Sunday, November 15, 2009
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An introduction to U.S. macroeconomic policy issues, such as how we use monetary and fiscal policies to promote economic growth, low unemployment, and low inflation.
I believe it is extremely important to consider the sources of information. No one should be surprised if news reports on MSNBC have a liberal slant or if Fox News has a conservative bias. Unfortunately, far too many people only seek information that supports existing opinions and they fail to consider all sides of issues. I strongly encourage everyone to seek a broad spectrum of opinions and information sources, carefully consider them all, and then reach one’s own conclusions rather than just parroting what a favorite cable news celebrity might say.
The following information is provided to help you understand the biases that may be inherent in this blog. My primary U.S. economic policy concern is the fiscal irresponsibility of government. The Baby Boom generation, which I am part of, has spent the past 30 years accumulating massive public debt that will be passed to our children, grandchildren, and subsequent generations. I am not opposed to the reduction or elimination of any government spending program. Yet, politicians tend to call for reduced spending in general terms and fail to publicly declare specific cuts they would make. The primary cause of the massive U.S. public debt is revenue reductions (in the form of tax cuts) without similar decreases in government spending.
I am willing to consider the expansion and addition of government programs as well. I do not mind how much or little the government provides to society as long as it is paid for. I am willing to pay higher taxes for services deemed worthy, whether they be national defense, homeland security, or income assistance to those less fortunate than I. And I am certainly willing to pay less in taxes or to deposit any government check I receive. My generation, the Baby Boomers, has been very good at cutting taxes and increasing the size of government, regardless of which political party is in power. This is a prescription for financial chaos that remains a horrible legacy for future generations.
Capitalism sucks because it is heartless. It puts the profit motive above all else including the workers' safety and lives. It destroys the environment with no regard for the future. "Free enterprise" is something that a very tiny minority of any country's citizens would ever be able to take advantage of and instead they get taken advantage of by it. Free enterprise = the freedom to exploit those less fortunate than yourself if you are able.
ReplyDeleteAnyone who says "Yeah? Well nobody makes you work at the job you have so why not find another one paying better?" is living in some fantasyland where businesses don't collude to keep wages down because in the real world business owners know what the prevailing wage rate is in their area and know that their workers aren't going to be able to find another job doing the same thing for better pay. It's common sense.
Capitalism sucks because it benefits the wealthy, frequently hereditary ruling elite which amounts to a small sliver of the population and it pisses all over everyone who isn't wealthy. In capitalist countries that claim to have representative democracy (like the U.S.) it is a sick joke, a perversion of democracy because it is nothing but a parlor game for the wealthy ruling elite. The high rollers buy out all the plastic marionette candidates from both hardly-dissimilar parties and let them fight it out because they don't care at that point who wins since they know it will already be someone who is in their pocket.
And everyone in Congress may as well have their corporate sponsors' names on the back of their suit jackets to show people who they are really working for. In a capitalist country the government is nothing but a committee for running the common affairs of the big business elite. There patently IS NO political party in the U.S. to represent the interests of the average non-wealthy American, the working class, working poor and desperately poor Americans. You have instead the openly bourgeois big business party (Republicans) and the thinly-disguised bourgeois big business party (Democrats).
Great examples of the government being nothing but eunichs and handmaidens for the ruling class are the Food & Drug Administration, firmly in the pocket of Big Pharma and never afraid to turn a blind eye to dangerous pharmaceuticals being introduced to the market; the Mine Safety & Health Administration which never met an unsafe mine it didn't like and does little more than furrow its brow at companies like Massey Energy; and the Dept. of "Defense", basically the country's energy resource protection force being used as pawns in foreign wars to try to gain as much control as possible over as much of the world's remaining oil and natural gas as possible for their bosses in Exxon-Mobil and Chevron-Texaco.
Any system that is designed around what's best for the uppermost 5% of the population on the backs of the remaining 95% is horseshit and is not long for this world once the masses who are being taken advantage of become conscious.
The problem with the free enterprise is that those who benefit most by it seem to think if its good for me than it must be good for everyone else. Communism gained a foothold in different countries around the world not because it could provide its people with a better economic system than capitalism but because the people in those countries lost faith in the free market system because so much of the wealth created by it went to a small handful of slite business men. One could say communism had its roots in capitalism.
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