Sunday, October 12, 2008
The philosophy of deregulation is a complete failure. If the prophets of deregulation had so much faith in the correctness of their economic philosophy, that the markets will correct themselves, then why aren't they doing that? The answer is simple. Deregulation is the philosophy when it means the wealthy can make marks of the old, the young, the poor and the middle class, but when the fire gets too close for the wealthy, as it is now, the philosophy of deregulation is placed aside to save the skins of the wealthy. From "divine right of kings" to "trickle down economics" to "deregulation", to "let the markets take care of the problem", the wealthy class has come up with economic philosphies that suit them and their class. What about the middle class? The middle class does not count in their minds. The middle class was put on this earth to serve the wealthy. The middle class is to be fed chants of "USA, USA, USA" and any other crap that they can swallow with their pretzels and beer. Laws and government policies are written for the benefit of the wealthy. But now those same laws and policies have resulted in the wealthy and upper middle class losing their wealth and thus their status. Now something must be done, we can not have the wealthy and upper middle class suffer any more than they have too. We don't have enough spas for all of them at one time, or do we?
The people that should receive the bailout/rescue will not see it. No more than the people that suffered through Katrina saw any help. The wealthy and well connected will come out of this OK, but the old, the young, the poor, and the majority of the middle class will not recover for many years. Those that still think Reagan, Bush and Bush are so smart, well some people never learn. Those that still embrace deregulation because regulation, oversight and transparency costs too much, must not count the billions of dollars that the American people will pay for the bailout/rescue. Those that pray, had better pray that enough Americans can now see the light, the philosophy of economic deregulation is the false prophet. Even God was smart enough to know that man needed ten commandments.