Sunday, November 13, 2011
Two (of the many) reasons why our economy remains in a funk
Item: "Biden: First Guy We Called for Economic Advice Was Jon Corzine."
My question: Did the Obamans call Corzine for advice because of the bang-up job he did as governor of New Jersey, or because he had been CEO of Goldman Sachs?
Item: "Amid ailing economy, members of Congress delve into sports issues."
Yeah, don't pay any attention to the man behind the curtain.
2 Comments:
By 
, at
Mon Nov 14, 08:00:00 AM:
At some point, and not too far distant in the future, Americans are going to realize that our economy is striking to improve, to provide jobs and to grow profits, but the Deocrats are willfully preventing these things from happening.
On purpose, Democrats (who think their party pursuit of ideology will for some reason earn them points with voters) are building endless regulations to stop progress in key industries, allowing extreme enviro NIMBY's to stand in the way of obvious solutions to unavoidable needs, constructing walls to prevent free movement of capital and trying to tax small businesses into history.
Americans are going to revolt. Soon, if not already, the Democrat party may only be a party of crony capitalists, public employee unions and their anarchist street tools. It'll be hard to win elections that way.
By , at
Mon Nov 14, 07:27:00 PM:
I don't disagree with ANON 8:00am but there are at least three things going on that may put off they day of reckoning for some time.
Bernanke and the Fed: You can argue that what they're doing is necessary and the best thing in the circumstances, lest we slip into a death spiral of deflation. I don't buy it. But it is enabling Obama & Co, and to some extent many Republicans, to put off having to face the music. If Ben wasn't the buyer of last resort for US Treasuries we'd have to face the harsh reality of how far federal tax revenues vs. spending is out of whack. The Supercommittee is expected to fail for not being able to come up with spending cuts that are only a fraction of the increases in spending that were made over just the last few years. But as long as Ben covers the deficit and rates are low, why should we care? Answer: it's unsustainable. Someday the debt has to be serviced, or we have to deal with the consequences.
Media: They're totally fucking innumerate. They don't get basic science. They can't reason they're way out of paper bag. This even applies to most (but not all) of the reporters at what once were leading publications like the Wall Street Journal and The Economist. The Media is still important because it "defines the conversation."
Our Congresscritters mostly no longer represent us -- they represent their party. It's more extreme than ever. Don't believe me: then why did Nancy and Harry keep their jobs after the biggest mid-term landslide in living memory?
