As an economist, I have been following this business very closely. What impresses me most is that a bunch of kids, most of whom have never known economic suffering personally, are ideologically driven, and refuse to have their beliefs checked against reality on any level. They just believe things should go just this way and the winds of fate will bless their deeds if they just stay the course.
They don't have a clue as to what will really happen to things they set in motion. And are in this respect, just like the Bush Administration's declaring war on Iraq, when not one of them had ever themselves been in a battlefield, most having avoided military service preferring instead to take advantage of the various deferments then available. That's OK; but such are not good candidates to determine when and how we should go to war. It even turned out that Secretary of Defense Rumsfeld was "auto-signing" the letters of condolences sent out to grieving parents and relatives for their loved ones killed in action. And now we have the same situation in the economic ideological wars. These persons are all rich and believe that if we just take all those New Deal programs down by starving them off, then everyone will be like themselves, able by their own wits to rise to the top. Well, everyone cannot rise to the top, or it isn't a top. Were all to rise to the level of each of these congressmen in capacity and economic and financial wits, then all would receive just a very average and far lower remuneration in return. This is the nature of the fallacy from which they all suffer, and by which they are about to ruin the country. These Young Turks are part of the side that ran up all these fantastic debts in an adventurous unnecessary war, against which Brent Scowcroft and other wiser heads, including Bush's own father, strongly advised. Meanwhile, he who had actually attacked our country was allowed to escape. When is someone going to publicly call them out on this? When will someone stand up and say to their faces that these are their own debts, debts they agreed to incur, that it was they who cut taxes on the rich during a time of war‹an unprecedented move!--which blew up the debt, then and there, and continued to cut taxes on the richest Americans, even when some of the wealthiest publicly said they didn't need these tax cuts, that they played no part in their investment decisions. Shared sacrifice indeed! The extremes of wealth and poverty which exist today are now approaching those which existed exactly 100 years ago. What does a country do for those citizens who are not the smartest and brightest? What about those who can't work that hard, who are ill, old, young, sick, disabled or just too weak to carry it on? What about those who are not combat-ready to join in the battles of the modern information economy? What happens to them? That's my two cents. Dalton From: john snodgrass <[email protected]> Date: Sat, 16 Jul 2011 06:17:45 -0700 (PDT) To: <[email protected]>, Bernie <[email protected]>, <[email protected]>, <[email protected]>, Jeron Rampersad <[email protected]> Subject: RE: [TMIC] OT - this is scary Resent-From: <[email protected]> Resent-Date: Sat, 16 Jul 2011 06:19:00 -0700 > sad as it is, the kid with the most toys always wins. > > --- On Sat, 7/16/11, Jeron Rampersad <[email protected]> wrote: >> >> From: Jeron Rampersad <[email protected]> >> Subject: RE: [TMIC] OT - this is scary >> To: [email protected], [email protected], >> [email protected], [email protected] >> Date: Saturday, July 16, 2011, 9:07 AM >> >> I have been following this very closely actually; it's a good distraction >> from my pending divorce. I expect things to come to a cross roads somewhere >> in the next 2 weeks. Gold is already at an all-time high whilst the value of >> the "almighty dollar" starts to fall. The US dollar, being gold-weighted, >> depends heavily on the demand and supply of gold...much of which they control >> through reserves held since they emerged as the only superpower left. If the >> gold price stays anywhere between $1550 and $1575 US, a lot of interesting >> things can happen. First things first, we'll probably see a new superpower >> emerge from the east, possibly one of the so-called poorer countries that has >> been pushed into production because of cheaper labour costs. Also, we might >> see the emergence of a new superpower, probably one whose currency isn't >> gold-weighted; copper isn't a bad choice here. All in all, it's going to get >> a bit tricky to really predict the economic climate right now because the >> decision made on Capitol Hill will ultimately affect the entire world and as >> such Economists are asked to forsee who shall survive. >> Jeron >> >> >> From: [email protected] >> To: [email protected]; [email protected]; [email protected] >> Subject: RE: [TMIC] OT - this is scary >> Date: Sat, 16 Jul 2011 14:44:05 +0200 >> >> We do follow this every day on the news. We can't imagine that is still all >> politics to hold all the plans back, because not only the US is infold, the >> hole world is. We here in Holland has to deal with cit backs on social >> security, healthcare and higher taxes. Not that we like it, but those were >> nessary. Not that we agreed to all the choises, but one way or the other, you >> have to make them. You have to do something at the guild for eaach person of >> more than $130.000, we here get nervous of a guild for each of $15.000. It is >> no longer left or right, democrat or republican, we can't go live on as >> nothing happend. When your econemy goes down, it effects the whole world. >> Money will tumbling down in falluw, banks will go down and everyone sooner or >> later will lost a part of his money. >> >> Wim >> >> >> Date: Sat, 16 Jul 2011 02:01:52 -0500 >> From: [email protected] >> To: [email protected]; [email protected]; [email protected] >> Subject: [TMIC] OT - this is scary >> >> Have any of you folks seen this? SCARY! >> >> http://news.yahoo.com/economic-outlook-grim-no-debt-deal-reached-194155807.ht >> ml
