posted on Apr, 7 2009 @ 04:38 PM
It's funny how the government is trying to blame everybody for the economic downturn but themselves.
The truth is, massive borrowing and spending and too much deregulation destroyed the economy and this is at the feet of government not Wall Street.
Of course greed is going to get out of control if it's not held in check. This means a free market with some regulation and oversight. This is one
thing that government should do.
The reason they didn't do it is because they were basically bought off on both sides of the isle. This is our fault because we have let the kids have
control of the candy store (our money) for too long without supervision and now everyone is waking up sick.
Many of these politicians are corrupt but what do you expect when they control trillions of dollars and that control gives them power.
Big government is horrible especially since we are in a global economy.
Because of cheap labor we moved from a producer based economy to a consumer based economy. This meant we borrowed and consumed and other countries
will hold our debt as long as we consume their goods.
It's a win-win situation and in this enviroment and you create more entrepreneurs, real estate millionaires and people making money on the
When the government borrows and spends then our debt begans to reach our consumption and then other countries don't want to hold our debt. That's
because as our debt increases we start to consume less.
We go from a consumer based nation to a debt based nation.
Bush spent us into oblivion and Obama is even worse.
We can't sustain all of Obama's spending in a global economy because of cheap labor. We can't produce enough jobs or the kind of jobs to sustain
Why doesn't anyone in Washington understand this?
The country that will flourish is the country that realizes a consumer based nation is ideal in a global economy. They can just make sure the
government doesn't become a behemoth and the people of the country can borrow and consume or borrow and build businesses or invest in real estate.
Obama wants to take us back to a producer based nation and that's horrible because of cheap labor.
In a global economy it's not about jobs but consumption. If it's about jobs then America will be like a third world country because of cheap labor.