Thursday, August 6, 2009

Rioters in $2000 suits and real people who long for a bigger clunker to live in

Another business day closes and another 4000 American families have filed for Bankruptcy, 60% for medical costs and ¾ or them had insurance. You need to be relatively affluent to file for Bankruptcy, the really poor don’t have the fees needed and must simply dodge their creditors. People living their economy cars could probably use one of the SUV’s traded in as clunkers for one that get a couple of miles better gas mileage but they all get crushed.

New Unemployment claims were down but the number of people on extended benefits increased by twice as that much. This even though the number of people whose benefits have run out gets bigger each week. Jobs continue to disappear and you rarely hear of hiring unless the local news shows the thousands of people standing in line for a handful of jobs.

Are you one of the rare businessmen that could create some jobs, good luck getting a loan. The banks are still frozen after nearly a year. Bush was telling Congressmen that if the banks weren’t unfrozen that Martial Law would be inevitable. Trillions of dollars later the large banks are reporting record profits and executive bonuses and the small banks are going under at an ever increasing rate but new lending is rare.

We had to save the large banks because that’s where people in Bush’s neighborhood put their money and they would have been wiped out. I guess he was afraid the National Guard wouldn’t be able to handle all the rioters in $2000 suits. You can’t blame the little smirking chimp, these are all the people he knows (the servants are invisible), he probably thinks there are a lot of his people. In the real world people would like to upgrade their home by getting their hands on a larger "clunker" to live in.

3 comments:

William_Shatner said...

It's hard to comment on your posts because you nail the issue so well.

I'm for the Cash for Clunkers program -- but only because it's the smallest sliver of a nod towards public works projects.

Either people in Washington, are just cowed in shock and are desperately trying to pretend that the status quo can go back to the normal corruption, and the revolving door with regulators getting 7 figure "consulting" jobs with the businesses they regulate -- or this is a willful betrayal of the public trust.

NOT the Cash for Clunkers program mind you -- I'm sure the Automotive lobbyists didn't want more used cars around and this was the compromise. The public trust is being abused by the Banks. Of course the Big banks are going to swallow up all the Small banks. It's another example of disaster capitalism. If we let this process continue, then we might as well call it the United States of Chase Bank under Goldman Sacks.

The people who robbed us are in charge of cleaning up the mess. And they recommend things that help them -- because helping THEM is what brings prosperity. At least that could be the honest view of people lining their pockets.

>> I'm leaning more and more every day, to the belief that it's better that the whole dollar system collapses, because those with the most, most likely stole it. Call a Jubilee, cancel all debts and start over with whatever is in your possession.

How can banks and holders of wealth disagree -- they are all pretending to have more liabilities than assets?

The stock market will have a momentary holiday, and each time, it allows the big players to get more of their dollars out, and more of our dollars in. We are investing in the Titanic when we should be purchasing life preservers.

civic literacy said...

I agree with W_S on the C4C program... those cars are taken apart and parts resold, after being reurbished, which presumable creates jobs and certainly helps money flow, which is how an economy flourishes.
Bush was horrible, but why are you talking about him here, when Obama is in the WH, and perpetuating the same economic policies as Bush? I feel like with Obama, we finally got the "compassionate conservative" that Dumbya promised us 8 years ago.

prairie2 said...

I talk about everybody that has had any effect on where we are now. It is too early to know if Obama is doing the right thing or not. I can see where what he is doing might make sense in the long run. The history of this mess goes back generations. Shrub had very little to do with it except that he dove in with both feet. We're lucky he was a coward or we'd be under martial law now.