I would like to share with you and your readers something concerning why America’s economy is so bad and why the Swedish economy is so good.
Sweden’s government did the exact opposite of every other Western government when the present world economy collapsed — they stimulated private ownership and they reduced government spending, taxes and debt. As a result, their unemployment was a low 4.1 percent in June (last month) up from 3.8 percent in May.
Our unemployment in the United States today is 9.2. Are the Swedish smarter than Americans?
It is not rocket science to understand why the two economies went in different directions. When the market collapsed, our federal government did everything wrong. They stimulated banks and unions to the detriment of private business, they increased spending by growing government by 25 percent, they increased debt dramatically and even now propose to increase taxes and expand the debt ceiling.
Another example of a country on the move is China. They have adopted capitalism and have made it relatively easy for companies to make products and services, which increase jobs for their people and their economy. Such is the way of the very creation of wealth.
While here in America, those who produce products and services and provide jobs are depicted in some media as being the enemy of the people. They are sometimes reported as being rich and greedy and need to have their taxes increased.
Also, the government has chosen to redistribute their wealth rather than getting out of the way and letting them create wealth — which is something businesses can do very well. It is little wonder that many corporations move to other countries to conduct their operations, which also takes their production of wealth and jobs away from America.
It is indeed heartbreaking to witness the progressive demise of our once great economy! The solution is so very simple that I sometimes wonder if our economic condition is deliberate!
F.W. “Bill” Stamos