You should be furious. Your government played a critical role in a financial collapse, yet is using the opportunity to give itself more power and control over those very same markets it destroyed.
This administration flat out refuses to allow the "creative destruction" of free markets to take place, which is making our economy into Weekend at Bernies 3, in which there is a house full of dead people that have to be moved around like puppets...ok pardon the metaphor, BUT these corporations are tied up in labor agreements and insurance agreements that are not sustainable.
The most scary part (if I use that phrase too often, it is because it is a scary time) is that under these new regulations, the US Government will now be able to designate the market "winners" as corporations that present a systemic risk. If they feel one of these corporations is in danger of failing, they will appoint a puppeteer to manage the new Bernie. We are turning our market into a zombie film. (More on that in a great WSJ editorial here.)
IT GETS WORSE. After a zombie is taken over, it basically becomes a government sponsored corporation. We all know how well those do (ahem, Freddie, Fannie, please stand up...you too Barney).
The problem right now is that we have a President that is asking "What can I do?" rather than "What should I do?" His motto was "Yes we can", so I guess I shouldn't be surprised...as long as that "we" does not include corporations, investors, consumers, workers, economists, Republicans, Independents, blue dog Democrats, you and I. All I know is, I would not want Obama as my doctor.
Speaking of which...we all know what's next.
It's always relaxing when someone else can take over the anger/fright role for a while.
ReplyDeleteBut after reading the AEI WSJ piece, I plan to step up efforts to pay off the house and get that vegetable garden going again. Cover basic necessities such as shelter and food. Have to be independent of the madness that is beyond control.