Tuesday, January 5, 2016
TUESDAY JAN. 5
No, I did not go to the Council meeting and I could only comment on 2nd hand information that there was friction among the gang of four and sour grapes helped elect a voice of reason although too often in the minority as Council President. I am sure that this year will run smoothly. Congratulations Corey, a well deserved honor.
The first working day of 2016 did start off by getting out of its bed on the wrong side with a 20+ degree drop in the weather. Then the stock market opened with over a 300 point loss and closed down 260 points. The experts claim this was due to worry about a collapse of China’s artificial economy because of work slowdowns.
Those here who will be hurt are retirees on fixed income and workers whose jobs become endangere4d due to plant closures. Excessive debt is always a dangerous position; one which our politicians seem 0to ignore.
Although there seems to have been a recovery from the 2008 financial collapse it has been in the most part artificial with many good jobs been exported overseas, and corporations locating their home office in foreign countries to cut their tax liabilities.
We too have been under a false boom with artificial zero prime interest rate. Our increase in economic dollar figures and values has been by inflation which has decreased the “work cost” value of the dollar resulting in higher costs. This is continued by mandatory increases in minimal wage levels, mandatory benefits programs including health insurance.
The collapse in the fuel energy boom can become the catalyst for another major economic downturn. Lots of jobs are at risk if fossil fuels are restricted to be replaced by more expensive a not as efficient green sources. Be3tter yet if efforts had been made to make the use of coal, gas and oil less polluting plus safer nuclear plants.
Stimulus has been an overall failure where corporations have received money and not applied it to increase productivity and jobs. Our infrastructure is failing and becoming too costly to repair. An example is the Hudson River tunnels. Roads and bridges could have been productively replaced by the WPA and PWA programs that helped combat the great depression, but the politicians and lobbyists saw a great opportunity to benefit a few.
Meanwhile the Arab east is reaching to a climatic conflict between Iran and its puppets with Saudi Arabia. This is both one of power and religious orientation. The impact will be on all of us.