FIAF – Cover Song Eition
This recession might well have been a deep one even with good government policies, but “government failure” added greatly to its length and severity, including its continuation to the present. In the U.S., these government actions include an almost $1 trillion in federal spending that was supposed to stimulate the economy. Leading government economists, backed up by essentially no evidence, argued that this spending would stimulate the economy by enough to reduce unemployment rates to under 8%.
Such predictions have been so far off the mark as to be embarrassing.
Not only is unemployment still north of 9%, but the government sucks at “investing” in our future (three solar plants have gone bankrupt in the last MONTH) and there is no such thing as a “shovel ready” job.
The misdiagnosis of widespread market failure led congressional leaders, after the 2008 election, to propose radical changes in financial institutions and, more generally, much wider regulation and government control of companies and consumer behavior. They proposed higher taxes on upper-income families and businesses, and extensive controls over executive pay, as they bashed “billionaire” businessmen with private planes and expensive lifestyles.
Obama and his type have attempted to move us toward a society where it’s only ok for politicians to live this sort of life. And their political backers.
Everyone else needs to know that sometimes, you’ve made enough money. Not enough money, of course, for spouses to take separate jumbo jets a few hours apart for their vacation. No, only government officials have that kind of crazy money at their disposal.
Enough of this.
Here’s some interesting cover tunes. SYWM
Adele doing The Cure
And then here’s Linkin Park doing Adele