The number of Americans filing for
personal bankruptcy rose by nearly a third in 2009, a surge largely
driven by foreclosures and job losses.....Source: WSJ.com
I don't like being a party pooper, but they don't make economic recoveries like they used to.
You see back in the day, economic recoveries meant that more people were returning to work, buying houses, getting off food stamps, and avoiding bankruptcies. '
But now we are told economic recoveries have to trickle down. Maybe the trickle down will take several years, but they tell us to be patient. Eventually, we are promised, the trillions given away to the financial elite will someday find its way down to the people.
I guess we have to have trickle down recoveries since
we have trickle down economics. Trickle down economics, as you
certainly know, is the thing that saved this country in the 80s under
President Ronald Reagan. Ever since President Reagan saved America by
implementing trickle down economic theory, there has been a loss of
industry, a loss of the middle class, and a real loss in family incomes.
But let's not think trickle down is all about losses.
Trickle down economics has brought us a rise in destitute families, a rise in families on food stamps, a rise in the homeless, a rise in joblessness, and a rise in bail outs of financial firms.
So given that trickle down has given us all this. It is only natural that trickle down recoveries should also hold such promise. Trickle down recoveries have to take a long time to get to the people or else it wouldn't be considered trickle down.
Now some lefties argue that we could have taken those tens of trillions of dollars and used it to rebuild infrastructure, invest in green technology that would revolutionize the world's economy, implemented medicare for all, educated all of our citizens (young or old), and created a truly democratic economy that works for all of the people.
But if we found a way to directly use the trillions for the people then the rich financial elite wouldn't be able to employ us in a few years. In short, we wouldn't be able to realize the promise of trickle down recoveries.
The lefties say they are tired of trickle down and promises.
But we can't lose faith in trickle down economics or recoveries no matter how many people are out of work or hungry. We can't give up on the promise of trickle down because then we would be embracing socialism and everyone knows that socialism only works in those lefty Northern European Countries.
So our recovery is a fragile beautiful thing right now. It has been nurtured by the trillions of dollars given to bankers. We can't give up on the promise of this trickle down recovery, or we will not in several years reap the benefits of gaining some jobs and having less people going bankrupt.
Trickle down recoveries are indeed fragile. Yet if we continue to water them with hope and more trillions going straight into bankers pockets, then we can someday realize the promise of a trickle down recovery.
I think I am going to cry just thinking about it.