4 Comments

  1. This would be comical if it weren’t true. Along with the proposal on the table to write off all student loans, the embrace of these initiatives talk to the ignorance of a large portion of society about economics. On the flip side, however, these movements/initiatives/legislative proposals that are so ludicrous must be respected by the powers that be, because this is where we are heading without some redistribution of wealth and power back to the middle class. I don’t think the redistribution should be done via taxes (it won’t work that way), but rather through legislation allowing for easier starting of small businesses, lowering the federal deficit to strenthen our currency, and finding ways to lower healthcare costs to allow employees the flexibility to change jobs/start businesses without feeling chained to a job for the healthcare benefits. If more and more people continue to identify with the poor and don’t see opportunities to improve their class in life, more of these ‘crazy’ socialistic ideas will be embraced.

  2. Is Mr. Jackson’s idea to higher all the unemployed only left wing rhetoric as the Dems try to woo the Occupy Wall Street movement? But the big news is about the OWS capturing the headlines in America and around the World and shifting the debate from big government to greed on Wall Street. It’s kind of incredible that this is happening at all. Just how many of our middle class workers with or without jobs sitting at home and watching will show a sympathetic eye to the events unfolding remains to be seen.
    However, until now the Republicans have been very successful in maintaining the focus on big government in Washington. For example, the housing debacle was incubated in the halls of Congress and easy money followed. The argument stuck to the pan and has certainly made many Dems look incompetent. However, currently the OWS sees it differently. As homes are being foreclosed the banks are cleaning up their mess but the demonstrators on Wall Street view it as greed because many but not all the banks took government money to bail them out. This is only one in many events that has shifted the focus from DC to Wall Street greed.
    Another example, is student loans, the same principle is applicable. The banks and auto companies were bailed out so why not student loans subject to the very same rules when you are unemployed, bankrupt, like the banks were before TARP, and have no way to pay the loan off? We may or may not agree with this but the reality is that it’s one of the agreements that has shifted from DC to Wall Street.
    Many conservatives will argue that the OWS should demonstrate in Washington and thereby put pressure on Obama. This is more like wishful thinking. American’s know that corporations are sitting on record profits and cash. Greed is losing out. Gordon Gekko speech on greed no longer inspiring, http://www.youtube.com/watch?v=ONXpaBQnBvE&feature=related.
    We are just now beginning to see the demonstrations. What will happen when we actual start to cut very big government entitlements? When polled, even the Tea Party that favors big government cuts when asked about their own Medicare come out against it.
    What about China? Are they stealing our manufacturing jobs? Does this relate to Mr. Jackson’s rhetoric? You better believe it does. But Mr. Jackson’s idea is still very silly indeed.

  3. Thanks for your feedback Randy!
    I agree it would be nice have legislation to make it easy for small businesses to thrive. However, I’m not very optimistic that it would work. We live in a world that is much different than it was just ten years ago. How can we compete fairly in the world when two of the most important currencies are stacked against us? The Germans and many other productive northern European countries have benefited from a weaker Euro. The PIIGS have from the beginnings of the Euro have kept it low and benefitting the Germans. The China story is even worse. You know they control their currency. We have to address our trade policy’s and the Chinese currency issue before we give anybody any more money or they, business and unemployed alike, will just keep coming back to the well asking for more and more.

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