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So Much For Letting The Free Market Rule
| Good [+1]Toggle ReplyLink» databoy replied on Sun Nov 30, 2008 @ 5:39pm |
 Coolness: 107040 | Hear that humming sound? That's the printing presses at the United States Treasury running 24 hours a day, seven days a week, churning out an ocean of green paper to bail out the billionaire bankers, brokers and assorted brigands who are responsible for the economic disaster that's befallen us.
They're busy running off $3.7 trillion in bailout money for those who don't deserve it. It's a Happy Thanksgiving and a Merry Christmas to the very pirates whose greed got us, and them, in all the trouble. Isn't capitalism grand? We're daily treated to the spectacle of the fading remnants of a Republican administration working 24/7 to dump the tax money of hard-working Americans into the leaky coffers of the robber barons. These are the same Republicans who've been telling us for eight years that we needed to get government out of the business of big business. Let the market decide, they crowed; it's more efficient. Get rid of all those pesky federal regulators, by hook or by crook, and everything will come up roses. Well, the market decided. It decided that the whole thing was a Ponzi scheme, worth about as much as a three-legged mule. It decided that those who'd cooked up all these derivatives based on bundles of bad mortgages were broke. Likewise for all the poor suckers worldwide who'd bought those bundles of joy. Suddenly all those free market barons are pushing and shoving to get into the line for a government handout - the corporate equivalent of food stamps and welfare checks. We're treated to the spectacle of a treasury secretary, Henry Paulson, whose statements and declarations are no longer operative by the time they leave his lips. With nearly two months to go before Barack Obama is sworn in as president of the United States, the man he'll replace, George W. Bush, has virtually disappeared. Not that this is necessarily a bad thing. But it begs the question: Who IS running the railroad? The stock market reacts positively to even an off-hand remark by Mr. Obama, and it's positively giddy when... [ www.commondreams.org ] by Joseph L. Galloway © 2008 McClatchy Newspapers |
| I'm feeling love right now.. | |
| Good [+1]Toggle ReplyLink» basdini replied on Sun Nov 30, 2008 @ 7:10pm |
 Coolness: 146125 | it's weird, because most americans don't really get it, they think that the money for the bail out is comming from some huge bank account america has for rainy days, when you try to explain to them that to do the bail out america has basically gone into debt another 4 trillion dollars...they don't really understand that this is basically a gigantic tax on a segment of the population who is not represented, ie future generations...
here are some of my suggestions for fixing the US economy 1) balance the budget, how long has it been since we had one of those, 7-8 years, and before that since beforethe war i think, it's time to get serious on this, when did not balencing the budget become ok? The republicans can never say a thing about tax and spend liberals again, because they have become borrow and spend mis managers... 2) end the war in iraq it's time to leave iraq, they have have done all we can do there, i'm not suggesting that as obama takes the presidental oath we pull out faster than a an olympic runner but we need to get out, that means a plan to realisticaly draw down forces in the next 2 years, the iraq war, and most people don't grasp this, was very expensive and was entirely paid for by debt, it was also the first war in the history of civilization that occured at the same time as a tax cut, think about that. 3) the 'R' word. Nobody wants to admit it but time to start talking about it, that is REGULATION, everyone wants to believe that the market can be self regulating but as the bail out shows when it comes time to pay the consequences of an entirely free economy, everyone of the people who lost out in the game comes like a university student to his parents when they break the bank, and then after mommy and daddy (the tax payer) have refilled the coffers they have the nerve to say that they aren't going to be held to any conditions on how it's spent or have any future oversight in the form of regulation. Why have the nations in europe and also canada had less exposure to the contagion in the markets? Because they have sharper and swifter regulatory agencies in place, the SEC should hang its head in shame. 4) the trade deficit This has to end, the US trade deficit has been well above 300 billion a year for the last few years. Most of this money is to China,and there is nothing with that, in of it self, however ask yourself what does the us produce? The US' economy is so out of wack, they produce nothing and buy everything, how can this work. If you look at the world economy as an island with a bunch of people living on it with everyone on it doing a job (someone's collecting fire wood, someones fishing etc, etc) the americans job would be to eat. At night thay all sit down, america eats a lot and throws the scraps to the rest when it's done. An economist would say that american is essential to this economy because without him no one would have work, but we all know better than this. What besides weapons does america really produce anymore, the only other thing america produces is software and they are being undercut by cheaper competitors like india. America produces so very little in the way of goods...what happend here america used to be the workshop of the world now they buy everything, how can this go on. anyway when the rioting starts they'll impose martial law and we will be a hop, skip and a jump away from a fascist dictatorship |
| I'm feeling surly right now.. | |
So Much For Letting The Free Market Rule
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