They are normally invisible to us, you know. Belief systems, that is. But they guide our decision-making by ruling in or out whatever is possible. When you hear somebody say 'I couldn't do that', they may well be describing a belief, not a practicality.
When I moved to America in the nineties, an expression used to describe people was that they can 'think out of the box'. That usually means think differently, outside of the conventional train of thought. Think the unthinkable.
News in the US is currently dominated by economics and fiscal cliffs. One side says cut taxes to stimulate GDP, the other says spend more to stimulate GDP.
I am reminded of two small boys fighting in a sack. Lots of activity, with each momentarily getting the better of the other, but they can't really see what they are doing - and they are going nowhere.
Regardless of the above, we can expect to see the bailouts continuing. The money will go to the banks under one label or another - and there it will stay.
It is not widely known that when the US Federal Reserve (a privately owned institution) was finally audited in 2011 it turned out that the 2008 crisis (which has not gone away) enabled $16.1 trillion to be paid to the banks and major corporations.
We are now faced with exactly the same 2008 scenario (UK, Europe, Japan and the US all in trouble). Therefore it is reasonable to expect the same thing to happen again (except this time the starting point is trillions - billions are so last century).
Now, the adult population of America is about 230 million people. Why not give every single one of those people $70,000 each. For the most part they would put the money into a bank anyway (so the banks should be happy). It would boost spending (good for GDP and corporations - so they should like it). And as the money is spent and profits are made, the government would raise more taxes (so they should like it).
What's not to like? Although, you may believe it will not work!
Posted by Nicholas Moore 7:30:25 PM