Blogs » Wake Up » We avoided great economic disaster? I think not my friends...


This is a response to a recent "Letter to the Editor"

There are so many inaccuracies I couldn't help but post this response. I've quoted directly from the letter and responded to each quote directly below.

"After 12 years of Republican rule and failed policies, Americans turn their backs on change after just two years."

Change? What change exactly? Anyone who hasn't been sleeping at this desk for the past several years can plainly see that there has been no change in government economic policy. Indeed the Obama Administration has only amplified the same interventionist policies as the Bush Administration. There have been no substantial changes made by the current administration when it comes do dealing with the economic crisis.

"Despite the fact that the Democratic Congress pulled the country back from the brink of economic disaster, and despite the fact that the stimulus and economic policies of the Obama administration have saved or created more than three million jobs (Wall Street Journal, July 14, including 225,000 in Texas alone."

Absolutely false. The Democratic Congress has only postponed the inevitable economic downturn that must occur before any actual economic recovery can take place, and by postponing the necessary correction, they have amplified the severity of the downturn that will eventually take place. One glaring fallacy in this quote is that government has the ability to create jobs at all. Government does not produce, it coerces. It takes. It takes from one group of people to give to another. Any and all public sector jobs "created" are a non-productive burden to our economy as a whole and are ultimately jobs that will have to be terminated in order to allow those resources to flow back into the private sector if real economic recovery is to take place. Keep in mind that public sector employees make TWO TIMES what their private sector counterparts make.

"In early 2009, the nation sat on the edge of the abyss of a brutal recession due to incorrect financial policies of the Bush Administration, tax cuts for the top two percent, and a war in Iraq."

Here again the mistake is made that the policies of the Bush Administration are solely to blame. Government and FED policy for the past several generations have contributed to the crisis we now face. Republicans and Democrats share the burden of blame. Tax cuts are actually beneficial to the economy as anyone can see when you consider that (like it or not) most rich people are business owners and provide jobs to the private sector. When taxes go up, business can't afford to hire new employees. Conversely, when they are cut those resources can be allocated to create new job opportunities. I agree entirely that war is not good for the economy. The US Empire must end if our economy and future prosperity or to survive.

"Monthly job loss was 750,000 because of the destructive ideology of the Republicans in Congress. President Obama and his financial team stabilized our economy, stopped the housing market free-for-all, saved the American Auto Industry and charted a course for the full recovery of our financial system. However, since this plan entails more than 18 months to complete, and the uninformed in this country continue to get their news from the right wing propaganda machine, Fox News, we will continue to cower from progressive ideas to our ultimate detriment."

Unfortunately this statement is itself constructed not on any sort of economic logic, but instead on pure propaganda espoused by nearly all facets of the mainstream media. Nothing that Bush or Obama has done in the past few years has been good for the economy. It's actually humorous to think there has been any difference in the course of action taken by the past and current administrations. Progressive ideals are absolutely to the detriment of this country. Indeed it is understandable to cower from such idiotic forms of social engineering. For those of us who are brave enough to search for the truth, be encouraged by these words...

"Do not give in to evil, but proceed ever more boldly against it." This was the motto of Ludwig von Mises, a prominent Austrian Economist through who's work we can hopefully one day put to rest the flawed economic theories that have been embraced by government to the detriment of the entire global economy.

If one truly wants to understand the crisis the Federal Government and Federal Reserve have brought to our door, listen to our congressman, Dr. Ron Paul. His words and actions have been consistent for nearly 30 years, and he has sparked an intellectual revolution in this country that is only beginning to show itself.

Jon Alden Verret, Victoria