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Good Morning Middle America, welcome to the King of Simple News Network where we tell it like it is, in language that even MBAs can understand.

U.S. NEWS: Well we can all take a deep breath and a sigh of relief; everything is going to be alright. I admit that I was worried there for a minute. The news that China’s main U.S. outlet store, Wal-Mart, has posted strong earnings for the third quarter has raised the DOW industrial averages, the NASDAQ, the S&P 500 and the total wealth of the “The Beast’s of Bentonville,” better known as the “family Walton.”

Wal-Mart touts the source of this good news as having started to advertise Christmas at last years Super Bowl game and never taking down the decorations from 2006, lest we forget that Christmas is only 364 days away.

Now some of you have indicated that you are also concerned about the declining dollar. Well, don’t be. Wall Street has informed our sources that the weak dollar is a good thing. In fact, a very good thing. It has the effect of making U.S. exports much cheaper.

Using my patented Mikeronomics, I have come to the conclusion that America’s main export is that of Middle American jobs being exported to China. And, I have no doubt that government and Big Business will in fact pick up the pace in that important sector of exports.

The good news didn’t stop there. Both Fred Thompson and Hillary Clinton have announced that they now realize there is a problem with social security; a little known piece of information prior to 1946. Both have promised to work diligently on “saving Social Security” until such time that they are confident of being elected president; after which they vow to drop the subject all together.

Our King of Simple News reporter asked the candidates why Social Security was their main issue, when Social Security funding was projected to last until 2041, and Medicare is set to go bust in 2019?” Mr. Thompson said, “Son, there are just some things that we shouldn’t talk about.” Mrs. Clinton responded, “Social Security is my first priority, once I tax you enough to fix that, you’ll be so busy paying taxes, you won’t have time to be sick. Ha-ha.”

The fact is that planning for the future over the past 60 years hasn’t been a high priority. Social Security and Medicare alone will require taxation beyond the ability of Americans to fund. But, what the heck, let the kids pay it.

Our National Debt is approaching $9 Trillion, nearly a 1000% increase since 1980. That’s the good news; the bad news is that the total of unfunded debt owed by our illustrious federal government (Medicare, Social Security, military pensions, etc.) is more than $50 Trillion. I remind you that a Trillion seconds in time, is. . . 32,000 years. That’s a lot of dollars.

We live four years at a time. How many times have you heard someone say, “The government won’t let that happen in election year.” Think about that. What we are actually saying is, regardless of the damage, wrong doing, ill conceived practices, lying, cheating and what ever else it takes to make our economy look different than it really is; that is the course that government will take. AND WE ACCEPT IT AND RE-ELECT THEM.

The problems with any pyramid scheme such as Social Security been known for 40 years. And now, two of the presidential hopefuls make it a campaign promise to fix it?

And you believe them?

Wake up Middle America, it’s your job that is being exported.

 

www.kingofsimple.com

Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)
 
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Please stop giving cred to the false righty story ... by JimZ on Wednesday, Nov 14, 2007 at 7:42:41 PM
Sir, You are one very angry man armed with informa... by Mike Folkerth on Wednesday, Nov 14, 2007 at 8:02:59 PM
Privatize, allow people to create their own retire... by Mad Jayhawk on Wednesday, Nov 14, 2007 at 8:57:53 PM
Mad Jayhawk,Excellent point. Do something radical ... by Mike Folkerth on Thursday, Nov 15, 2007 at 7:03:05 AM
Mad Jayhawk,Excellent point. Do something radical ... by Mike Folkerth on Thursday, Nov 15, 2007 at 7:05:40 AM