To the extent that the current American economy is in crisis, it is one with the productive forces of the economy (businessmen, scientists, engineers, and so on) have been consistently attacked by the parasitic forces (speculators and politicians). Now, given our Republican form of government, these parasitic forces play a useful role: they prevent the government from adopting the sort of coherent policies that could lead to the elimination of the productive forces. Still, the parasites make us worse off.
Our situation compares unfavorable to the People’s Republic of China, which instead of giving billions to the Oligarchs, is opting out of the worldwide recession through massive investment. This is especially bad, considering all the areas where we could invest (instead of simply spending billions rewarding those who supported Obama). We could develop complex new drugs, investigate subtle genetic associations, expand our knowledge of space, or of race, and supporting nuclear energy.
Indeed, we waste billions on banks, but arrest Americans who refuse to turn their homes over to front companies of the federal government. Obama’s policy of Lemon Socialism is turning homeowners into criminals while giving actual criminals billions.
As Judge Rakoff said, this is all half-baked justice at best.
Fortunately, we are not completely adrift under Obama. Private space exploration continues, high-tech industrial collaboration with China moves ahead . And it must be said that under Obama, Bush’s unprecedented attack on our existing public education system has only gained strength, Brookhaven National Lab is heating atoms to four trillian degrees celsius, video game weapons are in development, Western Digital is conquering quantum space so you will never need to delete an episode of LOST again, Google builds futuristic AI models, and Microsoft expands from just Office and Windows to amazing online services.
In other areas the parasites seem only able to slow down progress, as Google once again tries to digitize our literary past, record companies delete legitimate blogs, lawyers sue companies for not having a politically correct workforce, and the FDA slows down approval of generics.