Policies hamper economic growth
Your October Associated Press article dealing with weak economies around the world was both interesting and insightful. The group of G20 Finance Ministers that gathered to discus the weak world economy and its recession potential didn’t seem up to the task. Our treasury secretary, Jacob Lew, said the governments of Japan, Europe and China were failing to address their own persistent demand weaknesses — Germany in particular, which presently enjoys a trade surplus.
Secretary Lew also said these countries needed to stimulate their industrial growth. An interesting comment to be sure, given the fact that our government has spent the last 44 years dismantling the world’s largest industrial complex in an effort to save the environment. An effort that left both our economy and subsequent world economies in shambles.
So how have we resolved our own industrial/energy demands while maintaining economic stability? We have quite obviously failed in that regard. We outsource at least 50 percent of our industrial and energy requirements while maintaining 60-70 percent (as of 2007) service oriented economy. An economy that is $17 trillion and counting in debt.
Secretary Lew needs to heed his own advice and focus in on the policies that continue to hamper our own economic growth.
In the mid-seventies, the Republicans offered the Democrats a more economic friendly environmental plan. It was summarily rejected by a Democratic Congress. Renewable energies once touted by everyone were also rejected by Congress in the 70s. I was in my 40s at the time.
Ron Wood
Dayton