Interesting Times…

September 30, 2008

…or the beginning of the end?

A year ago, who would have thought that the USA, the land of believers in market forces and “we don’t want your stinking Commie universal healthcare” would be about to socialise a whole pile of private debt.  Well, it hasn’t happened yet, thanks to men like Senator Ted Poe: “Why is it, the bigger the business, the more the Federal Government thinks it should swoop in to save these incompetent business people?  Small businesses – mom and pop stores don’t get this break. When they make bad financial decisions, they go out of business.  But the rich and famous Wall Street New York City fat cats expect “Joe Six Pack” to buck it up and pay for all this nonsense.  Reward people for being irresponsible and expect responsible people to pay for the sins of the financial industry? I don’t think so.”

Brilliant stuff.  It’s interesting to read the wails of the pro bailout communities who decry that we don’t understand Wall Street economics and society as we know it is going to come crashing down, a trillion’s been wiped off the stock exchange and the average worker will suffer the consequences. I think they’re correct, but only partially.  It’s going to get very ugly.

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