Wednesday, October 29, 2008

What Happens Next?

Tonight is the big night for Obamamercials! So important is he, it's pre-empting the beginning of the World Series game! If I had a TV, I suppose I would be spending 30 minutes of my life watching him not tell us more. And I suppose if I had a TV I could be watching Sarah P. trash Obama while her supporters say she's being picked on. I guess if I had a TV I could be watching all sorts of things that would raise my blood pressure, increase stomach acid or affect my heart rate, but not to worry, last I saw of TV, there are plenty of pharmaceuticals advertised.
I read today that the banks are really accepting these governmental funds, not to loosen lending to help "we the people" but rather to have the funds to buy troubled institutions at a bargain rate. I just heard the interest rate has been reduced once again. What is this the 4th or 12th solution for home buyers facing foreclosure? Why not just declare a big "DO OVER?" Instead of starting on Wall Street and then spreading the wealth, why don't we just discount everything in America by 25% from the inflated loans to inflated stock values? Rather than more tax dollars thrown at things, after we declare a 25% deflation at the grocery store and the gas pumps, let's reduce wages and see if some of these small business owners can't keep their doors open without credit to pay their crew? Why don't we just declare America solvent at the value things should really be and dust ourselves off and really get started, rather than make another false bottom that is only going to give way? Whether it's a new resident in the White House or more credit at reduced rates, the problem with basing our solutions on remedies outside of our control is the fact that no one has to take ownership of the problem. More credit will not stabilize the economy. Credit is not the backbone of any economy and if it continues to be presented to be the solution, the economy will never be solvent. Gasoline prices have dropped dramatically! That is the best thing this campaign has produced, so far! I read that OPEC is thinking of cutting back production to increase demand. Big surprise, I was expecting prices to go up after the elections with our without OPEC doing anything.
Now that Wall Street is on welfare, what will America's class distinctions be based upon? The big banks are taking government funding to devour the smaller banks that are not eligible for the bail out and that is going to produce nothing but one centralized bank, ultimately. I'm sure that's a big surprise!
Basically when the term "tanked" is used to describe the economy, it means we are sunk. And as the USS Americredit sinks, next Tuesday we are going to decide which way we lean as we plummet.
A TARP (Troubled Asset Relief Program) a.k.a. "Corporate Welfare" won't help a sinking ship, and the Captain and Crew have already bailed . . . They've thrown our money and life savings at it, and as of November 4, many of them are about to abandon ship!
He that trusteth in his riches shall fall . . . a Proverb of Holy Scripture

No comments:

Blog Archive