The world has created another debt bubble and we’ve chosen to kick the can down the road just like Roosevelt did in the ‘30s, and Japan has been doing for the last 20 years. Also, just like in the ‘30s, we are going to get the same result which is persistently high unemployment and generally declining global economic conditions unless drastic steps are taken – and the cure to our problem is staring us right in the face. [ Let me explain.] Words: 760
So says Toby Connor (www.goldscents.blogspot.ca) in edited excerpts from his original article*.
Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Connor goes on to say, in part:
Every two years our senses are assaulted as politicians spew an endless stream of nonsense in the attempt to garner votes from a mostly unsophisticated American population. This year the major topic, not surprisingly, is jobs. Each and every politician would like you to believe that he or she has the cure for the persistent unemployment problem. Of course it’s all completely ridiculous.
You would think these people could read a history book. Never in history has government been able to legislate productivity. Governments just misallocate capital. They tax one group of people and give the money to another group of people to dig holes. Of course, once the hole is dug or the road built, that job expires. It’s not a sustainable productive use of capital.
Real productivity is entrepreneurs creating sustainable companies that satisfy a human need. AAPL is a sustainable business satisfying a human need. GOOG is a sustainable productive business. XOM is a productive business. None of these companies were legislated into being by government.
What we need to do is allow human ingenuity and creative destruction to actually cure our problems. The biggest problem the U.S. faces today is the triple threat of Social Security, Medicare, and Medicaid. These three entitlement programs have bankrupted the country, and let’s be honest, there is no way any politician can possibly reform these programs, or even attempt to do so, and have a prayer of getting elected.
Specifically, We Need To…
Here’s how to cure our problem:
- make Social Security, or government health programs obsolete…
- allow capitalism to work and insolvent companies to go bankrupt.
- funnel taxpayer dollars that are now flowing into the endless black hole that is our current financial system and government stimulus programs into the biotech industry, and
- rather than fund expensive surgeries or endless treatments that only manage symptoms, we need to discover real cures for disease, injuries and aging.
Yes, what I’m talking about is a complete overhaul of the global healthcare system – creative destruction on a massive scale. Yes, some industries are going to suffer and go bankrupt, like health insurance, many doctors, and a big part of the pharmaceutical industry but millions and millions of jobs will be created and when we reach the stage when we actually cure diseases, especially as related to aging, we will eliminate the gigantic burden the three big government entitlement programs.
If people can remain healthy and active for their entire life there will be no need for Social Security benefits and Medicare and Medicaid. These programs will become a thing of the past, as most diseases, and injuries will be quickly and easily reversed or permanently repaired.
Instead of the same old nonsense drivel we get during every election, it would be refreshing if politicians understood the real problems, and the real cures, and put in place policies that would actually have long-term benefits and accelerate the transition through these dark times and into the next Golden age. Congress, are you listening?
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*http://goldscents.blogspot.ca/2012/08/congress-are-you-listening.html (To access the above article please copy the URL and paste it into your browser.)
Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
The level of debt has surpassed the possibilities of being serviced. Mathematically, the debt problem cannot be solved, regardless of economic policies. That, unfortunately, is written. For it to be serviceable would be to violate the laws of mathematics and that cannot happen. [As such, America is quickly approaching a catastrophic economic collapse. As repelling as that sounds, it’s in your own best interest to learn just how bad the situation is. This article is an attempt to do just that.] Words: 310
This short video – on the unsustainability of government spending – should be watched by everyone, including those not yet old enough to vote. It should be shown in every high school and college classroom. Anyone that cannot understand this presentation should not be allowed out without a guardian.
The articles posted on this site are so serious in content it always is enjoyable when an opportunity presents itself to comment on a serious subject but still manage to put a smile on your face. This is one such occasion. Enjoy!