by Tim Williams

Created on: November 11, 2008

Warren Buffet stated recently that our economic troubles of today began with what he deemed as " geek's bearing formulas," actually is quite profound. When wall street brokers, investment firms, and major banks created endless investment schemes in their thirst for the quick and easy profit the whole financial system collapsed and in doing so took hold of all the worlds economies. Most corporations have for some time have literately taken a script out from the movie Wall Street " Greed is Good" as their mission statement. Long gone are the days of businesses quest for quality, durable, and affordable products and services.

In all the news today major corporations and businesses are succumbing to the financial pressures of keeping their profit margins from falling further and pushing their business into an economic abyss that they might never be able to climb out of. A prime example is General Motor. As General Motors struggles to exist all support industries that have a direct tie to GM are now faced with an uncertain future. Most are beginning to lay-off workers, close plants, and out-sourcing jobs to foreign countries all in an effort to stave off the continuing economic shortfall that the United States created.
When companies use out-sourcing their workforce in trying to improve their immediate bottom line does in fact do just the opposite for their long term growth, prosperity, and stability. It also creates more economic hardship here for all Americans and does pose a National Security threat for the United States. A spiraling downward economic Domino effect is now occurring all across the United States and is spreading through-out the world.
History does have a way of repeating itself. In away the economic woes of today bare a similarity to the period of the 1930's. Back then President Roosevelt knew that the only way to resolve that crisis was to implement bold, decisive, and strategic policies. Passage of the New Deal, the creation of the WPA, the FDIC, and Social Security all were part of that bold approach that propelled the United States into the largest economic expansion in history following World War II.
Today what is needed is in two parts. A stimulus agenda. A "jump" start and a long term solution to this crisis must be incited. First; a stimulus package aimed primarily for the working class Americans. The tried and true economic policy of more people with more deposable income will and does improve the economy. The more people with more money to spend or pay down debt does create economic expansion. Second: for long term prosperity and end the economic plague that has been thrust upon the United States passage of a National Economic Reform Bill is crucial to the future of America. National Economic Reform's eight part agenda deals specifically with the current conditions and paves the way for creating living wage jobs which is essential for the continuing economic growth, achieving national security, restoring our credibility in the global community, and bringing lasting prosperity to all Americans.

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