Is it just about the Economy? | Eastern North Carolina Now

    A recent NY Times piece observes wisely about the current campaign for President:

    NEWS FLASH! Mitt Romney thinks President Obama has failed to deliver the economic recovery Americans deserve. EXCLUSIVE! Mr. Obama thinks Mr. Romney would take the country back to policies that will hurt the middle class.

    In speech after speech, the two presidential candidates are making the same points again and again. Sometimes there are new rhetorical flourishes or a slightly adjusted approach. But as they crisscross the country, little changes.

    And with months of campaigning left, there's no reason to think anything will.

    The singular focus on the economic woes of the country has produced a kind of one-note campaign on both sides. And with the nation's economy having settled into a slump, the campaign speeches have, too.

    Find the full article at: http://thecaucus.blogs.nytimes.com/2012/06/15/singular-focus-on-the-economy-leads-to-one-note-campaigns/

    I am not sure any "government program" can "solve" an economy run down the tubes since Reagan started the "trickle down" assumptions which have obviously failed. It came over many years and money is stolen (hoarded) which needs to circulate. Even those who go back to the history of the Great Depression cannot clearly analyze whether it was New Deal programs / WWII / general rise after economic fall / or just what. Likely, it was a combination of all the above.

    What we know clearly is that laws and rules of finance were put into place to prevent a re-occurrence. These were put aside and unenforced since Reagan took office---by both Democrats and Republicans. That proves rich and wiley people will skin anyone without someone to make some rules and enforce them for the protection of the innocent. Even honest people in investment and banking have been ignored when they knew crooks were having a field day.

    Were it not for extensions in unemployment payments, we would have the same soup kitchens / tent cities / hobos riding trains we had in 1929. This is real and was caused by failure to regulate, among other factors.

    The simplest form of regulation is simple free enterprise and competition.

    All the laws and regulations on the face of the earth can't legislate morality. A simple look at Prohibition shows what a failure laws against alcohol consumption were. In a way, our lust for power and wealth has become similar to wanting a stiff drink. Someone hooked on alcohol or drugs does not care about the law.

    This busted economy is fostered by people wanting to have everything and have it at a cheap price. The obsession to be wired and have a new flat screen TV has us hooked to the point we are neglecting things like a big tree threatening your house. Yes, it is leaning. Yes, we had a hurricane and many neighbors had their trees fall. Yes, there are places in the neighborhood which are now kindling for a monster forest fire - But that new I-phone or TV can be bought on credit and I will just afford it!

    Maybe, God won't let those hanging limbs fall on my child or me.

    When banks started making bargain loans to everybody on houses, one was making big bucks on fees. Across the street, the bank was smaller, but could not let the big one beat it. They started making better deals for less fees and soon got bought out by the bigger one. The big bank was less subject to local ownership and far more leveraged than the secure bank. In fact, the small bank with far more secure loans was just another asset to the big one. It did not change their real picture of risk. It just gave them a little more time to risk more and deceive more people to put money with them.

    The sure sign any economy is getting in trouble is when diversity and small business gives way to big boys with big bucks to buy the politicians making laws to regulate them.

    Somewhere in the middle is the wise ground. Enough morality and internal oversight to avoid problems, but not so big somebody can get away with theft of the pen.