No Growth Economy. New numbers say the US Economy grew by only .2 percent. Yet still, the Federal Reserve says the economy should grow now in the second quarter. Never mind all the ‘experts’ predicted 2015 would be a ‘blow out’ year, and that they have been revising their predictions down all through the quarter, they were still way above what the numbers actually show. Excuses? They have a few. The weather. The work slow down at the Port in Los Angeles. The weather. The strong dollar. Did I mention the dollar? The US has now had quarter after quarter of slow, no, or only anemic growth, and yet the Obama administration and its apologists, and the bone headed financial media call it a ‘boom’. Meanwhile small and medium sized businesses all over the country know it for what it is. A no growth economy. Why do business writers believe things will change if the policies don’t change? Does the consumer really account for 70 percent of the economy? What if we’re using the wrong tools to stimulate the wrong things? What’s that old saw about the definition of insanity? Banks aren’t lending because they can make more money borrowing at the discount window, reinvesting in the stock markets. Companies aren’t investing because they’re buying back their own stocks. The US corporate tax rate is the highest in the world (by far), and the tax code is so complex it costs us dearly in productivity lost (while we comply with the tax code) and literally billions of dollars spent complying with its byzantine rules. Regulations of all kinds make it almost impossible for small and medium sized businesses to grow. What are the policy ideas we need to hear from candidates (which we’re not hearing) to fix the economy. It’s not about inequality. It’s not about ‘reformicon’ tax policies (which are actually democrat tax policies warmed over), or making the government work more efficiently. In this podcast, some ideas you may agree or disagree with, but it will definitely start you thinking. Sponsored by Ryan Plumbing and Heating and X Government Cars.
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