Tuesday, September 24, 2013

Trickle Down Economics Failed America

Any realistic look at the past six years of the US Economy proves without question the need for more reliance on Fiscal Policy for economic recovery. That is, the US Economy needs some pure Keynesian Fiscal Policy. The national government needs to hire people to boost the economy. National monetary policy is conducted by the Federal Reserve Bank. The Fed has done as much as it can with bond purchasing and interest rate reductions. 

Mainly by boosterism the Reaganist economic trust of the past century exalted the monetarists as the fountainhead of America's economic greatness. Monetary economists like Milton Friedman were deified and adored by the Reaganist "trickle down school." Reagan nominated Alan Greenspan to run the Fed based on that delusional pet dogma coupled later with the laissez-faire everything destruction of the Glass-Steagall Act. Passed under FDR in the depths of the Depression of the 1930s to closely regulate the banking sectors of the US Economy, the Glass-Steagall Act worked well for sixty-seven years. The Act had a simple purpose: To prevent the Federal Government from ever paying the bill when the banks went bankrupt. Under Glass-Steagall the banks had to pay for their own corrupt practices. Glass-Steagall was effectively repealed by the ironically entitled Gramm–Leach–Bliley Financial Modernization Act of 1999. 

As we all witnessed in 2007 our Federal government was forced to correct the lousy decisions made by unknown hucksters in the banking and finance businesses all over America and literally across the world. It was and remains a huge tab to both shore up these huge financial corporations, and deadly ground wars in Asia. The tab is still largely unpaid because the US Congress is unable to pass any needed increases in taxes. Many older people may recall that under President Eisenhower after World War II taxes were very heavy on higher income people and companies. The war debt needed to be paid. And incredibly, the American taxpayer continues to give a lot of money to some very, very wealthy managers and CEOs in the deal. 

Latter day Reaganists continue to celebrate the freedom for the very, very wealthy people who run corporations to trickle down their money to the peon workers of our nation. "Trickles" of money dripping into the economy controlled by hyper-wealthy individuals and oligopoly banks and other financial companies is now clearly not enough drip to sway the national economy one direction or another. So, listen to this all you GOTP congress people and loudmouths on cable news: Conspicuous consumption by a privileged few is not the key to a better nation or an elixir to an ailing US economy. 

The lack of funding for the US Federal budget engineered by the US Congressional GOTP faction has been a heavy weight on our growth. Sadly the USA has become a third world country in many ways. Our Economic system is a circus without a ringmaster because our national and state governments are largely controlled by sordid extremist business interests. 

The Reaganist laissez-faire dogma gives us streets controlled by militaristic police forces financed largely by the state and national governments. Can't really blame them. Look at the weapons the local police face in their day to day jobs. AK47s and Glocks and all manner of military assault weapons. Thank you NRA and other extremist dogmatic gun people for aiding and abetting murder of our police people and regular citizens. The nation looks like Lebanon in 1975. 

Every administration since World War II has tried to improve our educational system. Here the problem is too much regulation. Too much of some political agenda in the classroom. Our educational system is controlled largely by dogma from state and national governments and religious and political fascist groups. Teachers in schools all over America need more freedom to teach. Leave them alone and let them teach bird watching if they want. And if some GOTP creep representative can't stand more freedom for a worker teacher, let the representative go and try it themselves for a while. Put the class up on Cable news and C-Span. Let's all see how they do after seven months of ten hours a day classroom work for an eighth of the pay they get in Washington. 

Why does all of this continue? Our Pay-Per-Vote US Congress. Not satisfied with their Federal paychecks, GOTP creeps like Canter and Boehner and Rubio and many others are Cashiers for our Pay-Per-Vote congress. Now Ka-Ching, vote for this. Ka-Ching, vote for that. Ka-Ching, Ka-Ching, Ka-Ching. They love that sweet Ka-Chingy sound. Rubio even touts some cheapo bottled water by guzzling from the product bottle brand for his devoted audience on C-Span.  Ka-Ching. Ka-Ching. Ka-Ching. 

What more can be said? One long term solution may be to get the money out of politics, but this is such a cliche it has lost all meaning to the body politic. 

Call it what it is! The GOTP people are not clowns nor is their circus funny. They are dangerous and destructive to everything that is democracy. Their stated goal is to destroy our present form of government. Once we have voted these people and their Reaganist dogmas out of office we must restore the power of the Federal government to monitor and regulate not only our financial systems, but also all those weapons in the hands of hateful racist and sociopathic GOTPs in hiding. The time is now. We can't wait any longer because all our lives are at stake and our childrens' freedom is in the balance. 

1 comment:

Anonymous said...

I doubt that many of our politicians on either "side" really have any liberal or conservative ideals at all. I'm no spring chicken and I've been watching this back and forth stuff for a long time. It's pure theater, playing to their bases while they do the bidding of their contributors - BOTH SIDES! Phil Gramm authored the repeal of Glass-Steagall and Clinton signed it. Just one of many examples. Who signed the Monsanto Protection Act? They work together, nearly all of them. Have you ever read any of Yves Smith's Naked Capitalism articles?
IMO our biggest problem is that we are divided, no matter what the issue. As long as we blame the other side, we all will lose. Did you notice, when briefly, most of us joined together to oppose going into Syria that we did not go in. We can only win if we zero in on our most important issues first, and that is the corporate takeover of our laws and all these needless wars and join together on the things that we can.