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Never a day goes by that I am not utterly amazed.
Although so much has changed since Calvin Coolidge uttered his famous 1920s statement, the fact that the business of America is business is today more salient than ever.
Back then agriculture had lost value by being commoditized, and the profits were in industry. Today industry has been super-commoditized, and value is in service. As we read this service is rapidly being commoditized.
So where is the value? As best I can tell, if you have more goods and services being produced by fewer and fewer people, under our system who is going to buy the goods and services?
Seems to me the real value today is held by, ironically, consumers. Yet our philosophical underpinning of our current rulers in this country is anything but pro-consumer.
Bankruptcy is pro-consumer, because it gives consumers a fresh start that enables them to resume consumption. Making it harder to get that fresh start means fewer consumers.
Outsourcing high-paying jobs in favor of lower paid workers in India is good for India, but bad for consumers here.
Having a health care system that is out of reach for consumers not only creates fewer health care consumers by at best not letting them consume and at worst, killing consumers. It also keeps these people from consuming other things they might consume. Moreover if they do manage to recover, physically, they can no longer get a fresh start.
Depriving Social Security beneficiaries of their Social Security benefits helps them consume? I think not.
Taking reservists from high paying jobs and keeping them on active duty--helps or hurts?
Tax cuts for people who already have more resources than they can use in a lifetime (which is really a cover for increasing the relative tax burden of the middle class) . . .?
Offering less help for middle class students to get their education, effectively shutting them out or saddling them with huge student loans. . .?
I could go on. What can I say, except that I'm utterly amazed. Something has to give somewhere. Doesn't it?
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