Monday, August 30, 2010
Sunday, August 29, 2010
Who Really Is To blame?
The Fed did a lot to create this financial crisis by pushing for a deregulated market during the Clinton admin, happily celebrated and promoted by Clinton, as he cheered Wall Street on... happily pushed even further by Bush then even further by Obama.
The Fed did, during Bush and Obama, push for Fed assistance to so called "banks too big to fail".
Loans to unqualified recipients were pushed by Fannie & Freddie, pushed on by every admin no matter their Party. Without fail, those unqualified accepted those loans; the claim by too many of not knowing anybody is a claim to not knowing simple arithmetic.
Bailouts began with Bush and continued under Obama despite public outcry to stop and the appearance of promise by Obama, to stop it, though he was surrounded by former employees of said banks.
At this moment the unemployment rate is climbing, acknowledged by Obama. Stimulus did help for awhile but also increased debt and in the end will do nothing because the response from those receiving stimulus wasn't what was expected. Public and private recipients of federal funds are doing what you should expect from those in a panic; hoarding. They're all hoarding the cash sprung from our taxes.
The claim by Republicans and Conservative Dems is that Government can't and shouldn't create jobs though left wing Dems believe otherwise. Gov't can do a lot to create jobs that can't be construed as welfare, but so far haven't done anything of substance that will last. First thing and every American I know who discusses it with me states it simply; this country's infrastructure needs a lot of work and so far, as previous admins have responded, nothing has been done. The most obvious way to get people working is to repair infrastructure. To all the rest of us Americans that seems obvious. Put the money and work and the solution in the hands of those who will benefit most from it. Instead of trusting bankers to take our tax dollars and churn them through the economy the smartest way would be to create jobs for those who need it, pay those who most need and do most to contribute, to do what is most needed, repair the American infrastructure, increasing confidence in American people for they, with their own hands, will make things right. Americans will save more of it than they used to considering the fact that most Americans in the last 30yrs have not, but many will just as quickly spend that money, doing what the banks aren't doing, putting it through the system, through the engines of economy. Instead of creating money from thin air, create money from the real value of employment. Both sides argue about value or lack thereof in the economy, that money is worth nothing without something of value, likewise that only gold is of any value, but to whom? Not everybody has gold or access to it. But everybody has access to one thing, the ability to work. Thinkers spend more time debating than they spend acting. This county needs to get making things again, and one of the most important things is making our country again. Democrats, Republicans and members of parties of all sorts have one thing in common; the inability to think for themselves, the inability to think out of the box you put yourselves in. By its very nature, accepting the cause of any party causes divisiveness where only arguments are voiced without answers.