State of the People’s Republic

From President Obama’s State of the Union address.

We can’t afford another so-called economic “expansion” like the one from the last decade — what some call the “lost decade” — where jobs grew more slowly than during any prior expansion; where the income of the average American household declined while the cost of health care and tuition reached record highs; where prosperity was built on a housing bubble and financial speculation.

Interesting that this sounds a whole lot like the so-called economic “expansion” here in China…

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