Botnst |
06-09-2005 09:18 PM |
Everybody who believes that a president, any president, affects the economy with his particular policy, raise your hand. You there in the back, wake up!
It isn't the president, it is what buyers, savers, and investors do that drives the economy. And also what happens in the energy market, one of the few places where a cartel actually controls pricing to some degree, at least negatively.
In controlled economies like the good old USSR, the head despot can control the economy, until that economy bumps into a free market. Then it gets its red corpuscles sucked out of it by the profit motive of millions of independent investors thinking for themselves.
Look at the present US economy. It is growing faster than most other industrialized countries despite having a huge national (and individual) debt load. If it were practically any other country on Earth, inflation would be hog-wild. The current system influencing the economy is all wrong, but the economy is growing lickety-split.
Psychology rules. People think the USA is good for the debt, so the USA IS good for the debt. To change that, all it would take would be for enough whining naysayers to get a big enough megaphone and shout, "The Emperor Has No Clothes!" Then the economy woul drop faster than a run-away coal elevator down a mineshaft.
However, if confidence (psychology) is strong, then we probably will get through this debt load, shrink the fed gov and maybe, pay-off our credit cards and mortgages.
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