A conservative economist named Woody Brock has written a long, persuasive analysis that the Obama administration is taking us down a dangerous path on the economy. Brock's primary thesis is this:
The fact that the U.S. is temporarily taking on truckloads of debt to fight this crisis is actually not as big a concern as many people think. The debt is fine if we put policies in place to reduce it going forward. Unfortunately, in Brock's opinion, we're not doing that.
What would the right policies be?
1. Policies that encourage growth, including less regulation, more immigration, and more infrastructure spending to drive future productivity gains;
2. Reduced government spending as the economy improves.
Brock observes that Obama's current agenda is almost the opposite -- slow growth, more regulation, permanent spending increases, and the wrong kind of spending (on entitlements and social programs, not infrastructure). He thinks this could eventually lead to disaster.
I voted for Obama, and I think he's mostly doing a great job. I also don't agree with everything Brock says (obviously, we need to tighten some regulation). I must admit, however, that I find the hear of his argument persuasive.
I've posted Brock's whole argument on The Business Insider.
Executives=300 to 500 times income of Average Worker
Executives Income 30,000% to 50,000% the Income of the Average Worker
# ! Greediest Nation = # 1 Debtor Nation = America = BANK Owned Federal Reserve Debt System
The ever-widening gap between the upper 2% and the rest is growing. This is what it means when over 50% of the population is below average. A 10% differential between the proper norm and the real numbers is a serious social problem. Having more and more rich people does not automatically translate into a bigger middle class. Quite the opposite. High taxes on the rich coupled with strong labor laws protecting workers from exploitation leads to a growing middle class.
People in the US, growing up on anti-social propaganda, can’t understand this simple fact. Again and again, history patiently tells us, this is what works. All social systems based on not taxing the rich and powerful end up in slavery and poverty for the masses. A no tax system means the rich simply run up debts in the name of all the people. Then, they turn around and say, ‘You all better pay up or you will die. See this splendid army you made for us? They will protect us during our secret meetings where we discuss how to enslave you further. Now, kneel before your masters or die!’
All our tax cutting and flatting of the tax tables has turned the tables on the US middle class which is shrinking, not growing. There is the appearance of growth but only because debts grew. Not CAPITAL.
http://emsnews.wordpress.com/2009/05/22/inflation-cannot-cure-depression/#more-3754
so why he's convinced doom is imminent I can't quite fathom.
I also believe that this is not a problem of "competence". I believe the parties in power know exactly what they are doing. The question is whether or not Obama understands the end game and agrees with it or not and whether or not he actually has any control over it.
The author refers to the "end-game", not me.
nothing will change because we are not changing.
Greed, Intolerance, Guilt, Fear, Judgment, Blame, Ignorance, Hubris, Religion... all the strife across this planet from the economy to war to famine are the result of human nature.
Look, listen, and read the so called explanations and so-called solutions the many self proclaimed experts tout... they all involve finger pointing, blaming, fear mongering, guilt, and pride....
it's all bs.
YOU HAVE A GREAT POINT!
Is it such a bad thing to simply want to have a decent life? I don’t need a Bentley, or 5 houses. But I would like to pay all my bills, keep my health insurance and still have enough to take the wife out once in a while and maybe even go on vacation from time to time. But the greedy people want to take that extra money out of my pocket all the time.
The drive for ever increasing profits by business is killing the customers.
Its a hollow economy folks with no way to sustain itself.
its a great day when most people will work for the govt. *grin*
Grow up. Buy a color TV.
Here's another bit of expert advice. If every American owned a gun there would be less violent crime. I could easily argue this point and you'd "find the hear of (my) argument persuasive", but in truth it would really be self serving drivel, just like Woody Brocks piece.
And if you manage your retirement all by yourself, how do you enforce that the people or firms who received your funds will pay anything back when you retire? Do you buy a really big gun for that purpose?