Most of the current economic problems we're having are related to the complete change in the basic operation of not just our economy but the worlds economy. As we move to a global market from a local market the entire system is strained by the much lower wage scale of the developing countries. Until that begins to equalize you will have high unemployment in the developed countries as long as no economic controls are it place to compensate for that wage scale differential.
And of course the basic move in the US from a local mortgage market to a national mortgage market just became the trigger issue that finally collapsed an already failing system . What we saw in the housing market was the uncontrolled greed by a generation of bankers and wall street brokers that have no moral compass beyond profit. By allowing Fanny Mae and Freddy Mac to effectively turn the market in to a government controlled pyramid scheme the normal market conditions were kept from adjusting prices and thus a major housing price bubble developed.
With all the other strains on the economy that became the breaking point. But to believe that the same government and private sector businesses that allowed the problem to develop, flourish, and finally fail can now solve the problem is to believe in fairy tails.Only we the people can solve this problem.
Government control always results in something closer to socialization than a free market. One only has to study the 70+ year Russian experiment to see how that model turns out. But as long as the public demands, and politicians attempt to provide, government solutions to our economic problems we will see debt rise and unemployment beyond the blotted numbers of bureaucrats such attempts produce continue to grow while our economy continues to stagnate. If this continues long enough the increased debt will cause uncontrolled inflation and an even worse economic collapse.
So remember what we need now is a movement to demand that the free market be allowed to operate as a free market. And while we need better regulations and controls it's doubtful that our government is capable of providing them at this point. There is no movement to control wage scale differentials and there is no reason to believe that one will develop. The weak watered down controls passed will be the best that we will get and with the added budget pressure of the health care reform bill debt will only increase even if we don't pump more money into trying to force employment to rise.
That means that it will be up to each of us to understand that we need to accept that government isn't a solution to this problem and that it's not going to go away for some time to come. We've got to begin to look for ways to create more jobs and demand that businesses accept their social responsibly to seek more than the quick immediate profits that come from outsourcing everything from reading our x-rays to producing our goods. It's going to be public pressure on our business and financial leaders that produces results not government intervention. Only when we learn to demand of business to clean up it's act are we going to solve this economic mess we are in.
So join me in demanding that our business and financial leaders assume a socially responsible course of business that provides jobs and markets here in America. And tell our politicians thanks, but no thanks, when it comes to bailouts and handouts that only increase our debt without resolving any of the underlying problems that destroyed our economy.
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