A lot of analysts claim that there is nothing wrong with the economy, but the sweat rolling off their brow belies that claim. The Feds say there is no recession. Only a slowdown. Things will pick up, soon. And the everything will be all right again. Maybe. They hope. They pray. They lie.
At one time, Maine had an undeserved reputation of being a leader, but that was from the 1800’s, when people had a different outlook on life. Back in the day when hard labor was common, and opportunity ruled the marketplace. After the 19th century turned into the 20th century, industrial progress spread its wings and other countries began to grow in leaps and bounds, just as we had, mostly in Europe. And along came FDR’s follies and the great depression.
Now that the 20th century has turned into the 21st century, we are finding that history does indeed continue to repeat itself. But in different ways. Sort of. A New York Times article today relates how Ben Bernanke avoided the term recession in his biennial report to the legislature on the economic picture of the United States. Of course, he had to dance around the unprecedented increases in the energy costs we face, the failure of the subprime lending market, Fannie Mae and Freddie Macs lending woes, and runs on some of the nation’s banking institutions. Sounds like the beginnings of the great depression to me, how about you?
In a similar article from the Houston Chronicle, says that the Labor Department said wholesale inflation, driven by skyrocketing gas and food costs, rose by 9.2 percent for the 12 months ending in June. The Washington Post followed along in an article with the same take on the issue, further exploring the affect the US economy has on the rest of the world’s economies. I’m putting my money on the guess that it’s going to get a lot worse before it gets better. And I believe it will get a lot worse, for a longer period of time, if Obama gets elected in the Fall.
As I see it, there are two concurring problems exacerbating a Liberal driven trend to change the leadership of this country, and move in a direction that is overall detrimental to the freedom of the worlds populations. Socialism is an expensive form of government, and it tends to repress productivity and growth of an economy due to the burdensome tax programs needed to finance the Socialist governments programs of entitlement and subsidy.
But here in Maine, unemployment is rising, the cost of living is rising, and many paychecks are dwindling as a result, further worsening the picture. Is there a solution? Not really, but Baldacci is trying to further boost the opportunity to build upon programs that are destined to doom the state into a bankrupt status. We need to begin dismantling the states subsidized living structure and reduce taxes and regulations that are not needed to stimulate the manufacturing sector. That’s the only way we are going to be able to return to a position the state once held as being a leader.