Ah, let’s begin by discussing this disasterous economy in the wake of the housing crisis.
Why did we have a mortgage crisis? Because we had a “housing boom” caused by loose credit. But why was credit loose, bundled and sold upstream with nothing to back it except the over-priced houses of a bubble market Because every banker has to invest in something to make money off of your money. It’s reminiscent of the oil bust of the 80’s.
As a nation, we needed SOMETHING to manufacture in America that couldn’t be imported more cheaply from overseas – and that was houses. Thanks to our environmental policies, our pesky desire for more than a bare existence standard of living, and our blind eye to the unfair trade policies of other countries, we had little else to actually build, to make and sell. So Republicans cried foul over the threat to cut off the housing industry’s source of cheap labor (hint: they came from Mexico), and everyone touted the housing boom as a sign of prosperity rather than a scheme run up on one huge-a$$ unsecured pay-day loan from the Chinese.
So high-up muck-a-mucks of both parties pumped sunshine into the bubble and made as much dough as they could, and bundled the debt and had AIG stamp it with their meaningless insurance guarantee, knowing that eventually you and me, the good ol’ too polite to complain taxpayers, would eventually have to suck it up and foot the bill.
Now the housing bubble has burst and guess what? The manufacturing sector is in the pits, the USA is running up trillions of dollars of debt, and only a few brave conservatives are actually offering solutions for how to revive America’s ability to manufacture – that is, add work to raw materials to create things of value the rest of the world might actually buy. You know – create jobs?
As of today, if laid-off workers who have settled for part-time work or have given up looking for new jobs are included, the unemployment rate rose to 17 percent, the highest on records dating from 1994.
So what to do?
Here are my suggestions:
Ditch the “green economy” and unleash America’s native energy sources. Burn coal, fire up plants, toss aside overpaid union labor, and MAKE THINGS.
Get out of NAFTA, CAFTA, WTO – it’s every country for itself.
Dramatically lower taxes on businesses big AND small.
Don’t import from slave labor countries who pollute to the high heavens and send political dissidents to the firing squads.
Repeal the “stimulus”
Give every American shares of stock for every dollar uncle santa has doled out to a bank, company, etc. WE should own those companies, not “czars.”
Redirect scholarships to the smartest, not the neediest, and to the engineers.
Export illegals en masse.
Get rid of 2/3 of all our darned regulatory rules and agencies and let ingenuity thrive.
Ease patent aplication requirements and get the heck out of the way of folks who can build a better mouse trap.
Cut trial lawyers down to stubble – shrink the culture of “sue sue sue”
limit congress to three months every two year and impose term limits
close the door from representative to lobbyist
school vouchers = competitive education = smarter kids with less indoctrination
FIGHT LIKE THERE’S NO TOMORROW TO REBUILD OUR MANUFACTURING INFRASTRUCTURE
Ross was prophetic about the “giant sucking sound”.