Once again, our friend Asher Edelman has come out with a response to the current bailout plan. In no uncertain terms, he refutes the idea that the trickle-down economic policy will work in this case (or in any case in this country’s economic history). We are inclined to agree. Read on…
The total assistance given, loaned or guaranteed to the finance community by the administration and blessed by Obama advisors has reached approximately 8 ½ TRILLION dollars! No monies have gone to aid homeowners, credit card debtors, the middle class or, in fact, any class other than the banking and financial community, those responsible for the bubble. This will not be a successful adventure! The economy can not find its footing without direct and prompt aid to the backbone of our country, its average people.
Recent weakness in the dollar has emphasized the international view that the U.S. recovery plan is corrupted and skewed towards a trickle down effect, a method clearly proven to be ineffective in economic planning. The methodology in place will deepen the Depression and will accelerate an inflation which will equal that of the Weimar Republic, where the wheelbarrow became the wallet of the moment. The escape routes are limited as ultimately most countries will compete to degrade their own currencies as a matter of survival. There will be exceptions, but few and far between. To protect our people and the world’s people please insist that our government redirect its recovery program to where it is needed and will succeed, the average man. Only from the people will better economic times flow.
For yourselves-think sustainable hard assets (non industrial-based) be in debt and own safe currency. Any European investor who bought Treasury securities three weeks ago has now lost about 20% on his investment translated back to his own currency. OUCH!
Asher B. Edelman
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Asher B. Edelman
Edelman Arts, Inc.
47 East 63rd Street
New York, NY 10065
T 212 758 4440