David Frum came up with a measured argument which should be read. He seems to cover the ground fairly well. The bureaucracy entailed in any form of construction is easily found; just try to build something! He projects high accuracy in protesting the type of Government Spending which would be utilized; remember the Beltway is governed by lobbyists, all representing large Corporations who want the greatest Profit with the least labor Cost expenditure. His last Point deals with the damaged financial system. Here he might be a little off the Mark. David is still addicted to the Too Big to Fail complex. We are talking about a rotten financial system designed solely to enhance the benefits of Management and major Investors. The Fed position would assert that these economic Profits must be maintained, though the process has always been a discrimination against Debtors, Stockholders, and small Investors. I am of the belief that Too Big to Fail must be altered to Has to Fail before a bright horizon will ever appear. Government Spending must intervene to carry the flow of Cash within the banks’ failure process, but We first must get past Congress.
I witness nothing I would really desire to discuss today, much less anything that will buttress the previous paragraph, so I will digress into personal ruminations about the previous sentiment and the current state of the economy. The progress of the economy is suppressed to major degree because the Profits are channeled, and necessary sectors are not receiving the funds to properly act within the economy. The real trouble consists of the most successful of the recent boom, and their control of the policies of Corporation, Markets, Finance, and Government. They insist on the maintenance of their Share of any business endeavor, though the Recession resulted from the inadequacy of Profits to grant both their demands and fund the necessary sectors for economic performance. Failure was bound to arise, and return to success will not come until their stranglehold on the economy is removed.
This View will seem extreme to most Economists, and all Business personnel. I actually wonder at this cohesion, as small Business and small Banks endure the victimization as well as labor; themselves being a major factor in the necessary sectors which are not being properly financed and funded. Change will not be easy because of the entrenched wealth of the new Oppressors, but alteration must come before economic growth can be realized. Do I sound like a wild-eyed Revolutionary? lgl