World stock markets, starting with China’s, took a big hit Monday, and a recent headline shouted ‘US Stocks Tumble on Global Slowdown Fears’. We are all supposed to wring our hands that a new recession may be on the way but the Obama Depression is still going strong so we should focus on that first because it explains everything.
Under Obama the middle class in America is shrinking fast, just like we conservatives said it would under socialism, as it has shrunk in Europe. Millions of college graduates cannot find jobs, and the poor are getting poorer every day.
This is all predictable but avoidable. We can have all the prosperity we want with the right policies. That is why Donald Trump is resonating with Americans. He plans to reverse the current situation with good policies focused on growth and opportunity. Now look at what Foxbusiness.com reported:
Investors on Friday received fresh evidence of the slowdown in the world’s second-largest economy (China). An early gauge of China’s factory activity slumped to a six-and-a-half year low in August, triggering steep declines in stocks across Asia and Europe, where many companies depend on China for demand. …The downbeat tone to stocks continues to be driven by “the uncertainty and speculation about the pace of global growth and what might the Fed do in September,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. Minutes from the latest Federal Reserve meeting showed officials remain divided on whether to raise rates next month. (end of Foxbusiness.com excerpt)
Thus we are left once again to believe that our well-being depends on communist China and on the actions of the Federal Reserve. This is what we get with an economy based on theory and not on fact and action. Under socialist theory we are supposed to look to government for our well-being, and be happy with government control of the economy. Our president and our Federal Reserve are supposed to let us know what we can and cannot expect.
This comes after decades in which American prosperity has increasingly been undermined, commandeered and controlled by the government and by other socialistic forces, and we are left thinking that we can no longer control our own destiny.
Nonsense. Our nation was founded for us to be self-sufficient and productive, and we were that way for 200 years when we led the world in everything from railroads to steel technology to cars to computers. But that has been slowly eroded by a century of leftist intervention, both public and private, starting with president Woodrow Wilson and then continuing with Franklin Roosevelt, Lyndon Johnson, Jimmy Carter, Bill Clinton and now Barack Obama.
How did communist China become so dominant in the world economy?
Because socialism has driven tens of millions of good-paying manufacturing jobs out of the Western nations of the US and Europe, leaving an opening for low-wage nations like China. Socialism has created our ‘post-industrial’ societies where every person is supposed to be an artist or musician or actor or college professor, and nobody is supposed to work hard or get their hands dirty. Ours is an increasingly urban, feminine, feminist, gay, academic, bureaucratic and media-driven culture. Meanwhile China is exploiting capitalism and free trade to enrich itself and save its sick ideology.
When we look at the industrious Chinese we see why this has been happening. They are working hard in order to get out of poverty like Americans once did, with our humming factories. The United States then became rich and Americans now see no point in working hard; we are going the other way from China with our media cheering the trend and glamorizing sloth and empty pleasure while marginalizing hard working folks like Tea Partiers and conservatives.
Still many Americans remain diligent knowing that hard work creates not only prosperity but a strong sense of self satisfaction. If you look at videos on YouTube of Midwestern farmers or barge captains on the Mississippi River or railroad workers in Maine, you see them working hard, helping the economy and not complaining a word. Meanwhile tens of millions of Americans complain all day or sit on their butts doing nothing and collecting a check from the taxpayer. It is shameful.
America was the ‘economic engine of the world’ for two centuries and did not have to worry about China or the Federal Reserve. But no longer. Because factions on the Democrat left – the labor unions, the taxers, the regulators, the academics, the bureaucrats and the environmentalists – have done everything in their power to frustrate our prosperity and drive jobs away.
Labor unions destroyed millions upon millions of the best jobs in America with outrageous wage demands, strikes, confrontation and violence even when union members already were making huge amounts of money. Unions destroyed the steel industry, the railroads, the auto industry and much more.
