The economy has been stagnant for the last 3 years and the excuse continues to be that we are still digging out of an economic collapse rivaling the great depression. We believe that excuse? The reality is the economic collapse was caused by government interference. The government forced lenders to reduce or remove income requirements that people actually have the means to pay back the mortgages they agreed to. In order to convince the private sector to go along with this scheme to increase home ownership at any cost, the federal government guaranteed these loans so that there was no risk to the private institutions. The federal government is the root cause of this market meltdown.
The domino effect of these federal mandates to loan money to anyone and everyone impacted the overall economy, and sent the fragile auto industry into crisis. The economic crisis was compounding the fact that the auto industry had embarked on union contracts that were unsustainable. Add to that the years of regulations that have added costs to the production of cars by the federal government, and you have a cost model to produce a product that was sure to collapse. Instead of letting the companies go through bankruptcy, which has always proven to be the best method of restructuring, the federal government stepped in to take over GM and Chrysler. The federal government took tax payer dollars, saved the unions, and fired nonunion workers. Even though they say this was a “success”, it has hampered the auto industries comeback. Ford who refused the bailout is actually the healthiest car company today. The taxpayers are going to lose billions of dollars once the final tally is counted.
Obamacare is mandating insurance coverage, forcing doctors to take ridiculously low fees to see government funded patients (Medicare), increasing taxes on medical devices and innovative companies trying to make the industry more productive, forcing patients to tell the IRS about their personal healthcare matters, and people are surprised that the cost of healthcare is rising and the quality is going to be impacted as well. What do stupid people think will happen?
The EPA and the president stop the energy production of fossil fuels including the Keystone pipeline, put tax payer money into sustainable energy companies whose business models are unsustainable, and people wonder why gas prices average $3.50 a gallon. What do stupid people think about this?
The intrusion of the federal government into our markets and lives is destroying the wealth and health of this country and we applaud this president for “caring” about the “common guy.” Tax the rich because they make so much anyway!! It doesn’t matter that the people that are wealthy have created most of the jobs in this country, or the fact that rewards improve the likelihood people will risk their money to start a business, but we are too stupid to figure this out. Stupid people want to punish the people that create jobs as companies announce layoffs. What did the stupid people expect?
The federal government has not presented the country with a budget for 3 years. We accept it and chalk it up to politics. Chalk it up to people too stupid to hold their government accountable.
If we don’t take back our educational institutions from the incompetent people in charge, we are doomed forever. Our kids are not taught about our founding, constitution, the power of capitalism and free markets or how to think analytically, and we wonder why people are stupid enough to vote for more of this policy chaos?
Stupid is what stupid does…