The Federal Reserve and We the People
The Federal Reserve is a for-profit banking institution now endowed by legislation. Ever since the advent of banks becoming stock brokers and stock brokers becoming banks, the Fed works for bank security and income. We the people have become invisible cogs in the wheel.
If you look at large cap stocks, you’ll see very few real gains. Large corporations have become lean and mean - cutting costs at every turn. They have downsized, merged and cut jobs - all to increase profitability, not business growth. They buy their own outstanding stock so that remaining shares will become more valuable.
This is financial maneuvering made possible by cheap money from banks that got it from the Fed. Very little value has been generated through increased production or expanding sales. These fundamentals, as we know, are the economic engines of job growth and tax revenues from true profitability.
No quantitative easing has made the life of the people better. We have more people unemployed and under employed. Many are forced to retire and still others are working into old age to make ends meet. More young people are burdened with educational debt and no means to pay it. People have lost their homes and life savings. More of the elderly are forced to move in with their children and grown children remain living at home into their 30s. Many families survive by joining into quasi tribal groupings.
A lot of money has been spent in government largess, but it is supporting idleness, a social malady (“Idle hands are the devil’s work”), causing addiction, theft, violent crime, predation, fraud and sociopathy.
Society has paid a price for the mishandling of the economy. Coupled with government corruption, ineptitude, fraud and cronyism, we face a culture of decline and with it, actual societal poverty.
An ever spreading air of disgust is filling the abyss created by federal and state governments and their agencies. An environment of disillusionment, pain, fear and confusion lies just beneath the surface. The time is ripe for leadership based on strong constitutional principles. The time is now for We the People to think about the next elections. Our vote is our principal recourse for righting the ship of state. Only a radical change can revive America’s economy and thus its future.