Posts Tagged ‘employment’
Economists have fascinated me for decades, so much so that I actually when to school for a degree in economics. After years of bogus economic theory after bogus economic theory, I was still in the game. That’s until I predicted that a steady increase in the cost of energy would send the US Economy into an unprecedented type of economic turmoil. I called it Energy Based Inflation in my paper, and subsequently received my first B on a term paper in college.
I even came up with a solution to Energy Based Inflation. Yet, to date, I still see economists following the same failed economic concepts being taught while I was going to school.
Yahoo published an Associated Press article about recent slashing of jobs. The article indicated that a growing number of economists were starting to believe that we were in a recession.
Here is a bit of news to economists: We’ve been in a recession since at least 4th quarter of 2007. The collapse of the financial market is due to the fact that we financed the recession via our properties, equity, and homes. The Federal Reserve resisted the idea of being in a recession during 2007, and took no action to curb the debt spending taking place. By the 4th quarter, there was no longer any equity in our property and the market began collapsing.
At this point, there is very little that the Fed or the Whitehouse can do to turn this situation around quickly. Prices on homes have plunged so much that it has exacerbated the debt situation. Lowering interest rates won’t provide an immediate relief because the prices are too low. It will act more as a tourniquet against the virtual free fall of property value.
If we can fix our economic education system, we can fix the problem long-term. Until we stop teaching the antiquated and failed economic theory of the last 30 years, we’ll repeat the same mistakes.
Anyone who says the Bush stimulus package of a $600 tax rebate is not going to stimulate the US Economy hasn’t been watching The Big Idea with Donny Deutsch. I’ve seen more millionaires made from $600 or less on that show than I ever thought was possible. The moral of the story: Your wealth is what you make of it.
Every time I watch that show, I’m completely inspired. Regular people making it big because they had a dream that they pursued. My favorite episode was a few days ago. I can’t remember the guy’s name, but there was a venture capitalist on the show who said that the “side job” never becomes the next million dollar idea. Got me thinking about how many “side jobs” I’ve had over the years. None of them took off. Watching the show, I see nearly all of the stories have something in come: they quit their job went after the dream.
What dream is worth dreaming but not pursuing? Time to take the plunge. Grab that $600 tax rebate and do something with it!