Today is President Obama's birthday. The 44th President was rewarded with a 512 point drop in the DOW Jones. Blood Red Thursday 8/4/11 marks a world wide sell off in Bankster controlled markets.
The rich are getting their due. The inequity of unfair TARP Bailouts have expired and run their coarse. Free market and supply and demand are slowly prevailing over government stimulus. The bubble is bursting again and Ben Bernanke can't save us.
The rich are getting their due. The inequity of unfair TARP Bailouts have expired and run their coarse. Free market and supply and demand are slowly prevailing over government stimulus. The bubble is bursting again and Ben Bernanke can't save us.
The question is what will be the big fix and who will take the medicine. Interest rate is zero, QE 1 and 2 failed. Stimulus and TARP artificial cover ups couldn't conceal the rotten core.
We packed up and left our agrarian life after the Civil War and The Industrial Age ended without fanfare in 1980. We are in a New age using pioneer economics of 100 years past.
John Maynard Keynes taught us Macroeconomics. The theory If you build it they will come. Spending your way to prosperity was accepted economics in 1950. If we learned anything from Bush 43 it's giving money away isn't the same as spending. Supply Side Economics tax cuts to the rich does not produce good jobs or a sound economy. Compromise between to failures produces failure.
Macroeconomics works if you have a industrialized workforce. We don't. Supply Side Economics is a short term fix that requires you to cannibalize industry and feed off the carcase. So we're treating the wrong illness for thirty years. The long division formulas don't work when the problem is multiplication.
Dead End Spending on Wars overseas will not put people to work in America. Only Spending on the economy of the people creates jobs that equals prosperity.
In the US this is a narrow window as we sent our industrial machine overseas. We got Airplanes, Infrastructure and Health Care. Of coarse if we expanded into renewable energy we could open new industries. We don't we buy our windmills from China. Employing cheap illegal labor who take even small amounts of GDP and send them to their homeland produces a double negative in the economy.
Whatever we do going forward will not be based upon past economics. We need ground up radical change in our government and philosophy of what we want in our Country. Everything that was here in 1970 is still here. I don't recommend a return to 1970 only that the door remain open. China is doing well with our jobs. The way we collect taxes must be changed and Employer Based payroll deductions must be stopped.
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