ONGOING FINANCIAL CRISIS
The downturn is proceeding ominously.No one seems to know just what the solution is. So far the huge "bailouts" for banks and insurance companies has not produced any noticeable effect. What becomes painfully obvious is the interconnectedness of it all.
A common objective most often mentioned is "getting the credit flow going again". This is akin to when one sleeps on an arm and it goes numb from lack of circulation. Once the pressure is removed the tingling begins and the arm returns to normal activity.
In the present instance the problem is a toxicity. It is almost as if gangrene has set in. In many instances the only remedy is amputation. The pure capitalist course is to accept the results of the risk taken and live by the consequences. Sounds simple enough but apparently there is too much else at stake. Can't understand just what all that is but the powers that be feel the necessity for sparing the malefactors.
On the sidelines, definitely still smarting from the bruises of the election, sit the disgruntled Republicans. Their only mantra is "cut taxes". Other than that there has not been a single positive suggestion. Interestingly they register shock at running up the deficit. Must be they thought that was their prerogative exclusively.
Boehner, the spokesman, continually carps at wht ever is proposed.
Meanwhile, in Washington, at a great gathering of "conservatives", the self proclaimed guru ("successor to Bill Buckley"), held forth for twice his allotted time to exhort the gathering to obstruct in every way possible, President of the United States Obama's proposals. This most unAmerican diatribe was greeted with applause and hoots of glee. It is a sad commentary on the depths to which the proud Republican Party has fallen. There are few, if any, moderate Republicans left. The neo-con infection is still ravening the fragile psyche of the non-Liberals.
The most ridiculous charade of all is to cast the current recovery program as a Socialist plot to destroy the country. Ironically it has been the Republicans who initially nationalized the banks when the crisis broke. Bush and Paulson went pall
mall to the Treasury to rescue the banks and Wall Street. Hypocrisy is certainly not alien to politics and it is brazenly employed by both parties.
My optimistic hope is that time will bring about the needed resolution of the current mess.
The downturn is proceeding ominously.No one seems to know just what the solution is. So far the huge "bailouts" for banks and insurance companies has not produced any noticeable effect. What becomes painfully obvious is the interconnectedness of it all.
A common objective most often mentioned is "getting the credit flow going again". This is akin to when one sleeps on an arm and it goes numb from lack of circulation. Once the pressure is removed the tingling begins and the arm returns to normal activity.
In the present instance the problem is a toxicity. It is almost as if gangrene has set in. In many instances the only remedy is amputation. The pure capitalist course is to accept the results of the risk taken and live by the consequences. Sounds simple enough but apparently there is too much else at stake. Can't understand just what all that is but the powers that be feel the necessity for sparing the malefactors.
On the sidelines, definitely still smarting from the bruises of the election, sit the disgruntled Republicans. Their only mantra is "cut taxes". Other than that there has not been a single positive suggestion. Interestingly they register shock at running up the deficit. Must be they thought that was their prerogative exclusively.
Boehner, the spokesman, continually carps at wht ever is proposed.
Meanwhile, in Washington, at a great gathering of "conservatives", the self proclaimed guru ("successor to Bill Buckley"), held forth for twice his allotted time to exhort the gathering to obstruct in every way possible, President of the United States Obama's proposals. This most unAmerican diatribe was greeted with applause and hoots of glee. It is a sad commentary on the depths to which the proud Republican Party has fallen. There are few, if any, moderate Republicans left. The neo-con infection is still ravening the fragile psyche of the non-Liberals.
The most ridiculous charade of all is to cast the current recovery program as a Socialist plot to destroy the country. Ironically it has been the Republicans who initially nationalized the banks when the crisis broke. Bush and Paulson went pall
mall to the Treasury to rescue the banks and Wall Street. Hypocrisy is certainly not alien to politics and it is brazenly employed by both parties.
My optimistic hope is that time will bring about the needed resolution of the current mess.
posted by Don.B. | 4:56 PM
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