Economist 85
McCain's General Election Kickoff Speech, Part 10: Unemployment and Free Trade Jul 23, 2008
John Mcain speaks some truth, Globalization or Americas participation in the global economy is essential. The panic of 1893 which was caused by the collapse of two American companies which then caused bank failures is an important reference point. Prior to the panic the overextension of the railroads, bad loans and land specualtion had created a huge speculation bubble. when the bubble burst it signified the decline of the gilded age. If my history is valid the Mckinley Tarrif sought to limit foreign goods and thus caused the prices of many goods produced domestically to rise. The original intention was to provide security to domestic producers however the Mckinley Tarrif rapidly increased inflation.
The Panic of 1893 mirrors the present day, Big Coal was transitioning to Big Oil , Bad credit a loss of savings and mortgage defaults were common.
The idea of change for Mr. Obama is actually not change at all,gone are the days of isolationism economically. Taking into consideration the world population and the development of countries which were once third world, globalization only seems logical. For with out co-operation we will see a rise in nationalism and renewed disputes over resources.
McCain on immigration Jul 21, 2008
Interesting how the issue of border secuirty finds itself as one of national security. As the input prices continue to rise along with the price at the pump expect lower wages and less jobs. however with the border secure and illegal immigration in check the surplus of labor will lesson and serve as catalyst for wages to increase for the select few that can find work. The Fact that low wages enatails relatively low prices is a tough pill to swallow. So if we postulate on my logic eliminate the labor surplus job losses intensify furthur.
Paul on leadership, management, and fixing the economy Jul 19, 2008
Ron Paul speaks the truth which makes him un-electable. The truth gets you enemies, flattery gets you friends. The boom bust cycles of our economy are caused by speculation or dishonest money... Go ron paul.