Optimistic
by Asher B. Edelman
I am optimistic for the economic and social outlook for the United States! During the next four or five years we will, once again, shift into gear. “Occupy Wall Street” will come to be thought of as “Save the Nation(s).”
The present Administration is moving, and will move quickly, away from the “cow tow” to its previous campaign finance supporters, its paralyzed group of economic advisors (where advice is the banking establishment program of “save the banks, be damned with the rest”) towards advisors who understand the wants and needs of the nation(s).
Moderate Republicans, a concept of the past, will reappear. Supply-side economics, a failure from its inception, will be shelved; the Goldman-designed dangerous derivatives – Geithner and Bernanke – will be replaced. Fiscal spending, infrastructure rebuilding, leadership in educating our youth, fairness in protecting the health of the populace will resurface. Banking and investment law will be reset to the rules in place prior to the Reagan Administration.
Yes, all of this can happen in a peaceful environment if government pays attention. There is a serious shift in the political environment of the U.S. taking place. “Occupy Wall Street” is simply a symptom of the need of the people to express their frustrations. We hope it will not lead to violence, either internally generated or from the outside. But wherever it leads the world is about to begin a transition, a transition for the good. Those of us who pay attention will benefit as human beings and in all ways economic. I am optimistic for the future though fearful much serious economic and social pain will be experienced getting there.
In 1961 (50 years ago) I did a paper entitled “The Economic Consequences of the Great Crash.” You can download it here. Though a bit sophomoric and pedantic, I think most of it is relevant to where we are now and where we must go. I was twenty years old. If you have the patience, give it a read.
For archival information visit www.asheredelman.com
Those that think Occupy Wall ST will be a savior of the nation are mis guided.I find it interesting that in the shadow of the worst mass massacre on U.S. soil no American Flag flies at their lair. Instead they desecrate the flag by sleeping on it. Their signs and tirades of anti semitic speech are common place. Yet the biased liberal media hides that and coddles them like an egg. They want,they should have,they should be given from those that have taken risks been creative worked hard and took the opportunities that many have sacrificed and given everything for so others can live in freedom. Instead they wear Che Guevara shirts talk socialism and expect the tax payer to pick up the tab for security and the mess they are creating
Having disdain for supply-side economics doesn’t hold water to the facts
During the darkness put upon us by the Carter WH inflation was out of control. CMA and Ready Asset accounts were yielding 22%. Hard to imagine in this environment. Those of us that had to put gas in our own cars would have to wait over an hour on gas rationing lines on certain days of the week. We were told by the administration we were the problem we needed to look inward.
Sound Familiar?
When morning came to America President Reagan offered a simple approach
Reduce Growth of Government Spending
Cut Tax and Capital gains Tax
Reduce Government Regulation
Sound Familiar?
In doing so it unleashed tremendous capital formation , venture capital that created the great companies that dominate the landscape today.
GDP rose to over 4% during that period
Inflation was crushed
Over 21 million jobs were created
Once again morning will come to America but not in the way you dream of.
It may be time for you to be a panelist debating Art Laffer on the Kudlow Report.
For that show I will not ask for anybody to give me or get me a ticket.
I will take my hard earned money and buy it.