I don’t mean that in any pejorative way. All Americans are on a run-away train driven by our political elites and the powers that be behind the scene. Conservatives are the only ones who recognize that we are on a runaway train and all we can do is drag our feet in hopes of slowing the train down. The progressives and the elites see our foot-dragging and have declared us enemies of the country.
…. you got to think, we take an oath to support the country against all enemies foreign and domestic, and these are the domestic enemies. __ Representative Steve Cohen from Tennessee
So, because we support the constitution, which Congressman Cohen took an oath to protect (not , as he says, to protect the “country”), we are the enemies. He is not alone in that view. The President feels the same way.
Final Flickering Flame for Freedom is an essay by Mike Foil recently published by Canada Free Press. He writes in part:
We hail our founders and show a level of respect for the founding documents, almost on the level of them being two more chapters of sacred inspiration. But Americans, just like Christians, have been lax in their adherence to the law of the land and the Law of God. We have allowed those with ulterior motives into the highest positions of power in our government. We have forgotten the warnings which accompanied this country’s foundation:
John Adams – “Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.”
Benjamin Franklin – When asked what form of government they had formed by the Constitution, responded; “A Republic, if you can keep it.”
We have become a nation of immoral, Godless, lazy people; who rally around those who openly sin against the Word of God and who lie, cheat and steal as their standard operating procedure. God-loving individuals are ridiculed and our government has aggressively moved to eliminate God from every area of public life. We elect men and women to watch our country that we would not trust to watch our house or our children, much less our finances; and we do it over and over again, expecting better results each time. ( Bold added)
The 2006 Nobel Prize winning economist, Edmund Phelps, is quoted in this CNBC article:
“The larger picture is that the American economy has been pretty sick for some time — since the 1970s — and the symptoms of that are low employment and participation, as well as slow growth and probably low job satisfaction. Nobody is addressing what the government could do and should do to fix that problem,” Phelps said.
He added that the government was propping up established companies via carve outs, exceptions and regulations that increased barriers to entry in industry.
“New industries cannot get a foothold in the industries that already have these giant companies. Even with regards to start ups aimed at establishing new industries, they are so burdened by a thicket of regulations that as somebody said, if he were a start-up entrepreneur now, he would need more lawyers than engineers… The government is doing a tremendous amount of damage and it is failing to help a very sick economy,” he said.
The respected Chinese credit rating company, Dagong, has just lowered its crediting rating of the US from A to A-. Here is some of what Dagong had to say:
- The partial U.S. federal government shutdown apparently highlights the deterioration of the government’s solvency, pushing the sovereign debts into a crisis status.
- Since the outbreak of the U.S. debt crisis in 2008, the deviation between the federal government’s sources of debt repayments and the country’s real wealth creation capacity has been constantly broadened. The huge amount of government debts that lack the basis of repayment always stands on the brink of default, and this situation is difficult to change in the long-term. The federal government debt stock increased by 60.7% between 2008 and 2012 when the nominal GDP increased by only 8.5% while the fiscal income decreased by 2.9%, which indicates that fiscal income is losing its means as the primary source of debt repayments.
- Liquidity has been continuously injected into international financial markets from the U.S., which indirectly plays a key role in combating against the risk of government default. This implicit debt default behavior infringes upon the benefits of creditors.
- The debt ceiling has been extended continually, increasing the total amount of the federal government debts. In order to avoid the sovereign debt default, it becomes an inevitable choice for the U.S. government to repay its old debts through raising new debts. The fact that the debts grow faster than the fiscal incomes will further impair the federal government’s solvency.
- The Democrats and the Republicans of U.S. do not have a consistent strategy target to solving the sovereign debt problem.
The United States may not be in as bad a shape as many European countries; but it’s not for lack of trying. The ObamaCare disaster may be all we need to catch up and surpass our cousins across the big pond.
We are on a runaway train. I don’t think our foot-dragging can prevent the crash that is coming.
Well, that’s what I’m thinking. What are your thoughts?