The Fall of the Empire

Is America doomed?

No, I don't think it is.  However, we are fast approaching a period where drastic change may or will be required.  What type of change?  I don't know.  It's the type of change that people cannot predict.

Will it be a violent change?  Doubtful, but one cannot rule it out.

But, change will be necessary.  I no longer have faith that my government is a government for the people.  Our government has allowed special interests and companies to dictate domestic and foreign policy for too long.

Our government has allowed companies in specific sectors to dictate policy which allowed those sectors to bend and break the rules to their advantage.  Unfortunately, our government gave an inch, and these sectors grabbed a mile.

Tech sector - Communications act of 1996.  This law loosened the rules and oversight of telecommunication and tech companies.  The bubble started to build here, and grew until it finally burst around the fall of 2001.  This, along with the 9/11 attacks hit our economy quite hard.

This sector has cleaned house, cleaned its books, and optimized their products (there was a glut of "dark fiber" in 2001.  This is fiber optic cable that is in the ground, but not being used.  As such, there was more product, then there was demand), and gotten rid of the majority of its bad apples, and is now on the rebound on Wallstreet.

Housing sector - I can't pinpoint any exact law or year (sometime around 2001-2003) as to how this bubble started, but loan companies were able to provide housing loans to people who probably shouldn't have been given loans due to poor credit and what not.  This bubble burst this year as 5 year ARMs hit their 5th year, and people had to start paying higher and higher mortgage payments.  Foreclosures are on the rise.  Unfortunately, the majority of these are necessary to cull those that shouldn't have been given a loan to begin with.  (unfortunately, others, who did deserve loans, are also caught up in this.)

Lastly...  Oil.  Doom and Gloom is being predicted.  Fuck that.  This is a bubble that keeps growing.  It will burst.  It did back in 1980 (or '81) and our gas prices will drop.  We'll never see gas under $2 a gallon ever again, but it will drop from whatever high it reaches.  If the bubble doesn't burst, then the seeds of change will begin to take root.

Meh...  I ran out of rant gas there at the end...  sorry.