How to Recover the Economy

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Recover the economy? Pretty bold title, eh?

It’s way too easy to misdiagnose what ails the economy these days. Then again, how do you not misdiagnose a condition when you’re seeing the wrong type of doctor? A podiatrist is as likely to catch your brain tumor as a cardiologist is able to treat you for kidney stones. Similarly, and far too often, those who claim to be able to fix the economy, such as then candidate Barack Obama and now the field of GOP candidates, are attempting to use Band-Aids in place of stitches or putting a bruised arm in a cast.

recover the economy, promote entrepreneurism

Pres Obama, honorary doctor of economics

Such economic doctors will read a story in the New York Times and conclude that we need to tax the wealthy more, return to the tax code of the 70’s, and utterly unlearn the Reagan philosophies in order to return to a fair policy toward the poor.

That’s a casted bruised arm.

Others might suggest that in order to save the economy, they personally need to swoop in wearing a cape and single-handedly lower tax rates “across the board” so more money flows and business owners create jobs.

Should have used stitches.

Simple fixes cannot act as a long-term strategy to recover the economy, though they may provide a bump that they can take credit for, followed by a slump for which they’ll be able to place blame.

The economy is alive. It is comprised of every person on the planet. Each person has an identity in a worldwide economic game. In this Massively Multiplayer Online Role Playing Game (MMORPG), everyone must follow the rules. Anyone found breaking the rules risks varying punishments ranging from fines to removal from the game for a time while sitting in the State Penitentiary. Of the majority who follow the rules, everyone seeks their own advantage as defined by themselves. Perhaps advantage means personal wealth; perhaps it means spiritual value. Some players form clubs/teams/guilds/unions in order to achieve a greater advantage than would have been possible on their own.

Since the economy is composed of ourselves, there can be only one cause for why the disparity of wealth has increased over the last few decades: we allowed it. When your boss’s tax rate was reduced under any of the past administrations, did you immediately ask for a raise or did you fail to realize that your labors were then more valuable to him? Would you have stepped into a position for an extra $0.50 an hour over what you were making to fill the job made available by someone walking out after having asked for a $3.00/hr raise and not getting it?

Probably the latter and of course you would have, respectively.

Since we cannot trust our fellow man to not undercut us for our own jobs, the only real solution to preventing recessions and depressions–and to recover the economy as it is–is entrepreneurism. More employers means more employees. Lower unemployment means rising wages.

Undoing Reagan era tax cuts only makes it harder on the employers and managers who are now likely leveraged with their own debts they would not be able to pay if their tax rate increases. Lowering tax rates on everyone favors higher income earners dollar-wise and there’s no guarantee that the money will be used to expand a business or even spent at all. It may in fact already be spent and put towards paying off some of that debt.

Having more people own their own businesses has a compound effect: 1) they free up a job for someone to come off unemployment and 2) they hire, directly or indirectly in the form of paying for services or using contractors, people off unemployment.

Unemployment falls. Wages rise. Economy recovers.

Moral for the politicians who want to recover the economy: pass policies that encourage entrepreneurism; pass on those that do not.

Nazis, their Victims, and Democrat Comparisons

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On the surface this piece does not take a side in the political debate, seeking only to remember the victims of the atrocities that the Nazi party of Germany perpetrated against the people of Europe. Readers with perspectives slanting leftward certainly find themselves agreeing with the notion. The author does, after all, belittle the comparisons being made that the current administration is like the Nazi party and Obama is akin to Hitler.

I would like, for a moment, to encourage those with leftward leaning perspectives to view the comparisons being made by their political opponants from the point of view of positive correlations rather than negative. What I mean is that when you hear someone claim that Obama is Hitler, don’t automatically think of how they’re different and dismiss the claim. Yes, the Nazis killed 6 million people, mainly Jews. Yes, the Nazis carried out these murders in a gruesome fashion and with horrible efficiency. The actions of the Nazis should never be forgotten and deniers should be pitied and not given a platform from which to spread their own deceitful propaganda. These are the key facts highlighted as the differences between the Third Reich and the Obamanation under which we now live. No one disputes these differences.

Now look at the similarities between the Nazi party of 1933 and the Democrat party of 2009. Both have succeeded assuming control over the financial industry to some degree. Both have or have plans to nationalize the healthcare system. Both parties believe in a program that can be called National Socialism, even if the word socialism is not currently in favor with the democrats to describe themselves. Both parties can trace their current ideologies to Progressivism, which many democrats, including Hillary Clinton, hold themselves up as in the tradition of early 20th-centuray Progressives.

