a mess: ramblings
Sep. 16th, 2008 09:57 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
cellboyI have been glued to the TV since for the past few days, watching CNBC, CNN, NBC FOX.... from Maria to Glenn Beck, to Bill O'Riley. No strike that. I hate Bill O'Riley.
I may be wrong, but agree what has been said, it will take yrs to figure out, or at least admit (our politicians/govn't) what has happened to our economy. It is complicated, and there are many causes. many I do not understand. But here are my off the cuff thoughts:
1. Greed
2. Greed and brokering of sub-prime loans, where many have gotten rich. And that also includes, Democrats and Republicans alike. They may have also profited from this. Hence looked the other way. Remember Wall Street Execs and politicians do sleep with each other.
3. They (Govn't regulators) have been asleep at the wheel. Not motoring what was happening. That's also includes Dem and Reps.
4. Warnings of this happening has been forecast by many experts (that many did not want to hear) since the summer of 2007.
5. And the big problem = our debt. Sorta like maxing out your credit cards, then using other credit cards to make payments on existing tapped out credit cards. It gets out of control. Tax cuts of any kind, from either party is not the answer (but of course it is election yr, so this is always good bate for any incumbent). We just need to fiscally responsible, and tighten our belts.
6. For example, one of the biggest contributors to our debt is SSI and Medicare. They have not been adjusted for age, and income level for yrs. People are now living longer, since these programs were created. These are adding trillions to the debt. And of course the war does not help.
7. Just as a home budget, it hurts to tighten finances, but this may be in the long run the only solution for our future. The continued borrowing of money, from other countries, to pay our escalating debt is not always the best? We just get deeper and deeper into trouble. Eventually our world credit rating will be lowered. And see us as a bad investment. Not good :(
8. Like one declaring bankruptcy to clean the mess, maybe we need an economic collapse. Then start all over with a clean slate :(
I may be wrong, but agree what has been said, it will take yrs to figure out, or at least admit (our politicians/govn't) what has happened to our economy. It is complicated, and there are many causes. many I do not understand. But here are my off the cuff thoughts:
1. Greed
2. Greed and brokering of sub-prime loans, where many have gotten rich. And that also includes, Democrats and Republicans alike. They may have also profited from this. Hence looked the other way. Remember Wall Street Execs and politicians do sleep with each other.
3. They (Govn't regulators) have been asleep at the wheel. Not motoring what was happening. That's also includes Dem and Reps.
4. Warnings of this happening has been forecast by many experts (that many did not want to hear) since the summer of 2007.
5. And the big problem = our debt. Sorta like maxing out your credit cards, then using other credit cards to make payments on existing tapped out credit cards. It gets out of control. Tax cuts of any kind, from either party is not the answer (but of course it is election yr, so this is always good bate for any incumbent). We just need to fiscally responsible, and tighten our belts.
6. For example, one of the biggest contributors to our debt is SSI and Medicare. They have not been adjusted for age, and income level for yrs. People are now living longer, since these programs were created. These are adding trillions to the debt. And of course the war does not help.
7. Just as a home budget, it hurts to tighten finances, but this may be in the long run the only solution for our future. The continued borrowing of money, from other countries, to pay our escalating debt is not always the best? We just get deeper and deeper into trouble. Eventually our world credit rating will be lowered. And see us as a bad investment. Not good :(
8. Like one declaring bankruptcy to clean the mess, maybe we need an economic collapse. Then start all over with a clean slate :(
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no subject
Date: 2008-09-17 12:42 pm (UTC)Any company's raison d'être is to make money. Apparently, by any means necessary. And, that seems to mean that if you "cook the books", that's ok, because by the time it's discovered, you'll be retired and no one is ever held accountable anyway.
Do well, get a bonus. Screw up, get a bonus. Oh, and we pay for those bonuses by laying off workers, closing down plants, moving production overseas and outsourcing everything.