We Are Between A Rock And A Hard Place

Greg Goodwin

What am I talking about? Privatization or government.

I have always been a strong advocate of the private sector doing the job of the government, where it can be done with cost effectiveness and organization. But my attitude is changing and now it is becoming apparent that neither can do the job for We the People.

The government has become so bloated and self serving, the American people are just a revenue stream for them. Corporations have gained so much influence that Washington responds to them before the American people which in turn the American people become the revenue stream for them too. In either case the costs to the American people are not voluntary as a free market or smaller government would. (Shipping jobs outside the country, Inflation, Taxation, and Government intrusion into the free enterprise system).

We have seen the government steadily move into the free market and demand direction for certain parts of the economy, which is outside their normal Constitutional responsibilities. We have seen corporations lobby the government for their own self serving interests. Where is our representation? There is very little anymore. Money talks and our freedoms walk.

While we argue over government and capitalism, both sides are destroying the middle class of not only our country but most developed nations around the world. Why? Because the combination of both entities serving their interests and not the people who are paying for all it. As WE have paid for the bailing out of the world’s banks who lobbied for this economic environment, the government burdening our future with ever rising debt, where is OUR representation? These entities live in a self serving vacuum, with little regards to we who are paying for all of it. 

It is time for significant changes in both. It’s obvious that the Keynesian approach to the economic system isn’t working because too much government influence has caused our economy to be directed by government and they only burden the economic system with their economic mandates. The Laissez-faire capitalism or Austrian School of Economics doesn’t work either as exampled by the collapse of the banking system, which was regulated by the Glass-Steagall Act until 1999 when the Gramm-Leach-Bliley Act removed the safeguards for people’s economic stability, by allowing the speculative investment aspects of the banking industry. Remember, the Glass-Steagall Act was put into place in 1935 to regulate the speculation of the banking industry because that was what caused the Great Depression. It only took from 1999 to 2008 for the banking industry to destroy the economy AGAIN!!!! There must be a balance of the two and not one way or the other.

I saw corporatism with government support really kick into gear in the 1980s when acquisition fever took over industry and it was like sharks in a feeding frenzy. This was able to happen because also in the 1980s, the flood gates were opened to the lobbying efforts and they called it Political Action Committees or better known as PACS. This was the beginning of large amounts of monetary influence in our government to influence legislation for self serving interests.

The economic powers, along with the government, are destroying the very foundations which made this nation the most powerful economy in world history. The acquisition frenzy was just the beginning followed by and continuing today, with the debasing of our industrial base which is the reason for our past economic strength and this was all accomplished for short term economic gains, with very little regard to the future economic strength of the nation or the collateral damage which would be incurred. (I remember corporate MBAs telling me we have to make this money while we can. How’s that working for theUSA now?) The result is now we are facing the reduction of the American dreams and prosperity because of this self serving mentality.

Finally, I would just like to sarcastically thank all of you corporate MBAs, national bankers, Wall Street, and of course the Government for destroying the economic system we once knew which supported the greatest economy in world history. I hope you all sleep well at night knowing you have destroyed many American’s dreams. Your combined efforts have put us where we are today, when all we did is trust you to work for the nation’s prosperity. Damn it, we were so wrong!!!