The Way Forward: Who has the right idea? Paul Ryan?
Posted By RichC on August 24, 2014
The stock market roars to new highs as the summer comes to an end, but investors continue pouring money into higher risk equities as if they have forgot what can happen. 
This is in part due to the low yield in fixed income assets and the new indice highs have more than a few economy watchers nervous. We all know that it is time for Quantitative Easing to end and the Fed to start increasing interest rates, but can we take it?
I’m not the only one wondering if markets are getting overly rich when it comes to the reality of corporate earnings and in particular small business profitability. How much of this is the devaluation of the dollar?
What changes have we made?
The job market still stinks; unemployment is still above 6%; long term joblessness is “way high” and too many abled bodied Americans are not participating in the anemic rebound … let alone are on a career path. I’d be bold enough to say that the policies coming from bureaucrats with the purpose of helping our economy have actually cost taxpayers more than they have help create job and employ Americans … particularly when it comes to the working poor. Americans who struggled with debt and paying their bills pre-recession, are still struggling with debt and are now older facing retirement without the proper saving, if they have any left. Those who were fortunate to key a steady job have seen wages stagnate have trouble believing their future is bright when they watch millions of illegal immigrants flowing into the country looking for a chance to fill a workers’ shoes. College students are still facing few jobs in their field of study and have to assume that they will be carrying student debt most of their lives. For them, having extra dollars to put into retirement savings, a house or the attention getting stock market are not seeing the same bright light at the end of this recession.
My big concern is that we as a nation have become addicted to handout and borrowed money. As debt continues to mount (nearing $17.7 Trillion in debt), I’m not seeing a clear “way forward” … where’s the balanced budget, the closing of loopholes and fixing both the corporate welfare and tax code? Where’s the reeling in of government spending, big salaries and “out of whack” benefits paid to Federal workers? I’m not entirely sure our nation is going to be able to function without the IV-drip coming from the Fed? And I haven’t even thought about social issues or world affairs! Maybe I need to read “The Way Forward: Renewing the American Idea” by Paul Ryan? Stay tuned … I need to read. 
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