Because: banks fail to lend, corporations fail to hire and pay living wages, exploiting cheap, even slave labor, all around the globe. Both banks and corporation focus on accumulating large cash reserves.

 

The latest booms, fueled by speculation in high technology, on real estate, and consumer spending, ended in 2007.

 

Proponents of law-of-the-jungle-free-market-capitalism require the dwindling middle class to show restraint and to tighten their belts. The wealthy sit on their considerable assets and rule by fear; the dwindling middle-class quickly becomes insolvent with no way out, unable to tighten any belts.

 

USA suffers from untreated bipolar disorder with the boom parts of the cycle as manic episodes and the bust as depression.

 

From the late 90′s up to 2007 the euphoria of mania ran the psyche of most USA owners of capital and owners of labor. Our global consciousness reached rock bottom, with constant anxiety, fear and a deep sense of loss floating over our heads like the sword of Damocles. However, the advocates of free market economy still view the manic-depressive cycles of boom and bust as a “normal”, an almost natural phenomenon.

 

Therapy to “heal” USA’s psyche becomes a heal-as-you-go process.  Capitalism is clearly not working out for most citizens of the world. To get on track for a sustainable economic recovery we must first put in question the sacrosanct dogma of a free market and its manic-depressive manifestation of the boom and bust cycles.

 

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