They Were Wrong
10:31 Public education is under attack. From the governor, to the legislators, to the business owners -- all of these people are attacking public education. They are attempting to take away our insurance. They are trying to take away our retirement. They are working to cut our pay. They have declared war on educators.
For the most part, the people don't seem to notice. Gasoline prices are the talk of the day. What goes on in Lansing is much less interesting and relevant, other than the idea of raising taxes on the poor and working people.
The legislators in Michigan and in Washington DC propose reducing the taxes on the rich. They argue that huge tax breaks to oil companies, and no-taxes at all by huge companies like G. E. ; well these things are okay, and even good for the economy.
The economists didn't even warn us about the coming crash in the housing market, the crash in the stock market, the collapse of the job market, and the return of high gas prices.
*****
Economists claim that it is "good for the economy". Lowering taxes on businesses? Good for the economy. Decreasing wages and insurance benefits for teachers? Good for the economy. Outsourcing jobs to any country, other than the USA? Good for the economy.
This is all false.
These things are not good for the economy. We know that. Common sense tells us that if we have less money to spend, then this is NOT good for the economy. And yet, the politicians want to reduce spending. That is code for they want to reduce jobs; or reduce pay.
*****
They said our houses would be worth more.
They were wrong.
They said the stocks would keep going up.
They were wrong.
They said that severe recessions were no longer possible.
They were wrong.
They said that outsourcing jobs would be good for America.
They were wrong.
They said that everything was going to get better, if we just kept trusting them, and doing what they advised.
We were wrong.
We were wrong to believe them.
It is wrong... to continue teaching their false "theories" to our students and our children.
It is no wonder that a large fraction of the public supports these proposals; they have been taught that this is the "right way".
The teaching of money --- finance --- and economics in schools is in crisis.
For the most part, the people don't seem to notice. Gasoline prices are the talk of the day. What goes on in Lansing is much less interesting and relevant, other than the idea of raising taxes on the poor and working people.
The legislators in Michigan and in Washington DC propose reducing the taxes on the rich. They argue that huge tax breaks to oil companies, and no-taxes at all by huge companies like G. E. ; well these things are okay, and even good for the economy.
The economists didn't even warn us about the coming crash in the housing market, the crash in the stock market, the collapse of the job market, and the return of high gas prices.
*****
Economists claim that it is "good for the economy". Lowering taxes on businesses? Good for the economy. Decreasing wages and insurance benefits for teachers? Good for the economy. Outsourcing jobs to any country, other than the USA? Good for the economy.
This is all false.
These things are not good for the economy. We know that. Common sense tells us that if we have less money to spend, then this is NOT good for the economy. And yet, the politicians want to reduce spending. That is code for they want to reduce jobs; or reduce pay.
*****
They said our houses would be worth more.
They were wrong.
They said the stocks would keep going up.
They were wrong.
They said that severe recessions were no longer possible.
They were wrong.
They said that outsourcing jobs would be good for America.
They were wrong.
They said that everything was going to get better, if we just kept trusting them, and doing what they advised.
We were wrong.
We were wrong to believe them.
It is wrong... to continue teaching their false "theories" to our students and our children.
It is no wonder that a large fraction of the public supports these proposals; they have been taught that this is the "right way".
The teaching of money --- finance --- and economics in schools is in crisis.