If the idiots in Congress let the people who brought us the ineffectual response to Katrina, the endless waste of money and lives that is the war of terror on Iraq, and the squandering of the biggest budget surplus we've seen in our lifetimes handle this current crisis in the financial markets without any oversight then it's sheer madness. When Bush and his conservative cronies finally cause our economy to collapse, it's not going to be pretty. We'll all look like this guy in this Jack Kirby comic book panel:
This bail out MUST include help for the millions of hard working Americans who lost their homes after being given a bad loan by the banks who now cry for our tax dollars to save them. We've also got to address the root causes of the problems that led us here in the first place, deregulation of the banking industry and the insatiable greed of Wall Street and corporations. I'm a student of history and this current financial crisis stuff sounds a lot like what was said right before the Great Depression hit and it sounds like the talk that preceeded most every financial crisis that hit the USA in the 19th century. I hope we're not stupid enough to let history repeat itself again.
9 comments:
I haven't really started to look at the "bailout" yet. I just can't get my head around it. Here's what gets me:
Bush is calling for a 700 billion aid package, right?
Where is this money supposed to come from? I think, if I recall correctly, that the first Bush tax cut (the one that wiped out the Clinton surplus BEFORE 911) was for something in the neighborhood of 500 or 600 billion.
You wipe out a $120+ billion surplus, cause a huge deficit, launch an ungodly expensive war, and continue to cut taxes?!? How is this supposed to be paid for?
EXACTLY - and anyone who I have asked this question blames it on the 'wasteful' spending of the Democratic Party.
Uh, yeah.
China will happily lend us more. And I'm sure Dubai would love to buy a few Washington DC landmarks for their collection.
Hells bells, I already look like that picture. Now what?
When Venezuela does this, it is called "nationalizing", and is considered an affront to democracy. I guess it all goes with the new "new math". 119 days and counting...
hmmm... spending a trill of cash we don't have... sounds like we're gonna have a fun time printing fresh greenbacks folks... $8 milk, here we come!!!
Oh, we're stupid enough, Monkey. At least this government is stupid enough, anyway. This whole bailout is fucking ridiculous. Snad's point is right-on: why don't we just call ourselves the USSR and get it over with?
Sad thing is that people were warning about this for awhile now.
They predicted this meltdown and now it's happening
It's just like people are now predicting environmental devastation but politicians and self-interested people won't listen.
I think I've pointed you to Clusterfucknation, James Knustler's blog and books.
http://jameshowardkunstler.typepad.com./
Another example of how the Bush/Cheney regime wants to give all the money to their rich pals.
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