The Federal Reserve chose once again not to raise interest rates. Drawing criticism from some camps, and praise from others, it appears as if the Federal Reserve is having difficulty grasping the economic situation.
Inflation serves as an albatross around the neck of the United States. The economic ship is being charted and steered towards an upward trend. The course is set to a level where poverty will be a fact for people who at once earned an adequate wage. Even more frightening, an image of the U.S. dollar losing it’s value. Imagine only billionaires having any real worth toward their money. The question that remains is how can the government make strides at helping the economy without having the right tools or know how?
Jobs have left the country. Some continue to leave the country, and should be stopped before it is too late. Others are in a twisted rut. Many of them are competitively low in wages. The big concern for the Fed is that a rate hike will naturally cause a recession. Yet might it be, in actuality, a retaliation from the people holding our economy hostage?
The facts are hard to grasp when the truth is skewed. If Janet Yellen, the Chairwoman of the Fed stood in front of a crowd and said “Look, America, this is what is really happening,” perhaps we could begin to make sense of the situation. Maybe that is why Yellen became ill last week, as it is a disgusting situation. Yellen’s heath is not a point of humor. The economy, on the other hand should probably suffer a few more jabs and hooks, before we as American’s feel comfortable talking about it.
Politicians have commented on the Fed’s response. Donald Trump said “from the countries standpoint, I’m not sure it’s a very good thing, because I really do believe we are creating a bubble.”[ref]Ylan Mui, “Donald Trump Just Had Some Pretty Interesting Things to Say about the Economy,” Washington Post, accessed September 28, 2015.[/ref] Bernie Sanders also commented, supporting the decision, by stating “It is now time for the Fed to act with the same sense of urgency to rebuild the disappearing middle class as it did bail out Wall Street banks seven years ago.”[ref]”Sanders Statement on Fed Leaving Interest Rates Unchanged,” Bernie Sanders Press Release, accessed September 28, 2015.[/ref]
Small business continues to be harked as the foundation of the American success.[ref] Bernie Becker, “Americans Prefer Small Business to Big,” TheHill, July 6, 2015, accessed September 28, 2015.[/ref] Corporations however continue to dominate the landscape. More importantly, successful thriving small businesses are somehow tied to big businesses. When push comes to shove, many take orders from big money.[ref]”Small Business/Large Business Relationships,” Inc.com, accessed September 28, 2015.[/ref] These are the same people who are hailed as our heroes on morning commercials – we have all seen it. Meanwhile, in reality, these are more “middlemen,” with a dash of con man selling cheap housewares from the trunk. Other Silicon Valley success stories may offer more positive news, but not completely. The nature of the industry creates jobs for geeks. Jobs do exist for other people: human resources, sales, marketing, publicity, janitors, secretaries, etc. Yet the majority of the jobs are for computer savvy people. Moreover, they lure talent away from other sectors. For example, an Engineering degree, or a Physical Science degree, might be tempted to join the Tech sector rather than conduct Research and Development (R&D). R&D jobs could lead to other jobs, capital, and innovation.
Generating economic growth is hard when the thief becomes the benefactor. The “owners” in fashion are propping the economy through a maze of self-aggrandizing which become driving force behind the economy. Meanwhile these are the same people that are contributing to global warming.
Polarization does not help the cause either. One side is nestling in its grassroots with difficulty getting anything off the ground. The other side is consistently pillaging and raping, symbolically, of course.
The question remains, how can the economic health and stability of the economy be restored? To begin, the government should not get involved in the economy by demanding transparency or intrusive investigations. Instead, it should make efforts to protect the truth. One possibility would be to pick journalists of integrity, that offer blind assistance as they investigate stories relating to corruption in the economy. Not to accuse people of being murderous thugs, but intimidation is the norm, and the reality when it comes to exposing efforts.
Second, laws should be passed to create an independent commission who will report their finding to congress on how the economy has gone astray and target areas of focus to seek common ground. This can allow for scholars, economists, and experts to once again speak the same language.
Take Action:
The Middle Class Action Project is a group that seeks to keep middle class citizens informed and offers ways to take action.
Mind the Gap is a group that focuses on the increasing difference between those of large wealth and the rest of the country which is widening.
