Setting the Record Straight

July 4, 2008

The ‘Little People’ Say: Stagflation

Time for Trickle Up Economics

         The Great Depression began during the administration of Herbert Hoover, a Republican president who threw up his hands and declared there was nothing the federal government could do to stop it, that it had to just run its course. As we know, his successor proved otherwise.
         It is no accident that Hoover was just one of a long string of GOP presidents (up
to and including the current one) who believed in the “trickle-down” theory of economics. Essentially, it means that if you give big tax breaks to the rich and big business, those benefits will trickle down the economic ladder, eventually reaching and benefiting the little people.
         We suggest that in the current economic situation, the government begin paying attention to what we call the “trickle up” theory. We intend that term to mean the economists, government officials, stock market analysts, etc., need to begin listening to those “little people.”
          More than a month ago, we said inflation and recession, the twin evils of “stagflation” had already arrived. Today, stock analysts, govern- ment and business economists and others are still arguing about whether there is inflation and whether the formal definition of the term means a recession has arrived yet.
          We could say a month ago that stagflation had begun because we live among the “little people.” The “little people” know their fuel costs are rising at the same time their food costs are rising. Those two expenses may represent discretionary spending to the rich, but they are not discretionary to the LP.
          The LP know that jobs are less secure during the current economic situation and they most certainly that even if they are able to keep their jobs, they are not going to receive a raise or added benefits. They see unemployed friends and relatives unable to acquire a decently paying job, much less one providing the health and other benefits they also need.
          The government, Wall Street and others need to stop trying to decide whether two consecutive quarters of no growth and other convoluted definitions are met and begin listening to the “little people.” They know what Franklin Delano Roosevelt knew.
(from www.straightrecord.com)      

===============<>===============

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: