A little irony to consider on the brink of a new year, Save Jerseyans:
America’s economy continues to suffer, in part, due to our country’s inability to adjust to vastly-improved foreign competition since the fall of the Soviet Union. We’ve discussed this disconcerting dynamic (and liberal economist’s ignorance of it) extensively in 2012. The ironic part? Europe’s financial weaknesses have also served to temporarily shore up our own in the eyes of key global investors.
“Temporary” is the key modifier. Tomorrow’s “fiscal cliff” is just phase one of the trouble ahead.
I’m sorry to play the role of a wet blanket ahead of tonight’s revelries, but here’ some must-hear post-election perspective from investment guru and conservative commentator Peter Schiff: