Friday, March 20, 2009

Wake Up American People

With all the serious economic stuff going on in the world today, we Americans spend our time talking about the most stupid stuff. Let me amend that to the people on TV that are still talking about such things as the AIG bonus, and the fact that our President can walk, talk and chew gum all at the same time. Thank God for college basketball and March Madness, so I have a reason to turn the channel from all those cable news shows. Oh, and a few Republicans have found fault with President Obama for taking the time to fill out his brackets for the college basketball championship. I guess after the last eight years, it is frightening to think that our President could walk, talk, chew gum and fill out the brackets for the college basketball championship all at the same time without causing his brain to have a hernia.

Being a critic is so much easier than actually creating something, so I guess it would follow that there are more critics than doers. TV political analysts know very little about economics, the financial markets and how they operate, and yet they have the soap box.

The Republicans, many of them are in Congress, have criticized President Obama and the actions he has taken to bring this nation out of our recession. It would be nice if the American people had an opportunity to hear more often from real economic professors that understand the financial markets as well as macroeconomics.

Our President is doing a good job. Let us give him the support to bring our economy back on track. And then, hopefully the members of Congress will put laws in place to prevent another meltdown of these proportions. Deregulation, lack of oversight and transparency does not work, and it is time for the American people to wake up to this reality. This is why your 401-k is a 201-k. People that work hard their whole lives do not deserve to be made fish being shot in a barrel, or marks for a financial mugging by the greedy people on Wall Street. It is time for ordinary people to wake up to the fact that Wall Street in conjunction with Congress did this to the American people. Unless people wise up to this fact, the laws that will prevent this from happening again will not be written.

Stay tuned.


Butch said...

I didn't catch who the fool was but there was a Congressional Republican on Wed. complaining how Obama was taking the time to go to California to be on the Tonight Show. He didn't mention what the Presidents reason was, talk up his agenda and put rumors aside. He also didn't mention that his buddy George B. took the time to come to Dayton, OH to pump up his war efforts when his ratings were falling. What better place to go the a semi-retired Air Force Base.

I agree, thank goodness for basketball. I'm a hockey fan but there isn't enough shown to get away from the "talking heads" as you refer to them. I won't watch Fox, too biased and I don't like CNBC anymore, too much like the VIEW with everyone talking at once. I'm sorry, I'm male and I can't multitask more than one screaming voice at a time.

moneythoughts said...

The Republicans are grasping at straws. They have nothing constructive to offer. Wouldn't it be fun if it was possible for the American people to see and hear who would be saying what it McCain had won the election in November? What would the Republicans be saying then? Two streams of talk about the same problems with different presidents leading the country. Would not that be fun to watch?

Elizabeth said...

401k to 201k. I love it! I'm going to use this next time I get into a recession discussion, but I'll give you credit for coming up with it. :-)

moneythoughts said...

The 201-k is not original as I had heard it before. However, the "financial mugging" is mine. Deregulation of the Savings & Loans in the 1980s lead to problems in the late '80's. Savings & Loans that had been limited to investing in mortgages, were permitted to invest in high yield bonds, better known as "junk bonds". This move lead the way to the Savings & Loan Crisis. The massives steps by Congress to deregulate the financial industry in the '90s set the table for the financial meltdown that our economy is going through now.
Congress had a lot to do with the present situation, but they don't want to hear about that.