THE DEATH OF COMMON SENSE

11/24/2010

THE DEATH OF COMMON SENSE

 You can look up the "wiki"  definition of the phrase right here,  or more simply put COMMON SENSE can be understood as a construct stating that, " The anticipation of the known result from an act or omission, based upon prior knowledge and or experience". 

Just so, here is an article on CNN about the current economy, the income inequality and housing bubble, and  then my comments below,

The idea of an expanding economy based on borrowed money and consumption is what has failed here. We need to increase production ( added value) based economy and depend less on service and consumer.

 First off, we must face the fact that no matter what kind of economy, there are just too many people around thus the cost of labor ( income of the worker, wages)  are kept low, the machines/ computers are replacing humans in more and more jobs everyday keeping a downward pressure on the workers pay.

Tax system is geared now to make the rich richer, as everyone knows the rich spend less and less of their marginal incomes. Taxes on cash, bonds and stocks must be raised to force the companies and individuals to invest. Also the higher taxes should be used to offset the burden of increased interest payments of the government on its own debt.

First it was the chiefs of the FBI, the CIA, The NSA et al, who did not know what was happening. Then it was  Bush(W), Greenspan, Paulson, Bernanke who were not aware that the SH** was rolling down hill, and it was the bosses at the GM, The Ford and Chrysler, the AIG the Citi, the Wells Fargo, The Fannie and the Freddie and Countrywide who did not know what was going on either. Where did the money go? who has the money that we lost, let's tax the *rap out of the bastards who took it and got rich, and jail the ones who were paid to know what was happening and did not or turned a blind eye while the country went broke, only then we can start to fix the mess.

LIFE IS A GAME OF CONNECT THE DOTS, IF YOU DON'T CONNECT ALL THE DOTS OR DON'T CONNECT THEM IN THE RIGHT ORDER YOU NEVER GET THE PICTURE