Economics 101 Revised


By: Ken Hughes

It’s safe to assume the smart young Harvard educated investment bankers sent more time in Boston brothels leaning how to screw people than they did in financial management classes. Now the question is who does the public blame? When someone points a finger usually there are three more finger pointing back at them. The current financial crises are caused by inexperienced bank lenders dangling carrots in front of naive consumers. Today’s financial crises are a reenactment of 2001 with different players and different props. “Fear not we will survive.”

This crisis is temporary if it’s handled by those who understand finances. If the government jumps in America and the world could have a serious problem to deal with. In 1933 Franklin Roosevelt convinced the America people the government could solve the problem, rather than solving anything he made it worse. This country went from 1929 to 1941 in the worst depression in its history all because FDR thought raising taxes to provide government welfare was the answer. Government bailouts are never the answer it’s simply a means of penalizing those who’ve been victimized and reducing needed investment capital.

Thomas Jefferson said “The freedom and happiness of man [are] the sole objects of all legitimate governments.” It isn’t often I disagree with Mr. Jefferson but in this case unless the quote is revised to include “A government of the people, by the people, for the people” I must object.

Government doesn’t make the people the people make the government.

Today is not Mr. Jefferson’s America the government’s strayed far from what the founding fathers originally intended. In 1789 the federal government was secondary to the authority of the 13 Untied Colonies’. 160 years of rule by a monarchy made most Colonials skeptical of the new federal government. As the countries population grew government bureaucracy grew. Congress found new ways to circumvent the constitution. The construction was written to protect the people from an abusive government. Mans desire for control is a constant threat to our liberty. As citizens we must all be vigilant not to allow the barbarians in the castle.

The Candidates and the Media lead the public to believe electing a president is a panacea for peace and prosperity for the coming four years. That’s the furthest thing from the truth. Our destiny lays in who we elect to congress they’re the architects of our future. Presidents are subject to the advice and consent of congress, congress has no restraints. Congress is free to do their own bidding until fate or the voters call a halt to their antics.

Two economic problems dog this 2008 presidential campaign, the economy and energy. The mistakes both candidates are making is to think they can resolve these problems when neither has the experience to do so. Neither has a clue nor does congress how to get the nations economy back on track. America is a market driven economy while congress is a tax driven pseudo autocracy. To get America out of the current situation government officials need to work with those economists and industry executives who aren’t in trouble and have the proven ability to manage their businesses without government assistance. There’re a number of qualified men and women around if government officials will shut up and listen.

Many in congress no longer represent the public. They seem to only be interested in their own congressional longevity. In writing the rules this nation the founding fathers were careful not to make them so ridged they would hamper the progress of the new nation. When things are left to strong willed people those politically unconnected usually pay a price.

The constitution allows room for change. Many believe term limits should be applied to congress as well as the presidency. A maximum of 12 years service in either or both house of congress would keep fresh new ideals flowing and break up the Good Old Boy Club that exists now. There should also be a law that former members of congress can’t become Washington Lobbyist [ever.] Short of term limits the only way to get rid of congress persons who’ve overstayed their welcome is to vote them out of office, perhaps this is the election that will get the ball rolling.

This election every vote is important and the votes for congress are the most important that will ever been cast. There needs to be a new mentality in congress and it isn’t going to come with those who serve now. It’s imperative to rid congress of the Good Old Boys and bring in bright young men and women who understand the 21st century technologies

Ken-hughes@comcast.net

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