"Big Bottom, Big Bottom
Talk about Mud flaps
My girl's got em."
— Spinal Tap
A recent headline in our own newspaper stated the economy was "on mend," and although it is "a wide, long bottom" and will probably take a while before it becomes "robust" once more, things are beginning to look up.
OK, that sounds pretty hopeful. And though the speaker was focusing more on the Tucson economy, and our Northwest area in particular, Marshall Vest, an economist from the University of Arizona, stated emphatically "we are in the beginnings of a recovery."
The thing about long, wide or, as I like to call them, "big bottoms," is they are not always flat or in an upward grade. You can often be caught in a downward, curvy nightmare, and more times than not, behind an obscenely large semi with big mud flaps. You can't really see anything ahead of you.
Fact is you can't really see what may be coming towards you from the other direction. Perhaps a good case of deflation, overbearing regulations or a regime filled with hacks either ignorant about a free market or actually hostile to its very existence.
We have the Fed headed by a college professor whose post graduate studies focused on an in-depth study of the Great Depression era. Sounds like a good resume unless what we are going through now is actually much bigger and frightfully different than what we went through 80 years ago.
Even though the stock market crash of 1929 and the ensuing credit crunch that followed is eerily similar, in the 1930s the United States was still a creditor nation with huge reserves and a people who still believed in thrift and savings. Not to minimize the suffering which took place back then, if it gets even closely as weird as it was in the 1930s, the reaction from the current crop of Americans will probably produce a much uglier scene.
Our current president has zero business experience outside of having been a community organizer with a unique ability at writing grants to suck up taxpayer funds for Chicago causes. Did he even deliver pizzas as a college student or work in a tortilla factory? (I did.) He has surrounded himself with like-minded people and even former radicals of the 1960s who have a world view contrary to deep-seated American beliefs and values. The current party in power is a shell of its former self and should probably drop the facade of American ideals and rename itself after its European cousin, Social Democrats.
And for you who proudly march as "tax and spend" liberals, please start being honest with yourselves and many of us who are now just "getting by," and just say it from the top of the rooftops, you are for the "redistribution" of wealth and believe it is within the right of government to carry out such an endeavor. You may think me a hack for the Republicans (not!) but guess what, I was once like you, thinking money could be taxed out of the rich and distributed to the poor. Socialism was my answer to every problem around the world; yeah, right.
Truth is, America was not founded on Marxist principals, but something much deeper, personal responsibility and the right to succeed or fail. What was the end result, a country once having the largest and most robust middle class in the world, dynamic schools, innovative ideals and more than can possibly be listed.
Those mud flaps are blocking out far too much right now. The American public really has to do their own homework if they want to get past the noise from the likes of MSNBC's "The Ed Show" or the "HuffPo," on the Internet. Based on the government's own formula for measuring unemployment prior to 1994, actual numbers are just below 22 percent. These are Depression-level numbers, folks, not simply a really bad recession hangover. Remember that nearly a trillion dollars was pumped into the economy in 2009 to save jobs and stave off a depression. Why is the money supply actually shrinking right now? With nearly three trillion dollars thrown at our economic hiccup since 2008, and the best we can say is were at a wide, long bottom?
The 20 percent of Americans who believe our economic system is too damaged and should end up on the dustbin of history are the ones now in power. They want more government in every aspect of our lives, even if they have to "pole vault "it they aim to make it permanent. Which means, at best, we better get used to this wide, long, and tragically "big bottom" American economy.