Quick. What's the biggest economic problem facing the American Economy?
The Trade Deficit? Or, Junk Law Suits?
If you believe the Bush Big Lies you'd say-Law Suits. But law suits are way, way down the list of things really troubling the US economy.
For one, unless and until, REAL LIVING WAGE JOBS come back in the US: NOTHING ELSE MATTERS; And unless the trade deficit problem is solved or re-solved;
Real Disaster Looms..............
HIGH PUBLIC AND PRIVATE DEBT AND DEFICITS, AND LOW WAGES ARE BY FAR THE BIGGEST THREAT TO THE AMERICAN ECONOMY. BUT, YOU'D NEVER KNOW IT BY LISTENING TO DUBYA AND HIS ECONOMIC SHILLS.
The Social Security issue is simply another lame attempt by the Republican Rich to loot the economy even more, and support their ill-starred speculations in the stock market!
Just as private 401ks were used to inflate stock values since 1982, now there is a need for to tap our public pension plan to continue supporting the investments that the wealthy have in Wall Street speculations.
BUT, IF THE 401k DID NOT WORK OUT. WHY SHOULD SOCIAL SECURITY MONEY DO ANY BETTER ON THE STREET?
The truth will out about Social Security.
And that is simply this: that with minor adjustments the system will survive at least 50 years more.
And, in 50 years? Who knows what will have happen!
Perhaps, the US will be a third world country by then!
With all of the rich having fled to Euroland, or to Israel, or to other off shore "tax havens!" Because, alas, real "patriotism" seems confined to the religious poor these days!
Indeed, America seems to be turning into "Mexico of the North" in more ways than one every day now.
What new technologies will be around in 50 years?
What unseen geopolitical catastrophes will occur?
What economic disasters await? Perhaps a currency collapse is in the offing. How to plan for that, or whatever?
Or perhaps something good will happen? But with greed and corruption as our only "pole stars" that alas, is not likely.
The greatest fallacy of all is to assume a straight line progression from today to the future.
Because somehow, it never quite works out that way.
What is really needed is a NEW ECONOMICS that considers all that we have learned in this post-Keynesian Era~~which alas, seems to be coming to an end now.
THERE IS A NEED FOR SERIOUS "OUTSIDE THE BOX" THINKING.
WE NEED TO RE-DEFINE THE GOALS OF OUR "NEW ECONOMIC PARADIGM," AND ADJUST POLICY ACCORDINGLY.
ALL OF THE OLD ASSUMPTIONS SHOULD BE ABANDONED. AND SOME SERIOUS "LATERAL THINKING" ENGAGED IN.
WHEN THE COLD WAR ENDED MANY FALSELY PROCLAIMED "THE END OF HISTORY."
NOW, NEARLY 15 YEARS AFTER, WHAT WE SEEM TO HAVE IS EVEN WORSE:
THE END OF ECONOMICS!
If the president wants to PUT ALL PRECONCIEVE ECONOMIC NOTIONS ASIDE, and really re-think the economy in a fundamental way that is FAIR AND JUST TO ALL CLASSES OF AMERICANS;
Then something fair and good can come of it.
BUT, IF HIS PLAN IS TO PROJECT INTO THE INDEFINITE FUTURE THE CURRENT NOTIONS THAT ONLY THE RICH ARE WORTHY OF CONSIDERATION AND PROTECTION BY WASHINGTON;
AND WORSE, THAT ONLY "CHEAP LABOR" MAKES THE WORLD GO ROUND!
THEN NOTHING WILL HAPPEN.
AND THE CURRENT FATAL FLAWS DEEP INSIDE THE SYSTEM WILL PUSH US EVER CLOSER TO THE INEVITABLE BREAKING POINT;
THEN, THE "END OF ECONOMICS" WILL TRULY BE AT HAND.
More on this later............stay tuned.
