U.S. Titanic: Is the U.S. Economy and Big Business too big to sink? By Bill Glynn

Too big to fail! We have heard this time and time again. Through the history books we heard the same story about the Titanic. Industry after industry keeps running aground as the government continues to bail water out of the sinking ships. How do we save the ship when the life rafts have already been used? What’s next? Pensions, hedge funds, retailers, airlines! How can the U.S. keep printing and borrowing money to plug the leaks stay afloat? IT CAN'T. The collapse of the U.S. economy is upon us; the ship hit a mortgage iceberg first, then insurance, and keeps ripping the hull at every turn. Bush was right to call Wall Street drunk (and I throw in politicians, too). Remember Exxon Valdese? The people steering our economic ship were drunk and now even hung over, their heads are not screwed on right. while government believes bailing out companies that are too big to fail (like AIG) we all sit in the second and third decks locked in like rats, powerless to do anything but drown. The bread lines we are so familiar with that represented people during The Great Depression have been replaced by companies and entire industries. Everyone is looking to get a handout, bailout, some way out. But government is not the answer. [more...]