I Will Be Honest…I Want To Puke
The relentless misconceptions about economic truth propagated by the media makes me sick.
It’s not clear if everyone (except a few) that get regular time on TV are economically illiterate or so scared they have sacrificed common sense for wishful thinking.
Let’s take a discussion about mark-to-market accounting that I heard. The argument goes…if companies could change the value of assets on their books so that they are worth more would it save the economy.
Is that a real question? Let me frame it in a less complicated way. If you had a car that does not run and you could not sell it would changing the price in Quicken change what it is? Would it all of a sudden become a functioning car that brought you to and from work each day?
No amount of accounting trickery or monetary management is going to change the physical assets of our economy. Adding dollars does not change the amount of things.
The only actions that can add more things to the US economy are the people that producing more. However, people are not going to know that they need to produce more if truth is distorted by bad economic policy. The real solution to the economic failures in our country is market reality. If the media would kindly present the truth instead of propagating nonsense we might actually get out of this thing with our dignity.
FACT: Economic production is the result of action not monetary manipulation. Economic prosperity is the result of fair system that rewards the producer not those with political clout.