Current global economic conditions should be of great concern to everyone. Failure of our leaders to address issues vital to our future is troublesome. Economic uncertainty about markets, taxes, healthcare and regulations is killing business. Inability of our leaders to cut through the problems to find lasting solutions is needed now more than ever. Turnaround is dependent on restructuring governments and streamlining decision making through a regulatory environment while maintaining interests of all people.
To take advantage of opportunities, we must usher in a new era of prosperity. Unfortunately, there is little many people can do when economic activity is hampered by government waste and central bank policies that do little to reduce pain that is afflicting many people around the world. Any rational assessment of the situation reveals that debt, out of control government spending and operational inefficiencies are killing dreams for a better tomorrow. Need for concerned citizens to get engaged in creating solutions is not only needed, but required if we hope to usher in any real lasting change.
To grasp the serious nature of the situation, we need to understand why wealth reducing trauma impacts the amount of money that flows into the economy. Pain realized by many citizens is based on the fact that people are spending more than they earn. Increasing levels of debt impacts government’s ability to raise revenues to pay for services. This is why economic revitalization is a critical aspect of any solution. Unless we change thinking about economic activity, we have little hopes of changing a bleak situation.
The real challenge is how to change mindsets. Changing the thinking of a generation of borrowers into savers with incentives to grow business will be very difficult – but this is the reality we all must face. Creating an environment to stimulate economic activity is contingent on streamlining flow of commerce through a regulatory environment while keeping a keen eye on how to reduce waste and inefficiencies that are taxing citizens everywhere. Face it, governments throughout the world are extremely inefficient and way too expensive.
What we all need is a roadmap and an effective strategy for managing transformation. Unfortunately, need to relearn how to live within our means will be essential. At the same time, government leaders need to become responsive needs and be held accountable for their inability to get things done. Leaders who do not address our challenges must be voted out of office and citizens must take a role in helping to reshape our future. What is needed is new ways to promote collective efforts of concerned citizens who are willing to stepup and get engaged. Community after community must come together to help manage our transformation from the ground floor up while maintaining a strong sense of dignity over what needs to get done.
For those who think government can solve our problems, think again. Ability to find free money to stimulate the economy would trigger runaway inflation and devalue the dollar. Conversely, lowering interest rates any further would impact senior citizens living off of CD’s and social security. The only reasonable solution is to entice cash-rich corporations to make new strategic investments to grow business and create new jobs. This will only happen when and if our leaders get their priorities straight. Focus must center on reducing spending, implementing reforms and setting policies that enable the private sector to grow the economy. Any meaningful change must come from the private sector with reasonable support from local, state and federal government.History has taught us that large bureaucracies have the fundamental tendency to self-perpetuate. We have learned that large bureaucratic structures are resistant to change and political mindsets are driven by need for self-preservation. It has become painfully clear that it is extremely difficult to overcome disparate self-interests when elected bureaucrats have lost their sense of purpose. The issue is how to engage the masses to change bureaucratic thinking about what needs to get done to improve our situation.
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