I once commented to a friend that the curse of the middle class is constantly being told by the upper class how much more they should do for the lower class. This has resulted in 80 years of horrendous monetary and fiscal policies that have brought us to the doorstep of the greatest depression in U.S. history.
After the way the federal government responded to the crisis starting in September, and the politicians’ need to involve their views in every facet of daily life, our great nation is on the verge of collapse and our diplomas may very well end up useless.
Don’t be foolish and believe everything will be OK; we’re guided by 700 or so of the biggest blowhards and morons ever collected in one place. We’re an awful long way from OK.
Think there’s a company likely to hire you fresh out of college if we’re in a situation with feral cities dotting the landscape? Think again. Take a weekend trip to Detroit if you want to see what Denver will look like at 20 percent unemployment.
In the words of Thomas Jefferson: “When all government, domestic and foreign, in little as in great things, shall be drawn to Washington as the center of all power, it will render powerless the checks provided of one government on another and will become as venal and oppressive as the government from which we separated.”
The framers of the Constitution said, in layman’s terms: Here is a wheel, it’s all you need. You can add further restrictions to the wheel, but don’t add to the wheel. It’ll get too big, it will no longer function efficiently, and it will catastrophically fail.
Today’s wheel is buried under a $2 trillion-per-annum, Pinto-unicycle, which attempts to control everything from personal choices to an economy that has never shown the ability to be controlled by anything other than itself.
President Obama shouldn’t have tried to interfere with the economy. Keynesian economics never corrects a recession — it only possibly delays those inevitable and necessary recessions. I’m not an economist, but it baffles me that people see recession as bad, rather than necessary.
Think of a professional athlete’s spending as a metaphor for the economy. National Football League rookies come out of college with scholarships and loans having given them a decent-to-great lifestyle while in college. If drafted in the first round, they stand to make millions of dollars in guaranteed money, i.e. rookie bonuses.
An NFL rookie signs for a $61 million contract, $29 million of which is guaranteed (Raiders Quarterback JaMarcus Russell’s deal in 2007), they tend to live a lifestyle that is within their short-term means, but is still well beyond their likely long-term salary.
If you don’t work to maintain your elite-player status, eventually the money is going to diminish until your salary is once again commensurate with your abilities, work ethic and for how much you are willing to settle.
That’s what’s happened with the economy. Some were living lifestyles that matched what was available for the short-term, but didn’t match their needs and long-term means. Wall Street and Main Street were both guilty of this practice.
The U.S. Government and liberal economists are treating the recession the same way a labor union deals with needed salary cuts: utter recalcitrance. If our abilities to produce have exceeded what we were spending, then why should we attempt to spend our way out of it?
The recession would have naturally balanced the scale, and once it had, the Democrats simply had to fix Social Security and Medicare, balance the budget, and then implement their agendas for the adoring masses.
In order for that to happen, politicians had to go against their nature and remove government controls. They did the opposite, and now those who are used to providing for themselves may be the only people prepared for the upcoming crises. Welcome to 80 years ago, America.
Seth Stern is a junior undeclared arts major. His tirade appears Tuesdays in the Collegian. Send comments, criticism, vilification, or scorn to firstname.lastname@example.org.