Yes, the economy stinks Why? Many of the reasons are obvious. You don't have to be an economist to figure it out.
The housing market is in the tank. Jobs are being shipped overseas. People are nervous about what the government will do. There are those who want the government to just get out of the way and let private enterprise fix everything. Oh, yeah. Wasn't it private enterprise that invented the derivatives and the credit default swaps that allowed greed to run rampant on Wall Street? Isn't it private enterprise that is shipping jobs to China, India and Brazil?
The same Wall Street firms that caused the economic mess are now saying the recovery is being held back by too much regulation. Fact is, regulation reform hasn't even gone into effect yet.
We are in an entirely different economic landscape, yet banks continue to foreclose on properties they don't want and can't manage. CEOs are grabbing all the cash they can find on the table. Do they have your interests in mind? Wall Street money has bought our legislature.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
No wonder thousands of people are taking to the streets in protest. They get it now.
Speaking of taxes, there are those who repeat the phrase, "tax the rich." The only thing you can tax is wealth. If you have it, you get taxed, and if you don't have it, you don't. What could be more fair than that?
Hilton Head Island