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I don't think Wall Street is about to lay another ''EGG,'' however, there is an awful lot of
clucking in the ''HEN HOUSE!....;-)'' |
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I hate to be pessimistic, as well, and thank God there are more important things than the state of
the economy. I think it is important to look at larger trends than just moment to moment economic
indicators. Let me list some examples: 1. US productivity and manufacturing--other than producing
a few bobbles and trinkets here and there, we are out of the global competitive market in most major
manufactured goods. 2. Fat, over paid, and largely lazy work force--can't compete there either.
3. Declining excellence in public ed.for decades---fat, lazy, whiny white collar workers. 4. More
and more redistribution of wealth---less incentive for individual productivity. 5. More and more
government controls regarding work, such as minimum wage, control of resources, red tape, more and
more bureaucracy, etc create an economic climate of stagnation and nonproductivity. 6. Greater and
greater US indebtedness and weakening of the dollar--both have adverse long term affects on our
economy. 7. Cultural moral confusion regarding individual rights and responsibilties and other
mores which creates more disharmony in our society and reflects in decreased economic production.
8. Break up of families--creates greater aberrant behaviors and insecurity in children which
ultimately weakens productivity. 9. Entitlement mentality--self explanatory.
There are other issues for sure, but just wanted to list some larger trends that adversely affect a
society's ability to function smoothly and efficiently and economically. |
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I know you don't really mean it.
Look, I'm not a pessimist, I do genuinely wish for the best, and I'll admit there are a few positive
signs in the economy. BUT, 1) Unemployment just passed 10% in the US and although other countries
often see higher numbers than that the US most of my lifetime has been between 4 and 7%. 2) They
desperately want the American consumer to believe it's getting better so they'll go out there and
spend like they have nothing to fear. The government's behavior since before the crash is well
demostrated to be a) to deny an economy downturn, b) describe it using the mildest most careful
terminology, c) tell us to go out and spend, and d) announce "it's over" far before it actually is.
3) A bandaid of trillions of dollars of debt may create an illusion things are improving but if you
ripped off that bandaid (ended or gave back the debt) our economy would bleed buckets. |
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08 Nov 2009 19:18
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