Friday, September 19, 2008

Reaganomics RIP September 19, 2008

I have not written in a while. My previous post marked the beginning of the end of Reaganomics. In the Pollyanna state that the US has adopted over the last thirty years it was useless to continue to be “negative”. Today will be recorded as the Death of Reaganomics. Treasury, FED and Whitehouse representatives finally admitted that the “fundamentals of the economy are not sound!” The immediate financial cost to the US taxpayer will be in excess of 1 trillion dollars. Unfortunately this money will have to be repaid in the toughest economic times since the 1930s.

For those who care, this bailout is a bad idea. The money should be used finance infrastructure reconstruction. Congress should be focusing on making business pay the real costs of good produced in foreign countries adding criminal responsibility for US importers and retail locations when foreign products kill or harm US citizens. Healthcare should be nationalized and banks seriously reigned in. No one will listen. It is true that our government is the face of the people. It is our own fault. See you in the bread lines.





3 Comments:

Blogger Jim Belshaw said...

Welcome back, David. I have missed you. I think that you can justly claim I told you so!

8:11 PM  
Blogger David Wornica said...

This socialist shift is truly troubling. Nice blog BTW!

1:30 PM  
Blogger Small Business USA said...

Jim Thanks. I have been very busy exploring the world of Small Business in America. In about a month I will be writing again with what I have learned.

It was not my intention to be "right". I am truly concerned about the future of the US and the "Free World". Greed has lead to serious dislocations. The sooner we realize that we must change the better. Unfortunately we continue to defend a failed system.

David Thank you. Probably a true socialist shift (power to the people) would not be a bad thing. Unfortunately we have gone farther and farther into "Corporatism" or corporate socialism. Balance is necessary for long term stability. When one segment of the economy (system) has too much power, the system fails.

6:05 AM  

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