The Pretensions of the Ages

There is small hope of economic improvement through Government action or activity, but Jeffery Sachs still has the faith. He does not understand that personal corruption and Privileged Interests will corrupt all government programs for their own personal benefit, so that economic gain will not be attained; the basic Result being only further wealth for the upper classes. This preservation of the social strata stands as a powerful impediment to any foreign aid to advance the living conditions of native societies, especially where it calls for a sharp improvement in the fate of the lower classes; any Proposal which would alter the native class system remains very vulnerable to personal corruption or outright Theft.

People are trying to rewrite Keynes one more time. This time, though, they might have got it right. Keynes was an old school Tie type, and could never understand the message carved into the base of the Statue of Liberty. He did not care much for the Underprivileged, and reacted much as do the Special Interests of the previous Paragraph. There is little ill will in any of This per sec, just adamant refusal to surrender traditional privileges and forms of respect. One of the great evils of economics stands as the ability to turn Classes against each other, all because of Everyone’s addiction to pretensions. All lose because of unwillingness to freely distribute the Profits of undertaken enterprise in a manner which will ensure further pursuit of Profits.

David Merkel lists 10 of the current Problems with the Global economy. The Reader of this blog should ask How each of the 10 Problems have been affected with this thirst for the preservation of Privilege. China wants to retain its reputation of a fast-growing economy. Eastern Europe, still controlled by its upper classes though now non-Communist, want the same prestige of the developed western European nations, even though the later have had an additional half-century of intense development. The Fed is actually trying to hide the real Cost of incurring federal debt by buying Treasuries to keep the Interest rates low, and thereby distorting the entire Reward system of the financial world. Corporations are overbuilding, and Banks underwrite bad paper, just to insist that they were not hurt by previous losses and prior practice was not delinquent. Business and Advertising cannot admit that American Consumers must cut back their consumption, so are launching a full-scale campaign to incite Consumers to go back to unsound debt growth. Ask How Long such farce can be maintained? lgl