America's Big Sneeze

All bets are off!  No matter who wins the U.S. presidency in November, the budget crisis will keep their hands tied from enacting any new policies in their first year.

Last week, I wrote a piece about Wall Street and the American economy, and I referred to America has having sneezed, that might’ve been an understatement. 

What I should’ve written, or what I meant to write, was that America sneezed and it was of the highest magnitude.  It has sent the country reeling into an all out, full fledge body convulsion, with eyes squeezed shut, knees bent, head reared and jerked about to face a seemingly free fall of the financial markets.

The U.S. government's Bail Out, the first ever in the history of America, may be like a huge handkerchief, but it will be ineffective if America doesn't get busy. 

Because, in addition to the woes on Wall St., the country’s national debt has skyrocketed too.  It’s getting close to 70% of the GDP (Gross Domestic Product).  To put this into perspective, Britain’s national debt is 43% of its GDP, France and Canada’s is about 65% and Japan is 150% . 

If the GDP measures the nation’s economy by totaling the goods and services produced, then I have to ask, what exactly does America produce?

We have to get back to our roots, that is America has to start producing a viable commodity--corn, or steel or re-invent the wheel or at least try to reinvent wheel.  One thing is certain, we cannot sustain a healthy economy if we are a nation of consumers. 

America has got to get back to work.  Back to building and manufacturing.  If we don't, then America is going to sneeze again and again and she’ll continue to sneeze as long as there's dust collecting in her factories and idleness among her citizens.