I’ve been thinking about how the United States is handling the recent financial crisis and I have to say that I think that We’ve done a very poor job. Sure, our current situation was brought about by the Republican tenet of smaller government, but now it seems that the pendulum has swung too far the other way. Bailing out these companies is socialistic, and this is not what a free market economy does. It saddens me that America’s first foray into socialism was not to help our sickest and poorest citizens by providing universal healthcare, but to assist reckless for profit corporations avert their Darwinian fates. This is shameful!

Now I’m not saying that a full-on financial collapse would be a good thing, but all we’re doing here is prolonging the inevitable by helping these companies limp along a while longer, stretching out this new kind of recession we’re in through the likes of inorganically infusing cash into the system with rebate checks, and promoting inflation by keeping the Prime Rate ridiculously low and possibly even slashing it further. All of this is patently irresponsible and will come back to hurt us in the years to come. So instead of letting it fail and dealing with what we created like responsible adults, we’re passing it on to our children. We’re publicly financing universal corporate care at the expense of universal healthcare… What a legacy.

Way to prove that we really are in fact, capitalist pigs.

~ by Woeful on September 18, 2008.

8 Responses to “Dispicable”

  1. It’ll be a long time until the U.S. can present a rational argument for exporting Capitalism.

  2. Actually they should be allowed to collapse. Let them suffer the consequences of their “free market, government stay out and no rules” existence. Especially since all the bailout does is, as you point out, extend the eventual agony. Besides, I don’t see the gov rushing to give me any money to bail me out, and I sure can use it more than those pillaging CEO’s. But you know the “people” will probably vote for those morons AGAIN. I mean, the polls are close? What kind of damage do Repubs have to do before it finally becomes a no-brainer, we need to vote them out now, period? Hoovervilles again maybe?

  3. Oh I think we should just open the Haliburton vaults, that is where all the national cash is sitting.

  4. The cash certainly isn’t here.

  5. Gee, some days being a struggling artist does not look that bad.

  6. It’s very ugly. People from all walks of life lost a lot of money. That said, like I’ve been writing recently, if you have some cash there has never been a better time than right now to buy stock in solid companies. It’s like a Blue Light Special out there. I have but one investment regret, I lament that I bought Corning one day too early. I could have made a quick killing. The good news is that I intend to hold Corning into my retirement anyway and what I payed will look cheap long before then… It’s just greed talking baby! 😉

  7. F!ck. Should I run out right now and withdraw all of my savings in cash?

    ‘It saddens me that America’s first foray into socialism was not to help our sickest and poorest citizens by providing universal healthcare, but to assist reckless for profit corporations avert their Darwinian fate’

    Put beautifully. BTW, not to nitpick, but did is that an alternate way to spell dispicable?

  8. Is that not how I spelled it, I’ve been very scotch laden as of late… My bad perhaps?

    Anyway, I implore you, DO NOT take your money out of the Market. It will recover, it ALWAYS does within a year or two. The only people who are fucked are the people who need the money today, and since you Stiletto are far too young to need the money today you are golden! When the Market rebounds in 15-18 months it should be a VERY impressive bull. Then if you want, redistribute your money, but until then hold tight. The only thing that might bite you on that beautiful ass of yours is if you keep all your assets in one basket. This is a very bad idea, think Enron… Or AIG!

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