Wednesday, October 7, 2009
The Global Economy
We can all agree that Washington is spending at an alarming rate, but most people do not understand where all the money comes from. The American dollar is worth less then the euro and the Canadian dollar is catching up to us. A lot of people think that the dollar is backed by gold that is the first misconception, all the US dollar is backed by, is the good faith of the Government. We are flooding the banks with money that is not worth the paper it is printed on. We are monetizing our debt, what that means is we just continue printing money to pay things off but are not backing that money up. China and other major countries are already looking to drop the dollar knowing that it is becoming worthless. Our elected officials answer to this is, MORE SPENDING, it is proven throughout history that you can not spend your way out of an economic downturn. We must tighten the belt and cut back. The Obama administration said the country would be in big trouble if the stimulus did not pass. The country was and still is in trouble, the ice we are standing on keeps getting thinner and soon we will have nothing. I said it before and will continue to say it, we must wake up and pay attention to what is going on, not just go on watching football games and mindless reality shows, but speand some time looking at the truth. Washington has spin doctors that tell us it is okay, "we must spend some more then things will get better", "we need to pass a nother stimulus and that will steam the tide". But noted econimcs are saying "NO!". We must stop before it is too late, they are telling us unemployment will reach 10% and stay there for quite a while. The government must stop speanding money it does not have, to pay for things we do not need, they must cut back on entitlements and pet projects. We as working men and women know what it means to cut down when we need to, so why doesn't Washington? There are those out there who are calling for change, Sarah Palin is one of those people. http://www.facebook.com/sarahpalin?v=app_2347471856 I agree with this article because I believe America must find its way back to being a self supporting and innovative country. We need to start relying on ourselves and forget trying to support the rest of the world. We need to get our people back to work by cutting taxes to major corporations to entice them to hire. Our cities and states need to cut their business tax levels to bring in new companies, we need to give start ups and small business time to get going before we tax them into bankruptcy, we can not rise from the ashes by punishing industry and small business they are our future and we need to support them, not dimwits like Micheal Moore who attack capitalism, sure it is not perfect but it is a hell of a lot better then the alternative.