CTMike

Thursday Outlook: Commodities, Emerging Markets

David hit my hot button commenting about broken politics,
David, you are right regarding the suggestion that Washington needs to be fixed. Having worked there for a long time, I was was an eye witness to the debauchery of our political system. They spend trillions of dollars and accomplish very little (lots of self interest accomplishments but very little will keep this country great). I can't think of a single thing of significance that is working well: social security, Medicare, immigration, infrastructure, education, health care, energy independence, financial oversight, manufacturing, etc. are all floundering. The system is so focused on hidden agendas and "politics" that it is doubtful that any of these issues will ever be fixed.
David's suggestion of term limits is a good thought but remember, these folks are not stupid and they will quickly adjust and keep the status quo. Two more effective actions are 1) pass a constitutional amendment that the budget must be balanced every year and all debt has to be retired within X years with the sole exception of time of a declared war. 2) Reduce the federal budget X% every year and return power back to the states and local governments and stop becoming a socialist country.
David is right in that term limits or any other attempt to control power won't happen anytime soon. Folks are simply too distracted. It's like the frog in a pot of water that is heating up. The frog could easily jump out but that warm water feels oh so good and at some point its too late. Unfortunately, it will take a cataclysmic event such as another great depression or another terrorist attack that makes 9/11 look like a non-event before attitudes begin to change.
If we can get power back into the hands of folks (local representatives) that we know and trust, then we have a chance of turning this turned around. If we continue the status quo, we deserve what we get.