Seven Years Frustration, anger, and fear are often cited as emotions tied to the 2016 presidential campaign. Our elected officials in Washington D.C. have the lowest approval rating in history. Polls indicate that a majority of Americans believe our country is heading in the wrong direction. An inept Congress with no visible plan for our future scares people. Voters believe when the next crisis comes our politicians will be unwilling or unable to deal with it. Willem Buiter, chief economist at Citigroup, warned that the U.S. is particularly ill - equipped for the sweeping changes transforming the global economy thanks to a dysfunctional political system. The ongoing presidential campaign only reinforces this astute observation. The rhetoric, finger pointing, name calling, and lies are characteristics of a broken and desperate system. The threats and promises these candidates have articulated are truly unbelievable. Let me reiterate, not believable. They are in total denial of our present predicament. Protesters and supporters at political rallies engaged in fist fights is now a sign of the times. Historically, extreme emotions which are not addressed and resolved lead to very undesirable events. How can our society be so polarized and passionate about each extreme ? The writers for " Saturday Night Live " would have difficulty creating a script for this campaign. Even satire has limits. How much would the viewing audience be willing to swallow ? Perhaps a Three Stoogies movie could bring the true essence of our nation's predicament to light. All of this would be hysterical if it weren't so tragic. The World Economic Forum in Davos put a spotlight on many of our current issues. There was, however, little resolution. The opportunities to not only survive but to prosper during trying times are endless. We just need a plan and the courage to follow it. A person with a Mensa I.Q. and literary articulation needs to be writing this article. I don't qualify on either requirement. So don't shoot the messenger. Don't act like our presidential candidates. I just want to start the dialogue. I want a brighter future for my grandchildren. We live in the greatest nation in the history of the world. Let's keep it that way. So where do we go from here ? We have been so distracted by the media extravaganza surrounding the campaign that we have allowed Congress a free ride. This TV soap opera pretends that one person is responsible for solving all of our nation's ills. Congress has escaped the scrutiny that will be required to force them to do their jobs. Most " experts " agree that both monetary and fiscal policy are needed to resolve our economic issues. So contact your elected officials and demand a plan of action to secure our future. Don't accept the party line. If they don't act, vote them out of office. Demand media coverage. What issues can be resolved this year ? The belief that money can solve all of our problems won't work when there isn't enough to cover the interest on our debt, entitlement programs, and the defense budget we presently have. Q.E., Z.I.R.P. and now N.I.R.P. are band aid solutions for a patient that is hemorrhaging. More Q.E. , a big tax cut , and a " helicopter drop " are more of the same. The stated intent is to jolt the economy out of a recession. The reality is quite different. A tourniquet and a limb amputation will be required to save this patient. It is much better to face a harsh reality than to close your eyes to it. Cynicism and apathy are not solutions. We only act when an unavoidable crisis strikes. We are not proactive. I don't want a worldwide depression to be the mechanism that forces Congress to act. The demographics are working against us in terms of Social Security and Medicare. Baby boomers are not going to vote to cut their own throats. Roughly, 10,000 boomers turn age 65 each day. This will continue for the next 14 years. Those still working are going to get hurt. These programs are not sustainable. As a show of good faith, let's have Congress start by reforming the U.S. Postal Service. It's a service most of us use six days a week. The world has evolved. This system has not kept up. Congress can identify the problem areas, define options, and construct a plan to put the service on firm ground. This would be a great first step in restoring faith in Congress. Improving the power grid, making credit cards and internet usage safer, a national water conservation program, and a line by line review of the federal budget removing duplicate, outdated, and pork barrel legislation could all be starting points with the possibility of bipartisan consensus and presidential approval. No one expects us to pay off our national debt. The interest on the debt is 18% of the federal budget. As the debt expands and interest rates rise other federal programs will have to be cut or eliminated to service the debt. Let's get out ahead of this impending crisis. Janet Yellen appears to have a firm grasp of the world economy, a plan to deal with it, and a way to force Congress to act. Interest rates rising 1% per year for the next four years with inflation at 2% appears to be the plan. "Normalized" rates is the goal. The collateral damage is yet to be determined. If I am reading the the tea leaves correctly we should be very fearful of the next 7 years. I don't know if she can persist in the face of the overwhelming pressure the IMF , Congress , Wall Street , and world leaders will bring to bear. She is going to need our support. One false move could scare investors and set off ripples that might create a tidal wave. We are in uncharted waters. Currency and trade wars have caused extraordinairily distorted circumstances to which traditional economic theory no longer applies. Millennials, for example, believe that deflation is the backbone of a healthy economy. They embrace the very technologies that force deflation. They view this as progress. It can also be very disruptive. Simply put, people have no idea what is about to happen to them. Again, frustration, anger, and fear enter the equation. Four years from now I would like the majority of Americans to say that our nation is moving in the right direction. Hope, the American Dream, and peace of mind would be welcome daily expressions. Force Congress to save us ! 435 politicians working together could provide untold opportunities for future generations. Constructive plans of action will be required. Stand up! Speak out! Become part of the solution!
