Truth, Justice and The American Way

I love TV because I grew up with it. TV to me is like an art form that has changed over the years to attract a bigger and bigger audience. There is nothing wrong with that as networks like CNN and MSNBC and others can not stay in business if they are not making a profit. If their programing gets too intellectual, they will lose viewer ship, and viewer ship makes their world go round. Many years ago, when I was a young boy, my father had my brothers and I watch a program on Sunday afternoons called Omnibus with Alistair Cooke. Omnibus’ programing was too intellectual and eventually disappeared from the airwaves.

Today, I was watching a lady on CNN explain that the Fed was charged with two responsibilities and that they were trying to keep them in balance. The first was to keep the economy growing and the second to keep inflation down. Simple enough you might think, but if you have been reading moneythoughts just once in a while, you know that nothing in economics is that simple, especially in an economy as complex as ours in the United States.

Our Federal government has a big hand in the direction our economy is going and where our taxes are being spent. Money spent here within the United States to repair and improve the infrastructure does different things for the economy than money spent on a “war” in Iraq. Money spent on subsidies has a different effect than money spent on research and development for alternative energy sources by universities and private research organizations.

Several factors have taken our economy to where it is today. Monetary policy is just one of many factors and perhaps it is not one of the primary factors as this economic story evolves in 2008. Oil, diesel and gasoline and their sudden sharp price increase has taken the lead role in this economic drama over the last two years.

No one wants to talk about the historical significance of oil in our economy and the role it has played since the end of World War II. Talking might lead to thinking and we can not have Americans thinking. Thinking people vote, and they know the difference between the BS issues designed to sidetrack them from the issues that affect their wallet, and the issues that directly affect their economic well being.

The United States, though perhaps criticized around the world from time to time, is known as the economic engine of this planet. When the engine is in trouble the train does not move. Other engines depend on our engine to help pull their train. The cost of oil is having an affect not only in the United States, but around the world. When people rise up and protest, the politicians will get the message. Not many politicians have ever had anything to do with drilling for oil or natural gas. If we could run the country on their hot air, we might be energy independent, but that is only in cartoons.

So, the Fed wants to keep inflation down and at the same time keep the economy growing. No one wants a recession. The key ingredient in this economic equation is oil, and the Fed has no hand in that. This is a job for Superman! Where is Clark Kent when we need him? Truth, justice and the American way are under fire. We need a Super Hero to get us through this, where is he? Will the real leader of the free world please stand up! Stay tuned.