we follow the demagogues and charlatans."

Sheldon Wolin (86), who received his Harvard University doctorate for a dissertation titled Conservatism and Constitutionalism: A Study in English Constitutional Ideas, 1760-1785 and who taught political philosophy at the University of California in Berkeley and at Princeton says: “The basic systems are going to stay in place; they are too powerful to be challenged. This is shown by the financial bailout. It does not bother with the structure at all. I don’t think Obama can take on the kind of military establishment the US has developed. This is not to say that I do not admire him. He is probably the most intelligent president the US has had in decades. I think he is well meaning, but he inherits a system of constraints that make it very difficult to take on these major power configurations. I do not think he has the appetite for it in any ideological sense. The corporate structure is not going to be challenged. There has not been a word from him that would suggest an attempt to rethink the American Imperium.”