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NW IN | A couple of observations.
One...most of the net worth is held by the top 10%. Almost all of the net worth growth has gone to the top 1%.
"If congress doesn't use fiscal policy to deficit spend a recession is assured". So the Fed just keeps printing and Congress spends like drunken sailors and the party rocks on? Dollars are worth less, but all that pork keeps rolling. That sounds more like a supernova preparing for some spectacular s***.
"Need the federal deficit to be running at 600 billion to a trillion yearly. That gets us the growth we need". Wow. How'd we ever survive the first 120 years as a country without that kind of deficit spending? A govt is a black hole. The bigger it gets the more matter/energy/money it consumes. IMHO that "matter" never comes back efficiently. Some portion is lost forever.
"We have too much savings, we don't have enough debt, we need more inflation". Debt serfdom. That's a life that sounds fun. We need more inflation? How about "We need the .gov to report REAL inflation." Fixed if for ya. Auto/home/farm insurance. Up 8-10%. Health care/insurance??? Up 25-35%. Maintaining a vehicle or home. Up 5-7%. Food? Up 3-5%. Wages??? Stagnant. How about an economy that produces tangible goods? Not the consumerism crap that we've been force fed for 50 years.
We don't "need" inflation. We need a Congress with an IQ above Forrest Gump to rein in it's poor spending habits. We need a lot of things. God help us all. | |
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Maybe they will start buying some corn and beans?
