The U.S. economy is too reliant on consumers, according to White House economic advisor Paul Volcker. He told President Barack Obama on Monday that trimming our dependence on the consumer could come in the form of boosting exports, enhancing the national infrastructure and investing in green technology. Volcker, who used to be chairman of the Federal Reserve, believes that with consumer spending responsible for 70% of the U.S. economy, it requires “the magic of financial engineering” to keep it afloat. Simply, he said, “We cannot have so much consumption.”
If we try to rebuild the economy in its previous image, Volcker believes, “It will just break down again,” he told a global financial conference in Naples, Florida.
While we’ve been worried about missile launches and “satellite” attempts, North Korea’s real action has been closer to Earth. The DPRK regime is accused of initiating high-profile cyber-attacks, causing internet outages in the United States and South Korea. The IP address, better than a fingerprint in this case, points back to North Korea’s Ministry of Post and Telecommunications, according to the chief of South Korea’s top spy agency. China leases the IP address to the DPRK military, according to JoongAng Ilbo and Yonhap news agency, both media outlets in South Korea.
You may not always like the message, but the voice is inextricably linked with one of protest and defiance. There is always something interesting going on right across the street from the White House, and whether you like what they’re saying or not, it’s democracy in action.
The protest I saw going on when I was in Washington, DC last seemed a bit over the top for me, but shine on you crazy diamond!!! Your practicing democracy; you’re not just talking about it!
I’m not a big fan of extremist positions, but I’d much rather they be heard than not. I do rely on the American people to soft between the nutjobs (like this guy) and rational political discourse. Maybe that’s wishful thinking, but let me have my fantasy.