JosephThePoet's Blog

Once again politicians are catering to their greed and corruption. Again they have proven they do not have the intelligence or ability to lead the escape from an open wet paper bag. Their only concern is for their own near term perceived benefit which is to ensure they can get some more money for their next election bid from the biggest and greediest of corporations that they have proven they will cater to. Of course if they get thrown out of office they can always count on those companies to hire them as lobbyists or figureheads then, right?

The politicians helped the big companies move their manufacturing to countries like China so they could make a bigger profit by not having the concerns of paying people larger salaries or having the environmental and other costs that are required in the US, with of course no concern for the loss of in-country created wealth or the many people who would become unemployed and the affect this reality would have on the country as a whole. At the same time they allowed unrestrained capitalism to run rampant and greedily through the financial markets which allowed for the sale of massive numbers of bad loans of a type that guaranteed a high percentage failure rate but quick near term profits to the greedy banks and financial institutions. So they set up the situation of a massive loss of created income and employment in the country, and the failure of massive numbers of home mortgage loans that were widely promoted without concern for the eventual results to the country. Unemployed people cannot but homes, pay mortgages, or otherwise support a country that relies on consumerism for its economic engine. So here we are with large numbers of unemployed or underemployed people, the extreme numbers of failed bad mortgages, the massive loss of home sales and home value losses from those factors, and now tight financial markets. Duh, what a surprise!

Earlier this year US politicians threw a $160 Billion “economic stimulation package” around to buy the favour of the public, and they promoted it as being a bipartisan effort to pretend that it must be a good thing if they could all agree on it. The economy was under threat and they were using their vast collective intelligence to fix it you see.

Recently they scattered around a few hundred $Billion to bail out some financial institutions that failed when their greed caught up to them. And now they have decided to scatter at least $700 Billion more around in a bailout package to insure the greedy arrogant bankers, who have brought their banks to the brink of bankruptcy, can get access to more money to loan to us if they choose to do so. We are told the reason they must do this is because the money markets are tight due to the many bad loans the bankers wrote so we have to give them access to more money to make it easier for everyone to get loans from them again. The politicians say the economy is under a massive threat and we will all suffer if they don’t act fast and aggressively and they are working in a bipartisan effort to use their great collective intelligence to once again protect us from an economic threat of massive proportions.

The majority of people in the country are employed by small businesses but the politicians get their big money for their election campaigns and retirement opportunities from the big businesses so they cater to them, and of course to the extremely wealthy who want big profits regardless of the consequences to others or the country. They could have chosen to spend any of the above mentioned money to promote new business activity and the production of new jobs while also promoting the energy security of the US, but they have instead chosen to purchase temporary voter favour and to prop up the greediest in the banking and financial institutions at the severe threat to the country being able to survive into the future.

The politician’s current claim is that they have no choice because the country would melt down if they didn’t do anything so it’s to protect us peons. I don’t believe anyone was suggesting they do nothing, but you’d think that with all those great leader brains working in a bipartisan way in Washington that they’d be able to think of something that would actually encourage economic growth and the future of the country not just pile on an additional massive amount of debt to the determent of the country.

Instead of wasting all the above spoken of money, the politicians could have chosen to do a few simple things like these:

1) Invest in the re-employment of the masses through many in-country projects that promote the protection of the country’s current and future energy needs, and that also promote the protection of our inherited technological advantage.

2) Change the rules governing when a bank is bankrupt, if necessary, so they can’t withhold people’s money or recklessly stop giving their good business customers temporary payroll loans.

3) Buy bankrupt banks at bankruptcy rates, use the FDIC for its intended purpose, and inject funds to keep the bank liquid and functioning until it can be resold at a profit to the private sector. Of course, fire the top greedy scum and retain the regular employee to do the work.

Of course those are just the immediate needs as changing governing regulations in the banking and financial industries have to be addressed too.

I don’t think it makes any sense what-so-ever to increase the country’s debt without also addressing the need for the creation of new in-country wealth to pay for it, and the equally important need to put the people of the US consumer driven economy back to work in an intelligent manner that promotes a more secure future for the country.

Copy this and e-mail it to others if you agree with it, like maybe your political representative. Who knows maybe something positive will happen.

JosephThePoet