Sunday, September 1, 2013

Just How Rich is the United States

We here a lot of talk about how poor America has become. Members of Congress are always talking about what we cannot afford to do. It might give someone the feeling that America has become quite poor. Has America already seen its better days? An emphatic NO- but there is  something dreadfully wrong and it has nothing to do with how wealthy America is. The problem lies in who has the megaphone and who is badmouthing the United States and what we have the power to accomplish as Americans.

Our national wealth has nothing to do with dollars, or deficit spending, or unemployment rate. These concerns are all either bogus or a result of stilted mental thinking.

Our national wealth is the  measure of all the goods and services we produce in any year. Our potential national wealth is made up of all the goods and services which we could produce if all hands were on deck and adding value. Right now we have 11 million Americans unemployed. We have another 15 million who are underemployed. What if we had as many of these people working as wished to- producing goods or services? This is what we call full employment. Full employment is a worthy and achievable goal. We talk about the implications of full employment here. LINK

We do need to bring up inflation here. Not that we have a problem with inflation but a mythical fear of inflation is one of the big bugaboos that rich members of Congress worry about and billionaires worry about. Why do so many politicians and billionaires believe silliness about inflation? Well, the are either misinformed or have ulterior motives. There are a lot of ulterior motives here helping push myths about inflation and we discuss those here. Inflation is a serious issue, and we have potential problems with inflation, but not what gets talked about. We have serious challenges which can spark cost push inflation and they get ignored because we are caught up with distractions with myth-making. More on inflation here. LINK

What you and I are much more interested in is economic growth, expanded opportunities for jobs and new businesses, and a rich variety of opportunities for our youth. Nothing stands in the way of growth, but either misinformed or malevolent thinking.

But before we expand our discussion on how rich America is, we need to address the "problem of the deficit" You have seen the debt clock running and we owe 15 trillion dollars... what exactly does that mean and what are the ramifications? We really do need perspective on the national debt and the debt ceiling.  Is it a serious problem or a power tool for economic growth poorly understood?  Do you want to see America grow? Do you want to see expanding opportunities for you, for your children, for all Americans? Well, this is a critical question to answer.  LINK

How wealthy is America?

Lets stop and consider the great wealth created by robots and technology. Remember we measure wealth by what we can produce in goods and services as a nation.

So then why do we feel so poor?

How Wealthy can it be? There is nothing that stops our economic growth if we understand investment for the future. We need to grapple with these big issues, and these are not just our issues, but issues on every continent. And when America does focus on theses national issues, and focuses on economic growth that does not create more sustainability problems, does not exacerbate our issues with clean air and clean water, and focuses on reducing the CO2 pollution; well, we will be wealthier, and we will have earned the right to be the world's leader throughout the 21st century.

We will go into much greater detail on these issues later, but right now, we need to understand that Our National Wealth can be enhanced by government investment  in research and development of new energy sources, investment in infrastructure that enhances our ability to keep and source more clean water, and  protect us from rising oceans and more turbulent weather. We need to empower our youth and enhance higher education in all aspects. We need to invest in creativity, in creating new leaders and in helping enhance our human talent- all of it- in America. And it is not only a problem in America, because today the national security challenges reach well beyond our borders in the natural world.

All these national security issues require government investment.  That is why we must do battle with all the myths and myth making about government spending. That is the reason why I have created Stu's economic rules. That is why you must have your own set of rules based on clear thinking about what is good for Americans, not billionaires or politicians. What is good for America, for America's children and America's future.

America, showing vision, showing the determination to grapple with real issues and avoid phoney BS, can lead from vision and conviction. What is stopping us. Fuzzy thinking. Fearful thinking. Short term greedy thinking. How can change this? Not politicians. Most of our politicians today lack understanding, lack empathy, and have all together to much deference  for wealth and power.  We will get into this later, but a future prosperous America needs you involved. Lets build a better America. Lets build a richer America. Lets build on and build bigger dreams for the future.

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