In the article’s author’s own words:
“They [the Nazis] were the triumph of ideology over reason and even over humanity, the demonization of racial, religious and political difference, the objectification of the vulnerable other.”

Ideology over reason: Climate Change, Socialism
Racial news coverage: MSNBC Distorts truth to incite racial reaction, Police “acting stupidly”
Every Christmas there is a proliferation of stories against Christians displaying scenes of their faith.
An ongoing civil-rights issue, abortion, objectifies the unborn child that cannot defend itself–in other words, the personal identity of a vulnerable person is stripped away as it is killed.

With so many similarities, comparing the Nazis to the Democrats becomes like comparing a hurricane to a tropical storm: the one just needs time to do the damage the other’s capable of. Or maybe they’re more like the toxic chemical beneath the sink that a child has found and the one the child is yet to discover? Or perhaps the burnt down house and the one with the fatal short circuit?

Whatever the comparison of choice, to eliminate Nazism from the public debate on either side would be the greatest disservice to those killed in the holocaust. Their memories are most honored by our citizenry remaining vigilant to the point that we can ensure such atrocities never happen again, here or abroad.

Michael Vick Dog Jersey is Available

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As if it weren’t bad enough that the Philadelphia Eagles’ management were even pseudo-eager to sign the dog-fight trainer/sponsor, or even that the NFL was willing to allow him back into the league, now the league is offering for sale a #7 Vick Eagles jersey sized appropriately for your pooch.

They explain it away with the disclaimer that fans can have any they want name printed onto a dog’s jersey, including the name of the dog. Vick being a player in the NFL obviously would make his a valid name to place on your pup’s shirt. They also explain that it is by personal choice that the name appears on the shirt and they are custom ordered, that they are not openly promoting it.

All that’s well and good, but it leaves me wondering, why is Vick’s name available when his alias “Ron Mexico” and “Bad Newz” (the name of Vick’s dog-fighting ring) is off limits? Maybe the NFL does have a little bit of a conscience, sometimes?

If you think you are beaten…

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I’ve come across this verse multiple times in the last few weeks and wanted to share it for everyone who hasn’t heard it before. At this time, I don’t know who authored it; it certainly wasn’t me.

If you think you are beaten, you are,
If you think you dare not, you don’t,
If you like to win, but think you can’t,
It’s almost certain you won’t.

If you think you’ll lose, you’re lost,
For out of the world we find,
Success begins with a person’s will–
It’s all in a state of mind.

If you think you are outclassed, you are,
You’ve got to think high to rise.
You’ve got to be sure of yourself before
You can ever win a prize.

Life’s battles don’t always go
To the stronger or faster man
But soon or late the one who wins
Is the one who thinks he can!

Economic History Lesson Courtesy of

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I wonder if any businesses could survive for 40 years if they took out a loan and never bothered to tell their shareholders. Doubtful, but that’s what it appears the Congress did with Johnson’s help and the complicity of every President since. If Obama really wants to make a change, he should change the unified budget accounting policies and make a real attempt at balancing the budget.

“Nearly four decades ago, President Lyndon Johnson’s political sensitivities led him and the Congress to slough off some of the costs of an escalating Vietnam War through the use of accounting gimmicks. To mask the rapid growth in the federal government’s budget deficit, revenues from the surplus being generated by Social Security taxes were added into the general cash fund, without making any accounting allowance for the accompanying and increasing Social Security liabilities. This accounting-gimmicked reporting was dubbed “unified” budget accounting.

The government’s accounting then, as it is now, was on a cash basis, reflecting cash revenues versus cash expenditures. There were no accruals made for monies owed by or due to the government at some time in the future.

The bogus accounting understated the actual deficit for decades and even allowed for claims of budget surpluses in the years 1998 to 2001. While there were extensive self-congratulatory comments between the President, Congress and the Fed Chairman, at the time, all involved knew there never were any actual budget surpluses. There hasn’t been an actual balanced budget, let alone a surplus, since before Johnson and his cronies cooked the bookkeeping.

The doctored fiscal reporting complemented the short-term political interests of both major political parties. Additionally, the ignorance and/or complicity of Pollyannaish analysts on Wall Street and in the financial media-eager to discourage negative market activity-helped to keep the fiscal crisis from arousing significant concern among a dumbed-down U.S. populace.”

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