Friday, April 5, 2013

Heads in the Sand

The out of touch world  

inside the Washington 


The more I read about the U.S. Government’s view on what happened to the Economy in 2008, the more I am convinced that there is a rather large Ostrich Farm located within the confines of the Washington, DC Beltway. The Beltway is the area inside the I-495 highway that circles the Nation’s Capital. Within this circle reside our federally elected officials and an enormous number of Government employees. These good folks seem to be of the mind that all is truly well with the Union; after all, the President told us it was back in January. I can understand a little of their “head-in-the-sand” mentality, but, come on. Someone there must watch the News, or C-Span, or some form of media that gives them some sense of where the American Public stands on issues as large as the Economy.

As I’m reading “Foreign Affairs” (Jan./Feb. Issue), I realize that the article I’m most interested in is written by an ex-U.S. Deputy Treasury Secretary. I figure that, now that he’s out of the political circus, he may actually be in touch with reality and make a rational argument for his theme, “The Fall and Rise of the West”. And, then I hit upon the excerpt below:

“While the grim effects of the 2008 financial crisis still resonate across the globe, the recession wasn't all bad:” [1]

“…the recession wasn’t all that bad..?.” If it was just a recession, perhaps it would not have been that bad, but we encountered a modern-day Depression: not a recession. Anyone who was paying attention will agree. A look at the real numbers will tell you right away that our Financial system, backed by our Corporate giants, brought this Country and the entire World to its knees. Since its inception in 2008, this Depression has effectively bankrupted the Economies of some heretofore stable Countries; Greece, Spain, Great Britain, Russia, Japan, the United States, and Mexico to mention a few.                                    
 “…the result is a U.S. economy poised to emerge stronger than it was before...[1]
We have a “bought-and-paid-for” Congress that keeps trying to secure our National slide into the gutter. We have a large group of “higher moral” States that feel they, too, can run roughshod over the American Public. All this is fully supported by a relative handful of U.S. based multinational Companies, and their puppets in Washington, DC. If you doubt this for one second, I refer you to ALEC, the American Legislative Exchange Council.

Here are a few demographic numbers that will bear out an argument for Depression:

BLS = U.S. Bureau of Labor Statistics

Who would ever have thought that the Carter years saw the highest manufacturing employment years? (almost 20 million jobs) There are figures that some believe describe the true unemployment rates in the U.S. (the SGS Alternate) With the true unemployment figures alone, this statement is ridiculous.

                                           SGS = Shadow Government Statistics

Definition of an Economic Depression:
1. a decline in real GDP exceeding 10%, or
2. a recession lasting 2 or more years.

Still, none of our financial “leaders” have been indicted, stood trial, or gone to jail.

[1]    Roger C. Altman, Why America and Europe Will Emerge Stronger From the Financial Crisis
       Foreign Affairs Publication, Jan./Feb., 2013

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