If we want the global economy to thrive again, we must throw out the Leftists

(Freedom.news) In case you missed it, global bankers in the West are extremely concerned that no matter what they do – or don’t do – they simply cannot grow their economies anymore.

At a confab in Jackson Hole, Wyoming, of all places, over the weekend, central bankers from the United States, Europe and Japan met to figure out what they could do to jump-start economies that are on life support.

Their solution: Ask their respective governments for help. In other words, they have run out of ideas and now face the prospect of chronic low-to-no economic growth, which is tantamount to perpetual recession and eventual global depression.

From The Associated Press, here is the nub of the issue:

Mired in a world of low growth, low inflation and low interest rates, officials from the Federal Reserve, Bank of Japan and the European Central Bank said their efforts to bolster the economy through monetary policy may falter unless elected leaders stepped forward with bold measures. These would range from immigration reform in Japan to structural changes to boost productivity and growth in the U.S. and Europe.

Without that, they said, it would be hard to convince markets and households that things will get better, and encourage the shift in mood many economists feel are needed to improve economic performance worldwide. During a Saturday session at the symposium, such a slump in expectations about inflation and about other aspects of the economy was cited as a central problem complicating central banks’ efforts to reach inflation targets and dimming prospects in Japan and Europe.

As is always the case with the governing elite, “immigration reform” is code for “let more immigrants in so industries and corporations can hire people for less money, thus jacking up profits.” For ordinary folk, however, “immigration reform” represents the gravest threat to their existence, for it prices them out of the labor force.

What the Leftist economic “experts” and elected officials in these nations don’t seem to understand is that corporate profits and rising stock markets do not equate to healthy economies. Only tens of millions of ordinary people, working jobs and contributing to/creating economic activity, actually make economies healthy. Demand soars, productivity increases, sales climb, government revenue increases and economic growth happens.

And the best way for governments to create this economic activity is to simply get out of the way and let this economic activity take place. That is, restore a true free market economy, one that taxes and regulates much less than today, and viola – these central bankers will have the growth they seek.

It wasn’t clear from the AP story exactly what these central bankers want their respective governments to do, but if what they seek hinges on “immigration reform,” then the effort has failed before it even begins.

The point is this: Great economies – like the kind that propelled the U.S. to the top of the world – are those with few government-imposed restrains. Government cannot “grow” economies; governments wreck economies with their rules, regulations, compliance costs and restrictions.

You’d think Ivy League-educated economists running central banks would automatically understand this. Apparently they don’t.

So voters must help them, not governments. The more left-wing socialism-minded “reformers” that are replaced with free-market conservatives on Election Day, the faster our economies will rebound. If you doubt this, then ask yourself why, after nearly eight years of Obama economic policy, our economy seems stuck at 1.5 percent growth, on average. If socialism and big government worked, wouldn’t economic growth be around 4, 5, 6 percent?

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