Elections, And Why The American Economy Will Collapse

I know what you’re thinking: man that Pete is a positive guy. I like to describe myself as realistic, with a bit of fatalism throw in. Either way, I find it hard to look at the economic landscape and have any hope. It is especially dreadful when politicians have to get re-
elected, AND said politicians consult certain “economists”.

Economists have for years looked at what is happening in a society and sought to come up with solutions as to how an economic crisis can be “fixed”. The problem is, like in all fields, you have good economists, and you have the not so good (The latter seem to be the ones that always find their way onto the public payroll).

In extremely broad terms economists can be split into two categories:

1. The “good” economist traces what a policy can do not only in the present, but 
in the future; AND what it does for not only one segment of society, 
but the whole.

2. The “bad” economist does the exact opposite; they examine only what 
will fix the present issue and usually concentrate on only one segment of 
the population.

If you are a student of American history your eyes should be opening as to which economist is most often chosen by our elected officials. The real question is “why”?

Well, why wouldn’t a politician pick economist #2?

The politician is not thinking about what the voter’s life is going to be like 10 years from now when he has an election coming up in just ten short months. In the midst of the “worst economic crisis since the Great Depression” the politician is looking for quick solutions and economist #2 is just the man for the job. Do you really think the politician cares if your child owes the government $300,000 on their eighteenth birthday. “I come up for re-election in November!”

And think of the freshmen senators and congressmen; they haven’t even gotten their feet wet and they’re being thrown to the wolves. Not to mention that if they don’t get re-elected they won’t qualify for the fattest part of that public pension.

This is all the nature of politics and it is dreaded by most. BUT, the part that should infuriate every citizen is that these “economic fixes” are always targeted at one voting block to the detriment of the others.

Was I the only person that became physically ill upon hearing the term “Main Street” as it was used over and over in 2008? Politicians even defined who “Main Street” was: people making under $250,000 a year. Rarely was it discussed that the bracket just above that contains the “small businesses” (Another term I want to go away) that are responsible for 70-80% of the jobs in the USA. Yes, those are the people we need to punish (10% unemployment anyone?).

Politicians must rely on short term goals to have any hope of getting re-elected. Really? Isn’t that assuming that the public cares nothing of the long term consequences? Once again our politicians insult our intelligence and don’t trust us to understand how long term planning will benefit us. How about just telling us the brutal truth? We might appreciate the honesty. We may want to know what our kids’ futures are going to look like.

But no. We are subjected to the planning of economist #2 who intends to spend as much of our money as he can creating “roads to nowhere” that employ people right up until the job is finished.

I had always wondered why it was that these “experts”, these “intellectuals, were so attracted to government. Then I found this quote by Murray Rothbard and my question was forever answered:

“It is evident that the State needs the intellectuals: it is not so evident why intellectuals need the State. Put simply we may state the the intellectual’s livelihood in the free market is never too secure; for the intellectual must depend on the values and choices of the masses of his fellow men, and it is precisely characteristic of the masses that they are generally uninterested in intellectual matters. The State, on the other hand, is willing to offer the intellectuals a secure and permanent berth in the State apparatus; and thus a secure income and the panoply of prestige. For the intellectuals will be handsomely rewarded for the important function they perform for the State rulers, of which group they now become a part.”

Very well put!

When you consider that the politician’s main focus is to get re-elected is it really in our best interest to have these people anywhere near the economy? Is their loyalty to our future, or to the next election?


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