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Family and Friends is my everyday journal. Captain's Log is where I pontificate on religion and politics.

Sunday, October 16, 2011

Economic Anorexia

There's nothing more horrifying than watching someone struggling with anorexia. They're purposely starving themselves to death all the while deluding themselves that they're getting more and more beautiful. Isn't that what the fresh water economists are doing here and in Europe. Cutting taxes, cutting spending starving the economies and deluding themselves while millions of people are losing jobs, homes, cutting education, adult children unable to establish independence after graduation, underemployed dying without health insurance etc. and the economic experts look at the economic starvation all around them and delude themselves that this is beautiful.
Just as a human body needs food to maintain all aspects of the body so does an economy need money to feed all those living in the system. Governemt spending is that food. It's needed now.

4 comments:

Michael Manning said...

P M: There remains so much we haven't done. Waste alone, whether bureaucratic or relative to discarded materials is a shame. Restaurants throw out more food in this country every night that could help feed the hungry. War is of course expensive. I see progress here and there. But I can't help but feel that our infrastructure--bridges and power grids need to be replaced and updated. How to accomplish this without getting ourselves deeper into debt is always a challenge.

P M Prescott said...

Michael sometimes you don't worry about the debt and do what you need to do anyway. Rebuilding the infastruscture puts people to work and their salaries puts other people to work and the taxes created from those salaries cut into the debt.

Michael Manning said...

P M: I have learned something new here. The Brent Spence Bridge in Ohio is one such example. Built in 1965, it was designed to handle 50,000 cars a day. Today it handles 300,000. We are asking for trouble with outdated bridges like this one and there are 13,000 such spans that require replacement. Another obvious example is the electronic grid in New York. Thanks for the heads-up, P M, and also your kind visit!

P M Prescott said...

Da Nada, Michael.