The geniuses at the Daily Ticker ask the question:
The article below the video gives us this gem:
While it may be hard to gauge whether the bad news is truly bad and, if so, to what extent, we’ve also seen indications of increasing economic strength.
Yes, we’ve seen indications of increasing economic strength…from people who have an incentive to lie about the economy.
Heidi Moore knows what is really going on:
So are we seeing a true economic recovery? Heidi Moore, U.S. finance and economics editor at The Guardian, tells us in the accompanying video that “what we’ve had is a recovery that’s been really rocky… it’s been incredibly slow and not beneficial to huge swaths of the American population.”
Moore says while GDP has improved, unemployment is still a major issue with a lot of people dropping out of the work force. Moore also points to the housing market, noting that rising home prices doesn’t mean a recovery.
To call this a recovery is “offensive to a lot of people who are struggling and even living in poverty right now, when we should be addressing those problems,” she argues.
So what about the solutions? President Obama in his State of the Union address talked about asking CEOs to hire the long-term unemployed.
Oh, Good Lord. Look, those people are unemployed because those CEOs fired them!!! They aren’t going to hire them back just because Mr. Obama says “Pretty please?!?”
Here’s how to help the economy recover:
1. Cut taxes. The average American is paying out over 50% of their income just for taxes.
2. Reduce regulations. The EPA and other federal government bodies are strangling businesses with bureaucratic red tape. In fact, government regulations have made you 75% poorer. Regulations require people to waste time filling out forms that will be filed in an office and never seen again.
3. Repeal the Patient Protection and Affordable Care Act. This abomination of legislation has already caused job losses and increases in the costs of insurance for all sectors of the economy. Repeal the whole damn thing. And don’t go and replace it with carbon-copy crap like P-CARE.
4. Force the Fed to end their Quantitative Easing and Zero Interest Rate Policy. These two policies are completely screwing up the economy. The Fed is propping up government spending and the housing market with their purchases of government securities and mortgage-backed securities. Even the ‘tapering’ from $85 billion in purchases per month to $65 billion in purchases per month won’t help, as the Fed has expanded its balance sheet from less than $900 billion to over $4 trillion since 2008-9. That’s a lot of potential inflation right there.
And ZIRP is yet another reason why your insurance costs are increasing. It used to be that the insurance companies would take all of the premiums that they collected and invest them. They would then use the proceeds from these investments to pay off any claims and to produce profits.
Those days are long gone. The proceeds from investments are less than 1%. The insurance companies have to cover claims somehow, so they are raising premiums. And if you have investments, you are making about the same return. Even with the CPI rising by less than 2% last year, you are losing purchasing power.
Most of the problems in our economy today are being caused by government. In order to fix things, government has only to step out of the way…