JosephThePoet's Blog

What a surprise to see the $700Billion bailout rejected.  I guess their fear of not being re-elected had an affect to temper their panic and arrogance.

What course will they pursue now though?  Will they just resort to more arm twisting, and incentive offerings, to again try to pass it instead of taking a time off and finding a more sensible approach to protecting the economy?

Many of the politicians still do not grasp the need to encourage the intelligent re-employment of the people for the economic protection of the country.  The people are the economic engine of the US consumer driven economy and if ignored the economy will fail.  You cannot ignore changing the oil in your vehicle engine and expect the motor will not eventually fail, nor can you remove parts from the engine or not replace failed parts of the engine and expect it will continue to function.  The removal of such a massive number of jobs from such a structured economy, by itself, was a recipe for disaster.  The greedy bad mortgage loans just speeded up the inevitable.  A solid and growing employment and new business base would have reduced the effects of the bad loans scandal.  Add in the fact that employed people get bank loans and buy everything, including Wall Street stocks, and that additional companies created by the right economic promotion will also contribute to increased equity created in-country and also additional Wall Street stock opportunities.  New business and employment growth creates new equity and promotes the free flow of capital.