Markets Fall As Lender Woes Keep Mounting

http://www.nytimes.com:80/2007/08/04/business/04stox.html?ex=1186891200&en=b7370fe24ff1c444&ei=5070&emc=eta1 "Past borrowing now costs Americans so much in debt service that more borrowing is required to maintain, let alone expand consumption." http://mrzine.monthlyreview.org/wolff151005.html Well Duh! Work (that is to say, the kind of work that provides "disposable income", and is more than daily hand-to-mouth) is being outsourced as fast as one can pronounce the word. With the delayed effect that is inherent to any dynamic system, the effects of outsourcing are only now coming into play, as disposable cash is being concentrated into fewer hands, and away from the middle class on which the entire economic system of the US depends.

Note: http://www.nytimes.com:... http://mrzine.monthlyre...