The American Economy
The American Economy.
01/29/2005
Wall Street, probably the best thing that ever happened to people of power and money. That was a place very rich people could go, invest their money and gain at the expense of other people, and those other people were not of the elite, ruling class where access to Congressmen or high level corporate heads was allowed. Big names on Wall Street then, are still with us today.
Wall Street --- a close chum of the United States government, able to get laws passed protecting it, the best thing that ever happened to the world was America's Wall Street. Wall Street makes the world go around as it ensures American dominance over the world where Wall Street money is spent and that money can make or break a nation of people.
Up unto 1929, the economic games played by the big players on Wall Street in America
(the corporations and very rich people), went unchecked. Games played well could make people very, very rich. It was a game even played by foreign powers. When there is only so much money within a economic system, to have a winner, you must have a loser.
The economic games caused people to decide to buy or sell: mostly sell. Rumors spread by big investors, or friends of big investors, would cause panic selling of shares soon to be gobbled up by characters standing back in the shadows, adding to their spoils, pennies on the dollar. But then, in October 1929, the game melted down.
People will agree or disagree on how the Great Depression started, but no one can ever deny the effects rumors or scare tactics had then (or now) on Wall Street when it came to how and why stocks were traded.
In a few years, the country's economy was on the ropes. Not only did America's economy hit rock-bottom, it also brought down with it a good portion of the free world. Economic recovery from the First World War, for other countries, had not progressed enough yet to insolate those countries from the effects of the American Great Depression, so the suffering was world-wide. The foundations of governments started dissolving as conditions worsened.
An issue that came up in America at this time were the States in the Northwest. By the mid-1030s, there was a strong moment (in some areas of the country) to break-away and from their own government. Those people had had their fill of the U.S. Federal government and its inability to mend the economy.
The rich people watched, still investing or sitting on their nest eggs, as Hitler came to power. With the additional financial backing of some very rich British and Americans, Hitler finally gave cause for America to go to war and that probably saved the Republic and the Constitution.
President Franklin Delano Roosevelt was once asked, during the Great Depression, about his new and radical programs that were geared to save the economy. President Roosevelt was told that if his policies were successful, he would be the greatest American President ever. President Roosevelt, in return, stated that if his programs failed, he would be the last.
Since then, laws and rules have come into play, supposedly, removing the chance that Wall Street will again be manipulated, but the power of money is very strong.
The American economy: based in Wall Street, susceptible to rumors that can destroy the nation, and cause untold grief to the rest of the world.
The question could be asked: How long will the rest of the world go along with this type of thinking?
Will other countries fall in line, behind America as they have for decades, counting on the strong American economy to give them influence, guidance, and backing even as they see the U.S. economy taking a tailspin?
There are other power groups in the world that remember the Great Depression and the possible games that caused it to occur. These same people remember the "winners" and the "losers," and how the effects of economic stress effected their governments. As the American financial picture weakens, these other power groups (and governments) are looking for better economic foundations to attach their economies to.
As the American economy worsens, Congress continues to spend money the nation does not have.
As the American economy worsens, Congress goes out of its way to allow off-shore investments, tax-free incomes, and corporate protection for those who have a key to the back offices through soft-money.
In the end, it's about the same old game that was being played in 1929, but this time, the end-results can be much different. In the early part of 1929 America had a stronger industrial base than it does today. Today, that is all gone. Combine that with the country's deficit of trade, the American economy could appear to be like a whirlpool of water, quickly going down a drain. Soon, the sink will be empty, and there will be no reserves to build from as most investment monies have been used in the Pacific Rim, in Europe, and in Asia.
The stakes are very high. The nation is on the selling block as more money flows out of the country.
Europe has an economic plan. China and India are future big-time world players, to be sure, but America can only spend more money it doesn't have, nor will have, in the tomorrows to come as it keeps reminding itself how great a nation it is as its people go jobless, hungry, and without purpose.
American barely survived the last economic depression. Only a world at war brought it fully out of the depths of destruction. When the economy is strong, everything is great, but when the economy is broke, nothing works right.
Flip the switch on the wall and the lights do not turn on. Turn the lever and the water does not run. America may be only a few years away from when the lights and the water stop.
Until Next Time...Supersonic Squirrel away!
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About the Author
The brother of the Editor at www.miamitopics.com, SuperSonic Squirrel is a concerned citizen who wants to share his concerns and issues.