As recently as Autumn 2012 a strike finally shut down Hostess Bakeries, throwing 18,000 people out of work. Rather than cooperate and make concessions to keep Hostess open as it struggled financially, the unions went the other way as they have done continually in the last century. On the West Coast today unionized dock workers have been slowing down the whole American economy with their strikes and labor actions despite the fact that the average dock worker makes $100,000 a year (yes, that’s one-hundred thousand dollars per year).
In another case out of thousands of pure obstruction St. Lawrence Cement, a Canadian company, was finally told in 2006 by government officials that it could not build a new high-tech cement production facility at Hudson, New York, 125 miles north of New York City on the Hudson River, to replace older plants in the region. The Hudson valley produces cement based on its rich limestone deposits.
The working people of the region favored the plant, but the elite environmentalists, based in New York City and at the universities, fought it for years even though it would have been cleaner, more modern and more eco-friendly than the existing plants. So obviously the opposition was not even about the environment – it was simply to stop economic development. And that means that the cement industry probably will lose jobs to foreign producers, like so many American industries have.
In 2008 alone 400 high-paying paper manufacturing jobs left Berkshire County in Massachusetts because environmentalists had driven the cost of electricity sky-high with their “green” policies. The jobs went to states with lower power costs. Meanwhile “green” activists are making tons of money off of solar panels and windmills while our electricity rates skyrocket and our jobs disappear as a result.
In other words there is no problem creating jobs in America. We can have all the prosperity we want. The problem is that so many people do not want widespread prosperity for all of us, but only a little prosperity for themselves. They are intentionally undermining our economy while they then actually benefit from our misfortune. For instance, the five richest per-capita counties in America today all surround Washington, DC. Don’t believe it? Look it up – places like Loudoun, Montgomery and Fairfax counties. And who lives there? Titans of industry? The Wall Street nobility?
No, federal bureaucrats working in Washington are living like kings in those counties while jobs disappear all over America for lack of investment capital that is being siphoned off by the federal government.
The regulators are killing us too. Look at how the Environmental Protection Agency wants to control every facet of life, at enormous cost. Example: Our US freight railroads are the backbone of the American transportation system, moving 1.9 TRILLION ton-miles of cargo every year. They are super-efficient and are thriving in a deregulated environment since 1980 and the Staggers Act.
EPA keeps making more and more costly and stringent regulations for locomotive emissions rather than letting the railroads do their job, which they are already doing remarkably well with locomotives that already are remarkably efficient.
But no, EPA keeps pushing for more and more emissions reductions. It then becomes absurd and oppressive. After all the Law of Diminishing Returns shows that the last 1% of reduction can be as expensive and complex to attain as the first 99%, and we passed the economic/environmental break-even point many years ago.
At the same time every business proposal from pipelines to factories to mines to energy plants now comes under fire because many of these opponents are really full-blooded anti-capitalists and marxists who are seeking to shut down America, step by step by step, region by region, as in the case of the cement plant mentioned above. The Leftist Media then join in. It happens incrementally, here and there, so that we do not see the scope of the real damage in making our whole nation poorer. Liberals want this so that they can control the people through government handouts.
Consider “fracking”, the oil and natural gas drilling practice that is producing huge bonanzas of energy. “Fracking” has been going on in the US for 60 years; there are an estimated 1 million “fracked” wells. “Fracking” is extremely efficient and safe but environmentalists have made it out to be a bogeyman and are trying to stop it. They even have claimed that “fracking” causes earthquakes, which is crazy.
In short we can have all of the energy we want. There is virtually an unlimited supply of energy around the world, yet environmentalists tell us that we are running out. That is nonsense. This fearmongering is simply part of their radical left-wing agenda to kill our economy. And conveniently this agenda is enriching the ecologists with their inefficient and ineffective windmills and solar panels.
Friends, we can have all of the prosperity that we want. The American states that are doing the best economically are the low-tax, nonunion conservative states. The nations around the world that are doing best are the capitalist nations. We have the proof of success right before our eyes. But still millions of people ignore this reality because they just don’t want us to know what prosperity is, or to have it at all.
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