They've done it again! The republicans have this particular talent for acting on emotion and taking our country down. Their feelings are right - nobody felt good about Wall Street and all the pain its junk securities have brought to us. Their actions are wrong; they're willing to trash the country out of anger. I hope they get voted out in droves! But I also hope we find a reasonable way out of this mess before the economy tanks.
The fact is that we, the people, created this problem. We voted for the wrong people (deregulators), we let greed take over in too many households, we accepted government deficit spending, and we sat by and let the lobbyists own Washington. Now, we own it and we got to fix it. There are two ways to do that - the way of chaos and the way of workout. The republicans chose the way of chaos, and chaos is what they are getting - Dow down 777 points today! The only bright side is that it wasn't 666 points, which really would have set off those conservative Christian republicans.
Many ordinary citizens believe that the institutions and people left holding the bags of bad securities should just take their losses or even go under. Well, some of the banks already have, and more will. Some big investment firms have failed. Some foreign banks have failed. Nobody knows for certain what will follow, but Obama, McCain, and almost all the experts are worried that liquidity will dry up and paralyze routine interbank transactions. This could bring the world economy to a halt. But most republican congressmen think this would be just fine. They are ignoramusi! But Faux News loves them, bless their souls! The question is, will ordinary citizens love them by Christmas, or even election day?
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3 comments:
This reminds me of the Iraq invasion. By the time the people agitating for this (let those Wall St. honchos dig their own way out of this!) realize that they were wrong, there will be almost no good options left. Steering by using the rear view mirror.
I have no doubts Wall Street will ultimately get their money.
I expect a tiny bail out bill to be passed soon, just enough to keep things afloat until after the election. Once the election is over and the will of the people no longer has to be obeyed, they'll pass the big one.
LifeHiker, it isn't healthy to keep your emotions bottled up; how do you really feel about this?
Sarcastically Yours,
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