The behavior of both parties during the 'let's play chicken' with the federal government's credit status and ability to pay its obligation over and against the peppered up focus on the deficits looks more like a political game than a sensible way to run a government.
Hot words reverberate in the dining rooms of local eateries, farm homes, and townhouses: The hot talk centers on the critical issue: "THE FULL FAITH AND CONFIDENCE" of the consumer, the citizen with a need for a sense of direction and security handling their valuable assets and savings. They want to know, 'Is it safe to return to the marketplace, to make commitments, to go to the mall or Sam's Club and do a little discretionary shopping. After all, the entire economy rests squarely on the 'spending' of the average citizen. (Actually millions of pre-teens and teens who spend at the mall during good times, times of prosperity.)
Say What? Spend what?
There are presently, in Michigan, ONE HALF A MILLION UNEMPLOYED OR MORE, SOME ON UNEMPLOYMENT STIPENDS, OTHERS NOW OFF THE ROLLS ENTIRELY. What can these folks spend to jump-start the economy?
How does the fly paper legislative move by Snyder work? The $800 million or so removed by new taxes on pensions and annuity income of pensioners was stolen from those who saved and planned for retirement based on this resource. According to recent information from MIPSERS those pension dollars have a normal turnaround of $6.49 in economic activity when spent by those who earned it.
Now take $6.49 and multiply that by the number of discretionary pension dollars REMOVED FROM THEM BY SNYDER'S GRAND THEFT GIFT TO HIS BUSINESS BUDDIES - say $800 million, and there is ONE ENORMOUS NUMBER OF DOLLARS TAKEN OUT OF MICHIGAN COMMERCE AND ECONOMY. How many factories with how many workers does it take to make up for this GIGANTIC GAFF REDUCING CUSTOMER DEMAND AND SALES?
Nerd-o-nomics has greatly worsened the dirth of demand. Where are the customers? The summarily removal of disposable, discretionary money; to spend that was taken by TeaPublicans from the poor, the retired pensioners, and the elderly has been blown on 'gifting' the Chamber of Commerce business types (without any directives).
The 'Nerd's near $2 BILLION tax shift and other excessive pro-business tactics such as putting stringent limits on health benefits and removing pricing from items at WalMart and other retailers has assured that many businesses will get a 'Tea Party' bonus, but a bonus in tax reduction is predicated on the idea that there is commerce/demand/buying and selling activities upon which taxes are assessed.
Nerd-o-nomics has delivered: No business, anemic demand, lower taxes, but no progress toward recovery. No Jobs. No New Jobs!
The Citizens & Consumers Are Fed Up
What entity, government or individual can be trusted? What media is being honest and forthright about the true state of economic affairs in America?
West Michigan's premiere business editor and reporter has laid out the logic found in the unifing elements between the Tea Party and the Occupy Wall Street Movement.
Writes Rick Haglund:
"Occupy Wall Street, a growing protest against corporate greed, income inequality and a few other things, is spreading across the country."
"Conservative pundits with secure jobs and comprehensive health care benefits scoff at these protests as the unfocused rants of fuzzy thinking left-wingers who want to destroy capitalism. On their website, occupywallst.org, the protesters describe themselves as a "leaderless resistance movement employing the revolutionary Arab Spring tactic to restore democracy in America.
They say they are the 99 percent of Americans who 'will no longer tolerate the greed and corruption of the 1 percent.' Whether the Occupy movement will jell into a potent force for reform is far from clear. It could disappear as fast as it started."Haglund concludes with this strong assessment:
"But don't count it out just yet. The Occupiers represent a widespread belief that Michigan and the rest of the country have gone off the rails. The tea party was born out of the same frustration; that America was losing its greatness. But while the Occupy movement blames corporate greed, the tea partiers point their angry fingers at government. The Occupiers are raging against more complex forces, which they probably don't fully understand..."Another snip:
"I'd bet that many Americans who wouldn't go near an Occupy demonstration share the Occupiers' belief that the economy is rigged against them. Corporate profits are at record highs, yet jobs are scarce. Interest rates are at record lows, but it's tough to get a loan. Many people are working harder than ever, but can't get ahead. Although economists declared the Great Recession over more than two years ago, most Americans still are losing ground.
A new study by two former Census Bureau officials, reported last week in the New York Times, found that household income has declined at more than twice the rate since the recession ended than it did during the downturn. While household income declined 3.2 percent between December 2007 and June 2009 - the start and end points of the recession - it fell 6.7 percent from June 2009 to June 2011, the study found.
A new survey by Lansing-based EPIC/MRA, taken earlier this month, found 52 percent of likely Michigan voters believe the state is on the wrong track, while 72 percent think the nation is on the wrong track.
THE STATE LOST NEARLY 6,000 JOBS IN AUGUST. THE STATE'S UNEMPLOYMENT RATE HAS RISEN FOR THE LAST THREE MONTHS AND STANDS AT 11.2 PERCENT.
Which leads me to this question about the Occupy movement: WHAT TOOK IT SO LONG?"
(emphasis added)
SEE: "Occupy Wall Street protest a long time coming" October 16, 2011.
Ignore Rick Haglund's analysis at your own peril. Change is coming. Change that is pro-active and productive? THAT POSITIVE TURN IS UP THE GREAT AMERICAN MIDDLE-THE SO-CALLED SILENT MAJORITY - OR NOT.
Original.
No comments:
Post a Comment