Hello!
(Echo... Echo...)
Nice to know folks are listening!
If I had any viewers this summer (which I didn't), I'm sure not posting for six months would have scared them away. Well, here's to a new year and new beginnings...
I'd like to point out an interesting tidbit I read today. Chief Justice John Roberts has declared that Congress has given itself cost of living pay raises while neglecting to do the same for federal judges. These judges, of course, are truly being passed over when it comes to federal pay; their meager compensation (which ranges from about $170,000 to almost $220,000) has apparently been forcing our federal judges to scrimp and save in order to keep their house(s) and such.
But I've got a real question... why are we giving Congress OR federal judges a raise in a recession? I mean, in order to support giving raises, ergo, to support increased federal spending, responsible government would have to raise taxes, and a responsible government doesn't raise taxes in a recession! And a responsible government doesn't give a raise to the people who have already helped to carve an unprecedented budget deficit and accompanying national debt.
Debt Check: Now over $10.5 trillion dollars, or over $34,000 per American.
America has steadily drunk itself stupid in the party that was the 2000's. WHOOO!!! Irresponsible government spending! Tax breaks for the wealthy! Deregulation of the finance and housing markets!
Now we have a hangover. And the government is trying to save the biggest partiers, most of whom are not going to be losing their houses or retirements (for shame...)
The truth is, America forgot the thrift and saving that our Greatest Generation possessed, the discipline that catapulted America to its elite place as sole superpower. From the Baby Boomers on Americans have become petulant, entitled brats. Thanks a lot!
The country seemed to be waiting on the Christmas retail season to save the economy. However, we didn't build our economy on retail in the post War era and it isn't retail that will do it for us now. Saving, safe investment, and patience build an economy. We can take a lesson from the Chinese peasants that have been driving China's phenomenal rate of growth for the past generation. These industrious laborers save, on average 1/3 to 1/2 of their annual earnings.
Imagine what would happen to our economy if our banks had that kind of capital to work with? If Americans were capable of saving.
Evening,
The Conscientious Observer
He who does not economize will have to agonize. ~Confucius
