Romney may get lucky. It's possible that the economy may get worse, so worse that even the blind will see the failure in Obama's programs. Romney will be the winner, but the American citizens will be the loser. Why? Not because of Romney. But because we will still live in an economy that can not be fixed in the short run. Can Romney fix it? No, because the economic problems are systemic.
For example, productivity, a good thing, is a bad thing too. Fewer people can produce more things. Manufacturing is destined to head for the lowest wage countries. And there are still many of those left. The Internet is geographically independent. And so on.
The exported overseas jobs, despite the occasional rhetoric to the contrary, are not coming back home. Why? Because the American economy is joined at the hip to every poor economy in the world. Our banks and investment institutions have been seduced by high foreign interest rates and disregarded the associated risks. When they stumble, we stumble too.
Christopher Columbus' detractors may have been right. The world, the world economy anyway, is flat and we are rapidly sailing off the edge, linked inextricably with other countries, together. America may have had its 100 years of history as the leader of the world. The Greeks had 400 years or more. And now two thousand years later, our economy moves with theirs.
There is a solution. So keep reading. I will be opining on the solution in the next few blogs.
Keep my economy alive.
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