It seems like our government and Federal Reserve are doing as much as possible to send our economy downward. Week after week we are seeing acts of desperation that are attempts to jump-start an economy and prevent a recession that are only making matters worse. Here's a list of some of the quickest ways to ruin our economy:
- Bail out any major corporation that is near bankruptcy due to poor management, over leverage or excessive risk. Don't let the free markets weed out the weak players, rather let them continue to pay multi-million dollar salaries to executives by using taxpayer dollars for the bailouts.
- Drop the interest rates down so low that corporations are encouraged to over-leverage their business, so when the downturn finally arrives, we can bail them out with tax dollars. Don't forget that leverage is good when the market is good, but it is very dangerous when the market is bad.
- Swing interest rates up and down sharply to try to get the stock market to return 10% annually, making sure the stock market dictates monetary policy.
- Allow corruption in public corporations by allowing salaries of top executives to be set by directors, ignoring any conflict of interest.
- Hold minimum wage down low enough to just barely pay for rent and utilities.
- Allow usury and call it the credit card industry
- Make sure this country's workforce cannot grow by restricting immigration
- Spend billions in a stimulus package that hands out small amounts to many people to spend, but has no provisions for true economic growth.
- Create tax policy that allows the wealthiest taxpayers to pay a lower percentage than most middle class taxpayers.