Tuesday, September 30, 2008

Re-Thinking Time

I seem to be losing my enthusiasm for debate. The
issues seem to be the same, just different people
and different time. Moreover, the problems are so
numerous and overwhelming that any solution seems
to be impossible. We commentators have our positions
and we all know where each of us will be coming from.
It seems we just say our points over and over. For
what purpose? I am sick and tired of watching the
talking heads on the news programs. They have "shows",
the purpose of which is hype a story or an event to
gain viewership. CNN vs MSNBC vs FOX is the corporate
story. For almost two weeks the financial crisis has
been their topic of interest. I wrote a few weeks ago
that perhaps there would be an event that would blind-
side us and accelerate our path to the approaching
cliff. Have to wonder if this is it? We are for all
practical purposes bankrupt, even before this Fianancial
Stabilization Act is passed. Passing it, which there
is no other choice, will only make our finances that more
difficult. The dollar will continue to devalue, and this
was pointed out recently by a Canadian commentator waiting
for his maple leaf to increase versus the dollar and then
come here and buy his car, and not even an U.S. auto, but
I believe he said an acura. Moreover, since we don't have
$700B, the Federal Reserve will turn on the printing
presses, inflation and further devaluation.

If one goes back and reads FDR's First Inaugural Speech, the
comparison to today is so similiar. Yet, in 1932 the U.S.
was much more of a creditor nation, now we are a debtor nation.
Indeed, almost a third rate debtor nation. I believe MD
gave a statitistic about U.S. birth deaths ranking in the
world and it was something like 22nd. Our ranking in science
and technology is about the same. Same is true for overall
education. Same is true for longevity; I believe that is
something like 37th. We rank behind every other industrialized
nation in hospitalization insurance. So, to think our economy
would remain number one in the world is a dream. Moreover, when
FDR came to the Presidency we were a manufacturing nation, and
he could turn that into a powerful consumer good industry and
high employment. Today, we are no longer a manufacturing nation,
rather we are financial-insurance-real estate credit nation. We
no longer can roll-our-sleeves-up and work or manufacture our
way out of our indebtedness. We buy it all from other nations.
To think that our leaderless politicians would decide to put the
U.S. first and renew manufacturing to the United States is
impossible. If renewing U.S. manufacturing is impossible, there
is the other solution to increase revenue. If U.S. workers, the
middleclass and lower classes, are going to be relegated to earning
wages as paid in Mexico, India, China then all the profits coming
back into the U.S. from that activity should be taxed. This revenue
would be huge. Now, don't we see the elites permitting that to
happen. My point is that to compare FDR's Address to the crisis
today is unreal. He had the ability to solve the problem, but
now we have no manufacturing basis.

So why fight it? Why continue to write or read about it. Why
present our case on here? We have no one to convince. Either
we are speaking to the choir or we are speaking to these
"otherworld" fundamentalists who have no rational reasoning.
It is just that I'm tired of seeing no progress. I enjoy
the mental gymnastics of developing or responding to the posts
and comments, but to what avail? Not saying I am deserting
the blog, but I'm thinking. I'm physically and mentally tired.

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