THERE IS AN URGENCY IN THE AIR NOW THAT SMELLS LIKE DESPERATION...
BUT CONSIDER:
MONETARY POLICY IS OFF THE TABLE...INTEREST RATES ARE ZERO...AND THE FED IS BUYING ASSETS HAND OVER FIST...
SO THIS BULLSHIT THAT THIS IS "LIKE THE 70'S" IS NONSENSE... IN THE 70'S THE FED PUSHED THE PRIME RATE TO 20% AND BANK CD'S PAID 16% TO 18%...!
THIS AIN'T THE 70'S...!
BUT WHAT HAPPENS IF THE FAST STIMULUS NOW UNDER CONSIDERATION DOESN'T WORK...
AFTER ALL THE PROBLEM IS NOT TIGHT MONEY...RATHER TOO EASY MONEY... FOR TOO LONG...
IN SHORT GREENSPAN FORGOT TO TAKE THE PUNCHBOWL AWAY... WHY? WELL...
GREENSPAN DIDN'T WANT TO RAIN ON BERNIE'S PARADE...!
THIS WAS THE MORTAL SIN OF MACROECONOMICS...SO NOW IF THE KEYNESIAN ORTHODOXY DOES NOT WORK IT WILL BE NO SURPRISE TO MANY ECONOMISTS...
MY HUNCH IS THAT THE REAL PROBLEMS ARE MASSIVELY STRUCTURAL AND THAT THIS FISCAL BULLSHIT IS A WASTE OF MONEY...
THE US NEEDS TO JOIN THE REAL WORLD AS A PRODUCER NOT JUST AS A CONSUMER OR A BUBBLE MAKER...
UNIVERSAL NATIONAL HEALTH CARE WOULD BE THE FIRST THING NEEDED...
WITH ALL THE TALK ABOUT SMALL BUSINESS PROVIDING THE JOBS...NO ONE MENTIONS THAT SMALL BUSINESS CAN NOT AFFORD HEALTH CARE FOR WORKERS...OR EVEN FOR THE OWNERS OF THE SMALL BUSINESS IN MANY CASES!!
SMALL BUSINESS WILL NOT GROW WITHOUT NATIONAL HEALTH CARE... IN FACT SMALL BUSINESSES ARE CLOSING BECAUSE OF THE HEALTH CARE ISSUE...EVEN AS "JOBS WITH BENEFITS" ARE BECOMING INCREASINGLY SCARCE...EVEN FOR THE FORMER SMALL BUSINESS OWNERS!!
BUT DON'T WORRY...OBAMA IS GOING TO SPEND BILLIONS BUYING COMPUTERS FOR HOSPITALS SO THEY CAN SEND OUT BILLS FASTER...! AND WEATHERIZE A FEW FEDERAL BUILDINGS...!!
STIMULUS...? NO... MORE LIKE BULLSHIT!!
ADDITIONALLY SOMETHING MUST BE DONE TO STOP THE NOTION THAT CHEAP LABOR IS A VALID "FREE TRADE" ADVANTAGE...
IT ISN'T...OR AT LEAST IT WASN'T INTENDED TO BE IN THE OLD THEORY...
THE CHINA ANOMALY NEEDS TO BE RE-EVALUATED BY HIGH LEVEL ECONOMISTS FOR IT'S SUSTAINABILITY .... THE US CAN NOT CONTINUE ITS TRADE SITUATION WITH CHINA INDEFINITELY...
BALANCE OF TRADE AND PAYMENTS IS A VERY VERY ANCIENT CONCERN...IT HAS BROUGHT DOWN EMPIRES EVEN IN THE MIDDLE AGES... NOW FOR SOME REASON THE AMERICANS THINK IT DOES NOT APPLY TO THEM...
OK...IF SO PROVE IT...
OR CHANGE THE SYSTEM TO ONE THAT IS SUSTAINABLE...
