The World Economy Without Job Growth or a
Change in the World Economic Stratagem
For those of us who research financial statistics from an unbiased position, that is- we are not being paid to offer our point of view- the way that governments conduct business needs to change radically.
Regardless of what the NY Times and other sideline pollsters say, free enterprise works if you pay your bills when they come due. Unfortunately, there is not ever going to be a continuous growth of any country's economy. It just isn't a possibility.
It makes no difference what any of us coulda, shoulda, or woulda done differently. It is time to sit down and put the world in the hands of its citizens after prying it out of the hands of the bankers who are morally and financially bankrupt.
In a recent case of JP Morgan Chase, the guilty people bought their way out of long prison sentences. Unfortunately, this happens all over the world. Last year, there was the largest fraud case in history. Did the criminal receive the death penalty? Was he executed for his and his bosses crimes? Were his bosses even sanctioned? NO! It is time for the wealthy to pay for their crimes and do the time in a prison cell. No country club prisons, no linen service, no mints on the pillow, no turn down service, no gourmet food.
My first advice to George Papandreau, the then Prime Minister of Greece, was to enforce the tax law, prosecute the violators, cut government waste and spending, immediately cut 30,000 to 50,000 jobs, and reduce the government fraud and corruption by implementing long prison sentences to Greece's worst prisons for the criminals.
I then advised him to cut 150,000 other government jobs over the next three years, this part is in process as we speak. The implementation of this advice cost him his job, but will save Greece from financial ruin.
Austerity, the requirement of balancing your budget annually was not a Angela Merkel idea. Placing the European Union into austerity as a whole was my idea. I accept all complaints and all accolades for its implementation. Every month I pay my bills. I owe less than $5,000 not including student loans for my BA and upcoming Master's degree next year.
Considering the fact that former Sec. of the US Treasury Tim Geithner increased the money supply to a hideous level, but did not require the US banks to loan that money out, further crimping the cash flow of the most essential part of every country's economy- the medium and small business and the fact that both the chief counselor for the IMF and the US Federal Reserve have no clues about how to create jobs- and I do, you should stop listening to them. You should listen to someone who is not getting paid to create chaos in the world's economic system- myself- and others like me.
Clark Howard can help you change a light bulb, but he too has no idea how to fix the economy. Paul Krugman can write a reasonably good column, but I think his time in the sunshine might have passed already. Quantitative easing has not worked. The US Federal Reserve's own books are fudged- yes, fudged. On paper they balance, but in reality, the debt that has been leveraged to achieve that "falsified" balance sheet balance is untold of in modern history. If we only knew just how bad it really is......
The house of cards would come falling down around the world-
There is no quick fix for the world's economy. The banking industry needs to be regulated tightly around the world. Violators of these regulations need to be imprisoned "in person" - locked up like the criminals that they are. These financial criminals should lose every asset that they own in repayment for the financial damage that their actions cause to other people.
My advice to President Obama- let Obamacare go down to hell where it belongs. It was a bad idea to start with. Instead, the US Government could set up their own hospitals to compete with the overpriced free enterprise hospitals. The poor, and those with medium income could get quality care at these hospitals. The government could get doctors just out of medical school with a trade off of reduced pay in exchange for student loan debt. This would help to weed out the 'profit seekers' from the doctor's pool, it would create competition throughout the industry, it would reduce prescription costs, it would reduce malpractice insurance over the long term by providing new doctors with qualified supervision that is not 'profit motivated.'
One of the first pieces of advice for the governments of the European Union was to reduce prescription costs paid to pharmaceutical companies and then to reduce the pay for doctors across the board. The medical field needs to meet the needs of those who need care, at the lowest cost, and at the lowest level of harm to those who are already physically and psychologically injured.
It is time for responsible government oversight of the medical and banking industries.