Monday, September 29, 2008

On Our Tanking Economy

Much as, at this point, I would not vote for a Republican for dog catcher, they do seem to be learning from past mistakes…the Democrats’ past mistakes, that is…


Democratic house members are ready to jump right on the “gloom & doom” bandwagon, same as they did in 2003 when Bush fabricated the emergency that called us to war in Iraq.   Unfortunately, the Dems have been increasingly called on the carpet for voting to launch a war that has become expensive, unpopular, and obviously unwinnable.  All they can do is stammer and back-pedal when confronted about their “roll over and give up” act on the vote to go to war. 


Now, Bush and Co. are huffing and puffing about “the whole thing coming down,” referring to the economy that his unfettered wealthy and powerful friends have created with smoke and mirrors over the past seven years.  And the House Democrats are obediently falling into line behind Bush once again. While “Main Street America” riots in the streets about having to bail out the rich and mighty, the Dems have their heads shoved solidly…where the sun doesn’t shine, evidently.  What don’t they get about the fact that they are all up for reelection in a little more than a month?


Certainly this is the card that the House Republicans aim to play now:  They know Election Day is nearly upon us.  They know that they can rack up all kinds of political capital if they appear to stand with the outraged majority for the next 35 days or so.  Then, after the election is safely behind them and they have saved their asses, I mean, their seats, they can go back to screwing the middle class and shoveling money into the pockets of the rich—back to business as usual for the GOP.


I have a theory on our economic crisis…and with as complicated and inscrutable as economics seem to be, I think my theory is as valid as the next guy’s.  My theory is that Bush’s tenure in office has been all about making the rich and powerful richer and more powerful.  As they’ve been stuffing their pockets and building up invisible and untouchable assets, they’ve been blowing smoke at the American people in the form of tax breaks and “economic stimulus” checks.  Keeping the little guys appeased by shoving a few hundred bucks their way now and then…  It’s appalling, and it’s insulting, and it was always only a matter of time before “the whole thing [came] down.”  I’ve predicted several times in the past few months that we hadn’t yet seen the worst of what was going to happen as the Bush Watch drew to a close.  There was bound to be a last-minute money grab of historical proportions as Bush and his cohorts slunk out the door.  And so there has. 


I like to think that they thought they had it timed so that the whole house of cards would blow down on the next guy’s watch.  But, like everything else associated with the Bush Administration, it’s obvious that they…slightly miscalculated.  Surprise.


And now they will all go off and retire with their billions, while we try to find a way to dig our way out of this monumental pile of dung they intend to leave us buried in. 


Happy voting, folks. 


dsonney01 said...

Hopefully we can salvage something from the compost heap! Dannelle

mutualaide said...

I wish I had more time to think through my answer Lisa ... let me just say that this whole thing stinks like the dung it is and I am disgusted, disgruntled and po'd as much as the next 'guy'.  

I hate to think the world revolves around greed, but alas, I must wrap my head around that thought.  One billion or two is never enough and that is disgusting.  

Last week I overheard someone say we would have to watch our for a recession.  What out for?  Are you kidding?  I've been living in one for YEARS now.   Geeze Louise ... we need to watch out for the politicians.

sunflowerkat321 said...

I don't know why anyone would WANT to be president and inherit a mess like this.  What's painfully obvious to me is that the economic sector has to be heavily regulated.  I can't begin to imagine what is lurking within the books of these companies.

Twenty seven years ago, I worked at the now defunct Drexel Burnham Lambert.  I remember the day that the market first broke 1000...the excitement and the energy in that office.  I thought THAT was a historic day...naive little girl that I was.  Yesterday, I turned on the tv coincidentally, just at the vote ended....and watched the market fall 400 points in two minutes to hitting a loss of 700 points.  As much as this situation sucks, doing nothing....or waiting much longer to do something is not an option.  I abhore the idea of a bailout.  It also makes me furious that the administration let something like this happen by turning a blind eye to the industry.  But, we're really left with no choice.  To be angry and sickened by the bailout is one thing.  To do nothing is a much more dangerous gamble.

I think your theory has merit Lisa.  When you look at what's happened with big oil and the financial sector...certainly the rich have had a windfall.  And they're positioned to weather whatever financial crisis befalls us.  But I hate to think what the rest of us have in store if the whole thing crumbles.