John McLaughlin was right on last night. While the group members gave trivial answers to his year end questions, he went for the heavy issues. The current economic meltdown may actually be caused by globalism itself. And 2008 definitely saw the end of capitalism.
Which all goes to prove my own theory of economics: trickle up. I arrived at this conclusion based on a reaction to the trickle down theory of Ronald Reagan, obvious bogus. It is the buying power of the American consumer that drives the global economy. No American consumer clout, no global economy. Moving all the jobs overseas means taking away our clout. We've been trying to maintain our superiority through credit buying, but obviously this can only go so far.
Thus trickle up. Wealth trickles up from the masses, and until we realize that we are doomed.
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