Economics of Mass Destruction

I guess I feel like most other Americans today angry and suspicious. I have been blessed enough to know that my family will weather this economic storm, but I am worried about my employees and for the most vulnerable in our society. I am worried that people will be so preoccupied with their own bank accounts that we will forget to look after the welfare of people who have less or nothing at all.

One way or another, the guys on Wall St. and on Pennsylvania Ave. will get taken care of – they can just write each other checks from our accounts. We should be angry about what is happening with this economic bail-out. We (apparently) should be worried about our own finances and future as well. However, I think the right kind of anger is not focused on self-interest but on the effect this crisis and bail-out will have on the people who can least afford it.

And the hell of it is that we can’t even be sure there is a real or fabricated crisis! After all, when was the last time that President Bush spoke to the country about a disaster that was at our doorstep unless we acted immediately? Iraq – and that not only turned out to be a fraud but a disaster afterward.

Perhaps I am a bit cynical about the impending economic Armageddon, or rather the proposed solution being discussed in Washington, but doesn’t it seem strange – even a bit suspicious? Here are some questions I would like answered.

  • 1. Why should we trust Secretary Paulson to have absolute power to spend $700 billion of our money, when he didn’t even see this disaster coming down the tracks until it was already here?
  • 2. Is there anything – anything else in this Country that the Republicans can screw up?

When Bush became President, we had the highest rate of employment in decades and the largest budget SURPLUS. The economy was the best seen since the end of WWII. Now we have a record deficit which will exponentially increase the lowest rate of employment since the 1950’s and an economy that can “meltdown” in days!

We are less safe as a Country compared to eight years ago, less respected abroad and even our traditional allies are much less cooperative. Europe has become the center of science and education, India and China the center of Commerce – even Iraq has a better economy and a budget surplus!

The only recourse we have and the only healthy focus of our anger has to be the ballot box and our willingness to look out for each other.

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2 Responses to Economics of Mass Destruction

  1. What angers me even more is that Lehman Brothers was hung out to dry and yet Bear Stearns get bailed out. Why? because Paulson used to be a co CEO of Bear Stearns. Where is the justice in that? what about all the people who lost their jobs at Lehman who will bail them out? I guess Wall Street finally understands that greed is NOT good!

  2. InYourFaceNewYorker says:

    Bet when you wrote this three years ago you didn’t anticipate just how bad it would get, that we’d have the worst economy since the Great Depression and people are so desperate that they are doing everything short of hopping trains. Though I admit I would go on such a power trip if I could do that. It would be the ultimate adrenalin rush. 😉

    J

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