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It will be interesting to watch the outrage of the same people who support these idiotic stimulus programs when they begin to have to start paying for them. Within 5 years the average American's lifestyle will be severely impacted by the increases in taxes and fees and the loss of jobs that are now inevitable. The ill informed attempts to fix the economy will only make things worse. All they are doing is insuring the agony lasts much longer that it would of, had they done nothing and allowed the economy to correct itself. You cannot solve the problem of too much debt by taking on more debt. The economy is in a death spiral that can only end when assets are priced fairly and debt has been eliminated either by write offs or bankruptcy sales. Before that happens there will be suffering the likes of which no one has ever seen before. When the smoke clears the World may be a radically different place.
I would like to know why we cannot return to a profitable wealth producing industrial economy? Why do we have to remain consumers on credit? The FIRE economy has resulted in this disaster. Time to put the FIRE out.
I would like to know why we cannot return to a profitable wealth producing industrial economy? Why do we have to remain consumers on credit? The FIRE economy has resulted in this disaster. Time to put the FIRE out.
The only way to do that is to bring back manufacturing.
The only way Corporations would do that is with no regulation, no taxes, slave wages and no oversight.
They COULD invest in R&D but even that has been offshored as the cost of PhD's in India and China as well as the testing labs is mere pittance.
The only way to do that is to bring back manufacturing.
The only way Corporations would do that is with no regulation, no taxes, slave wages and no oversight.
They COULD invest in R&D but even that has been offshored as the cost of PhD's in India and China as well as the testing labs is mere pittance.
Or the government could stop rewarding companies that export jobs. Stop giving them tax breaks, grants, and waivers on various regulations. Crack down hard on them and don't give them any help or mercy.
Our government is not only rewarding companies for outsourcing jobs they are helping them do it to begin with and making it possible for them to do it.
They seem awfully intent on hurrying something through just to get it through. Almost like something really bad is about to unfold and they want to be able to say " We tried". That and the secret closed door meetings and negotiations. Its almost as if they were trying to placate somebody, and not necessarily the american people.
More and more I see the US citizen and tax payer being burdened with propping up world financial globalization efforts and now that we are on the brink of backing off and refusing to do it, there's a panic. Somebody is twisting Obama's arm.
Yup, the American people is twisting Obama's arm. There's a reason why he got an overwhelming majority of voters in the election.
He was sent there to do something and not just let things work out on its' own.
As far as long term prosperity... we need to work out the problem of the diminishing wealth and competitiveness of the middle class. Targeting labor arbitrage, outsourcing, and unequal trade imbalances would be a good direction.
ie.
- Competitive corporate taxation
- Reducing the burden of health care from corporations
- Reducing energy dependence
- Increasing quality and strength of education
- Curbing labor arbitrage
At the end, we can't import more than we export and we can't continue to drain the middle class and concentrate on only the wealthy. It is not sustainable.
The last few posts above simply express the symptoms. Why dance around the issue? The issue is a fraudulent financial system .They have just announced they will give 2 trillion away to banks(with oversight). Great, now we can actually see them walk out with the big bags of money. Now its a fish tank of fraud instead of a muddy pond.
What creates jobs? Capital.
Who controls the capital? The financial industry.
How did they get it? Much of it they purchased with the money they print. That is from every leveraged buyout and corporate debt.
Who buys the politicians who could stop this? They do. Thats why they don't stop it.
Almost everyone votes for the people that the party system puts in front of them. You don't get to choose where you eat the ice cream, you get to choose between chocolate, vanilla and strawberry all from the same ice cream man.
The only way to do that is to bring back manufacturing.
The only way Corporations would do that is with no regulation, no taxes, slave wages and no oversight.
They COULD invest in R&D but even that has been offshored as the cost of PhD's in India and China as well as the testing labs is mere pittance.
Hi HappyTexan,
I think we went through this. If bringing back manufacturing solves the issue, whats the deal with Japan? If we have warehouses full of goods no one can afford to buy now what good will it do to make more things people cannot buy? Is there a shortage of houses or cars or TVs? What is the shortage? What do we need to manufacture that we are in such short supply?
It is a symptom of the problem that manufacturing is being driven out of this country.
I think we went through this. If bringing back manufacturing solves the issue, whats the deal with Japan? If we have warehouses full of goods no one can afford to buy now what good will it do to make more things people cannot buy? Is there a shortage of houses or cars or TVs? What is the shortage? What do we need to manufacture that we are in such short supply?
It is a symptom of the problem that manufacturing is being driven out of this country.
That is one thing alot of people are not looking at. Manufacturing is good for providing jobs, but in this economy, fewer people are buying things and people are buying less too, which means less profit. Shortage of goods isn't the issue.
I don't believe laissez-faire will work in this case. How would laissez-faire work in favor of EVERYONE if people aren't buying. The cost of living is high NOW. How long before people being buying things again?
That is one thing alot of people are not looking at. Manufacturing is good for providing jobs, but in this economy, fewer people are buying things and people are buying less too, which means less profit. Shortage of goods isn't the issue.
I don't believe laissez-faire will work in this case. How would laissez-faire work in favor of EVERYONE if people aren't buying. The cost of living is high NOW. How long before people being buying things again?
Hi pirate_lafitte,
Exactly. Its a depression. Banking inflated the money supply to a point and now its in reversal. The cure for a depression is to increase the money supply and the big joke is even though I keep telling people the money supply is debt they can't tell why reducing the debt is making the money disappear.
Then of course the so called cure is to increase lending and credit by fattening up banks. All this will do is get what is left of us on the tread mill of usury that can never be paid because its also our money. All this talk about outsourcing, manufacturing, national debt, what ever does not matter one bit. We have a money system designed to impoverish and enslave us but the concept of monetized debt appears to be just above the heads of how much time people are willing to spend on the problem. Our jeopardy is increasing and I feel we are in for far worse. We need treasury notes to force out usurious federal reserve notes or its basically over, which seeing who is running the show it, already is.
Exactly. Its a depression. Banking inflated the money supply to a point and now its in reversal. The cure for a depression is to increase the money supply and the big joke is even though I keep telling people the money supply is debt they can't tell why reducing the debt is making the money disappear.
Then of course the so called cure is to increase lending and credit by fattening up banks. All this will do is get what is left of us on the tread mill of usury that can never be paid because its also our money. All this talk about outsourcing, manufacturing, national debt, what ever does not matter one bit. We have a money system designed to impoverish and enslave us but the concept of monetized debt appears to be just above the heads of how much time people are willing to spend on the problem. Our jeopardy is increasing and I feel we are in for far worse. We need treasury notes to force out usurious federal reserve notes or its basically over, which seeing who is running the show it, already is.
The thing is, is there are a lot of countries that have the same system as ours but the citizentry aren't nearly as indebted as ours (Japanese, Germans, etc.). So, it's not necessarily just a core problem with the monetary system, it's also how wealth is spread/distributed, government policies, and the strength of labor and the middle class.
-chuck22b
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