Unfortunately, Chairman Bernanke, President Obama and the Republican hope-to-be presidential candidates all fail to see that the overriding goal should be to broaden ownership of productive capital (the non-human factor of production or wealth creation) simultaneously with stimulating the economy with tax incentives and insured credit mechanisms provided by the Federal Reserve Bank. Without policies and programs to broaden ownership, the productive sector of the economy will continue to be owned by a powerful minority. Obama’s policies and proposals will further this result, and will do little to benefit the economic opportunity for the 99 percent to make a good living. As technological innovation exponentially displaces job opportunities as superautomation, automated factories, and other computer-controlled and operated processes accelerate, unemployment and underemployment will significantly worsen. Unless the American people can own in the economy’s future growth, the American dream will be dead. Current policies and those proposed perpetuate a “system” where investment is only based on savings and continue to shut out the poor and working and middle class people who are struggling to meet living needs. No where does President Obama or Chairman Bernanke advocate a reform of the “system” to support investment incentives that broadens ownership of productive capital.
http://www.latimes.com/business/la-fi-bernanke-economy-20120301,0,3412523.story
