Holding On for Dear Life

Take a good look at the cover of this week’s Time Magazine.

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Posted in * Economics, Politics, Economy, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

8 comments on “Holding On for Dear Life

  1. Bart Hall (Kansas, USA) says:

    Interesting how certain people continue to push the meme of economic tragedy. Things are tetchy in the world inhabited by the self-appointed elite, because that’s where it went completely nutso in a world of massive government money.

    They continue fairly solid, however, in the world of real people who have always put in an honest week’s work, or scrambled to make payroll, or depended on having a product other folks would actually pay for.

    As a simple comment, back in the ’30s — and we’re a very long ways away from there despite the demagoguery of certain politicians — 75% of the people still had jobs, the DC-3 was built and changed aviation, sales of ice cream doubled, and America produced some of its very best movies, ever.

    We are [i]not[/i] hanging by a thread. We’re Americans. We’ll figure it out as long as the government in the course of “helping” doesn’t strangle what our nation’s enterprise is all about. Unfortunately, a lot of people want us to [i]think[/i] we’re hanging on by a thread and the only thing that can save us is more government.

    If you put [i]that[/i] on the compost pile it’ll grow some great veggies and you’ll not become one more of the avoidably dependent folks selling their birthright for a bowl of lentil porridge.

  2. Fr. Dale says:

    Good old “The sky is Falling” Time Magazine. I have subscribed to Time from time to time and finally given up. I especially dislike their stories about Jesus.

  3. John Wilkins says:

    Bart seems to have the “could have been worse” view of the great depression. He doesn’t remember that patents declined during the 1930’s or the great battles between corporations and the unions at that time. Although I admire his memory of the garden of Eden, I suspect the world was a bit more difficult than he imagines.

    But there is one general principle that may or may not be right: the particular leads to the universal. There are plenty of Americans who are living by a thread. They got sick, they lost their job, or for whatever reason finding things harder. Unlike the perfect ones, they have made a bad decision, and their entire family will find their lives changed: children will not go to colllege; they may drop out of high school to help support the family; they will bear the brunt of despair and frustration introduced into a family now facing a loss of their dreams.

    Just as the government paid for the railroads; the canals; invested in NASA, elementary schools, high schools, land grant universities; roads; cops; fireman; sewage systems.

    There’s no such thing as a free lunch. Government protects the infrastructure that makes commerce possible. And the government’s money is as good as anybody else’s.

  4. Grandmother says:

    “government’s money”…….. And the “government” does what to make a living? I guess we’d better not talk about how the governement gets any money they do, never of course at the point of a gun.

    Grandmother in SC

  5. evan miller says:

    John,
    When did the government pay for the railroads?

  6. Philip Snyder says:

    John,
    The “Government” has two ways of getting money. The first is by taxes (or fees) – money coerced from the people. The second is by printing it – and making everyone else’s money (and the government’s) worth less and less until it is worthless.

    Government has invested in worthwile things in the past. However, today the Government is more interested in “transfer payments” rather than investing. They take from one group (the producers) and give to another group (the elderly (Social Security), the poor (Welfare – entitlements), special projects from lobbyists (pork spending), etc.).

    The point is not that the past was better or that the Great Depression was not bad. The “good” past was not as good as we remember, nor was the “bad” past (or present) as bad as we think. One of the problems with the media (and government) is that bad news sells. They like to talk about the worst (a) since (b) (fill in the blanks). That sells newspapers and it sells government programs. Everything is a crisis today. America may be the only country where the “poor” have cable TV to tell them how poor they are or where a large group of the “poor” own their own homes and have multiple cars. Does that mean that being poor (by US standards) is not a bad thing? Absolutley not. But it does mean that it is not the worst thing either.

    Is the economy in bad shape? Yes. Is it in “crisis” shape? I rather doubt it. Are we (as a people, not as individuals) hanging on by a thread? Absolutely not!

    YBIC,
    Phil Snyder

  7. Philip Snyder says:

    Evan Miller,
    The government may not have “paid” for the railroads, but it did grant easements and provide land for them. It certainly did help with the development of the rail system. Government did, by the way, create the Interstate Highway system that allows goods (and people) to flow at low cost between cities and states.

    The government has its uses and can do good things. The problem is that too many people try to generalize that since government can do good and has done good, then almost everything the government does is good.

    YBIC,
    Phil Snyder

  8. John Wilkins says:

    The government subsidized the railroads for a good part of the 19th century. See the Pacific Railway Act, for example.

    #4 – as an American, I’m proud to pay taxes. It’s a harder sacrifice than pledging allegiance to the flag.

    Grandmother: the government pays for cops rather that having a “protection” service shake you down. They ensure that your drinking supply is clean (when its funded) and regulate companies who would just pour their trash into our lakes and rivers. I can’t just put an old oil tank on public grounds near your house, probably because there is a law about toxic waste.

    Judges negotiate claims between businesses. They ensure that business people play by the rules. Also the government buys things from private contractors who build roads, sewage systems. There is an infrastructure that protects your liberty and commerce, grandma. If you don’t pay for it, its might makes right.