Thursday, April 17, 2008

Economic Nonsense

While the housing market tanks, and while many U.S. corporations continue to move offshore for either cheaper labor or tax advantages, you will continue to hear rubbish about “recessions” and “economic crisis”—you’ll be forced to choke on Keynesian nonsense day after day after day.

Want the truth? Here’s the truth:

• Thanks to sheer gluttony, the U.S. housing market, for the past decade or so, has been so vastly overpriced the Common Man has had to leverage himself five to ten-fold just to put a roof over his head. At one time, up until the late 1970s, one could purchase a home for 150% to 200% of his/her annual salary. Today? Ouch. Easy credit (freshman in college now get Visa cards with $5,000 limits!!) and “real estate speculators” have turned housing not into a necessity but a sport. The current market correction is not only inevitable but also good.

• While the typical American career person has seen, perhaps, a 10% increase in his or her wages over the past five years, his or her fuel charges to and from that career have tripled! (Why do we ship Alaskan and Texas oil abroad rather than utilize it “at home”? Why do we not import Alberta oil to any real degree? Why not Venezuelan oil? Why do we instead import a vast majority of our oil from the Middle East—from halfway around the world???)

• Whenever war is used to “spring” a nation from economic woes to the promised life, that cycle will, at some point, run its course, no matter how long the war itself lasts. Just study the Vietnam War for evidence of such.

So, turn a deaf ear to the nonsense, the bullshit, and the rubbish of a has-been nation in self-inflicted peril. Forget about “the Fed’s adjusting interest rates”—the idiot’s guide to economic stability—“housing starts” (another “economic barometer” based in backwards-ass idiocy; instead, a focus on “mortgage payoffs” and/or home foreclosures would be much better economic indicators), and job gains/losses (the most ambiguous, misleading, and manipulated statistic in American history), and instead think like a logical, neutral adult.

You’ll save yourself the headache and nausea.

Until next time…

Peace, Luv, and Prosperity

NP

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