Summary |
The Great Recession was just the beginning, according to sought-after analyst Eric Janszen; if we remain on the current course, an even bigger catastrophe is imminent. Inclined to disbelieve him? He predicted the last two busts well before they happened.
Our problems, according to Janszen, are rooted in the flaws of the debt-driven FIRE Economy (Finance, Insurance, and Real Estate), which dwarfs, and is coming close to extinguishing, America’s “productive economy” – the making and selling of real things. The government’s tried-and-true methods of currency depreciation, tax and interest rate cuts, and fiscal stimulus won’t cut in this time around. The only way out is to change our fundamental approach.
The solution? Use private and public monies to develop major for-profit infrastructure projects in transportation, energy, and communications. These projects will spark employment and growth, reduce America’s dependence on foreign energy and our foreign debt, and improve the efficiency of the economy for decades to come.
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