Even to the casual observer, the financial condition of government budgets are under severe stress. Taxes have gone up consistently and have outpaced any meager adjustments in income for most taxpayers. No one can reasonably expect that municipal financing is assured by simply raising assessments and rates to keep their bloated bureaucracies solvent. Since the middle class has never recovered from the money centered meltdown, the average community struggles with diminished resources.
Celebrating Labor Day is poised for a fundamental transition. As the work force shrinks, the 21th Century version of the nature of employment is undergoing deep and primal changes. Some stats that are relevant point out that 62.8%: Labor Force Participation Has Hovered Near 37-Year-Low for 11 Months.
The paradox in the question of who wins in a currency war presupposes that any participating combatant can actually claim victory. If winning means ending up with the most cash, when the value of the money as a store of tangible wealth is debased, it is doubtful anyone can be declared the victor. The absurdity of lowering the purchasing power of a countries currency to enable exports to be more competitive is economic sacrilege that the heretical “Free Trade” mythos is based upon. Without a reliable standard of objective comparison, floating currencies maneuver their exchange rates to disguise internal imbalances in their own political and economic expenditures.
With the approval vote in the United Nation Security Council of the P5 + 1 Iranian agreement, a smorgasbord of eager trading partners claw themselves out of the woodwork. The liquid black gold rush is on. With the rescinding of sanctions put into motion, over time the wheels of commerce will be put back on track. No matter what the U.S. Congress does, the flood from international trade will start making deals with Iran.
The lethargic performance of the U.S. economy going back decades and plunging into an embedded depression, since the financial meltdown of 2007, has caused permanent damage. The business community and the financial press have yet to acknowledge that prospects are not going to improve. It does not take a commercial genius or an academic professor to look around at the shrinking middle class and conclude that the lessons of the preverbal business cycle no longer apply. In order for any economy to prosper, the fruits of commerce must improve the financial conditions of the producing contributors.
The quandary of the economic dilemma continues. A globe suffering from a deflationary financial impact, while consumer prices rise well above the reported cost of living increases, does not bode well that prospects of commercial growth can rescue the world economy. What changes can overcome this predicament? Well, some academic scholar’s offers serious concern that a long term rebound towards prosperity is no longer possible.
The working poor suffer disproportionately from the offshoring of high paying jobs. The upsurge an hour in the minimum wage economy is the net result of a consorted effort to lower the standard of living of not just the struggling impoverished but for all scrambling households. When the communist manifesto advocated a progressive income tax, the proletariat was supposed to get a sliver of social justice. Just how well did that hogwash turn out?
Remember the stagflation years? Maybe the current world economic environment is just in an enduring lethargy awaiting the bottom to fall out. Seldom has flat performance lingered as long as it has. Meaningful expansion, under a zero interest rate strategy has failed. Even much lower oil prices have not jump-started the engine of growth. Prospects for an upturn and a return to producing constructive activity still seem to be years away. Or is this a permanent outlook that baffles business executives and frustrates creative entrepreneurs. For the rest of us, waiting and hoping for a viable economy has become wishful thinking at best.
The announcement that Federal government’s tax-take hits all-time high as the federal government collected a record amount of taxes in fiscal year 2014, topping $3 trillion in revenue for the first time in its history, has the tax man taking a bigger bite than ever. Yet, the take that the collection bureau seems un-phased from all their scandals to put the taxpayer through their third degree audits are easing up. Why? The answer may surprise when the ledger is tallied up.
With the media account that Upstate NY towns explore seceding to Pennsylvania over taxes, hydrofracking, the stage is set for a clash of constitutional power politics.
The Global Warming establishment is NOT a business. All the tentacles that suck up public money to finance crony collectivism are based upon government subsidies and artificially higher consumer prices. The absurd lunacy that economic growth and productive jobs can be created with the underlying premise of the “so called” industrial model is based upon lies, deceit and cooked data; clearly demonstrates the disingenuous nature of the zealots that benefit from the fraud.