In the world today we have a complete failure of economics because the US has been scamming the world and selling worthless paper. Blame wall street, the banks, the SEC, home flippers, agents and the various other players in a financial game that went unchecked and unguarded because the perceived risk did not outweigh the reward. (It never does) Lots of people made lots of money while we had a lack of oversight. Now taxpayers have to foot the bill for their extravagance. The government has tough choices to make, always will. Market forces should be allowed to play out as they will, government cannot force confidence back in on the system. Fool me once shame on you, fool me twice shame on me! They have bitten the hand that fed them, we will be far more skeptical now, than ever. No amount of government money tossed to these wasteful greedy corporations will make people invest with them. Ever. Trust is lost. Tangible things like gold become favored over “papers or notes” for investing. People come to value other things.
When the government proclaims they prefer that Americans pay their mortgages and reduce debts and save money, and in the same breath allows this leeching of the nations economics system happen… how dare they approach taxpayers asking to give even more money to the same groups who sucked up all their other money the first time around and still failed to provide stability for themselves or their customers. No one forced these companies to exist; they took up their business with full knowledge of the work they intended on doing. Unfortunately the last administration was asleep at the wheel and loads of bad “things” happened. Most unfortunate was the loss of consumer protections. Triple A rating, really? Beyond this segment, consumer protections in loans and credit have vanished. Until the laws change to protect the consumer, we as consumers are foolish to do business or hold assets with them. People can survive without money, trade and barter become efficient transactions whose benefits include connections amongst the community. The government should get out of the business of banking and get into the business of regulation.
The three basic tenants of our government are the people’s right to life, liberty and the pursuit of happiness. Life is clearly the basics you learned about in grade school. Liberty is freedom and a tolerance for peoples wants. The Pursuit of Happiness is love, everyone has a right to love and be loved. The first word is LIFE because without life- liberty and happiness are mute. Currently money is washed all over government budgets in some areas that seem ill chosen and frivolous. The government should protect the people’s needs as the foundation of their relationship and only support the peoples wants as it can afford. In other words, taxpayer money spent on a marine research outpost or new skate park should only be spent if the people’s basic needs are being met. LIFE boils down to affordable food and water, affordable shelter and affordable medical access. Let’s start there! You could make a case for all sorts of other needs (like education, art, energy etc); I am talking strictly biological life needs. I am not advocating that the government should be responsible to keep all its citizens alive, they should, however be making sure that the market place provides AFFORDABLE access to life’s basics as well as support and care for the old & young who have no one to care for them. That seems reasonable to me. And these should be the only items considered for stimulus. Any other “need” is ill timed. This is not a Mardi gras cash party, it is a survivalist workshop, get it straight please!
Governments are put together for, by and of the people. Yes we are in fact a republic, but a democratic one. Public opinion has always swayed the powers that be, but I don’t know that our government really understands what has happened or how we feel. Do they really understand the anger created from this gross preventable failure? Are we not shamed on the world stage? I hope the DC machine of it all does not keep Obama from seeing what the real truth is in the whole of the country. I have to say I am scared about Tim G. in the treasury, I think his interest is conflicted.