Young people this is YOUR economy and YOU get to choose if you want to live in it.

Janet Yellen said it all last week in one simple sentence that almost all financial and news reporters just let blow right over their head.  Not surprising of course since 95% of all news people are Democrats and have at most a 6th grade education regarding economic matters that they could care less about learning more about anyway. Actually it comes down to one word she said during last week's press conference after the Federal Reserve meeting.  That word was "involuntary."   As in involuntary part time workers.  

That involuntary workers theme was the primary reason the board left interest rates at virtually zero for about the 8th year running.  Truth is despite the rhetoric from Obama last week about a great American economy our economy "sucks" as the young people would say.  As in there almost no growth and no real job creation, beyond part time.  Not to mention so many people have dropped out of the labor force and on to government welfare of some sort as to depress the participation figure to right at an all time low. 

A no growth economy is not a good thing unless you are in an industry that is basically bullet proof to economic concerns. Only two job types seems decently secure right now,  something in the health care business and on the government payroll.  The first though is subject to economic concerns when things get really tight, but on the other hand a government job is as secure and worry free as they come if you can get one and most can not.  Only the privileged few have one. 

So if you are living in the real world where business conditions are important to job security and for many level of income indeed economic growth is important.  History rhymes but rarely repeats.  We are reliving the late 1930's economy right now in America and now as then it is not a pretty story.  Going back to Ms. Janet and her no go interest rates we too are reliving the late 1930's there in that the rate then had been at zero for many years and finally in 1937 they moved it upward ever so slightly and the bottom feel out of the economy.  So Ms. Janet and her gang are left wondering if they too are going to repeat history with a small push up in rates.  Then World War Two saved the economy, so maybe something will bail us out again, but that obviously is not the best scenario.  We continue to say no interest rate rise until after the 2016 election if for no other reason, political concerns. 

Life cycles repeat about every 80 years on average, since generations are about 20 years long, it takes about 4 generations to forget about stupid mistakes we made in the past and repeat them again.  History is a constant move upward in technology and medical achievement and such, but human nature never changes.  Greed and fear have been constants for thousands of years and will remain so for as long as humans reside on this ball of dirt.  So despite great progress in standards of living human nature forces foolish repeating of forgotten errors in judgement.  

So the response to the Great Depression was a huge growth of regulation, taxation, and overburden of small business where real jobs are created.  The result then was government created jobs where one person was paid to dig a hole and another person was paid to fill it up.  Sounds great huh?  Well remember the only way we got out of that mess was to blow up the world with war for 4 years with lots of death and dying and in 1945 got to sorta start all over again.  So what has been our response to our own Great Recession,  yes you got it more regulation, taxation, and overburden of small business, where now the rhyme to dig a hole jobs has been lots and lots of part time jobs with no benefits and not future.  Even the full time jobs that have come about are based on very shaky business going forward.  

Now we can sit here with our Obamacare, Dodd Frank regulation, and taxation of small business or we can do something about it like change leadership in Washington.  The good news is that most states in the country have changed leadership and those states are slowly moving forward even with the heavy handedness from Washington DC.   Young people this is YOUR economy and YOU get to choose if you want to live in it.  However you only get one chance to make a difference as once this no growth scenario is locked in you can stick a fork in it as you and your children must live in your new normal created world.  Maybe you like no growth and hoping to win the lotto game of getting one of those safe and secure government jobs? But most of you will lose that game.  In 2016 you get to choose your fate and your future economy and yes even your future life style.  Make the right choice and life will be more than hand outs and low expectations.  

Voting for Hillary Clinton makes people like me and her richer day by day.  Hillary and I are part of the political economy and financial engineering of the Federal Reserve that keeps the goodies flowing to us with accumulated assets and away from young people trying to accumulate those same assets.  We with assets enjoy lower than low interest rates since our futures are tied to banks and the ALREADY financially secure class and frankly since the current resources are so small we much prefer not to share.  On the other hand you can burst this little rich folks bubble with a pro growth pick as your leader who will not only deregulate, but also lower taxes, and clear the mine field for small business for some FULL TIME job creation, but more important do all this without a world war.   

Your choice, your future.  I will be sitting on the beach watching if you too will repeat history's mistakes.