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Open Response to Robert Reich’s blog
Open Response to Robert Reich’s blog When Will The Recovery Begin? Never, which generated multiple error comment messages @ http://robertreich.blogspot.com/
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From a fellow Oxonian at Templeton College, winner of Arthur Andersen IBM Oxford Entrepreneur’s Prize:
Re the New Economy: It’s Thrift smartie.
71% of GDP is the sovereign citizen consumer. We stray a long way from New Economy passing corporate bank bailouts, beggar thy rich tax hikes, illegal handouts and pork barrel stims rewarding business failures and profligate politicians, increasing government, punishing success and thrift, shipping manufacturing jobs overseas and taking precious capital away from taxpayers.
There is no lasting recovery until there are better jobs with more savings. Sending a quarter million in funny Fed money directly to each family might have accomplished more than bailing out self-inflicted bank and corporate derivative suicides. Ask Warren Buffett, Bill Gates or Bob Crandall.
“Let the dead bury the dead.”
Gearing the economy by quadrupling deficit budget boondoggles caused the problem. Deficits only lead US further and longer into the dark hole of deflationary default-driven Depression.
Hoover and FDR demonstrated this, turning a three year credit recession into 25 year economic Depression with alphabet government programs, debts, deficits, defaults, unemployment and war. FDR and Nixon violated the Constitutional mandate for secure gold and silver money and fiat inflation took off, destroying real wages and saving.
Why not learn from history to avoid repeating insanity, throwing yet more usury paper money on a debt derivative funeral pyre?
