wbmw, I understand how gov funding is spread, I'm saying it has not worked very well. We still suffer from energy dependence even with the govs having the clear warning from the 70's all that happened was more 'regulations' and subsidy that helped Big Business. That is all we can expect from Big Government because their buddies the CEO's have rigged the game.
Democrates have been duped again, thinking Obama would bring "hope and change" but when his advisor is Summers and his financial General is Geithner, we know they are going to serve their gods, GS - JPM and their Zeus - Ben Bernanke. Obama is not the guy to bring hope and change, I'm sorry to inform you.
Do you hear the debate going on out there. Inflation or Deflation. Regualtion or not bla bla bla .. No one can figure out what their god, Ben is going to do and make no mistake he has been re appointed as the god with all the power right in the palm of his hand. It matters little what they do in D.C. Ben will decide if their bail out plans will be funded or not so he calls the shots. I'm sorry but the biggest mistake a nation can do is to set up a god because 1) no man is up to the challange and 2) very dangerous is the man who rationalizes that he is!
There is a tidal wave of debt redemption crashing now and if you have studied how waves work the momentum keeps that top rolling for what seems like an impossibly long moment then it crashes. The Debt Wave is crashing my friend and while they fuss and fight in D.C. Ben - the Money god is holding all the power and no one can say if he is going to reflate or not. Uncertainty is the Worst of all environments. No Business or citizen can start a course of action with uncertainty looming like a mouse trap down that path. We have tried the Big Government - Big Business - Money god system and we are getting ready to feel the full brunt of that ill fated ruse. Big Business weaved it's way into to every function of how this country works and with no reguard for the citizens set us up for the kill by destroying the small mfg and retail base. Wall Mart made a deal with the devil and the govs, by allowing China to peg their currency to our dollar, so that no matter how imbalanced trade got there would be no mitigator to turn that syndrome around. Do you know that in North Carolina they used to make and selll furntiure all over the state. Now they harvest the fine wood, ship it over seas to some sweat shop, half way around the world - the finished furniture is then shipped back to this country. When crazy stuff like that works, you know that things are really screwed up.
We can't keep doing the same imbalanced crazy stuff and expect to have a different outcome. At this point with all that has been jawboned, the Banks are still Too Big to Fail with a guarantee from our govs that they can get their bonuses, continue the risky prop trading and shut down the loan mechanism with no strings attached. Just see who writes the regs if any come. The dems put together the Health Care Reform and did you see what hap? Big Insurance and Big Pharma ended up writing the bill. Continue to deny the obvious if you like but I have finally found a new way to look at this mess. I don't care who is to blame, I only want to know, WHAT is going to work. And what Warren Mosler is saying is the only thing close, that would bring quick relief, fair and blanced to our economy. Ben, the money god, only has a few options. Add zeros to the balance sheets of banks, (hasn't worked and more won't hel) or fund the hair brained short term fix programs the govs glom together that anyone can see are stupid. For example: a jobs bill that will give a small business a one time tax credit for hire of an ee... Even though the business has little hope for growth, the one time pop of cash will get him make a long term committment to an employee. Bunk! What we need is a game changer for all citizens and small business NOW! and the FICA Tax Holiday would do it. And it would be 100% for small business and average citizens. FICA drops off at what 106k so the "rich" would benefit proportionally much less than average Joe and Jane and Bill Small Business. With an immediate improved money flow of 7% for the ee and 7% for the business, everyone could make their payments, plan to spend, plan to grow the businesss, be more loan worthy. Expensive>? Belive me the thing we need most now is inflation. It would be funded by printing money and I am telling you if the dollar is allowed to value UP, we are SUNK!
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