It's over. Those ads are gone. TV and Radio have returned to the new normal. I have watched the news to see what people think about the election and economy. Some of what I see is embarrassing. Others things are crazy. Maybe I just see the whole thing wrong.
It seems to me that we are in the middle of the first World Economic War. The old Twentieth Century rules about countries are gone. Armies have been made irrelevant. Everything depends on growth vs. debt. China, Brazil, and India seem to be winning. Europe and America are struggling to hold on. Japan, Greece, Spain, and Ireland are in very big trouble. Survival depends on our ability to reduce government costs and create real economic growth without inflation. Where is Milton Friedman when we really need him? He passed away in 2006.
Some of the idiots on TV think the election was about DEMOCRATS. Others think it was all about REPUBLICANS. I think their crazy. The real issue is who among use is smart enough to lead our country out of this economic mess. Britain seems to have made the "right" choice by going with a coalition government. We will have something similar with the new Congress in January. One thing is sure. The old rules won't work. We need to cut government cost soon and focus on entrepreneurial job creation. It really doesn't matter which party the career politicians support. The work that needs to be done is economic not political. A quick view of the CATO Institute web site will show you the plan. Do we need NASA?
They say that in 1941 most Americans did not know where Japan was located. After 9/11 we learned more than we wanted to know about Iraq. Now I think the country is getting ready for a class in Economics 401, Keynesian versus Free Market Economics. The next two years will be important. Our Economic future depends on how well we understand these issues.
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